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Fastmarkets is proposing to launch a daily index for Italy’s domestic steel hot-rolled coil market to replace the existing weekly price assessment for the product in Southern Europe.
China’s metals industry returned from holiday to find metal prices were higher and it would appear have chased prices higher, with all the base metals on the London Metal Exchange and Shanghai Futures Exchange showing gains this morning, Thursday February 18.
A key topic reverberating around the Asian steel market over the past month has been the possibility of China reducing steel export rebates to 9% from the current 13%, or possibly axing them altogether.
European vanadium prices continued to climb in February amid tightening prompt inventories and better-than-expected end-user demand, market sources told Fastmarkets.
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