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Coronavirus Impact on the Steel Industry

Industry News Reports


METALS-Copper rises on China stimulus hopes, drop in virus cases ...
Wed, 19 Feb 2020 00:00:00 GMT
METALS-Copper rises on China stimulus hopes, drop in virus cases - Reuters - Africa
https://af.reuters.com/article/metalsNews/idAFL4N2AJ1H2


Chinese steel mills mull output cuts due to coronavirus: Platts ...
Tue, 18 Feb 2020 00:00:00 GMT
More than a third of Chinese steel mills are considering cutting steel production due to rising inventories, a shortage of raw materials and weak downstream demand caused by the coronavirus, according to a recent S&P Global Platts outlook survey. The survey found that 35% of survey participants had already trimmed steel output or were planning to, while 23% said their operations were running normally so far. Some mills had wanted to bring forward maintenance of their steelmaking
https://www.hellenicshippingnews.com/chinese-steel-mills-mull-output-cuts-due-to-coronavirus-platts-survey/


Gold Breaks US$1,600 as COVID-19 Impacts Global Business
Tue, 18 Feb 2020 00:00:00 GMT
Gold Breaks US$1,600 as COVID-19 Impacts Global Business The yellow metal broke past US$1,600 midway through Tuesday, even with the strong US dollar trending higher.
https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/gold-covid-impacts-global-business/


BHP Leans into Copper, Warns of Coronavirus Impact
Tue, 18 Feb 2020 00:00:00 GMT
BHP Leans into Copper, Warns of Coronavirus Impact The Australian company said it believes copper's fundamentals are sound, even with the coronavirus outbreak weighing on Chinese demand.
https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/bhp-leans-copper-warns-coronavirus-impact/


SEAISI Press Release
Tue, 18 Feb 2020 00:00:00 GMT
Chinese steel mills mull output cuts due to coronavirus: Platts survey
http://www.seaisi.org/news_details.php?nid=9665


China Metal Special Report Update- Impact of the coronavirus ...
Mon, 17 Feb 2020 22:39:00 GMT
Steel mills told SMM that shipments of domestic ore have resumed 70-80%, but trans-provincial delivery still faces restrictions. The COVID-19 impact is likely to reduce iron ore production in Hebei by
https://news.metal.com/newscontent/101028792/china-metal-special-report-update--impact-of-the-coronavirus-covid-19-outbreak-on-china-ferrous-metals-market%c2%a0&c=13220999708584904645&mkt=en-gb


Chinas focus now on reviving economy, seeking balance between ...
Mon, 17 Feb 2020 09:45:00 GMT
A worker of HBIS Group Tangsteel Company patrols at the steel coil storage area in Tangshan, north China's Hebei Province, May 31, 2019. (Xinhua/Mu Yu) With growing signs that the COVID-19 outbreak is
http://www.globaltimes.cn/content/1179896.shtml&c=18366818820449662&mkt=en-gb


China iron ore marks biggest weekly rise in 5 months on supply ...
Sat, 15 Feb 2020 00:00:00 GMT
Chinas iron ore futures ended a wobbly session higher on Friday and gained the most this week since September amid renewed concerns over seaborne supply and despite demand disruptions due to the coronavirus outbreak. Iron ore on Chinas Dalian Commodity Exchange rose 1.0% to 628.50 yuan ($90.01) a tonne, advancing for a fourth straight day, and climbed 6.4% from last week. Singapore iron ore was steady at $86.04 in afternoon trade. Despite weak demand for the steelmaking raw material in top
https://www.hellenicshippingnews.com/china-iron-ore-marks-biggest-weekly-rise-in-5-months-on-supply-concerns/


China titanium producer Pangang shuts unit as coronavirus cases ...
Fri, 14 Feb 2020 00:00:00 GMT
One of Chinas top titanium producers has halted production at its unit in Chongqing after members of staff were found to be infected with the new coronavirus, a local government official said on Friday.
https://www.reuters.com/article/us-china-health-titanium-idUSKBN20819K


Can coronavirus trigger a 'black swan' event Gold price is watching ...
Fri, 14 Feb 2020 00:00:00 GMT
Can coronavirus trigger a 'black swan' event Gold price is watching the negatives analysts - Kitco NEWS
https://www.kitco.com/news/2020-02-14/Can-coronavirus-trigger-a-black-swan-event-Gold-price-is-watching-the-negatives-analysts.html


South32 earnings battered by low prices
Fri, 14 Feb 2020 00:00:00 GMT
South32 mines alumina, manganese, coal, nickel, lead and zinc, and produces aluminium. Only nickel saw improved prices in ... and modelled a 4-8 per cent increase in cash profits if commodity prices had stayed flat. Looking ahead, industrial commodities have been hit by coronavirus uncertainty. Manganese is South32s product most exposed ...
https://www.investorschronicle.co.uk/shares/2020/02/14/south32-earnings-battered-by-low-prices/


