Nickel briquette premiums fall in the United States on declining spot demand, while all Chinese premiums rose on better arbitrage opportunities and European premiums were flat amid little trade in the week to Tuesday March 17.US briquette premiums slip while the World Health Organization declared Covid-19 a global pandemic on Wednesday March 10.Premiums rise in China, where the novel coronavirus (...Read More
Global zinc and lead premiums held firm in the week to Tuesday March 17 following the dent to physical appetites stemming from the global spread of novel coronavirus (2019-nCoV) while Asian markets began a partial recovery.Partial restarts in China enlivened spot demand for material, but this is yet to manifest in regional zinc and lead premiums.Automaker shutdowns have dented US' zinc and lead de...Read More
The London Metal Exchange three-month copper price was trading down 4.7% during the morning session on Wednesday March 18, with a second day of inflows into LME-approved global warehouses continuing to heap pressure on prices. Some 15,000 tonnes of copper was put back into global sheds as of 9am this morning - 8,800 tonnes of which arrived into Rotterdam while the remaining 6,200 tonnes was s...Read More
Despite massive rescue packages announced by governments around the world, equity indices are still falling - as are most of the base metals - this morning, Wednesday March 18.But we are starting to production halts emerge in the metals, so both the demand and supply sides of the supply/demand equation are now likely to be reined in. Although with economic activity in Europe slowing, demand is lik...Read More
Transport disruptions and dampened demand due to the novel coronavirus (2019-nCoV) pandemic kept aluminium premiums steady throughout the world over the past week, while the contango in the three-month/cash price spread on the London Metal Exchange encouraged market participants to hold on to metal.Illiquidity persisted amid lockdowns across Europe keeping premiums unchangedAsian markets waiting f...Read More
Cobalt sulfate prices fell below 50,000 yuan ($7,131) per tonne on Wednesday March 18, with the rapid spread of the novel coronavirus (2019-nCoV) outside China exacerbating concerns over slower growth in global electric vehicle (EV) production. Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis exw China, dropped to 47,000-49,000 yuan per tonne on Wednesday March 18, down 5.8% from 50...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday March 18.Key drivers Firm production at ferro-titanium plants supports alloy and titanium scrap prices against similar demand in end-user markets. Titanium scrap prices steady against strong alloy production. Market sources expect little change near term ahead of a...Read More
The feasibility study for an expansion of the currently idled First Cobalt cobalt refinery in Canada continues despite the novel coronavirus (2019-nCoV) outbreak, with a restart in the fourth quarter under consideration.The company is contemplating an initial recommissioning of the refinery in partnership with commodities miner and marketer Glencore before expanding production as early as the seco...Read More
Auryn Resources Inc, which is developing the Sombrero copper-gold project in southern Peru, has halted work after recalling all personnel from the field due to the novel coronavirus (2019-nCoV) pandemic, the company said. The decision was made prior to the Peruvian government mandating a temporary two-week border lockdown, with all work at public institutions also suspended for 15 days. "Such disr...Read More
While risk-off dominates and even though governments are prepared to throw money at the financial system and into economies and households, the likelihood is that more factories will close, household spending will fall, as will demand for raw materials, but there may be some dead cat bounces along the way.Partial and full lockdowns will hopefully mean the novel coronavirus (2019-nCoV) is brought u...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 72 points in pre-opening trade. The New York Stock Exchange announced a move to start fully electronic trading on Monday. Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for the March Philly Fed Index was 10.0 versus 36.7 in February. Actual was -12.7. Consensus for...Read More
Alumini Tips – Buy Alumini March at CMP 136.10 Add more Buy at price 135.10 & 134.50 with SL 133.40 for Target 138.90 – 139.90 – 141 Read More
LEADMINI TIPS TODAYLeadMini Tips Today – LeadMini Sell Call 2213 given at 136.90 Achieved 1st 135.90 & 2nd Target 135.40. CMP 135.20. profit of 1.5 x 2 lot = Rs 3000TIPS ID 2213 : Intraday Leadm Tips - SELL 2 lot LeadM at CMP 136.90 for Target 135.90 - 135.40 with SL Above price 138.05 Read More
Intraday Leadm Tips – SELL 2 lot LeadM at CMP 136.90 for Target 135.90 – 135.40 with SL Above price 138.05 Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 17 that are worth another look.Three more European car manufacturers are set to close and halt production in response to the spread of the coronavirus (2019-nCoV), Fastmarkets learned on March 17.The London Metal Exchange intends to suspend all ring trading and move to full electronic pricing from next week if the United King...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 17.Click on...Read More
London Metal Exchange three-month base metals prices largely traded down at the close on Tuesday March 17 with risk-aversion from the global spread of the coronavirus (CoV-2019) and associated corporate shutdowns weighing heavily on the complex."Global financial markets remain rattled while the virus wreaks havoc across Europe and the United States," Fastmarkets research analyst Andy Farida said....Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 17 that are worth another look.Three more European car manufacturers are set to close and halt production in response to the spread of the coronavirus (2019-nCoV), Fastmarkets learned on March 17.The London Metal Exchange intends to suspend all ring trading and move to full electronic pricing from next week if the United King...Read More
Roughly 6 million tonnes per year of alumina refinery capacity in China has been curtailed due to the 2019-nCoV coronavirus pandemic, opening opportunities for market participants in the West to sell extra material to the East asian country, a senior executive at Norsk Hydro has said.The shortfall has arisen with Chinese smelters continuing to produce material as normal despite the effects of the...Read More
Cerro Verde, the world's fourth-largest copper mine in output, will suspend operations and enter a 15-day care and maintenance period following the Peruvian government declaring a national state of emergency, owner and operator Freeport McMoRan said on Tuesday March 17.The 15-day period started on Monday March 16, with Cerro Verde working with authorities to 'be prepared and restart operations as...Read More