Those expecting a boost in Chinese imports of iron ore as happened following the global financial crisis were disappointed.

Operations at the world's deepest gold mine, in South Africa, have been halted after 164 cases of coronavirus were detected there.

"Coal and iron ore used to be piled up on the dock without cover, and sewage flowed everywhere after it rained. Coming back from the dock, I would throw my shoes away," said Nie Zhiqiang, who has lived near the port for about half a century.

Cleveland-Cliffs expects its US steelmaking operations to begin normalizing over the second and third quarters, depending on automotive plant restarts.

“Industrial activities (in China) are practically at their normal levels…Civil construction is also rising daily and steel and iron ore stocks are falling,” he said.

Concerns about Brazilian iron ore supply resurfaced among market participants this past week.

Decline forecasted due to excessive global output and cheap scrap metal.

The University of Science and Technology in Beijing has launched an online course where renowned scholars are invited to deliver online speeches about the evolution of China's iron and steel industry since April 23.