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