February 2020

Rusal sales volumes increase in Q4, FY 2019; warns of bearish coronavirus effects on market

Rusal’s aluminium sales volumes rose in the fourth quarter and year ended December 31 2019, but novel coronavirus-related effects on the economy could be bearish for the aluminium market, the company warned.

FOCUS: MJP Q2 premium under pressure from Covid-19 concerns, market says

The global novel coronavirus (2019-nCoV) outbreak is putting bearish pressure on negotiations for the second-quarter MJP aluminium premium, according to market participants who told Fastmarkets they expect the premium to fall year on year.

SHFE STOCKS REPORT 28/02: Zinc stocks gain 12% on weak downstream demand; dip-buying reduces tin inventory

Zinc recorded the largest percentage increase in stocks in Shanghai Futures Exchange-approved warehouses in the week ending Friday February 28, with inventories climbing up by 11.8% week on week.

NEWSBREAK: MJP aluminum Q2 offers at $90/t – sources

A producer has offered second-quarter 2020 supply of aluminium to main Japanese ports (MJP) at a premium of $90 per tonne, according to market sources.

INTL COPPER CONF: Over 90% of current Chinese copper scrap imports eligible for renaming - Jinrui Futures

The vast majority of copper and brass scrap imported into China could meet the criteria of reclassification as copper renewable materials, according to research by Jinrui Futures.

LIVE FUTURES REPORT 28/02: LME aluminium price at 2016 low; complex down on virus concerns

Base metals prices on the London Metal Exchange were lower across the board again during morning trading on Friday February 28, due to the global coronavirus outbreak continuing to put bearish pressure on the market.

FOCUS: Coronavirus poses considerable short-term risk to Chinese nickel market

The novel coronavirus (2019-nCoV) that originated in China but has since spread to more than 40 countries poses a serious threat to the Chinese nickel market, with demand, and therefore prices, said to be at considerable risk in the short term.

MORNING VIEW: Metals prices weaker as equities remain in freefall

Growing fears in recent days that the novel coronavirus (2019-nCoV) epidemic is becoming a pandemic have given global equity markets a reality check and base metals that had initially reacted more than equities are now down less than equities, so may have some catching up to do.

LIVE FUTURES REPORT 28/02: Mounting coronavirus concerns weigh on SHFE base metals

Base metals prices on the Shanghai Futures Exchange slid across the board at the close of the morning trade session on Friday February 28 amid pessimistic sentiment caused by tumbling global equity markets.

IN CASE YOU MISSED IT: 5 key stories from February 27

Here are five Fastmarkets stories you might have missed on Thursday February 27 that are worth another look.