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Brazilian miner Vale has said it may have to implement contingency measures or eventually suspend operations due to the global spread of the novel coronavirus (2019-nCoV) pandemic around the world. Most mill-grade aluminium scrap prices fell in the United States this past week, encouraged by weaker London Metal Exchange aluminium prices and uncertainty resulting from the spread of the novel coronavirus. Import prices for high-carbon ferro-chrome in Japan and South Korea have fallen to near four-year lows on weakened demand, after stainless steel mills in both countries cut production due to the outbreak of novel coronavirus (2019-nCoV).
Global trade is being slowed down by the sluggish recovery of China’s logistics sector, with a build-up of containers at the country’s ports creating problems around the world.
Chinese domestic spot battery-grade lithium carbonate prices stabilized temporarily on Thursday March 12 after a slight decrease last week, market in other regions remained flat with market participants worrying about an economic slowdown due to the spread of coronavirus (2019-nCoV) globally.