February 2020

Chinese buyers can apply for tariff exemptions on US copper, Al scrap imports from March

Chinese importers could be able to buy United States’ copper and aluminium scrap without the current 25% tariffs from July, China's Ministry of Finance Customs Department said in a notice on Tuesday February 18.

MJP Al stocks continue decline in Jan; Nagoya stocks slump 6.5%

Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama fell 2.8% month on month at the end of January 2020, according to data released by major Japanese trading house Marubeni Corp.

LIVE FUTURES REPORT 19/02: Backwardation in LME lead spreads widens; Al price down despite 15kt outflow

The London Metal Exchange base metals, except tin, were subject to stock moves in the morning session on Wednesday February 19, with LME three-month prices demonstrating mixed consolidation.

MORNING VIEW: Markets recover after Tuesday’s broad market dip; base metals prices mixed

After the broad-based dip on Tuesday February 18 that was partially triggered by Apple’s sales warning, markets have recovered on Wednesday with equity indices in Asia stronger, as are pre-market western equity indices.

LIVE FUTURES REPORT 19/02: SHFE base metals prices mixed; Ni underperforms again

Base metals prices on the Shanghai Futures Exchange were mixed at the close of morning trading on Wednesday February 19, with recent Chinese stimulus measures providing slight support to the complex while worries about the economic impact of the novel coronavirus (2019-nCoV) outbreak continue to loom.

GLOBAL ALUMINIUM WRAP: South Korean premiums tick up, rates elsewhere flat

Most regional spot aluminium premiums were flat on Tuesday February 18 on steady fundamentals, though premiums in South Korea edged up on stronger demand and tighter supply in that country.

IN CASE YOU MISSED IT: 5 key stories from February 18

Here are five Fastmarkets stories you might have missed on Tuesday February 18 that are worth another look.

WEEKLY BASE METAL PREMIUMS REPORT: 18/02

A summary of base metals premiums from across the globe for the week to Tuesday February 18.

LIVE FUTURES REPORT 18/02: LME nickel price sheds 2.2% to close below $13,000/t

London Metal Exchange three-month base metals prices, with the exception of lead, traded down at the close on Tuesday February 18, with any residual optimism capped by negative movements in global equities markets and restrictions in Chinese markets due to the novel coronavirus (2019-nCoV) outbreak.

Climbing inventories pressure China aluminium price

Increasing aluminium inventories pressured China’s aluminium price amid, generally, uninterrupted production from aluminium smelters and declining downstream demand as a result of the novel coronavirus (2019-nCoV) outbreak, several sources told Fastmarkets on Monday February 17.