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As demand implodes, zinc supply chain starts to adjust
The London Metal Exchange (LME) zinc price has bounced by 20% from its March low of $1,685 a tonne to $2,020. This is part of a broader mini-recovery across the base metals complex as the market focuses on the supply shock running alongside the demand shock caused by...
Sonami sees copper supply glut of 200,000 tonnes in 2020
The copper market will see a supply glut of 200,000 tonnes this year as the economic impact of coronavirus hits global demand for the metal, a Chilean industry group told Reuters. Diego Hernandez, president of Sonami, an association of mining companies with operations...
Copper price jumps as Chinese imports surge
Copper jumped on Thursday after a rebound in Chinese imports of the metal indicated the country’s manufacturing and construction sector may be emerging faster than anticipated from the covid-19 slump. Customs data showed China’s refined copper imports in April rose...
China aluminum dances to its own beat as LME stumbles
A robust recovery in aluminum demand in China has boosted prices in the world’s top consumer and producer of the metal by more than 10% in a month, but traders say weak demand for Chinese exports could soon take the shine off the market. Shanghai Futures Exchange’s...