How is the coronavirus affecting commodities markets?
Welcome to the one place for all coronavirus commodities coverage.
The coronavirus outbreak has sparked a number of questions and volatility in markets across the globe. Throughout the crisis our market experts have been following the developments and what these might mean both domestically and globally for the commodities markets. This page gives you all the news stories you need, as they break and what has already happened.
How does this affect you and the future of your business? Bookmark this page as we collect all the coverage across the Fastmarkets universe so you can easily stay up-to-date.
Latest coronavirus coverage
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Coronavirus: Event Announcements
As the effects of novel coronavirus are being felt around the world, Fastmarkets has taken the difficult decision to postpone several forthcoming events in both China and Singapore until the situation has...
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Magnesia producers ramp-up output after Liaoning relaxes public health emergency status
Magnesia producers in the production hub of Liaoning province in China, are beginning to ramp up operations after the local government...
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Shanxi turns public health emergency status down to Level Two
The Shanxi provincial government in China has reduced its public health emergency status to Level Two from Level One (the highest), based on the situation for control of...
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Chinese mining disruption supports refractory-grade bauxite uptick; fused alumina flat
The price of refractory-grade bauxite rose in the two weeks to Thursday February 20 due to a low production recovery rate and limited logistics in...
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More coronavirus coverage
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Coronavirus outbreak keeping China’s stainless steel market subdued
China’s stainless steel market saw some activity over the past week following several weeks of stagnation as a result of the novel coronavirus (2019-nCoV) outbreak in the country...
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FOCUS: China opens steel export floodgates amid virus woes
Chinese steelmakers are rushing to export their products due to stagnant domestic demand caused by downstream industries struggling to return to work amid the novel coronavirus (2019-nCoV) outbreak in China...
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nCoV-19 coronavirus, seaborne supply uncertainty to drive iron ore price volatility in 2020 - BHP
The outbreak of the novel coronavirus (2019-nCoV), intra-year demand volatility and seaborne supply uncertainty are likely to contribute to iron ore price volatility in the coming year, Australia miner BHP said...
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Chrome chemical factories reopen but coronavirus outbreak could hit chromite demand
Chrome factories in China's Hubei and Sichuan provinces have gradually returned to operation since February 10 but demand for chemical-grade chromite will be hit been hit by the coronavirus outbreak, market sources warned...
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Iluka expects coronavirus situation to sap 2020 zircon demand
Mineral sand miner Iluka expects the consequences of the novel coronavirus infection to weigh on the already sluggish zircon market in 2020...
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China slowdown not affecting iodine spot price
The outbreak of the novel coronavirus (2019-nCoV) and the subsequent slowdown in China, one of the world’s largest iodine consumers, is yet to have an impact on the iodine spot market, as the price held firm this week...
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Coronavirus disruptions in China – breakdown by province
Logistics disruptions across China have paralysed many of the country’s supply chains since the outbreak of a novel coronavirus infection forced authorities to clamp down on...
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MORNING VIEW: Metals prices generally buoyant after China adds further financial stimulus
China’s race to contain the coronavirus (2019-nCov), combined with its financial stimulus, are providing the markets with more than enough hope...
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Qingdao graphite production starts to recover but prices unchanged
Graphite production in the Chinese city of Qingdao, in Shandong province, one of the country’s production hubs for flake graphite, has begun to resume gradually but with...
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Border closures leave Chinese inland miners cut off from export markets
Chinese mineral producers trying to return to work amid the coronavirus disruptions are being hampered by the continuing shortage of land freight options...
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GLOBAL LITHIUM WRAP: Chinese hydroxide producers’ plans to raise prices on virus-related costs boost short-term sentiment
China’s battery-grade lithium hydroxide price was supported at current levels this week after some producers announced plans to increase prices to cover higher transport and production costs resulting from containment policies for the novel coronavirus (2019-nCoV) in China.
