SINGAPORE (Reuters) -Iron ore futures prices fell on Friday and were set for monthly losses, pressured by U.S. tariff concerns and mounting trade frictions against Chinese steel exports.
The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) closed down 0.74% to 799.5 yuan ($109.72) a metric ton.
The contract has lost 1.17% for the month.
The benchmark March iron ore on the Singapore Exchange was 1.36% lower at $103.65 a ton, losing 1.94% in February.
U.S. President Donald Trump said on Thursday his proposed 25% tariffs on Mexican and Canadian goods will take effect on March 4 along with an extra 10% duty on Chinese imports.
Trump imposed a 10% tariff on Chinese imports earlier this month, resulting in a cumulative 20% tariff.
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