Industry News

Iron ore logs monthly loss on China steel export concerns

Views : 58
Update time : 2025-02-28 18:37:26

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.

Related News
Read More >>
Taiwan’s Yieh Phui seeks vindication after US preliminary dumping determination on corrosion-resistant steel products Taiwan’s Yieh Phui seeks vindication after US preliminary dumping determination on corrosion-resistant steel products
Apr .17.2025
Taiwan’s Yieh Phui seeks vindication after US preliminary dumping determination on corrosion-resistant steel products
Rio Tinto posts declines in Q1 Pilbara iron ore shipments & production Rio Tinto posts declines in Q1 Pilbara iron ore shipments & production
Apr .17.2025
Rio Tinto posts declines in Q1 Pilbara iron ore shipments & production
China’s crude steel output rises by 4.6% in May, hitting 10-month high China’s crude steel output rises by 4.6% in May, hitting 10-month high
Apr .17.2025
China’s crude steel output rises by 4.6% in May, hitting 10-month high
Philippine SteelAsia to start new steel sections mill in 2027 Philippine SteelAsia to start new steel sections mill in 2027
Apr .17.2025
Philippine SteelAsia to start new steel sections mill in 2027