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Restart of China’s bauxite, fused alumina production uncertain amid virus outbreak
A recovery of China’s bauxite and fused alumina production remained uncertain in the major production hubs of Henan and Shanxi provinces due to the coronavirus outbreak, creating concern about supply and delivery of the refractory material in the short term.
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INTERVIEW: Norsk Hydro resumes China ops but virus uncertainty remains, CEO say
Norsk Hydro has resumed operations at its plants in China following their extended closure due to the novel coronavirus (2019-nCoV) but whether all staff will return and what this and other logistical issues might mean for its business is unclear, the company’s chief executive officer said.
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NEWSBREAK: LME Week Asia 2020 seminar postponed, dinner canceled
The LME Week Asia 2020 seminar has been postponed and the LME Asia Dinner has been canceled, due to the coronavirus outbreak, the London Metal Exchange said on Friday February 14.
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China’s magnesia production begins to recover, prices unchanged
China’s magnesia producers began gradually to resume production this week, with magnesia export prices steady over the past seven days on a limited number of new...
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Morning view: Metals consolidate while traders weigh up likely impact of Wuhan coronavirus
The broad-based rally across markets that started on Monday finally halted this morning and consolidation is setting on. And, given there is still...
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Newsbreak: Coronavirus puts LME Week Asia 2020 in doubt
LME Week Asia 2020 could be in doubt due to the coronavirus outbreak, with Hong Kong Exchanges & Clearing evaluating all their events taking place over the next few months.
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Paper industry faces impacts from coronavirus
Shutdowns in China's Hubei province have stymied the region's large pulp and paper industry. Nationwide impacts include a looming shortage of recycled paper and board.
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Coronavirus impact on key parts of the steel supply chain: Iron ore
Expectations of robust steel mill restocking have been tempered by demand fears that have knocked iron ore prices by over 10% since before the holiday, but big questions remain about...
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Chinese logistics grind to a halt on coronavirus fallout
The coronavirus outbreak in China has severely disrupted logistics in the country, creating a shortage of available lorry drivers and rail freight cars, with transport between provinces severely disrupted.
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Mineral sands markets braced for slowdown after China virus outbreak
Business activity in the mineral sands markets was seen to be idling in the week to Friday February 7, with worries about the fallout from the coronavirus outbreak in China leading to a cautious outlook, as Declan Conway reports.
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Shipping delays rock bauxite, fused alumina supplies, sources warn
Participants active in the bauxite and fused alumina markets expect short-term supply shortages to affect consuming destinations in areas including Europe, while sellers take stock of the shipping disruptions arising from measures taken to contain the coronavirus outbreak in China.
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Coronavirus impact on battery raw materials: Cobalt
Weak demand for new energy vehicles (NEVs) in China is expected to hit domestic Chinese cobalt prices and could see Chinese demand for imported hydroxide fall...
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Coronavirus impact on battery raw materials: Lithium
Expectations for a rebound in new energy vehicle (NEV) sales after the Lunar New Year holiday have been put on hold due to the impact the Wuhan coronavirus is expected...
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Coronavirus impact on key parts of the steel supply chain: Coking coal
Prices are steady so far since domestic supply constraints and disruptions to seaborne availability have been counterbalanced by demand-side weakness from lower steel output.
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Coronavirus impact on key parts of the steel supply chain: Manganese ore and alloy
Restricted access to ore already in ports presents the threat of alloy shutdowns, both of which could provide short-term price support for ore and alloy, but the accompanying ore stockbuild...
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Coronavirus impact on key parts of the steel supply chain: Steel
Chinese domestic prices suffer heavy falls on building steel inventory levels and persistent first-quarter demand worries, with rebar facing the toughest challenge.
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Coronavirus impact on key parts of the steel supply chain: Chrome ore and alloy
Most ferro-chrome smelters had covered their ore needs for this week and logistics disruptions are minimal between ports and many major smelters.
