financetom
Business
financetom
/
Business
/
Iron ore dips on Chinese export woes, but resilient demand limits losses
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Iron ore dips on Chinese export woes, but resilient demand limits losses
Feb 26, 2025 11:40 PM

SINGAPORE (Reuters) -Iron ore futures prices closed lower on Thursday, pressured by escalating tariff measures against Chinese steel, though solid demand for the steel-making ingredient in top consumer China cushioned the downward trend.

    The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) ended daytime trade 0.8% lower at 805 yuan ($110.77) a metric ton.

    The benchmark March iron ore on the Singapore Exchange was trading 0.93% lower at $104.9 a ton.

The outlook for Chinese steel exports is uncertain, as more countries impose tariffs on Chinese steel products.

After U.S. President Donald Trump's decision earlier this month to impose 25% tariffs on all steel products, Vietnam announced a temporary anti-dumping levy on Chinese steel, with South Korea provisionally deciding to impose up to 38% tariffs on Chinese steel plate imports.

The EU is also considering steel import curbs following Trump's tariff threats.

Still, daily crude steel output in mid-February among member mills of the China Iron and Steel Association (CISA) hit a seven-month high of 2.15 million tons, said Chinese consultancy Mysteel, citing statistics from CISA.

Additionally, inventories of imported iron ore sintering fines declined 3.8% wekk-on-week, indicating larger consumption of the steel feedstock, Mysteel said in a separate note.

Steel benchmarks on the Shanghai Futures Exchange rose. Rebar climbed nearly 0.5%, hot-rolled coil was up 0.35%, wire rod edged 0.54% higher and stainless steel gained 0.69%.

    Other steelmaking ingredients on the DCE gained ground, with coking coal and coke up 0.87% and 0.75%, respectively.

($1 = 7.2675 Chinese yuan)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved