Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Thursday November 11 - it would seem dip-buying has dominated once again.

London Metal Exchange aluminium stocks dropped below the 1-million-tonne mark for the first time since October 2019 and on-warrant volumes were at their lowest in nearly 16 years on Tuesday November 9, while the metal complex's prices were little changed from the end of trading on Monday.

BHP has signed an agreement to sell its 80% interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings Pty Ltd as part of its decarbonization plan, the Anglo-Australia multinational announced on Monday November 8.

Tenaris plans to “vigorously” fight any assertion by its competitors or the US Department of Commerce that its imports of oil country tubular goods (OCTG) have harmed the United States, the company said in its third-quarter earnings report.

Global ferrous scrap prices showed varying fortunes in the week ended Friday October 29, with Turkey, India and the United States all reporting stability or prices increases, while the markets in Taiwan, Vietnam and China all weakened.

Prices for shredded steel scrap imported into Pakistan and India increased on Friday October 29, despite concerns over rising freight costs, sources have told Fastmarkets.

Fastmarkets has corrected its chromium price, in warehouse Rotterdam, which was incorrectly published on Friday October 29 due to an editing error.

Base metals prices on the London Metal Exchange were broadly down on the morning of Friday October 29 following a brief rally on Thursday, however all but aluminium look set for a positive monthly close.

Battery-grade lithium prices in Asia nudged higher over the week to Thursday October 28 on lingering tightness in supply, costlier feedstock and monthly restocking among buyers.

The three-month aluminium price on the London Metal Exchange was the underperformer during morning trading on Wednesday October 27, but all the base metals were weaker amid growing macroeconomic headwinds.