Metal Bulletin reviews the major stories that have affected the steel market over the past week.
Iron ore prices strengthened to close to $79 per tonne on Friday February 23 amid expectations of a possible extension of production limitations in China beyond the country's winter heating season, which ends in mid-March.Tangshan's municipal government is seeking feedback from market participants about a plan requiring mills under its jurisdiction to lower the production rates of their blast furnaces by 10-15% from mid-March until mid-November.Meanwhile, seaborne coking coal prices were firm on Friday even though concerns about weather-related disruptions to rail services in Queensland, Australia, had been allayed.Metal Bulletin's fob Australia Premium Hard Coking Coal Index rose by $1.30 per tonne to $233.52 per tonne, while the fob Australia hard coking coal index gained $2.50 per tonne to $195.51 per tonne.In the scrap market, global prices moved upward...