China faces an oversupply of alumina this year because of reduced demand for aluminium, according to a government report released last week.A restriction on the expansion of alumina capacity could offer a solution to the situation, according to an aluminium operations summary report released by the raw materials department of China's Ministry of Industry & Information Technology (MIIT)."The outloo...Read More
The London Metal Exchange confirmed in a written statement on Monday that a ring-dealing member employee has contracted the novel coronavirus (2019-nCoV), further jeopardizing trading activity at its open-outcry trading venue."The LME was informed on Sunday that one member of staff of an LME Ring-dealing member has been diagnosed with Covid-19. A number of precautionary measures have been taken, i...Read More
The three-month copper price on the London Metal Exchange was lower during morning trading on Monday March 16, slipping below the $5,400-per-tonne resistance level despite a sizable fresh cancelation, while the red metal's price continues to weaken with broad risk-aversion capping investment in commodity markets.Copper's underlying price on the LME was recently seen at $5,290 per tonne, its lowest...Read More
China's domestic hot-rolled coil prices gained on Monday March 16 in thin trading, boosted by a weekend buying spree following the news of the reserve ratio cut.DomesticEastern China (Shanghai): 3,510-3,530 yuan ($501-504) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,380 yuan per tonne, up 50-60 yuan per tonneMills in the north of China raised ex-works offers for flat steel inclu...Read More
The rout in global markets continued in early trading today, Monday March 16, with Asian equity indices down significantly and the pre-market Dow Jones Industrial Average Index (DJIA) futures already down by its 5% limit.Three-month base metals prices on the London Metal Exchange are down across the board by an average of 1.2%, in high volume of 11,892 lots, as at 6.43am London time. Bank of Japan...Read More
Key data from the Friday March 16 pricing session in London. Key drivers: Cobalt prices had increased following the coronavirus (2019-nCoV) outbreak, but now prices are declining amid slow trade and limited inquiries, with sellers cutting offers and increasingly...Read More
The European antimony price edged down for both grades on Friday March 13, ending the uptrend that started on January 29 on logistic constraints amid the coronavirus (Covid-19) outbreak, Fastmarkets heard.If the limited availability of material from China supported prices in January and February, the price driver has shifted to the decrease in demand in Europe, with the continent now labelled the...Read More
The domestic Chinese antimony price fell sharply in the week ended Friday March 13 after some suppliers cut their offer prices significantly to secure business and generate cash in a market where buying interest is scant, market participants said. Fastmarkets' assessment of antimony, MMTA standard grade II, ddp China slid for the second consecutive week to 38,000-39,500 yuan ($5,421-5,635) per ton...Read More
Lundin Mining has put its expansion of the Neves-Corvo zinc and lead mine in Portugal on hold, intending to limit the spread of the Covid 19 virus in the local area."As the workforce for the project includes many contract employees who travel from other regions of Portugal and internationally, the risk is that the virus could be brought to the Alentejo region by people travelling to...Read More
A sharp decline in market sentiment, linked to the spread of the coronavirus (2019-nCoV), has halted activity and reduced prices in the Japanese construction steel sector, steelmaker Tokyo Steel said.The major electric-arc furnace (EAF) producer announced on Monday March 16 it will slash its April prices for H and I-beam by ?7,000-11,000 ($65-102) per tonne month on month and drop its steel plate...Read More
Italian secondary aluminium producer Raffmetal will cease production from March 16-22 amid ongoing concerns from the spread of novel coronavirus (2019-nCoV) in the country, a source close to the matter told Fastmarkets on March 13.At the time of publication the company, Europe's largest secondary aluminium producer, had not responded to Fastmarkets' request for comment.However, it is understood th...Read More
Quantifying...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s publishe...Read More
Global risk-off selling intensifies Global markets...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
Aluminium Despite the broad-based selling in the LME...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download...Read More
Copper at its lowest since November...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as so...Read More
Prices more volatile, contango returns...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as...Read More
Nickel prices sold off again... The LME three-month...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the la...Read More
End of ‘low beta’...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it...Read More
Global risk sell-off intensifies The LME...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More