A sharp decline in market sentiment, linked to the spread of the coronavirus (2019-nCoV), has halted activity and reduced prices in the Japanese construction steel sector, steelmaker Tokyo Steel said.
Rio Tinto has slowed work on the underground project at its Oyu Tolgoi copper-gold mine in Mongolia because of the coronavirus (2019-nCoV) outbreak but it continues to operate and ship copper concentrates from the mine’s open pit.
The seaborne price of manganese ore in China fell to a two-months low in the week ended Friday March 13, after miners cut their offer prices in an attempt to offload material amid deteriorating sentiment.
Galaxy Resources expects to meet its production target of around 14,000-17,000 dry metric tonnes (dtm) of lithium concentrate for the first quarter of 2020 at its Western Australia spodumene project, Mt Cattlin, following the resumption of activities there in February.
The vanadium pentoxide price in Europe tumbled by more than 20% last week amid weakening demand and a falling alloys market, driven by growing fears of a global economic slowdown due to the novel coronavirus (2019-nCov) outbreak.