Iron Ore Extends Losing Streak on Sino-US Trade Tensions.
Dalian iron ore futures slid for a seventh consecutive session, with prices falling following reports that Chinese steel mills are reducing production to ease pollution levels ahead of the annual National People's Congress (NPC) meeting. The most-traded May iron ore contract on China's DCE closed down 1.14% at 781 yuan ($107.26) a metric ton, amidst ongoing trade tensions with the US. Tariff hikes on Chinese goods and restrictions on US firms are also affecting export outlooks.
- The escalating trade tensions between China and the US will likely have far-reaching consequences for global commodity markets, including iron ore, and may lead to a more volatile market environment.
- How will the impact of these tariffs on global supply chains and production costs be felt in other industries, such as construction and manufacturing?