Industry News

Iron ore futures slip as demand fears persist on China’s Covid outbreaks

Views : 100
Update time : 2022-04-14 18:11:23

The steelmaking raw material’s most-active September contract on China’s Dalian Commodity Exchange ended the morning trade 0.7% lower at 890.50 yuan ($139.89) a tonne. On the Singapore Exchange, the front-month iron ore contract shed 1.7% to $153.05 a tonne. “Tighter epidemic controls announced last night in Guangzhou’s Huadu district and fresh peaks in Shanghai COVID-19 transmissions (reported) this morning have once again destabilized iron ore futures,” said Navigate Commodities analyst Vincent Chan.

Shanghai authorities warned on Wednesday anyone who violates strict lockdown rules will be dealt with strictly, while also rallying people to defend their city as its tally of new cases rebounded to more than 25,000.

Related News
Read More >>
Ball Corporation confirms US aluminium tariff impact on its Q1 2025 net earnings despite improved shipments Ball Corporation confirms US aluminium tariff impact on its Q1 2025 net earnings despite improved shipments
May .08.2025
Ball Corporation confirms US aluminium tariff impact on its Q1 2025 net earnings despite improved shipments
India proposes tariff reductions on US imports India proposes tariff reductions on US imports
May .08.2025
India proposes tariff reductions on US imports
ArcelorMittal & WOLF GmbH partner for low carbon-emissions steel in HVAC industry ArcelorMittal & WOLF GmbH partner for low carbon-emissions steel in HVAC industry
May .08.2025
ArcelorMittal & WOLF GmbH partner for low carbon-emissions steel in HVAC industry
India issues new quality control order on 17 categories of aluminum products India issues new quality control order on 17 categories of aluminum products
May .08.2025
India issues new quality control order on 17 categories of aluminum products