In a climate of economic uncertainty, China's largest banks have begun to release their quarterly reports with news of declining profits. The Industrial and Commercial Bank of China (ICBC) $1398.HK recorded a 3.99% drop in net income, totaling 84.2 billion yuan ($11.6 billion). Similar trends emerged among other major banks, raising concerns about the future stability of the banking sector in the country.

Iron ore futures prices fell on Friday, reflecting growing concerns over potential US tariff measures and escalating trade disputes regarding Chinese steel exports. This article provides an in-depth analysis of the current market conditions and examines the factors influencing the ongoing price decline within the global commodities landscape.