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 vessels at Japanese ports has resulted in low liquidity for imported ferrous scrap in the key market of Vietnam in the week to March 19, market sources told Fastmarkets.

Import prices for heavy scrap (HS) in China moved down on Friday March 19 amid shipping difficulties and a drop in buying demand, sources told Fastmarkets.

Three-month base metals prices on the London Metal Exchange were down across the board during morning trading on Tuesday March 16, with tin’s price falling the most to $24,630 per tonne – this after the complex mostly ended in positive territory on Monday.

Base metals prices were mixed this morning, with those on the London Metal Exchange mainly weaker, while prices on the Shanghai Futures Exchange were more mixed this morning, Tuesday March 16, but Asian-Pacific equities were upbeat.

Markets are starting the week mixed with base metals prices and equities in different regions showing divergent performances this morning, Monday March 15.

Increasing scrap flows and bearish appetites led to softer prices in the majority of international steel scrap markets in the week to Friday March 12.

New transactions concluded for containerized steel scrap cargoes sold to Bangladesh fetched lower prices over the past week, sources told Fastmarkets.

Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were mixed this morning, Friday March 12, with prices generally consolidating after recent weakness/consolidation. A lack of follow-through selling suggests underlying sentiment is still bullish.

Economic and policy experts at aluminium, steel and scrap trade associations are hopeful about demand and policy prospects in 2021, but remain wary about potential problems that could still arise from the Covid-19 pandemic.