Bloomberg – Iron mineral rose as the feeling in all financial markets was promoted after the US president, Donald Trump, said he was willing to reduce tariffs to China at some point.
The futures of the steel ingredient quoted upwards since Trump said the taxes were so high that the businesses between the two countries had stopped essentially. He also said that commercial agreements with some countries could come as soon as this week.
See more: Vale sees the iron ore on US $ 85 the ton despite tariff agitation
Iron mineral has been affectedtogether with other industrial metals, due to strong Trump tariffs, as concerns on economic impact and risks of deeper world conflicts increase.
Futures have experienced a recent weakness, since demand in China remains loose, possible cuts are coming in the steel production and increase supplies.
Futures in Singapore rose 0.6% to US $ 96.30 a ton at 9:55 local time, after registering a weekly decrease of 2.7% on Friday. The Chinese markets remained closed by festive.
Read more at Bloomberg.com
