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.

The United States’ transition to new energy will require increased domestic mineral production, Energy Secretary Jennifer Granholm said on Tuesday March 9.

Base metals prices on the London Metal Exchange were weaker this morning, Monday March 8, but prices on the Shanghai Futures Exchange were mainly stronger while they caught up with the gains on the LME on Friday.

Hot-rolled coil prices in the United States have hit another all-time high, driven by supply shortages and strength in domestic ferrous scrap pricing.

Hot-rolled coil prices in the United States dipped day on day, but remain high due to an ongoing supply shortage and strong demand.