Barring those for tin, base metals prices on the Shanghai Futures Exchange were all up during the morning trading session on Tuesday July 30, with the complex benefiting from rising hope amid continuing US-China trade talks.

China’s daily crude steel output rebounded in early April amid a recovery in domestic steel prices.

Japanese imported flat rolled steel stockpiles rose by 8.2% at the end of June, marking the first rise in three months.

Prices in most billet export markets were heading down in the week to Friday October 27, amid weakening demand for both semi-finished and finished steel products.

Investment in rail infrastructure and a reduction in bureaucracy are required to provide a platform for growth in Turkish steel exports, according to Aysen Ustunay, export manager at MMK Metalurji.

Prices for steel billet rose again in most global locations this week, amid a new round of increases in the costs of raw materials, but market participants reported weak buying activity and fears that prices could be close to a peak.

Base metals prices on the London Metal Exchange are up by an average of 0.5% this morning, Wednesday September 20. Most metals are in positive territory, with three-month copper prices up by 0.5% at $6,563 per tonne, although zinc prices, down by 0.2%, are bucking the uptrend. Volume has been below average with 4,335 lots traded as of 06:31 BST.

We were wary that the US Federal Open Market Committee (FOMC) statement could give the dollar a boost and that it could become a headwind for metals prices and that seems to have been the case. The base metals prices on the London Metal Exchange are down across the board by an average of 1.1% this morning, Thursday September 21.

Metal Bulletin reviews the major stories affecting the steel market over the past week.

China’s crude steel output retreated in late December following consecutive increases that began in mid-November.