Iron ore stocks have fallen rapidly over the recent months, as disruption at Vale SA operations caused total production to fall by 11.1% to 72.9 million tonnes year-over-year in the March quarter of 2019. After the accident, alumina penalties increased due to the raised proportion of the impurity in the global blend, from US$1.7/dmt on Jan 25 to US$4.7/dmt on Jan 31, before reaching a 2019-high of US$6/dmt on May 16. Buyers in China experienced an average of 29.2% year-over-year decline, to 9.5 Mt of iron ore shipments from Brazil in March. Meanwhile, after an initial assessment on the potential side effects of the Brumadinho dam collapse, S&P Global Ratings affirmed its BBB- ratings on Vale in March..
Join us as S&P Global experts discuss the following:
Impact of Vale’s dam collapse incident on global iron ore production
Outlook of the iron ore and steel market in the second half of 2019
Review iron ore and steel raw materials prices – China and global markets post-Vale incident
Update on iron ore pellets, pellet feed and alumina constraints in pricing
How Brazilian iron ore export was affected by Vale’s incident
Implications of trade war and iron ore supply deficits on steel exports
Expectations on Vale’s performance and major iron ore producers
Outlook on the European steel market and review on recent deals; Tata-Thyssenkrupp AG Liberty-ArcelorMittal and Ilva steel service centres
Maximilian CourtSenior Commodity Analyst, S&P Global Market Intelligence
Based in London, UK, Maximilian covers global commodity market analysis and leads the analysis published in S&P Global Market Intelligence’s Commodity Briefing Services. Maximilian specializes in analyzing Chinese demand for steel and other end-use metals-products; and how that demand translates into the supply of mined ores and concentrates.
Before joining SPGMI in 2016, Maximilian was a senior specialist in market research roles with Rio Tinto Plc, related to steel, iron ore and copper concentrate. Maximilian spent over four years with Rio Tinto’s iron ore industry analysis division based in Perth, Western Australia. He has also worked in market research roles covering raw materials in India, China, Australia, Singapore and the UK. Maximilian holds a bachelor in International Economics from a British university and a Masters in Contemporary Chinese Studies from a Chinese university. Minimize
S&P Global Contributor
Chris RogersSr. Supply Chain Research Analyst - Panjiva, S&P Global Market Intelligence
Chris Rogers joined S&P Global as part of the acquisition of Panjiva in 2018. Full Bio
Chris Rogers joined S&P Global as part of the acquisition of Panjiva in 2018. His research covers international trade policy, logistics sector trends and analysis of industrial supply chains. Previously he worked as an international trade analyst at Bloomberg Intelligence after spending nearly 20 years covering the global energy industry as a sell-side analyst at institutions including JPMorgan and UBS. Minimize
S&P Global Contributor
Elad JelaskoDIrector, Credit Analyst (Commodities), S&P Global Ratings
S&P Global Contributor
Hector ForsterSenior Editor - EMEA, Americas Steel Raw Materials, Metals Analytics, S&P Global Platts
Hector Forster oversees iron ore, met coal and coke coverage editorial, pricing and analysis at S&P Global Platts. He also oversees price and trade analysis and analytics products such as Turkey ARC, Plats TSI met coal and iron ore RSIs, steel mill economics, and models and ratios around steel raw materials with steel. Full Bio
Hector Forster oversees iron ore, met coal and coke coverage editorial, pricing and analysis at S&P Global Platts. He also oversees price and trade analysis and analytics products such as Turkey ARC, Plats TSI met coal and iron ore RSIs, steel mill economics, and models and ratios around steel raw materials with steel. Minimize
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