A green-tinged recovery from Covid-19 sees readjustment in iron ore price dynamics.

Turkish steel mills remained absent from the deep-sea scrap import market on Wednesday March 24, due to the slump in the value of the lira and weak steel demand, market participants told Fastmarkets.

Total crude steel output across 64 major producer countries was 150.2 million tonnes in February 2021, down by 8% month on month but up by 4% from February 2020, the World Steel Association (Worldsteel) said on March 23.

The three-month nickel price on the London Metal Exchange was up by 1% during morning trading on Tuesday March 23, while aluminium fell to $2,227.50 per tonne, with a combination of macroeconomic factors and fundamentals issues resulting in mixed price movements.

Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange, as well as spot precious metals prices, were mainly weaker this morning, Tuesday March 23, as were broader markets.

The Shanghai Futures Exchange’s plans to list ferro-chrome futures, potentially this year, will bring welcomed hedging opportunities and may weaken the dominance of China’s stainless steel mills in the ore and alloy markets, participants told Fastmarkets.

Fastmarkets is proposing to launch a zinc SHG ingots in-warehouse Southeast Asia warrant premium to complement its current zinc warrant coverage, which is focused on Europe and United States.

Base metals prices on the London Metal Exchange were mixed on Monday March 22, while those on the Shanghai Futures Exchange were up across the board.

The Coalition of American Metal Manufacturers and Users (Cammu) claims that United States Commerce Secretary Gina Raimondo was mistaken about the success of the Section 232 steel and aluminium tariffs, and reiterated its call for their termination.

A lack of demand for staple corn volumes out of the key Ukraine corn market, and lingering expectations of niche demand from...