Coronavirus fears stoke Al market uncertainty

摘要

Aluminium market participants remain wary of reduced consumption, logistical backlog and bearish macroeconomics as a result of the coronavirus outbreak from Wuhan city in Hubei province, China. The outbreak has pressured futures prices on exchange for primary aluminium and has stoked growing bearish sentiment in the secondary aluminium and scrap markets. The effect of the coronavirus on global aluminium premiums, however, remains uncertain. The London Metal Exchange three-month aluminium price closed at $1,686.50 per tonne on Monday February 3 - the lowest since December 29, 2016 - it has since re-bounded slightly and traded at $1,716 per tonne as of 9:15am London time on Tuesday February 4.