Dalian iron ore rises as resilient China demand outweighs US tariff woes

From brecorder.com

Iron ore futures strengthened on Wednesday, underpinned by resilient seasonal demand for the key steelmaking ingredient that countered trade war concerns ahead of looming US tariffs. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) gained 1.15% to 792 yuan ($108.95) a metric ton as of 0257 GMT. The benchmark May iron ore on the Singapore Exchange eased 0.09% to $102.8 a ton. Steel production is increasing overall, rising higher than last year, said broker Galaxy Futures.Production at Chinese blast furnace steelmakers rose for the fifth consecutive week on March 27, driven by a ... (full story)