Aluminum prices continued their upward trajectory during the first weeks of April, repeatedly surpassing previous highs. This included breaching the $2,400/mt mark in the first week of Q2, edging closer to their peak in 2023. Currently at $2,454/mt, if aluminum prices exceed their January 18, 2023 peak of $2,662/mt, it could signal the end of […]
China Steel Corp yesterday announced its decision to keep domestic steel prices unchanged for the second consecutive month next month. The nation’s largest steelmaker stated that it considered customers’ export competitiveness and the ongoing consolidation in the regional steel market when making this decision. China Steel also highlighted the steady recovery of the global manufacturing […]
Iron ore futures continued their upward trajectory on Friday, poised for a weekly increase, buoyed by an optimistic demand forecast from leading consumer China and strengthened fundamentals in the short run. The most actively traded September contract for iron ore on China’s Dalian Commodity Exchange (DCE) concluded the daytime session with a 3.12% increase, reaching […]
At the beginning of the year, Australia overtook Russia to become China’s primary coal provider, coinciding with the ongoing improvement in bilateral relations between Beijing and Canberra. In January and February, Chinese customs data revealed a remarkable 3,188 percent surge in imports, amounting to US$1.34 billion, compared to nil shipments in January 2023. Australian coal […]
In 2023, global corporate dividends surged to an unprecedented $1.66 trillion, with record bank payouts contributing half of the growth, as revealed by a report on Wednesday. According to the quarterly Janus Henderson Global Dividend Index (JHGDI) report, 86% of listed companies worldwide either raised or maintained dividends, with projections indicating that dividend payouts could […]
Saudi Arabia and the United Arab Emirates’ state-owned oil companies aim to extract lithium from brine within their oilfields, as part of their strategy to diversify economies and capitalize on the rise of electric vehicles (EVs). Saudi Arabia, traditionally dependent on oil, has allocated billions towards becoming a center for electric vehicles (EVs) in line […]
Stocks showed a mixed performance in Asia on Tuesday following the announcement by China’s premier that the country’s economic growth target for this year is approximately 5%, aligning with forecasts. The benchmark index in Hong Kong declined, whereas Shanghai saw a slight increase. During the opening session of China’s National People’s Congress, Li Qiang announced […]
Amidst the onslaught of cheaper vehicles from Chinese competitors challenging them on their home ground, Europe’s car manufacturers and their already-stretched suppliers are facing a challenging year as they hasten to reduce costs for electric models. A significant question arises regarding how much further Europe’s automakers can pressure suppliers, who have already initiated workforce reductions, […]
China’s ambitious Belt and Road Initiative (BRI) is propelling the international adoption of the yuan. This massive infrastructure and energy project connecting Asia, Africa, and Europe has spurred a surge in the yuan’s global utilization. In a significant shift, SWIFT data reveals that the yuan’s share of global payments skyrocketed to 3.71% in September, up […]
