Market Pulse Scope's WTI crude series rose 10.4% over seven sessions to $101.41 a barrel on Oct 19, the steepest weekly gain on the site's energy board, as a fresh wave of tanker attacks in the Strait of Hormuz cut Persian Gulf loadings and pushed Brent back above $110.
Vale says rising fuel and shipping costs have pushed about 10% of its iron ore output below breakeven just as Chinese port inventories climbed to 173.69 million tonnes and daily hot metal eased to 2.3366 million tonnes.
Market Pulse Scope's China coke benchmark fell 8.3% to CNY 2,125 a tonne after steelmakers pushed through a second round of procurement cuts effective 12 October, leaving independent coking plants about CNY 52 a tonne in the red.