IRON ORE PRICES SNAP FOUR-DAY RISE DUE TO MORE DUTIES ON CHINESE STEEL
Dalian iron ore futures prices snapped a four-day winning streak on Monday as increasing levies on Chinese steel dampened demand prospects for the key steelmaking ingredient, though decreasing portside inventories in China limited the fall. The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) ended daytime trade 0.77% lower at 832.5 yuan ($114.95) a metric ton. Vietnam will impose a temporary anti-dumping levy of up to 27.83% on some steel products from China, according to a trade ministry document seen by Reuters.
- The escalating global trade tensions and rising protectionist measures in key markets may further disrupt iron ore prices, highlighting the need for more targeted and sustainable solutions.
- Will the ongoing trade disputes lead to a shift towards more environmentally friendly and efficient steel production methods, or will the focus remain on cheap imports?