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Crude Oil

Euro stocks calm down after French stock selloff; Dollar recovers despite Fed independence concerns

The U.S. Dollar recovered on Wednesday, despite investors' concerns about attacks on the independence of the Federal Reserve. European shares also edged up after a sharp decline the previous day, and now the focus is on earnings from AI leader Nvidia. Concerns about the independence of the U.S. Federal Reserve grew after a lawyer representing Fed Governor Lisa Cook announced that she would sue President Donald Trump for his decision to dismiss her on Monday. The dollar recovered from its previous session's drop and was 0.3% higher against a basket currency at 1210 GMT. Justin Onuekwusi is chief investment officer...

Crude Oil

US dollar, Treasuries slide on latest Trump attack on Fed

Dollar and U.S. Treasuries fell in Asian trading Tuesday, after President Donald Trump said he would remove a Federal Reserve Governor. This announcement undermined confidence in U.S. Assets. After Trump announced on Twitter that he would remove Lisa Cook from the board of directors of the Federal Reserve, it was the latest of a series attacks on the independence of the central bank. Asian shares fell in tandem with Wall Street, as the prospects of a Fed rate reduction next month became less certain. U.S. Stock Futures declined. Bart Wakabayashi is the Tokyo branch manager of State Street. He said,...

Crude Oil

Asian shares fluctuating, Dollar steady as traders wait for Powell's speech

The Asian stock market started the day on a cautious note as traders anxiously awaited Jerome Powell's speech at the annual Jackson Hole Symposium. The financial markets are waiting for Powell to give clues on the likely likelihood of a rate cut for September, in light of recent signs of weakness of the job market and the short-term outlook for policy. Carol Kong, economist and currency analyst at Commonwealth Bank of Australia Sydney, said that markets are on edge before the Jackson Hole Speech. S&P futures gained 0.1% following a five-day losing spree on Wall Street. This puts the cash...

Crude Oil

Oil and the dollar are advancing, while global equities are declining

Gold prices and global equities fell on Thursday as traders avoided big moves, and awaited the three-day annual Jackson Hole Symposium of the Federal Reserve. The symposium begins on Thursday, and traders will focus on Fed Chairman Jerome Powell's Friday speech as they look for clues about the possibility of a rate cut in September. The U.S. Treasury rates increased as the meeting began. Oil futures rose, supported by strong demand from the United States and uncertainty about efforts to end war in Ukraine. The U.S. Dollar also gained, gaining 0.35% compared to a basket other currencies. Stocks in Asia...

Crude Oil

Wall Street stocks drop as traders focus on Fed

Wall Street also opened lower on Thursday as traders avoided big moves in anticipation of the three-day Jackson Hole Symposium, which is being held by the Federal Reserve. Jackson Hole begins on Thursday, and traders will be watching for clues about a possible September rate cut. Stocks held near their recent highs in Asian trading and Australia's benchmark reached a new record. The European session was a struggle for the markets to gain ground. People are slouching. "You have two big unknowns in the near future, Jackson Hole tomorrow, and the Fed on September," said Tim Graf. He is head...

Crude Oil

European stocks drop, but dollar remains steady as traders await Jackson Hole

Early trading on Thursday saw European stock markets fall slightly, just below their recent highs. Traders avoided big moves, instead waiting for the three-day annual Jackson Hole Symposium of the Federal Reserve. Jackson Hole begins on Thursday, and traders will be watching for clues about the possibility of a rate cut in September. Fed Chair Jerome Powell is expected to speak on Friday. People are sitting around. "You have two big unknowns in the near future, Jackson Hole tomorrow, and the Fed on September," said Tim Graf. He is head of macro strategy at State Street Markets for EMEA. He...

Crude Oil

Euro stocks open flat, dollar drifts as markets prepare for Jackson Hole

Investors braced themselves for three days worth of potentially market-moving information from the Federal Reserve annual symposium in Jackson Hole. The event begins later that day and will feature central bankers from all over the world. Traders are focusing on the Fed Chair Jerome Powell’s Friday speech to assess the likelihood of a rate cut in September. At the opening, both the pan-European STOXX 600 and Germany's DAX indexes were little changed. The FTSE 100 in Britain rose by 0.1% while the CAC 40 in France fell by 0.1%. Michael Brown, Senior Research Strategist at Pepperstone, said: "I am still...

