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China’s “unpredictable political moves” in relation to coking coal from Australia has driven some Chinese steel mills to increase their contractual supplies of the steelmaking raw material from elsewhere, sources told Fastmarkets this week.
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday February 24, with tin on the LME and the SHFE April copper contract in positive territory, while the rest were weaker.
Hot-rolled coil prices in the United States have risen yet again to an all-time high after buyers perceived that the tight availability of spot material likely will not loosen up before domestic mills begin a series of maintenance outages.
The European Commission (EC) has decided not to impose preliminary anti-subsidy duties on hot-rolled coil originating from Turkey.
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