FX.co ★ Iron Ore Holds Steady After Chinese Trade Data

Iron ore futures stabilized at approximately CNY 786 per tonne on Monday, as market participants weighed the implications of China's recent trade data. The figures highlighted a 4.4% increase in Chinese exports for August, marking the slowest growth rate in six months, largely due to a significant 33% decrease in shipments to the US amid ongoing tariff challenges. Meanwhile, imports grew by a modest 1.3%, falling short of the predicted 3% increase, hampered by persistent issues in the property sector and increasing job insecurity. Nonetheless, iron ore imports saw a slight uptick as purchasers geared up for heightened industrial activity, reaching 105.23 million tonnes, a 0.6% rise from July. In related trade movements, steel product imports increased by 11.1% to 0.50 million tonnes, while steel exports experienced a 3.4% decline, totaling 9.51 million tonnes.