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GLOBAL GRAPHITE SNAPSHOT: 194 cif Europe price rises, coronavirus heightens seasonal shortage
Key data from the graphite pricing sessions in Asia and Europe for the week ended Thursday February 6.
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China’s demand for imported alumina remains firm despite virus; freight rates drop
The coronavirus outbreak has not yet affected buying demand in China for imported alumina, with material from Western Australia still being shipped to China and fresh deals concluded, market participants...
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FOCUS: China's copper smelters struggle to slash output despite demand drop
China's copper smelters face limited scope to slash production even as diminished demand on virus-related lockdowns raises concerns refined inventories could grow.
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Antimony gains support in Europe amid coronavirus outbreak uncertainty
The impact of the coronavirus outbreak from Wuhan city, China, is positively affecting antimony prices in Europe, with low stocks in Rotterdam and the market heavily dependent on supply from China.
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Major Chinese ports to waive extra storage fees in virus logistics lockdown
Port of Shanghai, the world’s biggest port by container throughput, and other major ports in China will waive the extra storage fees incurred during the logistics lockdown imposed in relation...
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China's Liaoning magnesia markets extend ops suspensions on coronavirus fears
China's magnesia enterprises in Liaoning province, a major production hub, have suspended operations on government instructions in a bid to stop the spread of the coronavirus outbreak that was first detected in Wuhan city.
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HOTTER ON METALS: Coronavirus adds to global growth challenges
History shows that crises such as the Wuhan coronavirus have a relatively short-lived impact on global financial markets. Commodities such as soybeans, metals and paper have longer-term issues to worry...
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FOCUS: China virus sell-off a sign of 'worse to come' for steel markets
The sell-off of Chinese steel futures this morning is a sign that “worse is to come” for global steel prices, market sources told Fastmarkets on Monday February 3.
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Base metals’ reaction suggests Wuhan virus may differ to SARS outbreak
Base metals prices have reacted quite aggressively to the spread of the coronavirus, more so than most equity markets, leaving markets sending out different signals.
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What are likely short-term effects of Wuhan virus on steel, iron ore markets?
Just as China and the United States started to reach a deal and trade tensions eased, providing some longed-for certainty, the novel coronavirus (2019-nCov) has again increased fear and uncertainty...
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Extended business closures in China to delay magnesia shipments
Shipments of magnesia that were due to leave China's Liaoning province next week will likely experience delays following an extension of the holiday period in the region, as authorities seek to contain the Wuhan coronavirus outbreak.
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Coronavirus fears put trend toward stronger yuan into reverse
Mounting concern over the effects of the coronavirus outbreak in China are putting pressure on the value of the country's yuan in global markets, reversing a trend that supported commodity prices earlier this month.
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US steel markets split on coronavirus impact
An outbreak of a SARS-like coronavirus in China has begun to hit certain commodity markets worldwide, but questions remain about the potential impact on the steel sector in the United...
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Manganese flake rallies on virus fears; Europe traders seize momentum
A mixture of fears over supply disruptions amid the Wuhan coronavirus outbreak and low stocks in Rotterdam are giving European traders enough leverage to increase their offers substantially, which has...
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FOCUS: Virus jitters will affect China's steel exports, sources say
The Wuhan coronavirus will likely influence fundamentals in China’s steel market and Chinese export trends in the near future, sources told Fastmarkets this week.
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HOTTER ON METALS: Coronavirus adds to global growth challenges
Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.
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BREAKING: China offering force majeure certs for coronavirus-hit businesses
The China Council for the Promotion of International Trade is offering "force majeure certificates" to businesses in China affected by the outbreak of the Wuhan novel coronavirus.
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FOCUS: Wuhan virus likely to dent Q2 demand for steel, iron ore in Asia
Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to...
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TiO2, ilmenite markets watch for disruption from coronovirus outbreak
Titanium dioxide and ilmenite traders are closely watching the rapid spread of a coronavirus infection in central China, with cases reported in many of the industry's production centers.
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