Shanghai Nonferrous Metals News
19th February: According to the NDRC, 80% of major nonferrous metals producers have resumed operations after the extended New Year holiday. Despite supportive policies of local governments regarding resumption, businesses will take time to return to production levels set prior to the COVID-19 outbreak due to restrictions to logistics and travel.
According to SMM, downstream aluminum profile, aluminum strip, aluminum cable and alloy processing producers have all been slow to resume, with a few delaying their actual commencement dates by 2~7 days more than was originally announced. In the meantime, some producers are still awaiting resumption approvals from local authorities. SMM forecast domestic consumption will remain sluggish as a result of low operational rates at downstream processers.