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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.
China will extend the new energy vehicle (NEV) purchase subsidy and purchase tax exemption policy for two years in an effort to support consumption and mitigate the impact of the Covid-19 pandemic on the economy.
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