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.

COKING COAL DAILY: Outlook bearish but spot prices hold firm

Seaborne coking coal prices were largely stable on Friday February 28, although some market participants in China said that a correction was likely due to rising concerns about the global macroeconomic situation given the spread of the novel coronavirus (2019-nCoV) outside China.

IRON ORE DAILY: Steel mills sound margins concerns

Seaborne iron ore prices dropped further on Friday February 28, with concerns about mills’ margins emerging among Chinese buyers as global macroeconomic sentiment continued to plummet.

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.

CHINA HRC: Buyers await lower export prices on weakening domestic market

China’s hot-rolled coil prices continued to fall on Friday February 28 amid thin trading, encouraging more overseas buyers to hold out for lower export offers.

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.

CHINA REBAR: Housing sector's tight finances slow down demand recovery

China’s domestic rebar prices tumbled further on Friday February 28 amid losses in the futures market and sustained weakness in demand from the construction sector.

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.

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.