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The metals and mining markets are constantly changing. Stay connected to the stories driving change across the global metals markets, including the lasting effect of Russia’s invasion of Ukraine, energy price hikes, trade flow disruptions and the pull of decarbonization targets.
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China’s “unpredictable political moves” in relation to coking coal from Australia has driven some Chinese steel mills to increase their contractual supplies of the steelmaking raw material from elsewhere, sources told Fastmarkets this week.
Hot-rolled coil prices in the United States have risen yet again to an all-time high after buyers perceived that the tight availability of spot material likely will not loosen up before domestic mills begin a series of maintenance outages.
The European Commission (EC) has decided not to impose preliminary anti-subsidy duties on hot-rolled coil originating from Turkey.
For a fourth trading day in a row, copper’s three-month price on the London metal Exchange rose to a new year-to-date high on Tuesday February 23, while the rest of the base metals traded slightly lower than where they were on Monday, when they all reached fresh 2021 highs.
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed, although copper prices on both exchanges remain strong this morning, Tuesday February 23, while tightness on the LME dominates.
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up significantly across the board this morning, Monday February 22, with all base metals on the LME setting fresh multi- month or year highs.
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