STEEL WEEK IN BRIEF: Coking coal price upswing, rail blockades in Ukraine, trade policies...
Metal Bulletin reviews some of the key news and price moves from the past week in the global steel market.
The seaborne coking coal price the week higher on Friday March 3, with China’s appetite for the steelmaking raw material likely to determine if prices will continue increasing next week. Metal Bulletin’s cfr China premium hard coking coal index increased to $168.81 per tonne on Friday, up from $165.50 per tonne a week earlier, while the fob Australia index increased to $160.22 per tonne, up from $158.38 per tonne. An analysis of the elements linked to the upswing in coking coal prices in the past couple of weeks made sense of the rising prices. And coal miners in China are keenly awaiting an announcement on the country’s production plans for the year. China's National People's Congress (NPC) will hold its annual meeting on Sunday March 5, which is expected to shed light on the country's plans with regard to overcapacity in the commodities sector, supply-side reforms and measures to control pollution. Meanwhile, iron ore prices weakened on Friday, with... read more https://do not advertise external s...rail-blockades-in-Ukraine-trade-policies.html
AHQ Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
