The supply shortage in the European steel market, which has been driving up domestic prices since late 2020, will persist until the end of this year at the very least, market sources told Fastmarkets.

Rebounds were under way in the base metals complex in London this morning, Friday June 18, while in Shanghai the base metals mostly reflected the weakness seen on the London Metal Exchange on Thursday.

Base metals prices on the Shanghai Futures Exchange, apart from those for lead, were up during morning trading on Tuesday July 6. Those on the London Metal Exchange were mixed, but that was after a generally positive day on Monday.

Demand for both domestic and imported scrap continued to be low in the China market on Friday July 2, market sources told Fastmarkets.

Ferrous markets are volatile, and 2020 marked one of the most up-and-down years for steel pricing in recent memory, but perhaps no year was as unpredictable as 2008.

Ferrous markets are volatile, and 2020 marked one of the most up-and-down years for steel pricing in recent memory, but perhaps no year was as unpredictable as 2008.

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.

Fastmarkets proposes to launch a weekly Poland domestic steel wire rod (drawing quality) price assessment to complement Fastmarkets’ existing suite of European long steel prices.

Base metals prices on the London Metal Exchange were up across the board this morning, Wednesday July 7, suggesting dip buying after Tuesday’s weakness that saw copper, aluminium and nickel fall by 2%, or more.

The latest news and price moves to start the Asian day on Wednesday December 12.