Trump, Xi Focus on Trade and AI at White House Summit 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
China Agrees to Buy 20 Million Tons of U.S. Coal 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Fed Unveils Stablecoin Rules Under GENIUS Act 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Add as a preferred source on Google
Iron ore futures edged lower on Wednesday as escalating trade tensions between the U.S. and China pressured prices. However, optimism over rising Chinese steel demand helped cushion the decline.
The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) fell 0.7% to 776 yuan ($106.76) per metric ton as of 0249 GMT. The benchmark April iron ore contract on the Singapore Exchange dropped 1.07% to $99.75 per ton.
Market sentiment weakened after U.S. President Donald Trump’s tariff hike on Chinese goods to 20% took effect Tuesday. In response, Beijing imposed higher import levies on $21 billion worth of U.S. agricultural products, suspended soybean import licenses for three American firms, and halted log imports. The potential for further tariffs weighed on investor confidence, with additional U.S. duties on steel and aluminum set to begin on March 12.
Despite trade concerns, China maintained its economic growth target at around 5% and boosted stimulus efforts to counter rising tariffs. A private-sector survey showed China’s services sector expanded slightly in February, driven by increased demand.
China’s iron ore supply and demand are expected to strengthen in March, typically a peak season for steel consumption. According to Chinese consultancy Mysteel, this could keep iron ore prices stable despite market volatility. Meanwhile, Beijing announced plans to restructure its struggling steel industry by enforcing production cuts.
Most steel benchmarks on the Shanghai Futures Exchange slipped, with rebar down 0.27%, hot-rolled coil falling 0.24%, and stainless steel declining 0.35%. Other steelmaking materials also weakened, with coking coal and coke prices dropping 2.19% and 1.82%, respectively.
While trade uncertainties persist, strong Chinese steel demand and supply constraints may support iron ore prices in the coming months.
