LIVE FUTURES REPORT 17/02: SHFE base metals rangebound amid air of caution

Base metals prices on the Shanghai Futures Exchange were rangebound during morning trading on Monday February 17 with pessimism caused by the novel coronavirus (2019-nCoV) outbreak in China being tempered slightly by an announcement by the country’s finance minister over the weekend.

The minister, Liu Kun, wrote on Sunday in Qiushi, the Communist Party magazine, that his ministry would implement measures to reduce corporate taxes and cut unnecessary government expenses to counter the effects that novel coronavirus (2019-nCoV) was having on the country’s economy.
This follows an announcement last Friday that the ministry would allocate a second batch of subsidies worth 8 billion yuan ($1.14 billion) to go toward measures to contain the virus.

Copper was the biggest gainer on Monday morning, with its most-active April...


Karen Ng

February 17, 2020

06:21 GMT