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NHK reports that TEPCO will delay the restart of Kashiwazaki - Kariwa nuclear power station.
NHK, the public broadcaster, reported Monday that Tokyo Electric Power has delayed its'restart of Kashiwazaki and Kariwa nuclear power plants, which was originally scheduled for 'January 20th. TEPCO would have had to restart its reactors for the first time since Fukushima Daiichi was struck by a powerful tsunami in 2011. The company planned to restart Unit No.6 in Kashiwazaki Kariwa on January 20th and Unit No. The company had planned to restart Unit No.6 at Kashiwazaki-Kariwa on Jan 20 and Unit?No. NHK, citing its sources, stated that the delay was caused by an alarm malfunction which occurred during equipment tests over the weekend. The new restart date is expected to be within the next few days. TEPCO's?spokesperson stated that the company is examining the impact?of the malfunction. The company plans to hold an official press conference on Monday. The total capacity of Kashiwazaki and Kariwa is?8.2 Gigawatts. TEPCO plans to restart commercial operations at?reactor No. On February 26, TEPCO plans to resume commercial operations of?reactor No. (Reporting and editing by Jacqueline Wong, Raju Gopalakrishnan and Jaori Kaneko)
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Shanghai Copper falls due to profit-taking and weak China demand
Shanghai copper fell for a third session in a row on Monday as profit-taking, and signs of sluggish demand in China, weighed?on the market. As of?0310 GMT, the most active copper contract at the Shanghai Futures Exchange had?dropped by 0.37%, to 101,490 Yuan ($14.574.15) per metric ton. After two sessions of decline, the benchmark three-month price for copper at the London Metal Exchange increased 1.16%, to $12,951 per ton. The traders reported that profit-taking on the Shanghai market was continuing, and that the weak demand for copper also affected prices. Yangshan Copper Premium The, which measures China's demand for imported materials, fell to $22 per ton on the Friday, showing weak demand despite a...record-setting rally of red metal. The copper stocks in the warehouses that SHFE monitors continued to increase,?up for a six-week consecutive week. This indicates a softer interest in spot purchases amid high prices. Copper inventories that are available for delivery According to SHFE's Weekly Stock Report, the stock in these warehouses increased by 18.3% on Friday to 213,515 tonnes, up from 89,389 tonnes on December 8, when it first began to increase. The red metal was still supported by mine disruptions, and fears that the supply of refined copper will be restricted due to a regional market dislocation in other countries because of tariff concerns. Stock levels at U.S. Comex warehouses On Friday, they reached 542,914 short tonnes (492523.3-metric-ton) and are close to the half-million-metric-ton level. Official data released on Monday showed that the growth of China's economy slowed down to a 3-year low during the fourth quarter. It was only 4.5% higher than a year ago. The economy grew 5.0% in 2025. This was above the 5% target set by Beijing, despite the trade tensions and weak domestic demand. Aluminium, zinc, lead, nickel, and tin all fell in value. Nickel, tin, and aluminium all rose in price on the LME. Lead and zinc also gained 0.32%. Monday, January 19, DATA/EVENTS 0430 Japan Tertiary Industrial Act NSA Nov 1000 EU HCIP MM Dec 1000 EU HCIP YY Dec
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China's crude steel production will fall to a seven-year low by 2025, despite record exports
China's crude output of steel in 2025 will be below 1 billion tons, a record low. A prolonged downturn on the property market has hurt demand. Steel exports have risen to new records. National Bureau of Statistics data released on Monday showed that the world's biggest steel producer produced 960.81 millions tons of metal in 2025. This was the lowest level of production since 2018. This was a 4.4% decline from 2024. The Chinese steel industry has been struggling to make a profit since the second half 2022 due to the "persistent slowdown in the property market". Analysts said that profitability improved in 2025 in part because producers switched to flat steel products such as hot-rolled coils, which were in greater demand. China's exports of steel, which reached a record high of?over 119 millions tons last year according to data released last week, are mostly flat steel. According to calculations based off official data, the share of steel reinforcing bars - used in the construction industry - has dropped from 23% to 13% in the first eleven months of 2025. China has yet to release a breakdown for the entire year. According to data from the consultancy Mysteel, 54% of steelmakers made a profit last year compared with 36% by 2024. Analysts predict that crude steel production will continue to fall in 2026 but at a slower rate. Ge Xin is the deputy director at Lange Steel. He forecasts a roughly 3% drop in crude steel production for 2026. Beijing said in late December it would continue to control crude steel production and prevent the addition of illegal capacity from 2026 to 2030. It did not provide any further details. Beijing stopped the growth of crude steel production in 2021, as part its efforts to reduce carbon emissions. In December, steel mills carried out annual maintenance on equipment during a time of generally low demand. This was the seventh consecutive month that output declined. The December production fell by 10.3% compared to the same month of 2024.
