Strong call-offs on metals, ferro-alloys amid logistics disruptions on coronavirus spread to Europe

Metal and ferro-alloy suppliers in Europe are reporting strong call-offs on sales to European consumers, some of which are stocking up in preparation for any disruptions that might be caused by the spread of the novel coronavirus infection (2019-nCoV).

Cases of the disease caused by the virus emerged in Wuhan, China, last year and have now spread to Europe, with Italy being hit hardest. There had been more than 300 cases in the Southern European country by Wednesday February 26, resulting in quarantine zones and road closures.
Reports of strong call-offs or stocking-up by consumers, or both, have come from suppliers of silicon metal, cobalt, manganese alloy and ferro-chrome.
"We are seeing stronger call-offs - not huge, but stronger - from stainless [steel] mills trying to replenish [their inventories] a bit more just in case. This is mainly for silicon metal," one supplier of multiple commodities told Fastmarkets.

"There are quarantine zones in northern Italy which will affect deliveries, and we fear that transportation companies will say their drivers don't want to go there in case they get stuck there," the source added. "Some customers are asking us for more material...

Mixed outlook for gold as it remains range bound for past three months

Gold stocks down on flat metal price

Gold stocks down on metal decline

Huge quantifiable rise in geopolitical, economic and trade risks

Platinum clearly ahead of palladium for first time in seven years