Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were once again mixed this morning, Wednesday January 20, but the likelihood of plentiful US fiscal stimulus in the days ahead is likely to underpin markets at least for a while, although any new measures to tackle Covid-19 may well become a headwind.

Hot-rolled coil prices in the United States held steady while buyers continued to struggle in their quest for spot tonnage at the domestic mills.

Ongoing lorry drivers’ strike action causes big impact at Argentine grain ports: sources

Covid-19 appears to have claimed another casualty: the London Metal Exchange ring trading floor.

The London Metal Exchange is proposing the permanent closure of its open-outcry trading floor and the incentivization of greater liquidity on its electronic trading platform, LMESelect.

Aluminium producer Rusal has partnered with Henan Mingtai Aluminium to deliver low-carbon aluminium products to meet growing market demand, it said on Tuesday January 19.

Copper was the only base metal on the London Metal Exchange to register a gain during morning trading on Tuesday January 19, while aluminium’s forward price continued to drop and tin recorded the biggest decline, with the complex still capped by a firm dollar.

After an extended consultation period, Fastmarkets has decided to amend its discount assessment for No2 copper scrap imported into China so that it is aligned with the country’s new import policy for such material.

Base metals prices on the London Metal Exchange were mixed this morning, Tuesday January 19, but aluminium prices have followed recent weakness in zinc, breaking support levels in the process.

Rabobank will close its commodity trade finance desks in London, Shanghai and Sydney after reviewing the embattled sector last summer.