China’s race to contain the coronavirus (2019-nCov), combined with its financial stimulus, are providing the markets with more than enough hope, with risk-on being seen across most of the metals and many equity indices, especially in western markets, this morning, Monday February 17.

With no let-up in the number of coronavirus (2019-nCov) infections in China, the market is this morning, Friday February 14, waiting for signs that the virus is being contained.

Base metals prices on the Shanghai Futures Exchange, with the exception of that for zinc, rose during the morning trading session on Tuesday February 11 after China’s central bank pumped in 900 billion yuan ($129 billion) into the country’s financial system a day earlier.

Swiss miner-trader Glencore has signed a five-year deal – from 2020 until 2024 – to supply South Korean battery manufacturer Samsung SDI with 21,000 tonnes of cobalt contained in hydroxide, Glencore said on February 10.

The broader markets were mixed on the morning of Monday February 10, with equities in Asia generally weaker, as were metals on the Shanghai Futures Exchange, while the London Metal Exchange was firmer across the board.

The broad-based rally across markets continues with investors focusing more on the improving economic data than they are on the uncertain economic impact of the Wuhan coronavirus (2019-nCoV).