China AM: Ferrous futures fall after Trump signs US steel tariffs into law

China’s ferrous futures plunged during morning trading on Friday March 9 after United States President Donald Trump signed off on a 25% tariff on steel imports a day earlier.

Futures closing prices – morning session Shanghai Futures Exchange May rebar: 3,703 ($584) per tonne, down 76 yuan per tonne May hot-rolled coil: 3,805 yuan per tonne, down 62 yuan per tonne Dalian Commodity Exchange May iron ore: 486.50 yuan per tonne, down 10 yuan per tonne May coking coal: 1,307 yuan per tonne, down 24 yuan per tonne May coke: 2,052.50 yuan per tonne, down 63.50 yuan per tonne Raw materials The following was obtained from market sources: Rio Tinto, tender, 170,000 tonnes of 61% Fe Pilbara Blend fines,...

Published

Gladdy Chu

March 09, 2018

06:15 GMT

Shanghai