STEEL WEEK IN BRIEF: Reactions to Section 232, Ramadan lull, strike action in Brazil...

Metal Bulletin reviews the major stories that have affected the steel market over the past week.

Physical iron ore prices softened on Friday May 25 amid declining futures and despite gains in the steel market. They reached their lowest level since April 16, when prices were $63.93 per tonne.
Chinese demand for iron ore is expected to be stable this year, with steel producers prioritizing capacity cuts in line with government directives, according to the China Iron & Steel Association (Cisa).
Sellers in the seaborne coking coal market are taking their time to liquidate their existing cargoes, keeping prices for the steelmaking raw material flat.
In a two-part feature, Metal Bulletin looked at the evolution of the coking coal market from 2013 until now, analyzing the changes in the fundamentals affecting the segment and the developing pricing structures.
Global ferrous scrap prices softened, with falling Turkish scrap prices and the country’s weaker lira muting trade activity both within the country and internationally.

The market...

Published

Ana Paula Camargo

May 25, 2018

21:15 GMT

São Paulo