Metal Bulletin reviews the major stories that have affected the steel market over the past week.
Iron ore prices started 2018 on a rise, gaining further ground on Friday January 5 to $76.80 per tonne cfr Qingdao despite the Chinese steel market retreating again.There was barely any movement in the seaborne coking coal market amid a lack of indicative and firm bids, with buyers still trying to figure out which way prices would go next.Chinese government policies, especially those limiting pollution, are expected to continue to be a factor affecting coking coal prices in 2018.Import prices for containerized heavy melting scrap (HMS) in Taiwan regained some upward momentum amid tight supply and healthy demand.Indian import scrap market participants will start 2018 optimistic that prices will be supported by both a rise in domestic finished steel demand and a more favorable regulatory environment.The domestic ferrous scrap market in the United States is poised to begin the New Year on...