STEEL WEEK IN BRIEF: High-grade 65% iron derivative launch by SGX, trade war truce, sanctions hitting Iran…

Fastmarkets MB reviews the major stories that have affected the steel market during the week ended Friday December 7.

Raw Materials Iron ore producer Vale will use a 65% Fe iron ore index to price its pellets next year, moving away from using a 62% Fe iron ore index as the base price for such cargoes, executive director Peter Poppinga said. The world's largest iron ore miner also hailed the launch of a derivative contract by the Singapore Exchange on December 3 as a positive development for the high-grade market. Meanwhile, the contract registered 150,000 tonnes of cleared trades on its first day of...

Published

Ross Yeo

December 07, 2018

20:01 GMT

London