US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Iron ore futures fell on Friday, poised for modest monthly losses as U.S. tariffs and escalating trade tensions pressured Chinese steel exports.
The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dropped 0.43% to 802 yuan ($110.07) per metric ton as of 0250 GMT, losing 0.93% in February. Singapore’s benchmark March iron ore contract declined 0.89% to $104.15 a ton, marking a 0.59% monthly loss.
U.S. President Donald Trump reaffirmed a 25% tariff on Mexican and Canadian imports starting March 4, alongside an additional 10% duty on Chinese goods, totaling a cumulative 20% tariff. Trump also announced a 25% tariff on all steel and aluminum imports, exacerbating trade tensions with China.
Vietnam and South Korea have implemented temporary tariffs on Chinese steel, further pressuring China’s struggling steel sector. The U.S. steel tariffs are expected to disrupt China’s $7 billion steel transshipment market, impacting a crucial revenue source.
Meanwhile, concerns over China’s trade-in scheme inefficiencies could prompt consumer-focused policies when the annual parliamentary meeting begins on March 5.
Steel futures on the Shanghai Futures Exchange mostly declined. Rebar fell 0.42%, hot-rolled coil dipped nearly 0.5%, and wire rod lost 0.34%, while stainless steel gained 0.3%. Domestic steel demand showed signs of recovery, with major steel product inventories decreasing 2.3% to 5.37 million tons, according to consultancy Mysteel.
Other steelmaking ingredients on the DCE edged up, with coking coal rising 0.09% and coke increasing 0.3%.
As global trade tensions persist, investors remain cautious about iron ore and steel market trends.
