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Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Monday October 12, but sentiment has turned more bullish, especially in aluminium, since China returned from its Golden Week holiday.
Low inventory levels and longer lead times have pushed hot-rolled coil prices in the United States up to their highest in 17 months, with mills holding most of the negotiating power.
Scrap prices across the global markets moved down in the week ended Friday October 9, largely due to Turkey’s return to the market, although making purchases at lower prices than previously.
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