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Base metals prices on the London Metal Exchange were weaker this morning, Thursday October 22, this after a day of general strength on Wednesday that saw copper prices climb, intraday, back above $7,000 per tonne.
Hot-rolled coil prices in the United States have remained steady above $33.50 per hundredweight ($670 per short ton); meanwhile, market activity has slowed, with buyers waiting to purchase more material amid expected additional increases and rising offer prices.
Sellers of soymeal and soyoil out of Argentina have lifted offers for nearby loading of the product
A global boom in home appliance sales during the Covid-19 pandemic is causing a shortage in flat steel supplies in China, and in turn supporting prices, Fastmarkets has heard.
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