After an extended consultation period, Fastmarkets has decided to amend its discount assessment for No2 copper scrap imported into China so that it is aligned with the country’s new import policy for such material.

Rabobank will close its commodity trade finance desks in London, Shanghai and Sydney after reviewing the embattled sector last summer.

The base metals on the London Metal Exchange were mainly stronger this morning, Monday January 18, aided by some strong economic data in China, including gross domestic product (GDP) that showed growth of 6.5% year on year in the fourth quarter, which was stronger than the 6.2% expected and up from 4.9% in the third quarter.

After a rapid rise of domestic steel prices across Europe in the second half of 2020, market sources have been voicing concerns that the situation will echo the scenario in 2008 of a price spike quickly followed by a sharp fall.

The base metals on the London Metal Exchange were mainly weaker this morning, Friday January 15, while those on the Shanghai Futures Exchange were mainly firmer in line with the stronger Chinese fundamentals.

The president of one of Brazil’s truck unions has warned in local media that upcoming strike action, scheduled for February 1...

The base metals on the London Metal Exchange and on the Shanghai Futures Exchange were mixed this morning, Thursday January 14, with prices generally holding up in high ground but some weakness is showing up on the charts in the likes of zinc.

Base metals prices were for the most part weaker during morning trading on Monday January 11, while the dollar was firmer in line with strong US treasury yields.

Sluggish Chinese domestic steel scrap prices mean there has been a large gap between bids and offers for imports of steel scrap this week, market sources told Fastmarkets on Friday January 8.

China's looming presence as a new buyer in the Asian seaborne scrap market has sparked concerns of tight supply in the region, including in Taiwan, sources told Fastmarkets this week.