Industry News

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

Views : 74
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 >>
Alstone unveils its much-awaited aluminium honeycomb panel in Bengaluru, receives positive feedback from industry leaders Alstone unveils its much-awaited aluminium honeycomb panel in Bengaluru, receives positive feedback from industry leaders
May .12.2025
Alstone unveils its much-awaited aluminium honeycomb panel in Bengaluru, receives positive feedback from industry leaders
Supply-demand imbalance coupled with cost disturbances led to a decline in ADC12 prices in Q2 Supply-demand imbalance coupled with cost disturbances led to a decline in ADC12 prices in Q2
May .12.2025
Supply-demand imbalance coupled with cost disturbances led to a decline in ADC12 prices in Q2
Century Aluminum's EPS falls, revenue exceeds expectations in Q1 Century Aluminum's EPS falls, revenue exceeds expectations in Q1
May .12.2025
Century Aluminum's EPS falls, revenue exceeds expectations in Q1
Thyssenkrupp’s steel division & IG Metall union reach restructuring agreement Thyssenkrupp’s steel division & IG Metall union reach restructuring agreement
May .12.2025
Thyssenkrupp’s steel division & IG Metall union reach restructuring agreement