SINGAPORE- Iron ore futures fell for a sixth straight session on Monday amid rising trade tensions between the US and top consumer China, although upbeat Chinese manufacturing data cushioned the fall.
The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) eased 0.75 percent to 796 yuan ($109.32) a metric ton.
Earlier in the session, prices hit 788 yuan, the lowest since January 16.
The benchmark March iron ore on the Singapore Exchange shed 0.15 percent to $103.1 a ton.
US Treasury Secretary Scott Bessent said on Friday that Mexico has proposed matching US tariffs on China after US President Donald Trump vowed another 10 percent tariffs on Chinese imports last week.
Trump also announced plans to impose 25 percent tariffs on all steel and aluminum imports from March 4, stirring a new wave of trade frictions against Chinese steel.
The US steel tariffs are also set to disrupt the Chinese transshipment of steel estimated at $7 billion, undercutting a vital source of sales for China’s struggling steel sector, Reuters reported last week.
Still, China’s factory activity grew at a faster pace in February, driven by stronger supply and demand and a rebound in export orders, a private-sector survey showed on Monday.
