- Write by:
-
Saturday, February 29, 2020 - 1:18:10 PM
-
604 Visit
-
Print
Mining News Pro - Copper and zinc inventories in warehouses tracked by the Shanghai Futures Exchange (ShFE) jumped to their highest level in nearly three years on Friday as the coronavirus outbreak hurt demand.
According to Mining News Pro - Copper stockpiles rose 4.1% to 310,760 tonnes this week, while zinc inventories were up 11.8% to 160,011 tonnes, each at their highest level since the week ended April 7, 2017, ShFE weekly data released on Friday showed.
The most traded ShFE zinc contract dropped as much as 5% on Friday, while benchmark three-month zinc on the London Metal Exchange (LME) was heading towards its biggest weekly decline since September 2015, down 6.3% on a weekly basis as of 0806 GMT.
Aluminum inventories in warehouses advanced 7.2% to 439,087 tonnes, highest since June 14, 2019, the data showed.
Countries on three continents reported their first cases of the coronavirus on Friday as the world prepared for a pandemic of the disease, pushing global share markets heading for their worst week since the 2008 financial crisis.
Chinese authorities should take some non-ferrous metals off producers’ own stocks to reduce their pressure as demand for copper and aluminum remains weak, the China Nonferrous Metals Industry Association said on Thursday, noting major smelters had managed to maintain “normal production”.
Short Link:
https://www.miningnews.ir/En/News/494393
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an ...
Top copper producer Codelco reported a decline in quarterly output due to lower quality ore at its aging Chilean mines — ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Chile President Gabriel Boric said on Thursday he is targeting an increase in the country’s annual copper output by 1 ...
Brazilian miner Vale SA sees no impact from BHP Group’s bid for Anglo American on the latter’s Minas-Rio project, its ...
Copper miner Antofagasta Plc is holding meetings with investors this week for its first dollar bond offering in nearly ...
No comments have been posted yet ...