Iron ore prices to decrease in China only in case of quarantine extension

摘要

The situation in the Chinese market developed according to the most pessimistic scenario, with the coronavirus outbreak affecting trade in the local steel markets and bringing the construction segment to a standstill. Finished steel demand plummeted in China. Iron ore and HRC prices fell by $6/t and $30/t respectively in February. Flats exporters cut prices by $25?40/t to $465?490/t FOB.