February 2020

Cargo vessel damaged near northern Brazil was carrying 295kt of iron ore, Vale says

Iron ore vessel MV Stellar Banner, grounded near the coast of Brazilian northeastern state of Maranhão earlier in the week, was carrying 294,871 tonnes of iron ore, a spokesperson for Brazilian mining company Vale told Fastmarkets on Friday February 28.

HOTTER ON METALS: Coronavirus adds pressure to diversify supply chains

The novel coronavirus (2019-nCoV) is set to accelerate what the trade wars started: the diversification of global supply chains.

IRON ORE DAILY: Steel mills sound margins concerns

Seaborne iron ore prices dropped further on Friday February 28, with concerns about mills’ margins emerging among Chinese buyers as global macroeconomic sentiment continued to plummet.

IN CASE YOU MISSED IT: 5 key stories from February 27

Here are five Fastmarkets stories you might have missed on Thursday February 27 that are worth another look.

Iron ore cargo vessel contracted by Vale damaged near Brazilian coast

A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country’s north-eastern Maranhão state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.

IN CASE YOU MISSED IT: 5 key stories from February 26

Here are five Fastmarkets stories you might have missed on Wednesday February 26 that are worth another look.

IRON ORE DAILY: Prices retreat on growing coronavirus concerns

Seaborne iron ore prices dropped on Wednesday February 26 amid burgeoning concerns over the spread of the novel coronavirus (2019-nCoV) outside China and its impact on the global economy.

FOCUS: 8 key effects of coronavirus outbreak on China's steel industry

China’s steel industry has faced difficulties in production and sales since the first working day after the Lunar New Year holiday due to the novel coronavirus (2019-nCoV) outbreak, which has led to some 78,000 infections and close to 2,700 deaths in the country so far.

IRON ORE DAILY: Seaborne prices retreat further on risk-averse traders

Seaborne iron ore prices were down on Tuesday February 25 amid heightened concerns about the novel coronavirus (2019-nCov) outbreak outside China and the resulting risk averse attitude of traders.

IRON ORE DAILY: Prices steady as market awaits buyers’ next moves

Seaborne iron ore prices were largely steady on Monday February 24 following an upward trend last week, with market participants contemplating the direction of prices for this week.