Metal Bulletin reviews the major stories that have affected the steel market over the past week.
Seaborne coking coal prices saw little movement on Friday April 6, with buyers anticipating the downtrend to resume next week with cyclone fears subsiding.Warnings that cyclone Iris could intensify off the coast of Queensland had dominated sentiment in the seaborne coking coal market earlier in the week, even as trading activity was robust.Queensland's Dalrymple Bay Coal Terminal (DBCT), for instance, has declared force majeure amid unfavorable weather conditions caused by the cyclone, well-informed market sources said on Wednesday April 4.The seaborne iron ore market also softened further on Wednesday amid falling steel prices in China, with premiums for index-linked cargoes of Pilbara Blend fines remaining subdued.Markets in China remained closed on Thursday April 5 and Friday April 6 for the Tomb-Sweeping Festival.And in Brazil, Anglo American's Minas-Rio iron ore operations are expected to remain suspended for approximately 90 days while the miner carries out a full inspection following a pipeline leak...