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Base metals prices on the London Metal Exchange were weaker this morning, Monday March 8, but prices on the Shanghai Futures Exchange were mainly stronger while they caught up with the gains on the LME on Friday.
Steel scrap prices continued to surge this week due to sustained demand from buyers in all markets, with the exception of India. Downstream steel prices have supported raw material price increases in Asia, with buyers melting scrap to feed demand for billet and long steel products.
Prices for shredded steel scrap imported into India and Pakistan were largely unchanged over the week to Friday March 5 on lackluster interest among mills, sources have told Fastmarkets.
Low-carbon primary aluminium is not yet commanding a premium in Europe but deals have been concluded with a low-carbon premium for aluminium billet and slab, participants told Fastmarkets.
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