Strong yuan, restocking lift steel raw materials

摘要

Steel raw materials -- iron ore andmetallurgical coal -- prices rose late January toearly February due to Chinese buying interestahead of the Lunar New Year holidays andstrengthening performance of the yuan againstthe US dollar.S&P Global Platts assessed the 62% FeIODEX & TSI Iron Ore Fines 62% at $78.25/dry mtCFR North China Wednesday, up $3.40/dmt or4.5% on the month, and premium low-vol hardcoking coal climbed $11.50/mt or 5.1% on themonth to $233.50/mt CFR China Wednesday.