Crude Oil

As markets prepare for Jackson Hole, the dollar drifts and Asian stocks are mixed.

Investors were preparing for three days worth of market-moving information from the Federal Reserve annual symposium at Jackson Hole. The event will begin later that day. The main focus of the traders is on Fed Chairman Jerome Powell’s Friday speech as they try to gauge whether a rate cut in September could be imminent. The underlying momentum of equities remained strong, with Australia's benchmark index rising 0.9% and hitting a new record. Other indexes have lost some ground, but are still not too far off their recent highs. The Nikkei index, which reached an all-time high on Tuesday in Japan,...

Crude Oil

Wall Street tech selloff deepens, European shares steady

Wall Street shares fell on Wednesday as a tech sell-off continued into the second day. Currency and rates traders remained focused on a meeting of central banks later this week. The S&P 500 finished down 0.2%, while the Nasdaq Composite, which is dominated by technology companies and has a high tech component to it fell 0.7%. This was a significant decline after Tuesday's steep drop. Both indexes have partially recovered from earlier, deeper losses. The Dow Jones Industrial Average rose 0.04%. Analysts attributed the decline in tech stocks to a number of factors, including fears over high valuations, investors selling...

Crude Oil

Asia shares fall, but dollar steadys before Jackson Hole

The dollar gained ground on Wednesday ahead of an important meeting of central banks later this week. Oil prices rose after a fall in the previous session. Traders bet on the possibility that talks about a possible deal to end the conflict in Ukraine would ease sanctions against Russian crude oil and boost global supply. Stock futures in Europe, the U.S. and Europe all fell by 0.47%. The EuroStoxx 50 futures fell 0.55%. DAX futures also declined by 0.5%. FTSE Futures slid 0.14%. S&P futures fell 0.2%, while Nasdaq lost 0.34%. This is a continuation of the overnight fall. The...

Crude Oil

Jackson Hole: US and European shares are little changed in advance of Ukraine talks

Wall Street and European stocks were flat or marginally lower Monday, ahead of an eventful week in U.S. rate policy. Meanwhile, attention was focused on Washington where Volodymyr Zelenskiy from Ukraine and European leaders would meet Donald Trump. S&P 500 was slightly down in midday trading but remained within striking range of its Friday all-time high. The MSCI All Country World Index was 0.1% lower but still not far off its record high reached on Friday. In the Asian session earlier, indexes from Japan, Taiwan, and China reached record highs, with a Chinese stock gauge reaching its highest level for...

Crude Oil

Jackson Hole: Global stock markets fall as traders wait for Ukraine talks

The U.S. shares and European stocks started the week cautiously, ahead of an eventful week in U.S. rate policy. Attention turned to Washington, where Volodymyr Zelenskiy from Ukraine and European leaders would meet Donald Trump. S&P 500 remained near its Friday high in the early trading on Monday. The MSCI All Country World Index was also down 0.15% and within touching distance of Friday's record high. In the Asian session earlier, indexes in Japan, Taiwan, and China reached record highs, while an indicator of Chinese stocks hit its highest level for a decade. After Trump's Friday summit with Russian president...

Environment

Environment

Iron ore prices fall as supply increases and offsets strong near-term demand

The price of iron ore fell on Wednesday, for the second session in a row. This was due to a rising supply that outweighed brisk short-term demand. The daytime trading price of the most traded January iron ore contract at China's Dalian Commodity Exchange was 0.64% less than its previous closing price, which was 777.5 Yuan ($108.70). As of 0714 GMT, the benchmark September iron ore price on the Singapore Exchange remained flat at $102,35 per ton. The daily hot metal production hovered around 2.4 millions tons due to healthy steel margins. This boosted demand for raw materials including iron...

Environment

China's July coal imports drop 23% due to abundant domestic supply

Data from the General Administration of Customs showed that China's coal imports in July fell by 23% compared to a year ago, due to a limited demand for imports. The imports of coal in July were 35.61 millions metric tons. Although down on the previous year, this was a rebound from June's two-year-low as the hotter weather prompted higher air conditioning demands, which supported electricity consumption. The market will be watching to see if China takes concrete steps in the future to reduce production and curb oversupply at home. The National Energy Administration issued a document on July 20 calling...

