- Write by:
-
Saturday, February 29, 2020 - 1:18:10 PM
-
601 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
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Zinc traded close to a one-year high as metals markets looked past delays to US monetary easing to focus on looming ...
Peru’s Las Bambas copper mine, owned by China’s MMG, is facing renewed blockades of a key transport route after failed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Copper traded near a 15-month high as supply concerns and brighter demand prospects triggered a slew of bullish calls on ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
No comments have been posted yet ...