The price of iron rises after Trump's tip to lower the fees on China

The price of iron ore has risen with the increasing optimism of financial markets after US President Donald Trump expressed his willingness to reduce customs duties imposed on China at some point. The prices of the future contracts for the mineral used in the steel industry have risen after Trump indicated that customs duties are so high that the commercial activity between the two countries actually stopped. He also pointed to the possibility of commercial agreements with some countries this week as soon as possible. The fees are shadowed on iron, the iron ore concerned, as well as other industrial minerals, are negative of the high customs lying that Trump imposed, in light of the increasing concerns associated with economic consequences and the risks of the increase in global trade conflicts. Future contracts have recently declined in the light of the continued decline in demand, the possibility of an imminent decline in steel production and the increase in supply. Future contracts in Singapore rose 0.6% to $ 96.3 per tonne at 9:55 pm local time, after a weekly decline by 2.7% on Friday. While the Chinese markets were closed for an official holiday.