In May, there were significant fluctuations in the prices of steel raw materials market. The market was affected by various factors, including supply

and demand, commodity prices, and currency fluctuations.

The prices of steel raw materials such as iron ore, coking coal, and coal tar pitch all increased by different margins.

The main driver for this increase in prices was the resumption of production activities after the pandemic. China's steel production increased

significantly in May, which led to a surge in demand for steel raw materials. In addition, the global economic recovery also supported the rise in

prices of steel raw materials.

However, despite the increase in prices, steel mills' profits remained limited due to high costs and weak demand from downstream sectors. This

was because many downstream sectors such as construction and automotive were still affected by the pandemic, leading to a decrease in demand

for steel products.

In short, the increase in prices of steel raw materials was mainly due to the recovery of production activities and the global economic recovery.   

However, high costs and weak demand from downstream sectors limited steel mills' profits.   Downstream sectors' recovery may support further

increases in prices of steel raw materials in the future.