SMM Evening Comments (Feb 24): Shanghai base metals mostly lower as virus spread beyond China
South Korea raised its coronavirus alert to the highest level, while Italy and Iran confirmed an uptick in coronavirus infections
MMi Daily Iron Ore Report (Feb 24)
The DCE iron ore futures market fell once it hit a recent high 684.5, though physical ion ore port stock quotes rose by 10-15yuan/mt during the morning trading session.
Cobalt salts prices rose further on bullish prospects, downstream operations yet to fully resume
Transactions increased in the cobalt and lithium chain last week as more producers returned from holidays. Downstream stockpiling on a bullish outlook for prices extended rises in cobalt salts, while
Indonesia’s Weda Bay nickel project to put two RKEFs under operation
The first batch of output is expected in March at the earliest.
China bauxite imports exceeded 100 million mt in 2019, up 21.91%YoY
Last year, the Republic of Guinea, Australia, and Indonesia remained the top three bauxite exporters to China, with their combined volume accounting for over 94% of the China’s total bauxite imports
SMM has more than 50 professional industry analysts in copper, aluminum, lead, zinc, nickel, tin and minor metals, and are committed to providing in-depth, professional, as well as timely reports and research.
Besides, over 80 steel professionals engaged in China's steel industry. They have been working on the weekly report China Steel Briefing, the monthly report China Steel PMI-Monthly, a survey of steel downstream.
