Chinese prices of steel and steelmaking ingredients slipped on Thursday after the cabinet announced tighter measures on the industrial commodities. Prices of iron ore, coking coal, rebar, and hot-rolled coil all fell by over 5%, as metal traders were worried by China's crackdown on the industry.The cabinet a day earlier said it will boost its efforts on managing the … [Read more...] about China Reports Decline In Industrial Commodity Prices After Government Clampdown Announcement
Forex News
U.S. Jobless Claims Fall To 14-Month Low
Unemployment insurance claims fell further for the seven days ending on May 15 to mark the lowest since the COVID-19 pandemic hit, the Labor Department reported. Seasonally adjusted initial claims declined by 34,000 to 444,000, the lowest since March 14, 2020's 256,000.The previous week's level was revised upward by 5,000 to 473,000 from the 478,000 earlier reported.The … [Read more...] about U.S. Jobless Claims Fall To 14-Month Low
Lumber Futures Hit Limit Down As Decline Continues
Lumber futures for delivery in July hit a limit down following the recent pullback in prices, CNBC reported. Data from the Chicago Mercantile Exchange showed that futures fell 5% to $1,201 per thousand board on Wednesday morning.Futures rallied 5% later in the afternoon after hitting the limit down price change of $63 or the cap or percentage changes allowed by the … [Read more...] about Lumber Futures Hit Limit Down As Decline Continues
Iran To Ship First Oil Consignment From New Jask Terminal In Next Four Weeks
Iran is set to export its first oil consignment from the new Jask terminal in the next four weeks, S&P Global reported. Oil minister Bijan Zanganeh said the shipment will be delivered in the Iranian month of Khordad which starts May 22 and ends June 21.The shipment will come from the Jask terminal on the Oman Sea Coast, after the completion of the Goureh-Jask oil … [Read more...] about Iran To Ship First Oil Consignment From New Jask Terminal In Next Four Weeks
Pound Sterling Ignores Rising Consumer Prices to Trade Below 1.42
Summary: The GBP/USD currency pair on Wednesday afternoon pulled back to trade at 1.4165 after the UK CPI release. The currency pair is now pinned at 1.4165, just above the 100-hour moving average in the 60-min chart. The pair earlier bounced off the regressive trend at 1.4131 to trim session losses. The pound sterling on Wednesday edged lower against the … [Read more...] about Pound Sterling Ignores Rising Consumer Prices to Trade Below 1.42
