February 2020

LIVE FUTURES REPORT 24/02: Fresh cancelation fails to bolster LME zinc price; copper slips below $5,700/t

The three-month zinc price on the London Metal Exchange was lower during morning trading on Monday February 24, with price action down by 2.4% and trading at its lowest level since July 2016, while copper futures also fell through nearby support levels.

MORNING VIEW: Markets focused on international spread of coronavirus, metals prices mainly weaker

Broader markets are seeing risk-off while they focus on the spread of the novel coronavirus (2019-nCoV) this morning, Monday February 24, after the number of cases and deaths escalated outside of China, especially in South Korea.

LIVE FUTURES REPORT 24/02: SHFE base metals prices pullback after coronavirus cases spike; tin up by 0.6%

Base metals traded on the Shanghai Futures Exchange were broadly down at the close of the morning trading session on Monday February 24, with sentiment hit by a spike in novel coronavirus (2019-nCoV) cases over the weekend.

IN CASE YOU MISSED IT: 5 key stories from February 21

Here are five Fastmarkets stories you might have missed on Friday February 21 that are worth another look.

BATTERY RAW MATERIALS MARKET REPORT 21/02: Cobalt hydroxide payables firm again amid nearby tightness

An overview of the battery raw materials markets and their price moves from the past week.

LIVE FUTURES REPORT 21/02: Downward pressure sees LME nickel price down 1.4%; lead fails to hold gains

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday February 21, closing at its lowest level since June 2019 against thin turnover, while lead futures failed to hold onto gains made earlier in the day.

AT A GLANCE: Vale records $1.56bln net loss in Q4 on impairment charges

Vale reported a net loss of $1.56 billion in the fourth quarter of 2019, compared with a net profit of $3.79 billion in the corresponding period a year earlier, due to impairment charges and provision expenses.

EUROPE STAINLESS STEEL: Prices stable, but March decreases expected on weaker nickel

The price of stainless steel in the European domestic market was unchanged in the week to Friday February 21, but decreases are expected for March due to weaker nickel values, sources told Fastmarkets.

COPPER CONCS SNAPSHOT: TC/RCs remain at 11-month high on increased buying interest

Fastmarkets’ copper concentrates treatment and refining charges (TC/RC) index remains at its highest level since March 2019 this week, with Chinese smelters more active on taking tonnages as production slowly comes back with logistics resumption.

Coronavirus disruptions in China – breakdown by province

Logistics disruptions across China have paralysed many of the country’s supply chains since the outbreak of a novel coronavirus infection forced authorities to clamp down on movements of material and people within the country.