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DeepNewz, mobile.
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US Treasury Secretary Yellen expresses concerns over China's impact on global commodity prices and production patterns. Reports suggest Chinese over-capacity is affecting the US market, potentially leading to job losses. Chinese economy showing signs of recovery with commodity futures opening higher, including gold reaching a historical high. Changes in Chinese SHFE warehouse stocks indicate fluctuations in metal inventories.
#China SHFE warehouse changes (weekly update): #Copper +5,138t (+1.80%) #Aluminum +17,083t (+8.55%) #Zinc +1,019t (+0.84%) #Lead -4,408t (-8.22%) #Nickel +120t (+0.58%) #Tin +958t (+7.97%) #Rubber -250t (-0.12%) https://t.co/FOJfKWFCY2
⚡Most commodity futures open up in #China on Friday. #Gold futures up 1.6% as $XAU refreshed historical high. INE crude oil rises 2% to 645 yuan per barrel. #OOTT #Aluminum +0.8%, #zinc +0.4%, #tin +0.35%, #nickel +0.33%, #copper +0.15%. #IronOre drops 0.9%, while #steel rebars… https://t.co/yZXvlpVVAx
#China #Deflation Could Trickle Down to #Commodities - If the Chinese economy can recover promptly this year, commodities might stabilize. My bias is with the typical process of probing for break-even cost lows following the high-price cure extremes from 2022 peaks. The chart… https://t.co/7GYyDfZggH