March 2020

EU CARMAKER CLOSURES 23/03: Ford UK shuts doors; aluminium supply concerns build

Automotive manufacturers in the UK have announced production suspensions after measures taken by European governments to restrict the spread of the 2019-nCoV coronavirus pandemic led to a series of closures among other carmakers, creating problems that affect the supply chain and manufacturing.

LIVE FUTURES REPORT 23/03: LME copper near $4,500/t in 3% dip; nickel falls after fresh rewarranting

The London Metal Exchange three-month copper price was lower during morning trading on Monday March 23, with continued selling pressure pushing copper to test support at $4,500 per tonne, while a rewarranting of 4,566 tonnes led to nickel's decline this morning.

MORNING VIEW: Selling dominates again after brief pause at end of last week

The rebounds in the metals toward the end of last week do seem to have been countertrend moves as expected; this morning, Monday March 23, the base metals are down across the board on the London Metal Exchange and Shanghai Futures Exchange.

LIVE FUTURES REPORT 23/03: SHFE base metals prices slide amid firm dollar, coronavirus-related lockdowns

Base metals prices on the Shanghai Futures Exchange were down across the board at the close of morning trading on Monday March 23, with tin leading the complex lower with a fall of 5.5%

IN CASE YOU MISSED IT: 5 key stories from March 20

Here are five Fastmarkets stories you might have missed on Friday March 20 that are worth another look.

US aluminium scrap industry slowing on virus concerns

Aluminium scrap prices in the United States were steady to weak as the impact of the novel coronavirus spread started to hit the industry, and some market participants continued to operate this past week despite business closures in the automotive industry and beyond.

LIVE FUTURES REPORT 20/03: LME copper price closes well below $5,000/t

The copper price closed below $5,000 per tonne on the London Metal Exchange, having traded no higher than $4,938 per tonne earlier on Friday March 20.

FOCUS: Low LME Al price has smelters watching margins; raw materials react

The falling price of aluminium on the London Metal Exchange, combined with a weakening supply picture in Europe, is putting pressure on smelters’ profit margins, but there are no reports of production cuts in the market yet, Fastmarkets understands.

SHFE STOCKS REPORT 20/03: lead stocks tumble by 32%; aluminium up by nearly 3%

Lead stocks in Shanghai Futures Exchange-approved warehouses slumped the most of all the base metals in percentage terms - by 31.9% - to 22,514 tonnes in the week to Friday March 20.

Virus hits Chinese non-ferrous scrap processors hard; capacity in half - CMRA

Chinese non-ferrous scrap processors have halved their operation capacity while demand for copper semi-finished products, auto parts and battery waned following the coronavirus (2019-nCoV) outbreak for the first quarter, according to an industry briefing on scrap metal.