The Coalition of American Metal Manufacturers and Users (CAMMU) is calling on United States President Joe Biden to end the Section 232 steel and aluminium tariffs, a position that puts it at odds with groups representing domestic steel producers.

China has further diversified the list of countries supplying heavy scrap (HS) imports, with recent deals from both South Korea and Singapore, market participants told Fastmarkets on Wednesday February 10.

Hot-rolled coil prices in the United States slipped from an all-time high while market participants debated whether the rally had run its course.

With the exception of tin, base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were firmer this morning, Tuesday February 9, as were the precious metals and oil, while the US dollar continued with its recent pullback.

Spot hot-rolled coil prices in the United States remained stable to begin the week.

The United States Court of International Trade (CIT) upheld Section 232 tariffs on steel imports, ruling against steel consumers who argued that former President Donald Trump imposed the duties incorrectly.

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.