Industry News

Iron Ore and Other Metals Drop After Trump’s China Tariff Threat

Views : 38
Update time : 2025-01-22 16:43:23
Iron ore and most base metals fell after US President Donald Trump said that he could hit China with 10% tariffs on all imports, suggesting Feb. 1 as the possible start date.

Futures of the steelmaking material declined as much as 1.3% after the president’s threat, which he said was in response to China sending the drug fentanyl to North America. While the US is not a key importer of Chinese steel, its tariffs could impact the domestic market and dampen the prospect of economic recovery.

Iron ore prices slumped by more than a quarter in 2024, as China’s economic problems and real estate-sector crisis weighed on demand, while big miners in Australia and Brazil boosted supplies. Prices have edged up 3% this year on more positive signs in the Chinese economy, along with optimism Beijing could implement more stimulus.

Trump’s levy threat against China came a day after his announcement that he may enact tariffs of as much as 25% tariffs on Mexico and Canada at the start of February. That triggered a slump in prices of base metals on the London Metal Exchange, which has extended into Wednesday’s trading.

Related News
Read More >>
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Mar .12.2025
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Mar .12.2025
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they? Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
Mar .12.2025
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
International crude oil prices increase on Mar 11 International crude oil prices increase on Mar 11
Mar .12.2025
International crude oil prices increase on Mar 11