Environment

In Dien Bien, Vietnam, flooding leaves 14 dead and missing.

State media reported that heavy rains caused flooding in the province of Dien Bien located in northern Vietnam. At least 14 people were killed or are missing. After hours of heavy rainfall, floodwaters rose quickly Thursday night, flooding low-lying houses and causing mudslides and flash floods in mountainous areas of the province. According to the report, the mountain village of Xa Dung was the most affected, with six people missing and one person dead. According to a provincial People's Committee statement, flooding has cut off power and traffic lines in several areas of the province. According to a statement, rescuers...

Mining

Mineral Resources

Mineral Resources

South32 is not concerned about Indonesian alumina replicating the nickel success.

South32, a diversified Australian miner, is closely monitoring the alumina developments occurring in Indonesia. The CEO Graham Kerr stated on Thursday that South32 will be watching to see if they drag down the prices of tin in the global markets in the same manner as its nickel industry. In recent years, Indonesia has increased its production of nickel to make it the world's largest supplier. This is a result of Indonesian efforts to increase domestic processing. Since then, the Indonesian government has sought to replicate this success on other markets. Last year, Indonesia became a net exporter for alumina. Alumina...

Mineral Resources

Freeport Indonesia will complete repairs at Gresik by early September

A spokesperson for PT Freeport Indonesia said that the company expects its East Java joint venture smelter to be repaired by early September. The company reported that repairs at an oxygen facility delayed the startup of Gresik, a joint-venture between Freeport Indonesia, Japan's Mitsubishi Materials Corp and Freeport Indonesia. This smelter has been under maintenance for the last month. Katri Krisnati said that the repairs to the oxygen plant of PT Smelting will be completed in September 2025. She did not elaborate. The annual production capacity is 342,000 metric tonnes of copper cathode. This plant takes approximately 40% of Freeport’s...

Mineral Resources

Iron ore prices rangebound due to rising supply and firm demand

The iron ore price ranged on Wednesday, as a growing supply of the steelmaking component offset a solid demand in the near term. As of 0237 GMT, the most traded January iron ore contract at China's Dalian Commodity Exchange dropped 0.38% to 775 yuan ($108.70). As of 0227 GMT, the benchmark September iron ore traded on Singapore Exchange was up 0.26% at $102.6 per ton. The daily hot metal production hovered around 2.4 millions tons due to healthy steel margins. This resulted in a steady demand for raw materials including iron ore and prevented a price drop. Analysts say that...

Mineral Resources

Danantara and China’s GEM will develop nickel processing hubs in Indonesia

An official announced on Tuesday that the Indonesian sovereign fund Danantara would invest in developing a nickel-processing hub with Chinese battery recycler GEM. The funds, which total $8.3 billion, will be available for investment by 2025. Danantara will be making its first venture into Indonesia's nickel sector, which is crucial to the country. The government wants to capitalize on the vast amount of nickel in the country that's used for electric vehicle batteries. Indonesia is the largest nickel producer in the world. In an interview, Pandu Sjahrir, the investment chief of the fund said that they had just signed a...

Mineral Resources

James Hardie, a fiber cement manufacturer, sees profits below expectations due to weak US demand

James Hardie, a fiber cement manufacturer, forecast underlying earnings for the full year below expectations on Wednesday as rising borrowing costs and tariffs in the U.S. dampened housing market activity and demand. James Hardie predicted adjusted operating earnings of between $1.05 and $1.15 for fiscal year 2026. This is below Visible Alpha's consensus estimate of $1.23. It earned $1.1billion in fiscal 2025. In a press release, CEO Aaron Erter stated that "over the course of the summer the single-family construction activity was weaker than expected and we have adjusted expectations to account for the softer demand." Homeowners defer large-ticket remodeling...

Mineral Resources

Japan steel groups are seeking reforms to prevent tariff evasion, as China exports soar.

