LIVE FUTURES REPORT 06/02: SHFE base metals rise on emergence of promising cure for coronavirus

Base metals prices on the Shanghai Futures Exchange edged up across the board during the morning trading session on Thursday February 6 on optimism over the emergence of a potential treatment for the novel coronavirus (2019-nCoV) that is spreading across the world.

“It was another strong day for risk, as markets pondered Chinese work restrictions possibly easing next week and the potential of a coronavirus vaccine,” ANZ analyst Kishti Sen said in morning note on Thursday. Sen was referring to plans by the Chinese government to commence clinical trials of Remdesivir, an experimental drug developed by American biotechnology company Gilead Sciences’, on patients with severe cases of the coronavirus in Wuhan, in central China’s Hubei province. “Reports of a patient in the United States improving after taking the drug have raised...

Published

Violet Li

February 06, 2020

04:51 GMT

Shanghai