Rebar consumption in Egypt was up by almost 50% month on month in November due to a resurgence in restocking activity and after the easing of building restrictions led to a slight uptick in demand.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally firmer this morning, Wednesday December 16, with prices holding up in high ground, backed by optimism that vaccines will lead to stronger recoveries next year, while the weaker dollar and concerns about inflation were also supportive.

Renewed buying interest from consumers in South Korea and Taiwan has allowed another increase in Japanese export scrap prices over the past week, market participants told Fastmarkets on Wednesday December 16.

Hot-rolled coil prices in the United States retreated slightly, one day after soaring to a 12-year high, while spot market supply might be insufficient to serve the needs of manufacturers potentially for months.

Stainless steel producer Outokumpu has upgraded its guidance for the fourth quarter of 2020 following better-than-expected sales, the Finnish company said on Tuesday December 15.

German metals distributor Klöckner & Co has improved its earnings forecasts for the fourth quarter and full year of 2020 due to the ongoing steel market recovery, the company said on Tuesday December 15.

Three-month base metals prices on the London Metal Exchange were mixed during morning trading on Tuesday December 15, with nickel being the only metal to see a rise of more than 0.5%, despite positive Chinese economic data.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Tuesday December 15, this despite some healthy Chinese economic data.

Hot-rolled coil prices in the United States have surpassed $930 per short ton, reaching levels not seen in well over a decade.

Base metals prices on the London Metal Exchange were mainly firmer this morning, Monday December 14, following the pullback from highs at the end of last week, but the base metals on the Shanghai Futures Exchange were mainly weaker while they followed Friday’s weakness on the LME.