Daily Base Metals Report

Thu 05 March 2020 17:30

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Authors

James Roberts Deputy Head of IC (Clients)

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A quieter day today across the complex as we continue to try and digest the moving feast of equity indexes and multiple government spending bill plans. It remains to be seen if the factory ramp-up will be followed by consumer demand, or simply a glut of inventory.

Vale halted their VNC refinery operation that removes 5% annual refined class one nickel capacity form the market, however as this is not refined FPC we see this more as a premium rather than flat price impact.

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