China iron ore rises on supply concerns, virus toll caps gains
Fri, 14 Feb 2020 00:00:00 GMT
Chinas iron ore futures rose for a third session on Thursday as spot prices rallied to three-week highs after miner Vale SA downscaled its production outlook for the first quarter, but concerns over the coronavirus death toll kept gains in check. The Dalian Commodity Exchanges most-traded iron ore contract ended up 1.6% at 624.50 yuan ($89.43) a tonne. Earlier in the session, the contract rose up to 628 yuan, its highest since Jan. 23. Signs of softer demand for iron ore should limit the
https://www.hellenicshippingnews.com/china-iron-ore-rises-on-supply-concerns-virus-toll-caps-gains/


Base Metals Weekly Round-Up: Northern Dynasty Gets a Boost
Fri, 14 Feb 2020 00:00:00 GMT
Base Metals Weekly Round-Up: Northern Dynasty Gets a Boost In the news this week, Northern Dynasty's Pebble chalked up a (projected) win and the coronavirus took a bigger bite...
https://investingnews.com/daily/resource-investing/base-metals-investing/base-metals-round-up-northern-dynasty-gets-boost/


China titanium producer Pangang shuts unit as coronavirus cases ...
Fri, 14 Feb 2020 00:00:00 GMT
BEIJING, Feb 14 Reuters - One of Chinas top titanium producers has halted production at its unit in Chongqing after members of staff were found to be infected with the new coronavirus, a local government official said on Friday. Pangang Group Vanadium Titanium and ... said on Feb. 10 it was raising prices globally for all its pigments ...
https://in.reuters.com/article/china-health-titanium-idINL4N2AE2BR


SEAISI Press Release
Fri, 14 Feb 2020 00:00:00 GMT
China iron ore rises on supply concerns, virus toll caps gains
http://www.seaisi.org/news_details.php?nid=9654


Gold Revives as China's Revised Virus Data Spook Risk Assets
Thu, 13 Feb 2020 17:04:03 GMT
By Geoffrey Smith By Geoffrey Smith Investing.com - -- Gold prices rose on Thursday as world markets moved sharply into risk-off mode in response to a big upward revision in the number of Covid-19...
http://uk.investing.com/news/commodities-news/gold-revives-as-chinas-revised-virus-data-spook-risk-assets-2051603


METALS-London copper falls as virus death toll jumps sharply
Thu, 13 Feb 2020 00:00:00 GMT
London copper prices fell on Thursday, as a surge in the number of deaths and infections from the coronavirus epidemic in China heightened concerns about demand from the worlds top consumer of the metal.
https://www.reuters.com/article/global-metals-idUSL4N2AD0MH


Intrepid Orion highlights opportunity lurking in corona-infected ...
Thu, 13 Feb 2020 00:00:00 GMT
Intrepid Orion highlights opportunity lurking in corona-infected base metals land - Livewire Markets
https://www.livewiremarkets.com/wires/intrepid-orion-highlights-opportunity-lurking-in-corona-infected-base-metals-land


Weak steel prices, virus outbreak to keep EAF mills from reopening
Thu, 13 Feb 2020 00:00:00 GMT
Limited electric arc furnace (EAF) steelmakers in China are likely to resume production this month, as sluggish demand amid the coronavirus epidemic outbreak has knocked steel prices to two-year lows and pushed mills into deep losses. The latest SMM survey showed that operating rates across EAF steel mills in China were almost zero as of Tuesday February 11, compared to a rate of 17% estimated by SMM before the Lunar New Year holiday. Steel prices in China have been on the decline since the
https://www.hellenicshippingnews.com/weak-steel-prices-virus-outbreak-to-keep-eaf-mills-from-reopening/


Mining markets facing growing uncertainty as coronavirus spreads ...
Thu, 13 Feb 2020 00:00:00 GMT
Mining markets facing growing uncertainty as coronavirus spreads - ABC News
https://www.abc.net.au/news/rural/2020-02-14/mining-industry-facing-growing-uncertainty-coronavirus-spreads/11963306


Number of news reports: 20




Novel coronavirus (2019-nCov) is a strain of virus first identified in the steelmaking city of Wuhan, Hubei Province, China in December 2019. The virus causes fever and coughing that can progress to severe pneumonia and death. Because of rising mortality, its outbreak led to the lock-down of Wuhan in January 2020 including a shut down of the city's public transport; movement restrictions in Beijing and Shanghai; as well as widespread quarantine for international Chinese travellers.