Ferrous markets are volatile, and 2020 marked one of the most up-and-down years for steel pricing in recent memory, but perhaps no year was as unpredictable as 2008.

China will remove the export tax rebate for some steel products from May 1, the Ministry of Finance said on Wednesday April 28.

Fastmarkets proposes to launch a weekly Poland domestic steel wire rod (drawing quality) price assessment to complement Fastmarkets’ existing suite of European long steel prices.

Rebounds were under way in the base metals complex in London this morning, Friday June 18, while in Shanghai the base metals mostly reflected the weakness seen on the London Metal Exchange on Thursday.

Base metals prices on the Shanghai Futures Exchange, apart from those for lead, were up during morning trading on Tuesday July 6. Those on the London Metal Exchange were mixed, but that was after a generally positive day on Monday.

After a rapid rise of domestic steel prices across Europe in the second half of 2020, market sources have been voicing concerns that the situation will echo the scenario in 2008 of a price spike quickly followed by a sharp fall.

Seaborne coking coal prices surged up in both the cfr and fob markets on Friday May 14 due to increased buying interest and positive market sentiment in both markets.

Demand for both domestic and imported scrap continued to be low in the China market on Friday July 2, market sources told Fastmarkets.

Turkish steel producers continued to pay higher prices for deep-sea scrap after securing more billet sales into China, market participants told Fastmarkets on Tuesday May 11.

Key data from Fastmarkets’ pricing session in Europe on Wednesday March 17.