March 2020

IN CASE YOU MISSED IT: 5 key stories from March 17

Here are five Fastmarkets stories you might have missed on Tuesday March 17 that are worth another look.

WEEKLY BASE METAL PREMIUMS REPORT: 17/03

A summary of base metals premiums from across the globe for the week to Tuesday March 17.

LIVE FUTURES REPORT 17/03: LME tin tumbles 7%; Ni closes below $11,800/t

London Metal Exchange three-month base metals prices largely traded down at the close on Tuesday March 17 with risk-aversion from the global spread of the coronavirus (CoV-2019) and associated corporate shutdowns weighing heavily on the complex.

Newmont 'ramps down' Yanacocha mine while Peru restricts travel

Newmont will "ramp down" mining at its Yanacocha asset in Peru after the country moved to restrict travel amid global contagion over the Covid-19 coronavirus (2019-nCoV) spread, it said.

Vale puts nickel-copper ops at Voisey's Bay under 4-week care, maintenance

Brazilian miner Vale has decided to ramp down production operations and put its nickel-copper mine at Voisey’s Bay, in Canada’s north-eastern region of Labrador, under care and maintenance for four weeks, the company said on Monday March 16.

LME to close London ring trading, primes full electronic trading for next week

The London Metal Exchange intends to suspend all ring trading and move to full electronic pricing from next week if the United Kingdom's current directives restricting the movement of people in a bid to stop the spread of the Covid-19 coronavirus (2019-nCoV) remain in place.

LIVE FUTURES REPORT 17/03: Fresh 43kt inflow caps LME copper price below $5,300/t; risk-aversion dominates

The three-month copper price on the London Metal Exchange was lower during morning trading on Tuesday March 17, with its price action consolidating at 2016-lows amid a fresh 42,900-tonne inflow, while nickel futures similarly failed to gather momentum across Asian trading hours.

MORNING VIEW: Metals prices consolidate, volatility likely to dominate

After a drop of 12.93% in the Dow Jones Industrial Average (DJIA) on Monday March 16, the futures in the pre-market are up by 4.96% this morning - close to the 5% limit.

LIVE FUTURES REPORT 17/03: SHFE base metals prices broadly down on elevated risk aversion; Pb down 1.7%

With the exception of that for zinc and nickel, base metals prices on the Shanghai Futures Exchange were down at the close of morning trading on Tuesday March 17, with the complex taking its cue from weakness in global equity markets.

LIVE FUTURES REPORT 16/03: LME copper price continues freefall amid high turnover; settles at 3.5yr low below $5,300/t

The three-month copper price on the London Metal Exchange continued its descent at the close of trading on Monday March 16, settling at its lowest level since November 2016 after breaching key support levels throughout the day.