Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2020 | Steel Raw Materials

Virus outbreak and Lunar New Year exacerbate bearish trend in the iron ore market: Iron Ore Market Analysis

The recent outbreak of the coronavirus has spooked the market and spread fears about slackened market activity and falling iron ore consumption in the coming months, dragging iron ore prices lower over the past week. F

The three-week long price rise which was boosted by re-stocking activity has now ended and the country has entered the Lunar New Year with a troublesome start. On January 23, the provincial government of Hubei in central China sealed off its capital, Wuhan, to prevent the continued spread of the coronavirus. The city has been placed under the largest quarantine in history, and with an additional 16 cities in the region being closed off the last few days, there is an increasing fear that the virus may not be easily contained and...


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