Base metals prices on the London Metal Exchange were firmer this morning, Tuesday October 27, despite some strong headwinds from little progress on the next US Covid-19 relief package and surging infection rates across Europe and the United Sates.

Hot-rolled coil prices in the United States climbed for the eighth consecutive business day while tight supply continued to bump up against rising demand.

The electric vehicle (EV) and autonomous vehicle (AV) markets will have a large impact on the automotive industry and there are technological advances happening in steel that could contribute to this auto evolution, according to a panel discussion during the Steel Success Strategies 2020 virtual conference this week.

There are reasons to believe the worst is over for a domestic steel market rattled by the Covid-19 pandemic, Nucor Corp president and chief executive officer Leon Topalian told attendees of Fastmarkets’ Steel Success Strategies Online conference on Monday October 26.

Australian spodumene producer Altura Mining has entered receivership, according to a filing on the Australian Securities Exchange (ASX) on Monday October 26.

Uncertainty about next year’s aluminium fundamentals and consumer hesitance to commit to long-term, large-tonnage contracts has Alvance chief operating officer Guillaume De Goys expecting an active spot market in 2021.

Mongolia shipped twice as much metallurgical coal to the Chinese market than Australia in September, confirming its position as the key supplier of the steelmaking raw material to China.

Hot-rolled coil prices in the United States climbed for the seventh day in a row, mostly due to low availability of material and inventories.

Rusal America Corp has secured “green” aluminium supply contracts with two separate Mexican downstream manufacturers, with one being the “greenest” slab contract ever signed in North America, president and chief executive officer Brian Hesse told Fastmarkets on Thursday October 22.

Import scrap buyers in Taiwan failed to keep prices stable in the week to Friday October 23 after the bellwether market in Turkey reported price increases, sources said.