Copper prices on the Shanghai Futures Exchange fell during Asian morning trading on Wednesday, reversing the gains seen on Tuesday, with the red metal’s prices coming under pressure from a strengthening dollar.
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The US Midwest aluminium premium has slipped again despite the looming deadline for temporary Section 232 exemptions that President Donald Trump established – and later extended – for certain countries and regions.
Chinese vanadium exporters held prices steady last week amid sluggish trading activity, while European ferro-vanadium prices bounced back due to tightening inventories.
The Brazilian flat steel distribution sector has reduced its deliveries to only 10% of the usual average this week due to a nationwide truck-driver strike.
Plate prices in the United States remained flat as lead times stretch into the typically slower summer months ahead of a key Section 232 deadline.
US domestic and import merchant bar prices are staying put as market participants await the Trump administration’s next decision on the Section 232 tariffs on June 1.