January 2020

What are the likely short-term effects of the Wuhan virus on steel, iron ore markets?

Just as China and the United States started to reach a deal and trade tensions eased, providing some longed-for certainty, the novel coronavirus (2019-nCov) has again increased fear and uncertainty in the steel and feedstock markets.

IRON ORE DAILY: Market participants expect bearish outlook amid coronavirus outbreak [CORRECTED]

Seaborne iron ore prices were flat on Friday January 31 while the widespread coronavirus has cast a bearish outlook into the market.

Heavy rain not to significantly affect Brazil iron ore exports - companies

Heavy rainfall in the Brazilian southeastern state of Minas Gerais has caused interruptions for some railway operators transporting iron ore for exports, but the impact has been minimal, companies told Fastmarkets on Wednesday January 29.

IRON ORE DAILY: Buyers will honor long-term contracts amid talks of downstream cuts

Seaborne iron ore prices were down on Thursday January 30 while market participants further lowered estimates of physical transaction prices amid talk of steel production cuts in China and resulting concerns over the impact on mills’ raw material procurement.

HOTTER ON METALS: Coronavirus adds to global growth challenges

Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.

APEX Q4 2019: SP Angel team tops base metals prediction leaderboard

John Meyer, Sergey Raevskiy and Simon Beardsmore of SP Angel clinched the top spot on the base metals leaderboard for the Apex fourth-quarter 2019 predictions, with an accuracy rating of 99.29%, while Rhona O’Connell of INTL FC Stone came top for precious metals with a rating of 99.26%.

IRON ORE DAILY: Prices drop while market mulls bearish downstream demand outlook, Brazil supply fears

The seaborne iron ore market was muted on Wednesday January 29, although market participants lowered their estimates for physical transaction prices in response to the sharp downward movement in the Singapore Exchange’s derivatives for the steelmaking raw material a day earlier.

FOCUS: Wuhan virus likely to dent Q2 demand for steel, iron ore in Asia

Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.

IRON ORE DAILY: Viral outbreak clouds outlook for market

Trading activity in the seaborne iron ore market was muted on Tuesday January 28 with markets in China closed for a week-long public holiday for the Chinese New Year, which has been extended until Sunday in light of the coronavirus outbreak in the country.

Seaborne iron ore concentrate demand weakens, but pellet appetite firm

Demand for seaborne iron ore concentrate weakened ahead of a week-long public holiday in China for the Chinese New Year with mills in the country likely to have built up their inventories well in advance, while that for pellets was stronger due to last-minute restocking.