On Friday, iron ore futures on the Dalian Commodity Exchange (DCE) lost ground amid a deepening global trade war and lower demand expectations in China. The May iron ore contract ended day trade with a 0.33% decrease at CNY 757.5 (USD 104.52) per metric ton, down 3.8% on the week. Other steelmaking components on the DCE experienced a similar decrease. Coke coal decreased by 1.8% and coke by 1.76%.
Moreover, steel indices on the Shanghai Futures Exchange moved in a narrow range. Rebar and hot rolled coil prices were only slightly changed, while wire rod and stainless steel decreased by 0.38% and 0.6%, respectively.
While these developments have attracted investors' attention, the general uncertainty in the markets continues to persist.
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