[Ferro-Alloys.com] The demand for steel was delayed due to the coronavirus and the steel price kept declining in February.

Data of Statistical Commission of Kazakhstan which was released on Tuesday showed that, the ferroalloys production of Kazakhstan in February was 171563 tons, down by 9.5% vs. January, 2020 and up by 2.5% vs. February, 2019. The cumulative production of ferroalloys from January to February was 361184 tons, up by 3.8% YoY.

To March 16, 2020, there were 193 coal mines cumulatively in Ordos City and the total production capacity was 592 million tons, including 2 coal mines which resumed production on March 16 with 1 million tons of production capacity.

The global Coronavirus outbreak is likely to rein in the rally in Indian domestic steel prices, in step with global steel prices which have sharply declined from January highs.

Iron ore miner NMDC has slashed prices of lump ore and fines by Rs 50 per tonne. 

Up to 50 percent of Vietnam’s logistics firms estimate they will see revenue cut in half this year compared to 2019 because of the COVID-19 pandemic.

Click here for more information: Ferrosilicon Daily Express 3.20