Base metals prices on the London Metal Exchange were weaker this morning, Thursday October 22, this after a day of general strength on Wednesday that saw copper prices climb, intraday, back above $7,000 per tonne.

Hot-rolled coil prices in the United States have remained steady above $33.50 per hundredweight ($670 per short ton); meanwhile, market activity has slowed, with buyers waiting to purchase more material amid expected additional increases and rising offer prices.

Sellers of soymeal and soyoil out of Argentina have lifted offers for nearby loading of the product

A global boom in home appliance sales during the Covid-19 pandemic is causing a shortage in flat steel supplies in China, and in turn supporting prices, Fastmarkets has heard.

London Metal Exchange three-month base metals prices were trading up on the previous day’s close during the morning session on Wednesday October 21, boosted by hopes of an imminent US fiscal stimulus package and increased government-sanctioned Chinese infrastructure spending.

Half of the base metals prices on the London Metal Exchange have in recent days risen to multi-month highs, with copper reaching levels not seen since June 2018, and all of the metals are pushing higher this morning, Wednesday October 21.

Hot-rolled coil prices in the United States have crossed the $33.50-per-hundredweight ($670-per-short-ton) threshold, and most signs indicate that they will continue to march upward, market participants said.

Hot-rolled coil prices in the United States have continued to move higher, supported by tightening supply brought on by rising demand in face of still-constrained domestic production.

Recycled copper and aluminium that meet China’s standards for renewable metals instead of solid waste can be freely imported into the country starting from November 1, according to the Chinese Ministry of Ecology and Environment.

Comparing corn consumption, stocks, and stocks-to-use ratio globally, this year is very different to the drought year of 2012. What I think has changed is China’s demand since 2012-13, and that