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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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February 2020 | Base Metals


Market Summary: All about the coronavirus


Base metal price direction is still all about the coronavirus and its potential impacts. More often than not in recent days, the metals have worked higher rather than lower, taking confidence from buoyant equity markets, the Chinese authorities’ steps to support the economy, and more news about virus-related disruptions on the supply side not just the demand side. But we still expect more choppy trading in the days and weeks ahead until there is more clarity on the impacts and on the timetable for returning to normality.

All about the coronavirus
Base metal price direction is still all about the coronavirus and its potential impacts. More often than not in recent days, the metals have worked higher rather than lower, taking confidence from buoyant equity markets, the Chinese authorities’ steps to support the economy, and more news about virus-related disruptions on the supply side not just the demand side. But we still expect more choppy trading in the days and weeks ahead until there is more clarity on the impacts and on the timetable for returning to normality.

Aluminium: Trying to build a base

Given the macro uncertainties and judging by the technical configuration, we envisage another retest of the base of aluminium’s well-established downtrending...

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