Iron ore at nearly 2-month low
BEIJING: Iron ore futures slipped to their lowest in nearly two months on Tuesday, dragged down by demand fears sparked by US President Donald Trump's plan to double the tariffs on steel imports to 50% and weak factory data in top consumer China.
The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) ended morning trade 0.92% lower at 697 yuan ($96.84) a metric ton. The contract hit its lowest since April 10 at 690.5 yuan a ton earlier in the session.
The benchmark July iron ore on the Singapore Exchange eased 1.03% to $94.25 a ton as of 0334 GMT, after touching its lowest since April 10 at $93.8 earlier.
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