Reported about 5 hours ago
Iron ore futures experienced a decline on Tuesday, with prices affected by a rise in shipments and new tariffs on Chinese steel exports. The May iron ore contract on China's Dalian Commodity Exchange fell by 1.14%, while the benchmark on the Singapore Exchange dropped 1.49%. Legislation aimed at Chinese steel manufacturing, including measures to combat production shifts and tougher anti-dumping rules, is also contributing to the downward trend in prices. Reports indicate a significant rebound in iron ore shipments, enhancing supply and further affecting market dynamics.
Source: YAHOO