FX.co ★ Iron Ore Steadies Amid US-China Trade Talks

Iron ore futures maintained a level above $702 per tonne on Tuesday, continuing a two-week period of stable trading as investors balanced cautious optimism about US-China trade discussions with weak economic indicators from China. Talks between US and Chinese officials proceeded in London, with a focus on rare earth shipments and potential easing of export restrictions. President Donald Trump noted that negotiating with China remains challenging, but he has been receiving encouraging updates from his team, contributing to a slight improvement in market sentiment. Despite this more positive outlook, iron ore prices remain close to an eight-month low, largely due to ongoing concerns regarding demand from China, the world's largest steel producer. Recent figures revealed that China's export growth in May did not meet expectations, primarily due to a significant decrease in shipments to the US amid ongoing trade tensions.