STEEL WEEK IN BRIEF: Iron Ore Prices Below $60/t, Scrap Prices Up, Trade Case Monitor

- Nov 04, 2017 -

Iron ore prices remained at $60 per tonne cfr China on Friday November 3, amid limited trading activity due to a correction in China's futures market, and after falling to $58.52 per tonne cfr on Tuesday. 

The seaborne coking coal spot market was mostly stable this week with many participants continuing to wait at the sidelines.

Metal Bulletin’s coking coal indices were all unchanged on Friday, at $182.52 per tonne cfr China and $178.08 per tonne fob Australia for premium hard coking coal, and $161.09 per tonne cfr China and $150.58 per tonne fob Australia for hard coking coal.

Higher Turkish ferrous scrap import prices boosted prices in the US, Taiwanand India this week generating a sense of bullishness among global sellers who feel there is more upside to Turkish prices.

Also, the UK inter-merchant price range for austenitic alloy steel scrap rose by £30 per tonne ($39.50) this week as the nickel price jumped.