Industry News

Iron-ore edges higher on firmer steel output, but Trump tariff pledge weighs on market

Views : 0
Update time : 2024-11-26 16:30:00
The most-traded January iron-ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 traded 0.77% higher at 786.5 yuan ($108.41) a metric ton, as of 0240 GMT.

The benchmark December iron-ore SZZFZ4 on the Singap-ore Exchange was 0.19% higher at $102.8 a ton.

The World Steel Association revised its production data upwards on Monday to show global crude steel output in October rose 1% from a year earlier, compared with a 0.4% gain reported last Friday.

In China, the world's top producer and consumer of the metal, crude steel production climbed 2.9% last month, latest data showed.

Meanwhile, Trump pledged an additional 10% tariff on all Chinese goods until Beijing stops the flow of illegal drugs into the United States.

China, the world's second-largest economy, is now in a much m-ore vulnerable position given the country's prolonged property downturn, debt risks and weak domestic demand.

Related News
Read More >>
Finnish aluminium exports to Russia doubles with no 'technical' violations of the sanction Finnish aluminium exports to Russia doubles with no 'technical' violations of the sanction
Nov .26.2024
Finnish aluminium exports to Russia doubles with no 'technical' violations of the sanction
Rusal to cut 6% annual aluminium production due to alumina price surge and decreased domestic demand Rusal to cut 6% annual aluminium production due to alumina price surge and decreased domestic demand
Nov .26.2024
Rusal to cut 6% annual aluminium production due to alumina price surge and decreased domestic demand
Aluminium ingot pricing, both primary and secondary, on the downward slope on SMM listing Aluminium ingot pricing, both primary and secondary, on the downward slope on SMM listing
Nov .26.2024
Aluminium ingot pricing, both primary and secondary, on the downward slope on SMM listing
Resealable aluminium cans: Canovation’s solution for reducing plastic waste pollution Resealable aluminium cans: Canovation’s solution for reducing plastic waste pollution
Nov .26.2024
Resealable aluminium cans: Canovation’s solution for reducing plastic waste pollution