Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday November 16.
Raw MaterialsThe Singapore Exchange will launch high-grade iron ore derivatives settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB in the first week of December.Asia ferrous scrap prices are still falling due to weak demand from steel mills and ample supply from various origins.While the winter season begins in China, the ferrous market is wondering whether Chinese steelmakers will continue to move toward higher-grade, lower-impurity iron ore - an affinity they have demonstrated over the last two years.Iron ore...