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Iron ore prices climb amid improved steel margins and stimulus in China
Iron ore futures experienced an increase on Monday, supported by steady near-term demand and a recent interest rate cut in China, the world’s largest consumer of iron ore. The most-traded January iron ore contract on the Dalian Commodity Exchange (DCE) rose by 1.45%, closing at 769.5 yuan ($108.18) per metric ton…
October 21, 2024 -
Switzerland signs on to Europe’s sky shield air defense initiative, navigating neutrality
Switzerland has officially joined the European Sky Shield Initiative (ESSI), becoming the 15th member of this defense project aimed at creating a unified air and missile defense system across Europe. The initiative, launched by Germany in response to Russia’s invasion of Ukraine, seeks to facilitate joint procurement, training…
October 21, 2024 -
China’s refinery output drops for sixth straight month amid weak fuel demand
China’s refinery output in September 2024 declined for the sixth straight month, falling 5.4% year-on-year to 58.73 million metric tons, or 14.29 million barrels per day (bpd), according to official data from the National Bureau of Statistics (NBS). Despite the start-up of a new refinery in Shandong and some refineries resuming…
October 21, 2024 -
China’s steel exports soar as overcapacity spurs near-decade high volumes
China’s steelmakers are poised to continue exporting at near-decade high volumes in 2025 to cope with overcapacity and weak domestic demand, a move that could exacerbate global trade tensions. With the property sector still sluggish, China is expected to export over 100 million metric tons of steel this year…
October 21, 2024 -
Hedge funds ramp up tech buying as earnings season kicks off
This week, global hedge funds aggressively bought U.S. information technology stocks, especially in semiconductors and hardware, marking the fastest purchasing activity in this sector in five months. This spike in activity coincided with the start of the third-quarter earnings season. The tech buying spree occurred…
October 21, 2024 -
China’s steel and oil refining output drops in September amid industry struggles
In September, China’s steel production and crude oil refining continued to decline, reflecting the ongoing challenges faced by two of the country’s key industrial sectors. Steel mills produced 77.07 million tons, marking the lowest monthly output in 2024, and leaving total production for the first nine months down 3.6%…
October 18, 2024 -
UK commits to joint European initiative for long-range missile development
Britain has announced its commitment to join a European missile development program aimed at addressing gaps in military capabilities, particularly long-range missiles, which were exposed by Russia’s invasion of Ukraine. Defence Secretary John Healey confirmed the UK’s participation alongside Germany…
October 18, 2024 -
US takes major step toward domestic HALEU production with new energy contracts
The U.S. Department of Energy announced initial contracts with four companies to produce high-assay low-enriched uranium fuel (HALEU), a more enriched form of uranium expected to power advanced nuclear reactors starting around 2030. Currently, Russia is the only nation producing HALEU at commercial levels…
October 18, 2024
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