Global scrap metal exports were valued at $124.8 billion in 2011, marking a “banner year for global scrap demand”, the Institute of Scrap Recycling Industries (ISRI) said in a report.

Charlotte Radford takes a look back at some of the key news and price moves from the past five days in the metals markets.

After some consolidation at the end of last week, further strength has returned to the base metals this week, with copper prices pushing the envelope on the upside, while the rest of the complex has also seen prices head back towards recent highs.

Base metals prices on the London Metal Exchange were all up during Asian morning trading on Monday December 31 amid renewed optimism in the market after US President Donald Trump reported “big progress” in trade talks with his Chinese counterpart, Xi Jinping.

Lead’s three-month price on the London Metal Exchange was lower during morning trading on Friday June 7, with price action falling back to $1,860 per tonne after breaching the nearby $1,900 per tonne resistance level on Thursday following a 2% climb.

Base metals prices on the Shanghai Futures Exchange were on divergent paths during morning trading on Monday September 16, with risk aversion among investors heightening following an attack on Saudi Arabian oil facilities over the weekend.

With the exception of nickel, base metals prices on the Shanghai Futures Exchange were little changed during morning trading on Tuesday August 13 after market participants’ appetite for commodity investment was dampened by continuing geopolitical and trade tensions.

Most of the base metals prices are weaker this morning, Wednesday May 31, the exception is three-month copper prices on the London Metal Exchange that are up 0.3% at $5,677 per tonne. The other LME metals are down an average of 0.6%, although that is skewed by a 2.4% decline in nickel prices to $8,890 per tonne.

Big River Steel plans to partner with Koch Metallics LLC in an effort to overhaul how steel, scrap and other metallics are bought and sold, the steelmaker’s top executive said.

Base metals prices on the London Metal Exchange are down across the board this morning, Tuesday May 16, with prices down an average of 0.6%.