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Investing.com -- Metal prices increased across the board on Tuesday, with all major metals posting gains against the previous close.
Palladium led the advances with a 2.11% increase to $1,447 per ounce, while platinum rose 1.53% to $1,598 per ounce. Silver gained 1.13% to $51.08 per ounce, and gold added 0.63% to reach $4,142 per ounce.
Base metals also strengthened, with zinc climbing 0.80% to $1.40 per pound, aluminum up 0.75% to $1.30 per pound, copper increasing 0.74% to $4.90 per pound, lead rising 0.56% to $0.93 per pound, and nickel gaining 0.32% to $6.85 per pound.
In iron ore markets, the most-traded January 2026 contract on the Dalian Exchange increased 0.3% day-over-day to approximately 764 yuan per metric ton ($107 per metric ton). Coking coal futures on the same exchange rose more substantially, up 2.6% day-over-day to around 1,180 yuan per metric ton.
The U.S. Midwest aluminum premium decreased 0.8% day-over-day on Monday to approximately $0.88 per pound, representing a 0.9% week-over-week decline but remaining 13.2% higher month-over-month and 302.3% higher year-over-year.
In steel markets, Nucor published its weekly Consumer Spot Price, setting the hot-rolled coil (HRC) base price at $895 per short ton for the week of November 10, marking a $5 increase week-over-week and the third consecutive weekly rise.
U.S. steel capacity utilization improved to 76.7% for the week ended November 8, up from 76.0% the prior week and 72.6% in the same period last year. Raw steel output increased 1.0% week-over-week to 1.758 million net tons, representing a 9.1% year-over-year increase. Year-to-date steel production is up 3.1% compared to the same period last year, reaching approximately 77.2 million metric tons.
Indian steel markets showed mixed performance on Monday, with spot HRC prices declining due to ongoing demand weakness, while rebar prices increased slightly on firm offers. Market sources indicated that the demand environment remains lackluster with ample supply.
Iron ore shipments from Australia and Brazil decreased 9.0% for the period of November 3-9, with total shipments to global destinations from 20 ports and 17 mining companies falling to 24.4 million metric tons.
Global thermal coal prices declined on Monday, with December API2 (Europe) decreasing 0.6% day-over-day to approximately $99 per ton, API4 (South Africa) falling 0.6% to around $89 per ton, and Newcastle (Australia) dropping 0.8% to about $114 per ton. Despite the daily decline, these thermal coal prices remain higher on weekly and monthly comparisons.
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