United Arab Emirates-based Dana Steel resumed hot-dipped galvanized coil production at its Dubai facility in June, company chief executive officer Ankur Dana told Fastmarkets this week.

Following a three-month consultation, Fastmarkets has adjusted its iron ore index methodology to increase the transparency and predictability of its process for incorporating “floating price” information.

Asian steel scrap imports fluctuated wildly from territory to territory in 2020, with South Korea and Bangladesh reporting decreases while Taiwan and Vietnam recorded increases.

Fastmarkets proposes to launch a daily assessment of the Turkey steel scrap month-to-date deal-weighted average price, to be called steel scrap, month-to-date deal-weighted average, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, $ per tonne.

Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were weaker across the board this morning, Tuesday June 29, with the spread of the Covid-19 Delta variant a worrisome development.

Seven creditors have sued a Chinese warehousing and logistics firm to claim a loss of copper concentrate worth 1.073 billion yuan ($166 million), according to several court documents, the latest of which was released on June 23.

Domestic prices for hot-rolled coil in Europe increased in the week to Friday June 25, despite slower trading activity in the market with buyers holding back from making new deals.

Turkish steel producers made no deep-sea scrap bookings on the first day of the working week, but are expected to return to the market for August cargoes soon, market sources said on Monday June 28.

Join Fastmarkets and the London Metal Exchange on Tuesday July 6 for a webinar about European aluminium premiums ahead of the launch of the LME’s new cash-settled futures contract.

A correction has been issued for this article. The update can be found here.