Iron ore futures slid on Friday and were set to end the week lower, weighed by the European Commission’s plan to impose steep tariffs on Chinese steel imports. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.56% lower at 799.5 yuan ($112.10) a metric ton as of 0310 GMT, and was poised to end the week 0.74% lower. The benchmark September iron ore on the Singapore Exchange fell 0.09% to $105.5 a ton, and was set to end the week down 0.19%. The European Commission plans to levy tariffs of 25%-50% on Chinese steel and related products in the coming weeks, per German business ... (full story)