February 2020

LIVE FUTURES REPORT 20/02: LME zinc price tops losses in 1.3% slide; nickel closes below $12,700

The three-month zinc price on the London Metal Exchange was lower at the close of trading on Thursday February 20, falling by more than 1% but holding above the nearby support level, while nickel failed to reduce its losses despite low turnover.

ALUMINA ROUND-UP: Australia fob index at five-month high on new China deal

Alumina prices on an fob Australia basis have gone up over the past week due to a high-priced deal for material destined for China, but market participants were still searching for clarity on market conditions on Thursday February 20.

COKING COAL DAILY: Second-tier prices surge amid tight supply

Trading activity involving second-tier seaborne coking coal pushed up prices on Thursday February 20, though doubts lingered over recent strength of the market.

CHINA HRC: Prices gain strength on work resumption progress

China’s hot-rolled coil prices rose on Thursday February 20 amid optimism attributed to the progress of work resumption in downstream markets in the wake of the novel coronavirus (2019-nCoV) outbreak.

LIVE FUTURES REPORT 20/02: Fresh inflows pressure LME nickel price below $12,800/t; Al sinks despite stock drawdown

The three-month nickel price on the London Metal Exchange was lower during morning trading on Thursday February 20, with price action pressured by continued inflows of material into LME-registered warehouses, while aluminium futures neared the $1,700-per-tonne support level.

CHINA REBAR: Prices mixed amid partial resumption of construction

China’s domestic rebar prices were mixed on Thursday February 20, with a partial resumption of work by the construction sector providing support in the eastern region while the cold weather in the north kept demand in check.

MORNING VIEW: Markets focused on coronavirus developments, less so on impact to supply chains

Equity markets remain buoyant in Asia, but pre-market western equity indices have started to weaken, while metals are mixed this morning, Thursday February 20.

SHFE to delist Norilsk Combine H-1 brand of nickel cathode

The Shanghai Futures Exchange will delist the Norilsk Combine H-1 brand of refined nickel cathode produced by Russia’s Nornickel, effective from March 17, 2020, the bourse announced on Tuesday February 18.

Coronavirus outbreak keeping China’s stainless steel market subdued

China’s stainless steel market saw some activity over the past week following several weeks of stagnation as a result of the novel coronavirus (2019-nCoV) outbreak in the country.

LIVE FUTURES REPORT 20/02: Firm dollar pressures SHFE base metals prices

With the exception of tin that was little changed, base metals prices on the Shanghai Futures Exchange were down at the close of morning trading on Thursday February 20, with the complex coming under pressure from a strengthening dollar index.