Aluminium prices on the London Metal Exchange set fresh multi-year highs on Wednesday April 21, while copper and tin shied away from previous highs, and the rest remain rangebound this morning.

Prices for higher grades of steel scrap exported from Japan continued to increase over the past week, underpinned by a strong appetite in the domestic market, sources told Fastmarkets this week.

Domestic demand in the United States for hot-rolled coil is "phenomenal" and is expected to remain that way for the rest of 2021 and into 2022, Steel Dynamics Inc (SDI) president and chief executive officer Mark Millett said during the company's earnings call.

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 London Metal Exchange were up across the board this morning, Wednesday April 21, but those on the Shanghai Futures Exchange were mainly weaker, as were broader markets, while haven assets were bid for.

Turkish steel producers continued to push for lower deep-sea scrap prices, while suppliers in the Baltic Sea and United States continued to maintain higher offers, market participants told Fastmarkets on Tuesday April 20.

Fastmarkets will, on Wednesday April 21, launch a weekly price assessment for the zinc SHG ingots in-warehouse Southeast Asia warrant premium.

Toyota Tsusho Corp, the joint sales and marketing agent for lithium chemicals from Orocobre’s Olaroz lithium works, has signed contracts to supply battery-grade lithium carbonate to two leading Chinese cathode manufacturers, Orocobre said.

Base metals prices on London Metal Exchange were stronger across the board this morning, Tuesday April 20, but those on the Shanghai Futures Exchange were mixed, as were broader markets, following weakness on Wall Street on Monday.

Turkish steel producers returned to the deep-sea scrap import market at the start of the week, booking cargoes from a range of locations at lower prices, market participants told Fastmarkets on Monday April 19.