Markets seem to be in the calm before the United States employment data storm this morning, Thursday April 2, with metals prices mixed, trading volume low and not much movement on equity indices for a change.

Base metals prices on the Shanghai Futures Exchange were mixed during the morning trading session on Thursday April 2, with the complex pressured by rising risk-off sentiment due to the ongoing Covid-19 pandemic.

South Africa’s 21-day lockdown aimed at curbing the spread of the Covid-19 virus has highlighted the cobalt market’s dependence on the shipping route out of Durban.

The South African port authority is looking to reserve Durban port for the shipment of essential goods only, revoking a separate statement by the country’s maritime authority to allow processing of metals cargoes during the 21-day lockdown, Fastmarkets has learned.

Fastmarkets will suspend the publication of the first Live Futures Report of the day from Monday April 6.

Three-month base metals prices on the London Metal Exchange were capped during the morning session on Wednesday April 1, with the previous day’s gains wiped out after a brief rally precipitated by positive data from China and month-end book squaring abruptly halted.

China’s Caixin manufacturing purchasing managers’ index (PMI) was released earlier on Wednesday April 1; it rebounded to 50.1 in March from 40.3 in February, which supports the rebound in the official PMI data released on Tuesday - another sign that purchasing managers reported conditions were just “better” in March than they were a month earlier.

Base metals prices on the Shanghai Futures Exchange were broadly up during the morning trading session on Wednesday April 1, with the complex buoyed by the release of better-than-expected data from China.

South Africa will now allow metal cargoes to be shipped from the Port of Durban during the country's 21-day lockdown, after many suppliers failed to find alternative export routes over the past week.

Here are five Fastmarkets stories you might have missed on Tuesday March 31 that are worth another look.