Asian Pacific equity indices are firmer this morning, Friday March 20, as are many of the base metals and all of the precious metals, but given the worst no doubt lies ahead in terms of weaker demand for non-household consumables in Europe and the United States, the current upturn may be a countertrend move or a two-thirds-of-the-way-down pause.

Base metals prices on the Shanghai Futures Exchange were up across the board at the close of the morning trading session on Friday March 20, with the complex benefiting from the emergence of some modest optimism in broader markets.

Fastmarkets RISI has published a list of Frequently Asked Questions to accompany the proposed launch of new price assessment for US kraft papers. The FAQs can be found here. Fastmarkets RISI launched a consultation on the launch of new net price assessments for unbleached and bleached kraft paper prices on March 5, 2020. If confirmed, […]

Physical trading for copper in China has ground to a halt after the tumbling copper price on the Shanghai Futures Exchange (SHFE) startled the market, Fastmarkets heard.

MMG temporarily reduced productions at its Peruvian copper mine-Las Bambas following the local governments' declaration of a 15-day state of national emergency to contain the coronavirus (2019-nCoV), the Australian-Chinese miner said on Thursday March 19.

Prices in Southeast Asia’s steel billet market were unchanged despite a slump in emerging market currencies following investors’ preference for haven assets in uncertain economic conditions, Fastmarkets heard.

Multi-metals producer Nexa Resources has suspended mining and limited smelting operations in Peru after the local government declared a state of emergency and closed its borders due to the coronavirus (2019-nCoV) pandemic, the company said on Thursday March 19.

While risk-off dominates and even though governments are prepared to throw money at the financial system and into economies and households, the likelihood is that more factories will close, household spending will fall, as will demand for raw materials, but there may be some dead cat bounces along the way.

Automobile manufacturers General Motors (GM) and Mercedes-Benz have enforced “collective holidays” at their Brazilian operations starting from March 30, in response to the novel coronavirus outbreak (2019-nCoV), the companies said on Wednesday March 18.

Base metals prices on the Shanghai Futures Exchange were down across the board at the close of morning trading on Thursday March 19 amid continued broad-based risk aversion, with tin leading the complex lower with a drop of 7.8%.