Fastmarkets’ 62% Fe iron ore fines index just experienced its most volatile week on record: a biggest-ever daily gain of $18.31 on Monday May 10 came before a new high of $237.57 per tonne on May 12, followed by a record daily loss of $28.78 on May 14.

Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were, for the most part, a lot stronger this morning, Monday May 10, but broader markets were mixed.

Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were for the most part stronger this morning, Friday May 7, as were broader markets.

The Coalition of American Metal Manufacturers and Users (Cammu), along with more than 300 US manufacturing businesses, asked US President Joe Biden to immediately terminate the Section 232 steel and aluminium tariffs in a letter dated Thursday May 6.

Base metals prices on the London Metal Exchange were a bit more mixed this morning, Thursday May 6, while the return of trading on the Shanghai Futures Exchange after the Labor Day holidays saw good gains in all metals apart from zinc.

With Chinese markets closed, volume traded on the London Metal Exchange has been light this morning, Tuesday May 4, with 2,368 lots traded as of 6.14am. But the base metals were holding up in high ground with gains averaging 0.7%, led by a 1.1% rise in copper to $9,916.50 per tonne.

Demand for refined copper in China has now surpassed levels seen prior to the Covid-19 pandemic, according to Vancouver, Canada-based Teck Resources.

As the US steel market continues to build up steam, can the promise of new capacity in 2021 lead the way to a steel price correction?

China’s import premiums for copper cathode are in free fall, and market sentiment remained very low in current unfavorable import condition. Premiums in other regions held unmoved.

Base metals prices on the Shanghai Futures Exchange were for the most part stronger this morning, Friday April 16, supported by robust economic data, while the base metals on the London Metal Exchange were consolidating after yesterday’s strength, which followed strong US data.