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The Singapore Exchange said its new high-grade iron ore futures, which are settled against the Fastmarkets MB 65% Fe Iron Ore Index, have seen over 3 million tonnes worth of transactions since its December 3 launch involving 30 market participants.
There are indications that China might have become the biggest importer of pig iron in Asia last year, according to Fastmarkets’ research team, although detailed data for the East Asian country’s trade is still not available.
Fastmarkets AMM summarizes five more things learned at the 2019 Mexican Steel Forum held February 12-15 in Monterrey, Mexico.
The suspension of cobalt production at the Chambishi refinery in Zambia could provide some respite to falling cobalt prices but it should not be confused with the eventual departure of Chambishi broken cathodes from the market, according to sources spoken to by Fastmarkets. The suspension was triggered by constrained supply of imported feedstock.
The Alliance for American Manufacturing wants United States lawmakers to reject the recently introduced Bicameral Congressional Trade Authority Act of 2019, arguing that it threatens steel and aluminium sector jobs and investment.