Iron ore heads for weekly loss on caution over China demand prospects

From brecorder.com

Iron ore futures traded in a tight range on Friday, but were headed for a weekly loss due to mounting concerns over demand prospects in top consumer China amid an escalating global trade war. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) gained 0.13% to 761 yuan a metric ton as of 0214 GMT, posting a fall of 3.4% so far this week. The benchmark April iron ore on the Singapore Exchange shed 0.55% to $99.95 a ton, a decline of 3.9% so far this week. Iron ore rangebound amid China support for stocks and tariff concerns China is mulling setting up related funds to build a compensation ... (full story)