Here are five Fastmarkets MB stories you might have missed on Monday November 25 that are worth another look.

China’s daily crude steel production extended its rebound in mid-October and reached 1.999 million tonnes, the highest since late May.

Steel price trends and market fundamentals in China set the heartbeat for the international spot market.

The seaborne iron ore market maintained its momentum in March, even with the Covid-19 pandemic causing turmoil for the global economic outlook and leading to steel production cuts and weakening demand outside of China.

Chinese steel prices have risen this year due to capacity cuts and strong demand from major downstream industries.

The Thai Cabinet has approved a draft bill this week that will allow the Industry Ministry to shut down mills in the country that produce substandard steel.

The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around the world have stopped and aggressive offers by traders for Russian and Indian supply have pushed prices down further.

The new round of sanctions imposed by the United States on November 5 is expected to cut Iranian steel exports further, gradually leading to lower Iranian steel output, market sources believe.

In the face of increasingly volatile markets in Asia, it is becoming more and more crucial for participants to engage in hedging to cut their risks of incurring losses, industry sources told Metal Bulletin.

Turkish import scrap prices have risen this week, while those for Taiwanese import material plunged, and Indian import scrap held largely steady amid general expectation of a rebound in demand for the steelmaking raw material.