Slab export prices from Brazilian producers dropped sharply in the week ended March 20, with customers avoiding purchases amid uncertainty about the spread of the 2019-nCoV coronavirus pandemic.
The London Metal Exchange will temporarily close its open outcry trading floor and go to electronic price discovery from Monday March 23 as a precautionary measure amid the coronavirus (2019-nCoV) pandemic, it said.
Glencore is not experiencing any material disruptions at its operating assets or within its supply chain due to the novel coronavirus (2019-nCoV), it said, but it has experienced an impact on certain smaller operations where governments have imposed restrictions.
The Chinese domestic spot battery-grade lithium carbonate price fell by 2.1% on Thursday March 19 hitting a new low, with more European carmakers closing production due to the spread of the coronavirus (2019-nCoV) and market participants feeling increasing pressure on the whole market.
ArcelorMittal’s sourcing business has declared force majeure on contracts amid the spread of the novel coronavirus (2019-nCoV) in Europe, according to a letter seen by Fastmarkets.