February 2020

LIVE FUTURES REPORT 28/02:LME lead briefly slips below $1,800 mark; backwardation continues

The London Metal Exchange three-month lead price slipped below $1,800 per tonne temporarily on Friday February 28, on a day that saw just over 6,000 lots traded.

INTL COPPER CONF: Miners must tackle environmental hurdles for sustainable industry development - panel

Mining companies must confront the environmental pressures facing the industry to safeguard progress across global operations, panelists at Fastmarkets’ International Copper Conference in Amsterdam said on Thursday February 27.

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.

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.

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.

US brass scrap prices rise on export demand

The discounts for brass mill No1 copper and for brass ingot makers’ light copper scrap tightened in the week to Wednesday February 26, moving in tandem with the falling Comex copper price, but increased export demand supported most brass scrap tags.

LIVE FUTURES REPORT 27/02: LME zinc price falls further amid low turnover; aluminium stays below $1,700

The London Metal Exchange three-month zinc price trended lower over the course of Thursday February 27, briefly touching an intraday high of $2,057 per tonne before falling to a closing price of $2,012 per tonne amid a turnover of fewer than 10,000 lots.