Hot-rolled coil prices in the United States dipped marginally on Tuesday December 29, moving just 7 cents per lb below the more than 12-year high reached a day earlier.

The United States Commerce Department is making changes to the way it administers the Section 232 tariff exclusion process.

Hot-rolled coil prices in the United States continue at record highs, with tags at or above $50 per hundredweight ($1,000 per short ton) - a level last seen during the bull rush of 2008.

Import prices for containerized ferrous scrap into Taiwan continued on an uptrend in the week to Thursday December 24 amid limited supply and strong demand.

The new coronavirus strain found in the United Kingdom has raised fears of scrap supply shortages which could feed the runaway prices in Asia, market sources told Fastmarkets in the week to Thursday December 24.

Base metals prices on the Shanghai Futures Exchange were up across the board this morning, Thursday December 24, while those on the London Metal Exchange were mixed.

Hot-rolled coil prices in the United States have moved above $50 per hundredweight ($1,000 per short ton) for the first time since early September 2008 thanks to a continuing supply shortage.

Nickel’s three-month price on the London Metal Exchange was down by 1.6% during morning trading on Tuesday December 22, with the rest of the complex mostly trading lower given the spread of a new variant of Covid-19 across Europe.

Base metals prices on the Shanghai Futures Exchange were down across the board this morning, Tuesday December 22, as were most of the metals on the London Metal Exchange, with the exception of tin.

Hot-rolled coil prices in the United States have climbed above $49.50 per hundredweight ($990 per short ton), while buyers have voiced concerns that the rapid run-up in prices may mean a potential inventory devaluation in the future.