Hot-rolled coil prices in the United States have resumed their uptrend, with buyers on the sidelines waiting for mills to open their order books amid limited material availability, sources told Fastmarkets.

The base metals remain upbeat this morning, Wednesday December 9, with all the metals on the London Metal Exchange in positive territory on hopes that a US stimulus package may be on the way.

Hot-rolled coil prices in the United States continue to hover near their highest levels since August 2018, with buyers preparing for still more increases from the domestic mills.

The base metals remain upbeat this morning, Tuesday December 8, and the underlying story remains the same, infrastructure spending, economic recovery, a mass of liquidity and the potential for more US stimulus.

Hot-rolled coil prices in the United States have shot past $42.50 per hundredweight ($850 per short ton), and there is little on the horizon to stop them from hitting $45 per cwt or even $50 per cwt, market participants said.

Nearly two months after Chinese steel mills were verbally notified to halt imports of Australian coal, market participants and industry analysts tell Fastmarkets about the consequences of the ban and their predictions for its future.

Hot-rolled coil prices in the United States are testing highs not seen since the Section 232 market shock in 2018 and might soon be pushing up against highs last seen in 2008, in the heady days before the financial crisis.

Hot-rolled coil prices in the United States have held above $40 per hundredweight ($800 per short ton) while the availability of spot tons remains limited, according to sources.

Hot-rolled coil prices in the United States climbed over $40 per hundredweight ($800 per short ton) for the first time since 2018 after more buyers chased fewer spot tons at the domestic mills.

Base metals prices on the London Metal Exchange were once again mainly stronger this morning, Tuesday December 1, helped by strong Chinese Caixin manufacturing purchasing managers’ index (PMI) data, but Shanghai Futures Exchange prices were more polarized.