Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Monday July 19, with nickel and tin the standout performers, driven higher by supply disruptions.

Vietnam is proposing to impose a 5% export tax on steel billet, which could make offer prices from the country's mills uncompetitive in key Asian markets, sources told Fastmarkets on Thursday July 15.

With strong freight values and limited supplies available, how long will the bargains last?

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Wednesday July 14, after stronger-than-expected inflation data from the United States on Tuesday raised concerns.

Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 8, after the United States Federal Reserve’s latest minutes showed a slight pick-up in hawkishness.

All the world’s major coking coal importers reduced their purchases in 2020 amid steel production cuts and lockdowns caused by the Covid-19 pandemic.

Base metals prices on the London Metal Exchange were up across the board this morning, Wednesday July 7, suggesting dip buying after Tuesday’s weakness that saw copper, aluminium and nickel fall by 2%, or more.

Base metals prices on the Shanghai Futures Exchange, apart from those for lead, were up during morning trading on Tuesday July 6. Those on the London Metal Exchange were mixed, but that was after a generally positive day on Monday.

China bucked the trend among major iron ore importers by continuing to increase its purchases of the steelmaking raw material from abroad in 2020.

Base metals, iron ore, rebar and precious metal prices on the Shanghai Futures Exchange were up across the board this morning, Monday July 5, with all the base metals, apart from lead, also higher on the London Metal Exchange.