Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism.
It has not been an easy year so far for Peru’s zinc and lead mining companies after the coronavirus pandemic swept through South America, with operations facing lengthy shutdowns as well as multi-year low prices for their products.
Declining copper stocks at London Metal Exchange-registered warehouses are not an indicator of improving demand conditions in Europe, according to industry participants, with the LME’s recent off-warrant stock publication showing the extent of surplus supply in the region.
Exports of manganese ore from South Africa have almost quadrupled from April to July, according to preliminary trade data seen by Fastmarkets, and the majority will head to China, where inventories are already rising and prices have fallen sharply.
Chinese domestic spot prices of both indium and germanium have yet to yield any gains after the provincial government of Yunnan announced further details on the commercial stockpiling of several non-ferrous metals, which in theory could lend some support to these metals, Fastmarkets understands.