China, global steel margins drop on coke, scrap

摘要

Steel mill spreads globally furthercontracted in October due to costpressures; mainly from coke, but also fromscrap and billet.Asia mill spreads between thesteel products and imports of iron orewith coking coal fell further with morepronounced drops for China export rebarspreads. China’s export steel prices lastmonth were unable to cope with highercosts stemming from coking coal’ssurge towards the $300/mt CFR Chinalevel, which had been reached by earlyNovember.