The sell-off of Chinese steel futures this morning is a sign that “worse is to come” for global steel prices,
market sources told Fastmarkets on February 3.
Canadian copper producer Taseko
has decided to take action to protect itself against the tumbling London Metal Exchange copper price.
The UG2 chrome ore and ferro-chrome alloy markets in China were stable
over the week ending on Friday January 31, although some market participants think travel restrictions could push up prices when buyers return from the Chinese New Year holiday.
The seaborne prices for both high and low-grade manganese ore in China ticked down
in the week to January 31 in response to weakening sentiment amid the worsening coronavirus outbreak.
Cobalt prices held on to their recent gains
on February 3, finding support because of the limited supplies of readily available material.