The three-month tin price on the London Metal Exchange crossed the $21,200-per-tonne mark while copper edged above $7,900 per tonne during morning trading on Tuesday January 5, with a weak dollar continuing to offset worries about new lockdowns in Europe and the Georgia run-off election in the United States.

Strong gains were seen across the base metals on the London Metal Exchange at the start of the week and most of the metals in London and all the metals on the Shanghai Futures Exchange were up again this morning, Tuesday January 5.

Brazil’s iron ore exports increased by a third in December compared with a year earlier, according to statistics from the country’s economy ministry.

Hot-rolled coil pricing in the United States rose further on the first business day of the year, with market participants awaiting this month’s ferrous scrap settlement for direction amid limited spot availability of HRC.

Delivery and sales from leading US-based electric vehicles (EVs) manufacturer Tesla showed strong growth over the course of 2020 despite the economic setbacks and logistic disruptions triggered by the global spread of Covid-19 and its economic consequences, according to data released by the company on Saturday January 2.

The new year has started with optimism in the air and base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up by an average of 1.8% and 1.4% respectively this morning, Monday January 14.

Fastmarkets has updated its formula for calculating the daily physical nickel arbitrage in Shanghai, after China announced it would lower the import tax on certain non-alloyed nickel from 2% to 1%, from January 1, 2021.

Bangladeshi steelmakers are likely to re-enter the market soon for purchases of deep-sea scrap cargoes due to low inventory levels, sources told Fastmarkets on Thursday December 31.

An increase in the number of physical scrap cargoes offered in key import market Vietnam in the the week to Thursday December 31 has dampened sentiment, market sources told Fastmarkets.

The price increases for imported containerized ferrous scrap into Taiwan eased in the week to Thursday December 31 amid a year-end holiday lull.