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.

The price of shredded steel scrap imported into India and Pakistan crossed $400 per tonne on Friday December 11 as a result of high international prices and tight shipping availability, sources told Fastmarkets.

Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 30 days at the end of November, according to the London Metal Exchange’s latest queue report.

Base metals prices on the London Metal Exchange were down across the board this morning, Friday December 11, this after copper, zinc, nickel and tin set fresh highs for the year either on Thursday or earlier this morning.

Spot import prices for containerized ferrous scrap into Taiwan hit a historical high in the week to Friday December 11, because of delays to shipments from the United States West Coast, sources told Fastmarkets this week.

Hot-rolled coil prices in the United States have resumed their uptrend, with buyers on the sidelines waiting for mills to open their order books amid limited material availability, sources told Fastmarkets.

Aurubis, Europe's biggest copper producer, posted improved earnings in its latest annual results, largely thanks to higher scrap refining charges (RC) since its acquisition of recycling firm Metallo in May 2020.

The base metals remain upbeat this morning, Wednesday December 9, with all the metals on the London Metal Exchange in positive territory on hopes that a US stimulus package may be on the way.

China’s Tianqi Lithium’s wholly-owned subsidiary Tianqi Lithium Energy Australia Pty Ltd (TLEA) has brought in new strategic investor Australia-listed IGO Ltd as a 49% stakeholder, with both parties signing an initial investment agreement on Wednesday December 9.