South Africa has tightened its COVID-19 prevention measures imposing Level III lockdowns as the pandemic has worsened, triggering concerns about supply of cobalt raw materials.

China imported 1.83 million mt of copper ore and concentrate (hereinafter referred to as copper concentrate) in November 2020, a month-on-month increase of 8.3% and a year-on-year decrease of 15%, according to China Customs.

Overall supply of copper under long-term contracts for next year has declined compared with last year, and the proportion of orders adopting floating pricing has increased significantly.

On November 24, the Ministry of Ecology and Environment (MEE), the Ministry of  Commerce, the National Development and Reform Commission, and the General Administration of Customs issued an announcement to fully prohibit import of solid waste.

China’s lithium carbonate imports and the average import price both increased in October, customs data showed. 

China's refined nickel imports totalled 8,414 mt in October, down 37.65% on the month and 29.09% on the year. The import of unwrought unalloyed nickel with the Ni and Co total content over 99.99% and Co content less than 0.005% dropped 93 mt from September to 762 mt. The imports of other unwrought unalloyed nickel dropped 4,157 mt to 7,652 mt on the month, accounting for 90.94% of the total import. China's import of refined nickel from January to October cumulated 106,000 mt, down 37.98% on the year.

The stainless steel market remained stable with scarce transactions. The basic quotations of #304 cold rolled coils were between 12,900-13,400 yuan/mt. According to the survey from traders, due to the tight spot supply from Hongwang, some agents had suspended selling coils, and they are reserving the supply for later sale of plates.

According to customs data, China's nickel ore imports totalled 5.1 million mt (customs data denotes both dry and wet mt) in October, a 17.9% increase from the previous month and a year-on-year decline of 25.6%.

Mainstream refining charges (RCs) of domestic blister copper stood between 1,350 -1,550 yuan/mt on a delivery to factory basis in October, with the monthly average RCs down 50 yuan/mt from the previous month.

China approved just 121,000 mt of aluminium scrap for imports in its 12th batch of approvals, bringing the total approved amounts to 818,000 mt so far this year, according to the China Solid Waste and Chemicals Management.