The metals were looking robust this morning, Wednesday November 18, and for the most part are managing to drive higher despite concerns about the rapid spread of Covid-19 and some mixed economic data of late.

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.

US hot-rolled coil prices continue to hover around $36 per hundredweight ($720 per ton) amid fears that scant spot availability could snarl downstream supply chains, market participants said.

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.

A radical shake-up of the European Union's waste shipment regulations could lead to a total ban or the implementation of controls on scrap metal exports from the territory, Fastmarkets understands.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly lower this morning, Tuesday November 10, while prices consolidated after Monday’s double dose of positive news - that of Joe Biden winning the US presidential election and Pfizer announcing progress toward a potential Covid-19 vaccine.

Mitsui is to sell all of its 22.63% stake in Chile's Caserones copper mine, after posting a capital loss of more than ¥7 billion ($67.5 million), the Japanese company said on Monday November 9.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly stronger this morning, Monday November 9, after markets reacted positively to Joe Biden winning the US presidential election and the resulting weaker dollar.

Market participants in China are increasingly confident that Chinese authorities will revive steel scrap imports into the country in 2021 following the release of new domestic scrap classification standards.