Base metals prices on the London Metal Exchange were mainly weaker this morning, Monday February 8, while those on the Shanghai Futures Exchange were mostly firmer, but this comes after a strong performance on the LME on Friday, when prices closed up by an average of 1.7%.

Hot-rolled coil prices in the United States have remained at an all-time high while mills have benefited from a tight market, Fastmarkets has learned.

Turkey came back to the deep-sea export markets in the week ended Friday February 5, capitalizing on lower prices, while buying appetite in the Asian markets was subdued by the imminent Lunar New Year holiday.

Three-month base metals prices on the London Metal Exchange were up across the board on the morning of Friday February 5, led by a 1.4% gain in nickel, with the US Dollar Index easing after reaching a three-month high on Thursday.

With the exception of tin, base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were firmer this morning, Friday February 5, suggesting there is little appetite for follow-through selling after recent bouts of weakness.

Hot-rolled coil prices in the United States have reached an all-time high, supported by strong demand and extremely tight supply, Fastmarkets has learned.

Hot-rolled coil prices in the United States have remained in the $57- to $58-per-hundredweight ($1,140- to $1,160-per-short-ton) range, with most market participants indicating that the market has not yet reached its tipping point.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly weaker this morning, Wednesday February 3, with zinc prices bucking the trend.

Market participants in the aluminium industry are calling for more transparency in low-carbon aluminium pricing, following recent global initiatives to lower carbon emissions that have created greater demand for such products.

The American Metals Supply Chain Institute (AMSCI) is urging President Joe Biden to eliminate steel and aluminium tariffs in an effort to lower domestic costs and boost employment in the United States' metals supply chain.