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Oil prices stable as Iranian protests diminish, lowering the chance of US attack
The oil prices were unchanged on Monday after rising the previous session. Iran's crackdown on protests has quelled the civil unrest, and reduced the chances of an attack by the U.S. on the Middle Eastern major producer, which could disrupt the?supplies. Brent crude was trading at $64.18 per barrel as of 0158 GMT. This is a 5 cents, or 0.08% increase. U.S. West Texas Intermediate rose 8 cents or 0.13% to $59.52 per barrel in February. The contract expires Tuesday, and the March contract, which is more active, was $59.36 up 2 cents or 0.13%. The unrest was quelled by Iran's violent crackdown on protests sparked by economic hardship. Officials claim that 5,000 people were killed in the crackdown. U.S. president Donald?Trump appeared to back down from his earlier intervention threats, claiming on social media that Iran had halted mass hangings. However, the country has not announced such plans. This appeared to reduce the chances of a U.S.-led intervention, which could have disrupted the oil flow from the fourth largest producer in the Organization of Petroleum Exporting Countries. Prices settled higher Friday, despite the downturn. The U.S. military is still moving into the Gulf to underscore the continuing concern. The pullback was a result of a rapid unwinding of the?Iran premium? that drove prices to 12-week highs. This was triggered by signs that Iran is easing its?crackdown against protesters. The EIA reported last week that crude stocks had increased by 3.4m barrels during the week ending January 9. This was compared to analysts' expectations, which were based on a poll of 1.7m barrels. After Trump's statement that the U.S. will?run Venezuela’s oil industry after the capture of Nicolas Maduro, markets continued to closely monitor?plans regarding Venezuela’s oil fields. The U.S. Energy Secretary told Friday that they are moving as quickly as possible to give Chevron a license for expanded production in the U.S. Markets were less optimistic about the prospects of increasing Venezuelan production. Sycamore stated that it was becoming increasingly clear that Venezuela’s production ramp-up would take years to complete. (Reporting and editing by Colleen Waye)
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Syrah Resources, based in Australia, buys time to complete the Tesla graphite deal
Syrah, an Australian company that supplies graphite to Tesla, announced on Monday that it had agreed to extend a deadline for a third time to resolve a dispute over a supposed breach of the agreement. The 2021 agreement, which will supply?8,000 metric tons of graphite per year for four years, is crucial to Syrah Vidalia's Louisiana operations as well as the company's plan to become the United States' first non-Chinese major supplier of this metal. Tesla, headquartered in Texas, issued the first default notice to Syrah in July 2025. The company claimed that Syrah failed to deliver active anode samples conforming with its Vidalia facility for use in electric-vehicle battery. The U.S. Department of Energy must approve the extension of the deadline. The original deadline of September 16 was extended to November 15, then pushed back to January 16. The Australian miner stated that "While Syrah doesn't accept it is in breach of the offtake contract, the parties have extended to March 16, 2026 the cure date and are working closely together?to cure this alleged default". Vidalia is the only large-scale, vertically integrated anode material manufacturer outside of China. It offers an alternative to the Chinese suppliers that dominate the market. Tesla, headed by Elon Musk, the richest man in the world, retains the right to cancel the deal if the active anode supplied by Syrah fails to meet the technical specifications before February 9. The graphite producer's shares fell 6.6% in the early trading on Monday to A$0.285, their lowest level since the 22nd of December. Meanwhile, the mining sub-index rose 0.6%. (Reporting by Shruti Agarwal in Bengaluru; Editing by Subhranshu Sahu)
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Dollar drops on US tariffs, Wall Street futures fall
U.S. Stock Futures fell on Monday, after President Donald Trump said he would impose?extra tariffs? on eight European countries until the U.S. was allowed to purchase Greenland. This pushed the dollar lower against the yen (a safe haven currency) and the Swiss franc. The holiday on the U.S. bond and equity markets led to thin trading, which?likely? contributed to a drop of 0.9% in S&P futures and 1.1% in Nasdaq. Nikkei Futures also pointed to a weak start for Asian stocks. Trump announced that he will impose an additional 10% on imports of goods from Denmark and Norway. He also said that he will impose a 25% surcharge on June 1, if a deal cannot be reached. France suggested a series of?untested economic countermeasures to respond. Early August, the EU suspended its tariffs on imports worth 93 billion Euros from the United States for six months. It also took measures