Iron ore ticks higher on firmer China demand; tariff concerns cap rise | Metals Mine

  • Iron ore ticks higher on firmer China demand; tariff concerns cap rise

    From brecorder.com

    Iron ore futures prices edged up on Monday as rising crude steel production in top consumer China bolstered sentiment for the steelmaking material, though US steel tariff concerns capped gains. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.28% higher at 705 yuan ($98.13) a metric ton, as of 0253 GMT. The benchmark July iron ore on the Singapore Exchange rose 0.25% to $94.4 a ton. China’s crude steel output in May gained 0.6% from April as mills boosted their operating rates to take advantage of healthy profit margins spurred by exports. Around 60% of blast-furnace ... (full story)

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