Sellers of spot copper cathode cut offers on the morning of Friday May 8 as they were keen to cash in while a further rally in copper futures sidelined downstream consumers. 

Stringent coronavirus containment measures imposed by world authorities in March began to take their toll on supply of imported copper scrap in China, which accounts for about 60% of copper scrap consumption in the country, showed the latest SMM survey.

Demand remained subdued in China’s cobalt market last week while a handful of consumers purchased as required. The market may find some near-term support from the extended national lockdown of South Africa, which will last until end April and aim to curb the COVID-19 pandemic.  

The state-owned China Southern Power Grid company has planned to accelerate its investment in new energy vehicle charging facilities in the coming years, as part of the move to develop "new infrastructure" projects for boosting sustainable growth of the economy. 

The work resumption rate for businesses in Wuhan, Hubei province, the epicentre of the COVID-19 in China, has increased to 85.4%, with the resumption rate for workers reaching 40.4%, said local authorities on Wednesday April 1. 

Trades of spot copper in Shanghai moderated from the previous day on the morning of Wednesday April 1 as downstream consumers and traders hesitated over the elevated premiums and futures prices and slowed purchases.

This is in response to the central government’s call to build "new infrastructure" projects to counter the economic fallout due to the coronavirus and boost the country's economy in the long term. New infrastructure, different from traditional infrastructure construction such as railways, roads, and airports, can be understood as new public facilities serving the needs of new industrialisation. 

While a handful of exploration companies in Africa are still looking to get a foot in the door, the tin (Sn) processing plant at Alphamin Resources’ (TSXV:AFM) (JSE: APH) Bisie mine is close to running at full tilt.

Chinese importers of nickel have delayed their negotiations with mining companies in South Africa as the African country will impose a nationwide lockdown from the midnight on March 26, which is aimed at curbing the spread of coronavirus. SMM expects...

SMM learned that tin production at PT Timah was close to 80,000 mt in 2019, which means that the amount of its upcoming output cut could be less than 2,000 mt per month. As the duration of the cutback remains unclear, it is estimated to provide limited support to global tin prices.