Iron ore dips, but set for weekly gain on resilient Chinese demand

From brecorder.com

Iron ore futures prices dipped on Friday amid rising trade war concerns, though were set for weekly gains on strengthening demand for the key steelmaking ingredient in top consumer China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.57% lower at 782.5 yuan ($107.7) a metric ton, as of 0237 GMT. The contract has gained 2.96% so far this week. The benchmark April iron ore on the Singapore Exchange was 0.52% lower at $102.95 a ton, gaining 3.14% this week so far. Hot metal output continued to increase in March by 10,200 tons to 2.3728 million tons month-on-month, and the ... (full story)