The logo of Australia's Fortescue Metals Group can be seen on a bulk carrier as it is loaded with iron ore at the coastal town of Port Hedland in Western Australia, on November 29, 201. - Reuters
NEW YORK (Bloomberg): Producers of raw materials who rely on China for the bulk of their sales are showing confidence the risks posed by the coronavirus outbreak may soon ease -- and are poised to benefit from a forecast demand rebound.
Iron ore shipper Fortescue Metals Group Ltd on Wednesday (Feb 19) added to guarded optimism expressed by BHP Group as well as a developing positive outlook from banks, including UBS Group AG, over the prospects for a sharp recovery in China’s growth from next quarter, a scenario that’ll spur commodities imports.
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