The price of iron and other minerals drops after Trump's threat of laying up fees on China

The prices of iron ore and most basic minerals have dropped after US President Donald Trump said it could impose 10% of customs on all China’s imports, indicating that the first of February could be the potential date for its application. The prices of the future contracts of the mineral used in steel fell 1.3% after the threat of the US president, who described the procedure as in response to the smuggling of China Fintanel’s anesthesia to North America. Although the United States is not one of the largest Chinese steel importers, customs pie lights can affect the local market and reduce the chances of recovering economy. Increasing pressure on the prices of minerals The prices of iron ore fell by more than a quarter during 2024, where economic problems and crisis in the property sector in China had a negative impact on demand, and the supplies of major mining companies in Australia and Brazil increased at the same time. Prices rose 3% this year thanks to the increasing positive signals in the Chinese economy, as well as optimism in the application of Beijing, more measures to stimulate the economy. Read more: from oil to minerals. Trump’s policy is pushing for the prices of basic merchandise, Trump’s threat of imposing customs duties on China, announced a day after announcing the possibility of the 25% definitions on Mexico and Canada at the beginning of February. This led to the decline in the prices of the basic minerals on the London Metal Stock Exchange, and this decline continued on Wednesday. The prices of future iron crude contracts dropped 0.8% to $ 103.95 per tonne in Singapore at about 1:59 p.m., and the prices of contracts denominated in the Yuan in Dalian, as well as steel prices in Shanghai. In the same context, the price of buyer on the London Metal Stock Exchange fell by 0.5% to $ 9243 per tonne, lower than the highest closing price in more than two months, as well as aluminum and nickel.