China’s unusually large copper stockpiles fuel demand concerns

Nickel has rallied hard this month, clawing back some of the territory lost during its price slide in 2023.

Tianqi also said not enough financial information has been given to determine the impact on SQM operations from the deal.

Overseas sales jumped more than 200% in March from the previous month.

The sharp growth in gas supply and the drop in prices could lead to a rapid conversion from coal to gas, the bank said.

Iron ore fundamentals have improved and the valuation of the ferrous market is expected to rise, analysts at Galaxy Futures said in a note.

Demand for the fuel has been hit by a slowdown in the cement industry.

The statement came after iron ore futures prices rose by more than 3% in day trading.

South32 said on Monday it would take about a year to restart manganese ore exports from Australia.

Premiums paid on imported refined copper extended a months-long decline to reach zero for the first time in Shanghai going back to 2017.