March 2020

Global Covid-19 effects could cut iron ore supply by 18 mln tonnes in 2020, Vale says

Nationwide lockdowns and restrictions on activity to contain the Covid-19 pandemic could reduce the supply of iron ore in the seaborne market by around 18 million tonnes this year, according to mining company Vale.

IRON ORE DAILY: China manufacturing PMI rebound supports prices

The seaborne iron ore market stabilized on Tuesday March 31 after the prior day’s loss of more than $3 per tonne, attributed to a rebound in China’s official manufacturing purchasing managers’ index (PMI) and a slight boost in trading volumes.

IRON ORE DAILY: Prices weaken as outlook for downstream sector turns sour

Seaborne iron ore prices dropped closer to the $80-per-tonne level on Monday March 30 on plunging rebar prices in China and a negative outlook for downstream demand in April among some market participants.

AT A GLANCE: JFE Steel faces zero profit for first time in history

Major Japanese steelmaker JFE Steel is facing the prospect of recording zero profit for the year ending March 2020 for the first time in its history due to global economic tensions and rising raw materials prices, it warned on Friday March 27.

Key takeaways from the latest Steel Raw Materials Weekly Market Tracker

The latest forecasts from Fastmarkets' team of analysts is ready to view.

INDIA LOCKDOWN: The supply chain shock to the ferrous industry

On Tuesday March 24, India’s Prime Minister Narendra Modi announced that 1.3 billion individuals would be put under a state of lockdown for 21 days to prevent the spread of the Covid-19 virus in the country.

IRON ORE DAILY: China concern grows over likely diversion of cargoes due to faltering demand elsewhere

Seaborne iron ore prices dipped on Friday March 27 amid mounting concerns that steel production cuts outside China and the subsequent drop in demand for raw materials will lead to the diversion of cargoes to Chinese ports.

Anglo American expects 2-3mln-tonne hit to Kumba iron ore ops this year

Anglo American is expecting a production impact of 2-3 million tonnes at its Kumba iron ore operations in 2020, following a decision to operate with around half of its workforce during a 21-day lockdown in South Africa that started this week.

IRON ORE DAILY: Prices stabilize as market awaits clear direction

The seaborne iron ore market cooled down on Thursday March 26 after gaining ground for two consecutive days, with the lower prices in line with a softer futures curve for rebar.

JSW Steel suspends, scales down production units amid Indian lockdown

India’s JSW Steel expects a significant reduction in its capacity utilization rates during the country’s 21-day lockdown following its move to suspend or scale down operations across various locations, it said on Thursday March 26.