under an Anti-Coercion instrument that could affect U.S. investments or services. Analysts at Deutsche Bank pointed out that European countries own $8 trillion in U.S. bonds, and almost twice as many as the rest the world. They may consider bringing back some of this money. George Saravelos is the global head of FX Research at Deutsche. He said: "With the U.S. Net International Investment Position at record-negative extremes, there has never been a greater mutual?interdependence between European and U.S. Financial Markets." "The most disruptive force on the markets would be a weaponization?of capital?rather than trade flow." There will also be a few tense days in Davos, as world leaders gather for the World Economic Forum. This includes a large U.S. delegation led by Trump. DOLLAR, NO SAFE HABITAT On Monday, China is expected to announce that its economy grew by 4.4% over the past year, down from 4.8% in the previous quarter. This is due to a slowdown in manufacturing and exports, which is being offset by a weakening of domestic demand. Bank of Japan will meet on Friday. While no rate hikes are expected, policymakers may tighten up the monetary conditions as early as April. The Japanese prime minister Sanae Takaichi, who is expected to dissolve the parliament in order to hold elections in February, has added a new wrinkle to domestic politics. Investors will be able to refine their expectations when it comes to the Federal Reserve's next rate cut by comparing delayed data for November on core U.S. inflation and consumption. Markets have largely given up on a easing of interest rates before June due to a string of positive economic news. April is priced at 65%, indicating no change. The earnings season continues, as a diverse group of companies joins the banks, such as Netflix,?Johnson & Johnson', General Electric, and Intel. The euro has recovered from a dip in the currency market to remain at $1.1605, and sterling clawed back to $1.3381. The dollar dropped 0.4% against the Swiss Franc, to 0.7985 Swiss francs. And the yen fell 0.3% to 157.71 yen. The 10-year?futures rose 3 ticks as investors sought safety. Gold also gained 1.7%, to $4,671 per ounce. The oil prices fell on concerns about global demand if a trade war between the U.S.A. and Europe were to break out. As a U.S. Navy carrier group is expected to arrive this week in the Persian Gulf, there are still concerns about an American strike against Iran. Brent crude oil fell by 0.3%, to $63.95 per barrel. U.S. crude dropped 0.5% to $59,16. (Reporting and Editing by Shri Navaratnam.)
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Six dead and 65 missing after massive Karachi fire
On Sunday, firefighter in Karachi looked for over 65 people who were missing after a massive blaze tore through a shopping center in the historic downtown area. The blaze killed six people and reduced parts of the building to rubble. Video footage showed the flames rising out of the building as firefighters battled through the night in order to prevent the fire, which began on Saturday, from spreading into the business district. Firefighters began cooling the smoky rubble after fighting the fire for more than 24 hours. The fire department told Pakistani local TV station Geo News the lack of ventilation caused the mall to fill up with smoke, slowing rescue efforts. According to Dawn News, Sindh Police Chief Javed Alam Odho said to reporters on the scene that it appeared to be caused by a faulty circuit breaker. The fire still simmers because of the layout, construction, and the products in the market, such as the carpets, blankets, and other items made from resins. Karachi Mayor Murtaza Wahab said to reporters at the scene that 65 persons were still missing. Six people were killed, and twenty others injured according to rescue officials. Media reports claim that people shouted slogans criticising Mayor who arrived at the site 23 hours after the protest began. Around the building were hundreds of people, including distraught business owners whose stores had been reduced to ashes. Yasmeen Bao, the shop owner, said: "We have been left high-and-dry,?reduced to 0; 20 years of hardwork, all gone." Fire broke out on Saturday night. Rescue services received a call from a customer at 10:38 pm (1738 GMT), reporting that the ground floor shops of the multi-storey Gul Plaza Shopping Centre were on fire. Hassanul Haseeb Khan, spokesperson for Rescue?1122, said that when they arrived the fire had already spread to the upper levels and the building was almost completely engulfed by flames. Images of the interior of the mall revealed the charred remains and bright orange glow of stores as flames continued rising throughout the building. On Sunday evening, the blackened metal frame and broken air conditioners of the building were strewn along the street. Rescue workers reported that some parts of the building were already collapsing and that it could collapse completely. Reporting by Mohammed Waseem, Ariba Sharif; Writing by Saad Saeed; Editing and proofreading by Tom Hogue, Diane Craft
