HIGHLIGHTS: Chinese New Year, low scrap prices in Turkey, iron ore output data, Trump...

Metal Bulletin reviews some of the key news and price moves from the past week in the global steel market.

Trades into China set the tone for the seaborne coking coal market this week.
Metal Bulletin’s cfr China premium hard coking coal index fell $0.64 per tonne on Friday January 27, to $175.67 per tonne while the fob Australia index was unchanged, at $170.39 per tonne.
However, as the biggest consumer of coking coal falls silent due to the Chinese New Year break, Metal Bulletin asked the crucial question: have coking coal prices bottomed out?
Metal Bulletin’s 62% Fe Iron Ore Index ended the week stable as the holiday in China officially began, at $83.84 per tonne cfr Qingdao.
Cheaper sales into Turkey shook the global scrap markets during the January 23-27 working week.

Prices for containerised ferrous scrap arriving in India dropped sharply this week as a consequence of the rapid deterioration in the market for...

Published

Ana Paula Camargo

January 27, 2017

21:00 GMT

São Paulo