UBM - Coronavirus Likely To Impact Steel Iron Ore Demand In 2020
By Stuart Burns
Another victim of China's coronavirus epidemic could well be the iron ore price.
Iron ore had a stellar 2019, reaching a five-year high of $125 per ton in July on the back of Vale SA's (VALE) Brumadinho mining dam disaster and Cyclone Veronica, which struck Western Australia in March.
Since then, the price has fallen back to just over $78 per ton in December and is currently trading around $90 per ton in Singapore - still well above prices this time last year.
Supply disruption was met with rising demand.