February 2020

MORNING VIEW: Metals prices generally buoyant after China adds further financial stimulus

China’s race to contain the coronavirus (2019-nCov), combined with its financial stimulus, are providing the markets with more than enough hope, with risk-on being seen across most of the metals and many equity indices, especially in western markets, this morning, Monday February 17.

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.

IN CASE YOU MISSED IT: 5 key stories from February 14

Here are five Fastmarkets MB stories you might have missed on Friday February 14 that are worth another look.

GLOBAL ALUMINIUM BILLET WRAP: European premiums rise on bullish Q2 negotiations

Strong demand and bullish negotiations for second-quarter business pushed aluminium billet premiums in Europe higher on Friday February 14, while other global premiums were unchanged.

US aluminium scrap turnings price up on export demand

The United States' aluminium scrap turnings price ticked up slightly this past week due to continued interest from exporters, sources said on Thursday February 13.

ALUMINIUM FOUNDRY WRAP: Oversupply forces US premium to fresh low; European premiums flat

The US primary foundry alloy premium has hit an all-time low, with oversupply in the region the main reason for the downtrend.

LIVE FUTURES REPORT 14/02: LME copper price fails to breach $5,800/t, nickel above $13,000/t

Copper and nickel prices ended the trading week higher on London Metal Exchange on Friday February 14 than a week ago although aluminium and zinc were depressed.

EC opens anti-dumping investigation into Chinese aluminium extrusions

The European Commission has opened an anti-dumping investigation into aluminium extrusions originating from China, European Aluminium said on Friday February 14.

LIVE FUTURES REPORT 14/02: Fresh 2.5kt inflow caps LME zinc price; Al down 1% despite stock drawdowns

The three-month zinc price on the London Metal Exchange was lower during morning trading on Friday February 14, with positive price action stymied by a fresh inflow of some 2,475 tonnes, while ongoing drawdowns in aluminium failed to bolster its falling price.

SHFE STOCKS REPORT 14/02: Base metals stocks continue to rise in China

Deliverable stocks for all base metals except tin and nickel in Shanghai Futures Exchange-approved warehouses soared in the week to Friday February 14 because downstream operations have not fully resumed after the Lunar New Year holiday due to the outbreak of the novel coronavirus (2019-nCoV) in China.