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The recent extension of the 2019-nCoV coronavirus quarantine area to all of Italy has resulted in trading activity falling to nearly zero and has caused some minor disruptions to deliveries, sources told Fastmarkets on March 10.
A falling aluminium price on the Shanghai Futures Exchange below production costs has weakened sentiment for China’s alumina market, sources told Fastmarkets this week.
The ambitious expansion of copper and zinc smelters in China is boosting not only the production of metal but output of the sulfuric acid by-product, and this is now in oversupply due to the knock-on effects of the outbreak of the 2019-nCoV coronavirus.
Sherritt International Corp is to exit the Ambatovy joint venture in Madagascar, but its decision will not affect nickel or cobalt production at the mine, the Canadian company confirmed to Fastmarkets on March 10.
Beijing has taken measures to resuscitate its sluggish logistics sector by cutting port fees in a bid to encourage businesses to increase their import and export activities.