Novel coronavirus pneumonia and its impact on the new China were discussed on the afternoon of March 13th by the relevant leaders of the China Iron and Steel Association and the Shanghai Office of the vale. No novel coronavirus pneumonia has been reported in vale, according to vale. The epidemic has not had any substantial impact on its operations, logistics, sales or financial position.
On March 12, Vale issued a notice on the impact of the epidemic, which introduced the measures taken by the company to protect its employees and business operations from the impact of the epidemic, such as setting up specialized agencies to manage and prevent the epidemic, canceling or delaying unnecessary business travel and activities, and implementing family office, etc. It is hoped that the relevant media will not take the meaning out of context and over interpret, mislead market expectations, intensify financial market volatility and disrupt the smooth operation of the iron ore market.
The head of the association said that since the outbreak of the disease, steel prices have fallen sharply and iron ore prices have remained high, which is not conducive to the long-term healthy development of the steel and iron ore industry chain. Suppliers of iron and steel and iron ore shall further strengthen communication and exchange through various means, make information disclosure, and jointly maintain an open, fair, fair and transparent iron ore market order.
China's novel coronavirus pneumonia Association expressed its condolences to the head of the Steel Association. He hoped that the Shanghai office would introduce the successful experience and effective practices of China against the new crown pneumonia epidemic to the branches of the vale in the world, and work together to tide over the difficulties.
