Dalian iron ore climbs

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SINGAPORE- Dalian iron ore futures rose on Friday to log a small weekly gain, aided by resilient demand in top consumer China, even as investors fretted over mounting trade tensions between the United States and China.

The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.69 percent higher at 806.5 yuan ($111.26) a metric ton, posting a weekly gain of 0.31 percent.

The benchmark February iron ore on the Singapore Exchange traded 1.34 percent higher at $105.1 a ton. The contract has lost 0.14 percent so far this week.

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China’s factory activity likely expanded for a fourth month in January, a Reuters poll showed, even as the country braces for US tariff hikes.

Moreover, China’s consumer trade-in scheme boosted consumption growth by more than 1 percent in 2024, Vice Commerce Minister Sheng Qiuping said on Friday.

Total portside ore stockpiles dipped 0.17 percent from the previous week to 145.65 million tons, as of Jan. 24, according to Steelhome data.

On Thursday, Washington introduced a bill that would revoke China’s preferential trade status with the US phase in steep tariffs and end the “de minimis” exemption for low-value Chinese imports.

US President Donald Trump has also vowed more duties against Chinese imports.

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