Last Thursday’s brief correction in metals prices was just a pause in what is turning into a strong rally, with the three-month base metals prices traded on the London Metal Exchange up by an average of 0.6% on the morning of Monday February 25.

Concern started to spread in the global steel markets this week that trade with Iran is at risk since US President Donald Trump announced on May 8 that his country will withdraw from the nuclear-power deal with the Middle Eastern state.

Taiwan’s Feng Hsin Steel has decided to revamp its operations and cut production costs instead of resorting to importing low-priced billet from China like some of its peers have been doing.

Three-month base metals prices on the London Metal Exchange were up across the board on Friday December 7, with average gains of 0.6%. But trading remained choppy while market participants await greater direction.

Brazil-based steelmaker CSN is questioning the acquisition of local long steel producer Votorantim Siderurgia by ArcelorMittal’s Brazilian subsidiary.

Expectations have increased for China’s coke prices to bounce up, although some export deals were reported at lower levels in the past week.

Three-month base metals prices are up an average of 0.5% on the London Metal Exchange this morning, Tuesday May 2, with aluminium and lead prices slightly weaker while the rest are up between 0.3% for tin prices and 1.4% for zinc prices, with copper prices up 0.7% at $5,777 per tonne.

During the past couple of years, US steelmakers, especially on the carbon flat-rolled side, have been consistently reporting better margins, albeit after a horrendous 2015 when falling demand was exacerbated by high import volumes.

Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.4% this morning, Wednesday November 21.

Three-month base metals prices on the London Metal Exchange continued to give mixed performances this morning, Thursday November 22.