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【Ferro-alloys.com】: Iron-ore swung between gains and losses on market uncertainty around steel output cuts and as industry stalwart Andrew Forrest expressed hope that China is serious about supporting its economy.

Futures of the steelmaking ingredient were little changed at $101.50 a ton, after earlier rising as much as 0.8%. Prices have been buffeted this month by rumors of steel output cuts and US tariff announcements and are almost flat this year after losing more than a quarter in 2024.

Forrest, the billionaire founder and chairman of no. 4 iron-ore miner Fortescue, painted a mixed picture on the outlook. He said that while tariffs were a “sugar-hit” and not a good trend for the economy, he was optimistic about China’s ability to reboot its economy after meeting with Premier Li Qiang.

“China’s message is that it’s going to stay the course,” Forrest said from the Boao Forum in Hainan province on Wednesday, when asked about domestic consumption and end-demand for steel. “It’s very serious about building its economy.”

Singapore futures slipped 0.1% to $101.50 a ton at 11:33 a.m. local time. Yuan-priced futures on the Dalian exchange rose, while steel contracts in Shanghai were mixed.

• [Editor:Alakay]