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Iron ore dips on Chinese export woes, but resilient demand limits losses - REUTERS

FEBRUARY 27, 2025

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SINGAPORE, Feb 27 (Reuters) - Iron ore futures prices closed lower on Thursday, pressured by escalating tariff measures against Chinese steel, though solid demand for the steel-making ingredient in top consumer China cushioned the downward trend.

The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) ended daytime trade 0.8% lower at 805 yuan ($110.77) a metric ton.
The benchmark March iron ore on the Singapore Exchange was trading 0.93% lower at $104.9 a ton.

The outlook for Chinese steel exports is uncertain, as more countries impose tariffs on Chinese steel products.

After U.S. President Donald Trump's decision earlier this month to impose 25% tariffs on all steel products, Vietnam announced a temporary anti-dumping levy on Chinese steel, with South Korea provisionally deciding to impose up to 38% tariffs on Chinese steel plate imports.
The EU is also considering steel import curbs following Trump's tariff threats.

MARKET NEWS

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