US copper scrap exporters are waiting to see how China’s new regulations affect the flow of scrap metal to the Asian country, which could have a significant impact on domestic copper scrap prices.

Hot-rolled coil prices in the United States have shot above $37 per hundredweight ($740 per short ton) for the first time in nearly two years on a supply-chain squeeze potentially made worse by rising Covid-19 infections, market participants said.

Hot-rolled coil prices in the United States held steady while more service centers tried and failed to enter the spot market for January 2021 shipments, with some buyers now unable to supply customers with enough tonnage to fulfill downstream needs.

Hot-rolled coil prices in the United States have continued to climb amid an ongoing supply squeeze and robust overall market fundamentals, Fastmarkets has learned.

Russia-based steelmaker NLMK's US subsidiary has reached a settlement with the United States government on a lawsuit regarding Section 232 tariffs on steel imports.

After the outbreak of the global pandemic, governments around the world sought measures to relieve the economic pressures of imposed lockdowns, mainly in the form of stimulus packages.

Improving demand for finished and semi-finished steel products across the major outlets has increased scrap prices in the major markets over the week to Friday November 13.

A lack of offers in the market from suppliers, together with worsening problems with container freight, combined to raise Taiwan import scrap prices in the week to Friday November 13.

Fast-rising costs for container freight on a number of major shipping routes are causing disruption in trade flows for minerals and metals alike, sources told Fastmarkets on Thursday November 12.

Hot-rolled coil prices in the United States have inched up further amid tight supply, but market participants questioned how long the recent high prices would last.