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Sources: 27 killed in clashes between Colombian guerrilla groups
Military authorities in Colombia reported that at least 27 members of a leftist group were killed in clashes in which they fought a rival faction for control of an area of jungle in southwest Colombia. A military source said that the clashes in El Retorno's rural area, located in the Guaviare department, about 300 km (186 miles), southwest of Bogota. This region is strategically important for the production and trafficking of cocaine. A second source confirmed that the clashes were between a faction of Revolutionary Armed Forces of Colombia led by Nestor Gregorio Vera (also known as Ivan Mordisco) and another led Alexander Diaz Mendoza alias Calarca Cordoba. The two groups were once part of the Central General Staff, but they separated in April 2024 because of internal disagreements. According to two anonymous military sources, the casualties all came from Vera's team. According to two military sources who spoke on condition of anonymity, the deaths were all from Vera's group. Vera's group is still fighting after the government suspended a ceasefire. Both factions rejected the 2016 peace accord that allowed 13,000 FARC members to disarm and rejoin society. The conflict in Colombia, which has lasted for?over 60 years and is primarily funded by illegal mining and drug trafficking, has led to over 450,000 deaths, and millions of people have been displaced. Petro's efforts at peace are currently stuck. (Reporting and editing by Matthew Lewis, Nia Williams and Luis Jaime Acosta)
Dollar drops on trade war risks as stocks in Asia plummet
U.S. Stock Futures fell on Monday, after President Donald Trump threatened to slap additional tariffs on 8 European nations until Greenland was allowed by the U.S. The?dollar dropped against the safe haven currencies of the Swiss franc and yen.
Concerns about the impact of a full-blown trade war between Europe and the U.S. on global growth and demand led to a gold and silver price jump.
The holiday on the U.S. equity markets and bond market led to thin trading, which likely contributed to a drop of 0.7% in S&P futures and 1.0% in Nasdaq.
EUROSTOXX Futures and DAX Futures both dropped 1.1% on European markets. Japan's Nikkei fell 1.0% and MSCI's broadest Asia-Pacific share index outside Japan dropped 0.1%.
Trump has said that if a deal cannot be reached, he will impose an additional 10% on imports of goods from Denmark and Norway. He also plans to increase the amount by 25% if a deal is not reached.
France suggested a series of economic countermeasures that had never been tested before to respond to the Greenland?tariff threat.
Early August, the EU suspended its tariffs on imports worth 93 billion euro ($108 billion). It also took measures under a new Anti-Coercion instrument that could affect U.S. investments or services.
Analysts at Deutsche Bank pointed out that European countries own $8 trillion in U.S. bonds and equities - almost twice the amount of the rest of world. They may consider bringing back some of this money.
George Saravelos is the global head of FX Research at Deutsche. He said: "With U.S. net international investment positions at extreme negative extremes,?the mutual dependence of European and U.S. financial market has never been greater."
It is the weaponization of capital, rather than trade flows, that would be by far the most disruptive for markets.
There will also be a few tense days in Davos, as world leaders gather for the World Economic Forum. This includes a large U.S. delegation led by Trump.
DOLLAR NO SAFE HAVEN China will report on Monday that its economy grew by 4.4% year-on-year in the quarter ending December, down from 4.8% in the previous quarter.
Bank of Japan will meet on Friday. While no rate hikes are expected, policymakers may signal a tightening of monetary policy as early as April.
The domestic political situation is also likely to be complicated by the fact that Prime Minister Takaichi, who is Japanese, is expected to dissolve parliament soon to allow an election to take place in February.
Investors will be able to refine their expectations when it comes to the Federal Reserve's next rate cut based on delayed data for core U.S. inflation and consumption.
Markets have largely given up on a easing of interest rates before June due to a string of positive economic news. April is currently priced at 65%, indicating no change.
The earnings season continues, as more companies join the banks, such as?Netflix', Johnson & Johnson', General Electric, and Intel.
The euro rose 0.1% on the currency markets to $1.1613 while sterling clawed back to $1.3387.
The dollar dropped 0.2% against the Swiss Franc to 0.7995 francs and 0.3% against the yen, which fell 0.3% to 157.70 yen.
The 10-year futures market firmed up 3 ticks as investors sought safety.
Gold also gained 1.5%, to $4,664 per ounce.
Prices of oil have eased. Oil prices eased.
Brent crude oil fell by 0.5%, to $63.84 per barrel. U.S. crude dropped 0.4%, to $59.18 a barrel. ($1 = 0.8611 euro) (Reporting and editing by Shri Navaratnam, Muralikumar Aantharaman).
(source: Reuters)