Japanese steel lobby groups have demanded early measures to stop the evasion and avoidance of anti-dumping duties aimed at protecting the domestic industry from unfair imports. This move coincides with record steel exports by China, the largest producer in the world, which have sparked protectionist reactions around the globe. Since January of last year, almost 40 countries have launched anti-dumping investigations. The Japan Iron and Steel Federation and other four industry groups have said that swift action is required as countries like China try to avoid antidumping tariffs by routing their exports through a third country or performing minimal processing...

Mineral Resources

Bangladesh Brick Industry tries to Clean Up Its Act

Bangladesh closes clay brick kilns for environmental protection Concrete blocks, for example, are in high demand. Cost of upgrading to advanced kilns or blocks Tahmid Zami Tahmid Zami Industry insiders claim that the government is closing polluting kilns to clean up the air and achieve environmental goals. However, adoption of cleaner alternatives has been lagging behind. Other Asian countries, such as China and Vietnam, are increasingly adopting cleaner alternatives, including automated, energy-efficient brickmaking technology or production of concrete blocks. According to official statistics, the government's environment agency has closed more than 600 kilns. Approximately 3,500 of Bangladesh's 8,080 kilns will...

Fossil Fuels

Australia provides $87.4 Million bailout to Trafigura Lead, Zinc Smelters

The Australian government announced on Tuesday that it would provide A$135 (US$87.4M) in financial assistance to two smelters in Australia's southern region owned by Nyrstar. Nyrstar is a subsidiary of commodity trader Trafigura. Trafigura placed its Port Pirie lead-smelting operations, in South Australia, and its zinc processing operation in Hobart in Tasmania under strategic review in early this year after high energy costs and lower processing fees rendered the businesses unprofitable. Nyrstar, as part of its review, assessed the potential of producing antimony, a critical mineral, at its Port Pirie facility, but it would require government assistance to do so....

Mineral Resources

Trump's Trade War: Major Developments

The tariffs imposed by Donald Trump since his inauguration on January 20, 2017 have sent shockwaves through financial markets, and uncertainty has spread throughout the global economy. This timeline shows the major events: Trump imposes tariffs of 25% on Mexican imports, 10% on Chinese goods and most Canadian imports. He demands that they reduce the flow of illegal immigrants and fentanyl into the U.S. Trump accepts a 30-day suspension of his threat to raise tariffs on Mexico and Canada, in exchange for concessions made on border security and criminal enforcement. The U.S. doesn't reach a similar deal with China. Trump...

Mineral Resources

Eramet revises volume targets for 2025 after a H1 earnings decline

The French mining group Eramet announced a sharp drop in its first-half earnings on Wednesday. It warned that macroeconomic conditions would remain difficult throughout the rest of this year. This led to a revision downwards of Eramet's production targets for 2025. Eramet reported adjusted earnings prior to interest, taxes and depreciation (EBITDA), of 191 millions euros ($219.12million) for the first half of this year, a drop of 45% compared to a year ago. Earnings exclude Eramet’s New Caledonian Nickel subsidiary SLN which is supported by French government loans. Eramet's Chief Executive Paulo Castellari said to reporters that "our first-half results...

Mineral Resources

US and China to start new talks on tariff truce, easing the path for Trump-Xi Meeting

The top U.S. economic officials and Chinese representatives will resume their talks on Monday in Stockholm to address long-standing economic disputes that are at the heart of a trade conflict between the two largest economies. They hope to extend the truce for three months while preventing tariff increases. China faces an August 12 deadline for a lasting tariff agreement with the Trump administration. Beijing and Washington had reached preliminary agreements in May and early June to end weeks' worth of escalating tariffs, and to stop the cutoff of rare-earth minerals. If there is no agreement, the global supply chain could...

Mineral Resources

US and China to start new talks on tariff truce, easing the path for Trump-Xi Meeting

The top U.S. economic officials and Chinese economic officials are scheduled to resume their talks on Monday in Stockholm to address long-standing economic disputes that have been at the heart of the trade war between two of the world's largest economies. They hope to extend the truce for three months while preventing tariffs from rising sharply. China faces a deadline of August 12 to reach a lasting tariff agreement with the administration of President Donald Trump. Beijing and Washington had reached preliminary agreements in May and early June to put an end to weeks of escalating tariffs, including a ban...