Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part weaker this morning, Friday January 29, with aluminium bucking the trend on both exchanges and March tin on the SHFE also higher.
Base metals prices on the London Metal Exchange were up across the board this morning, Monday February 1, this despite weaker-than-expected manufacturing purchasing managers’ index (PMI) data out of China over the weekend.
The latest forecasts from Fastmarkets’ team of analysts are ready to view.
Base metals prices on the London Metal Exchange were mainly weaker, while those on the Shanghai Futures Exchange were mainly firmer this morning, Thursday February 4, with the weaker dollar likely weighing on dollar-denominated prices.
The prospect of more than 5 million tons of additional flat-rolled steel production starting up in the United States by the end of this year has convinced some market participants that the current run of all-time record-high sheet prices must come to a screeching halt by summer.
Even with Chinese market participants on holiday, base metals prices on the London Metal Exchange have for the most part been bullish on Monday February 15, with the exception of zinc.
China will actively promote the development of offshore wind power as part of its effort to build clean energy infrastructure across the country, according to a carbon neutrality action plan issued by State Grid Corporation of China on Monday March 1.
The UK steel industry is a key focus of the British government’s £1 billion ($1.4 billion) Industrial Decarbonization Strategy, which is intended to create the world’s first low-carbon industrial sector.
The key containerized ferrous scrap import market of Taiwan continued to witness price gains this week amid tight supply of United States- and Japan-origin materials, sources told Fastmarkets.
Tata Steel’s recycling business in India is to offer domestically produced shredded material to the Indian market, adding to its existing offering, the company told Fastmarkets on Wednesday April 7.
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