Sentiment in the seaborne iron ore and Asian steel markets has deteriorated amid a rapid spread of the 2019-nCoV – or Wuhan novel coronavirus – in China, which appears to have intensified in the last week.
Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on month at the end of December 2019, according to data released by major Japanese trading house Marubeni Corp.
Copper premiums in Europe were stable in the week ended Tuesday January 28 after a drop in the three-month copper price on the London Metal Exchange failed to stimulate demand for the metal.
The low price of lithium and cost overruns on junior projects have made investors cautious about the sector, creating doubt about whether lithium juniors will be able to access capital and ensure a supply of lithium in the years ahead.
The Rotterdam uncut nickel cathode and US nickel briquette premiums rose in the week to January 28 on firmer demand for the former and weaker supply for the latter, while premiums in China held firm with participants out of the market for the extended Lunar New Year break.
