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.

Hot-rolled coiled prices in the United States held essentially flat to begin February.

Base metals prices on the London Metal Exchange were up across the board this morning, Monday February 1, this despite weaker-than-expected manufacturing purchasing managers’ index (PMI) data out of China over the weekend.

Global ferrous scrap prices have yet to hit the buffers in their downward plunge. Buyers in Asia were holding back from purchases in the week ended Friday January 29, swooping in only for low-priced cargoes, but demand from China could support prices in the near term.

Taiwanese scrap buyers are swooping on import cargoes offered at low prices by traders desperate to offload materials amid the constant prices falls during the week to Friday January 29, markets sources told Fastmarkets.