Metal Bulletin reviews the major stories that have affected the steel market over the past week.
The break in some markets to celebrate the Chinese lunar new year has driven commodity prices this week.Metal Bulletin's 62% Iron Ore Index increased to $78.43 per tonne cfr on Thursday, while Metal Bulletin's fob Australia indices for coking coal were flat at $229.57 per tonne for premium hard coking coal and up by $5.50 per tonne to $193.01 for hard coking coal.Metal Bulletin did not publish its coking coal and iron ore indices on Friday on account of a public holiday in Singapore.Domestic coking coal prices in China rose at the beginning of February amid tighter supply of premium products and higher demand for thermal coal in the country, according to Metal Bulletin's analysis.Steel scrap prices in the world's major markets remained firm, with...