Wall Street Ends Mixed as Alphabet Slumps, Middle East Developments and Fed Outlook Weigh on Markets 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
US Dollar Hits One-Year High as Hawkish Fed Outlook Overshadows Middle East Developments 
U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
Gold Price Rises as Investors Weigh U.S.-Iran Talks and Fed Policy Outlook 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Oil Prices Fall as Iran Peace Talks Progress, Hormuz Reopens, and U.S. SPR Hits 1983 Low 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
Iron ore futures fell on Monday, snapping a four-day rally as rising levies on Chinese steel weakened demand prospects. However, declining portside inventories in China limited the losses.
The most-traded May iron ore contract on the Dalian Commodity Exchange (DCE) dropped 0.89% to 831.5 yuan ($114.87) per metric ton as of 0250 GMT. Meanwhile, the benchmark March contract on the Singapore Exchange inched 0.22% lower to $108.25 per ton.
Vietnam imposed a temporary anti-dumping tariff of up to 27.83% on some Chinese steel imports, following similar actions by the U.S. and South Korea. This move adds pressure to China’s steel sector, impacting iron ore demand.
Chinese blast furnace steel mills continued cutting production as regular maintenance work increased. According to consultancy Mysteel, the capacity utilization rate of surveyed mills declined for the second consecutive week, with daily hot metal production down 0.21% to 2.28 million tons as of February 20. Hot metal output serves as a key indicator of iron ore demand.
Despite lower demand, global iron ore shipments have slightly declined year-on-year, influenced by adverse Australian weather, Hexun Futures reported. Additionally, China’s portside iron ore inventories dropped 1.15% to 145.8 million metric tons as of February 21, according to SteelHome data, signaling potential supply tightening.
Other steelmaking inputs also posted losses on the DCE, with coking coal falling 1.77% and coke dropping 2.46%. Most steel benchmarks on the Shanghai Futures Exchange followed suit, with rebar down 0.8%, hot-rolled coil slipping 1.3%, and stainless steel dipping 0.49%, while wire rod gained 0.76%.
As the global steel market reacts to new tariffs and production shifts, iron ore traders remain cautious amid fluctuating demand and supply trends.
