After e hitting a half-year low of $94 a tonne, SGX TSI CFR China iron ore (62 percent iron powder) index futures rebounded sharply on Friday, with the benchmark 06 contract climbing about 4.6 percent to regain the $100 mark, paring this week's weekly losses to around 5 percent.
The latest data showed that Mysteel surveyed 247 Chinese steel mills, the blast furnace operation rate of 82.36%, the same as last week, down 1.47 percentage points year on year; The utilization rate of blast furnace ironmaking capacity was 89.93%, an increase of 0.80 percentage points from the previous month and 0.67 percentage points from the previous year. The profit rate of steel mill was 34.20%, increased by 0.87 percentage points from the previous month, decreased by 14.28 percentage points year-on-year; The average daily output of molten iron was 2,415,200 tons, an increase of 21,600 tons month-on-month and 6,400 tons year-on-year.
