Import prices for steel scrap to Bangladesh continued to rise during the week to Thursday May 20, with buyers increasingly searching for tonnages, sources told Fastmarkets.

Base metals prices on the London Metal Exchange were mainly stronger this morning, Thursday May 20, on dip buying, while those on the Shanghai Futures Exchange were down across the board in reaction to the 3.5% average loss on the LME on Wednesday.

London Metal Exchange three-month copper futures hit $10,720 per tonne in May amid disruption from the Covid-19 pandemic and political tensions affecting material supply from mines.

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Brazil's northern ports - the so-called Northern Arc - will be pivotal in driving the country’s corn and soybean exports over the next decade due to the new investments that will continue to improve the region’s infrastructure, sources said.

The United States plans to “make up for lost time” in the battle against climate change by developing new technologies and investing in the products that will drive the transition to a global, low-carbon economy, according to the country’s Treasury chief, Janet Yellen.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Tuesday May 18, and once again recent dips have been short-lived and not that deep, suggesting sentiment remains robust.

Surging steel demand in the majority of global markets pushed prices up in most regions in the week to Friday May 14. Only the United States deep-sea ferrous scrap market remained inactive, while Chinese scrap prices fell victim to softer prices for finished steel products.

Soybean futures prices on the Chicago Mercantile Exchange climbed to their highest level since September 2012 after traders positioned themselves ahead of the World Agricultural Supply and Demand Estimates (Wasde) May report and against a backdrop of continued tight bean supply

Base metals prices on both the LME and SHFE were mainly weaker this morning, Friday May 14, and seem to have got some downward momentum, even though broader markets have seen a buy-the-dip mentality emerge.