Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed during the morning of Thursday May 27, as were broader markets – are these pauses, or early signs of a stall?

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Turkish steel mills skipped the second working day of the week with no deep-sea bookings amid negative signals from the Chinese steel industry, market participants told Fastmarkets on Tuesday May 25.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly positive on the morning of Tuesday May 25, with only SHFE lead showing significant weakness.

Market chatter about China possibly imposing new export taxes for steel as part of commodity price cooling measures has been rampant in the past week, causing traders and market participants to re-think their trading strategies, and overseas buyers to consider a potential supply shortfall.

Base metals prices on the London Metal Exchange were mainly stronger this morning, Thursday May 20, on dip buying, while those on the Shanghai Futures Exchange were down across the board in reaction to the 3.5% average loss on the LME on Wednesday.

Seaborne coking coal prices surged up in both the cfr and fob markets on Friday May 14 due to increased buying interest and positive market sentiment in both markets.

Base metals prices on both the LME and SHFE were mainly weaker this morning, Thursday May 13, this after some choppy trading in recent days and the greater-than-expected pick-up in the US Consumer Price Index (CPI) on Wednesday.

Turkish steel producers continued to pay higher prices for deep-sea scrap after securing more billet sales into China, market participants told Fastmarkets on Tuesday May 11.

China’s new and stricter steel capacity swap ratios will cool the overheated steelmaking raw materials market and pave the way for more electric-arc furnaces to be used in its mammoth steel industry, market sources told Fastmarkets this week.