Steel price licks its wounds as recession fears escalate – by anilpanchal7 Metals RiskAppetite China Recession Energy
The metal’s recent rebound could be linked to the fears of more supply crunch as South Korea prepares for a very strong typhoon. Also likely to have triggered the rebound is the cautious optimism in the market after the previous day’s downbeat US jobs report.
Additionally favoring the metal price could be the recent slowdown in the Chinese production of the metal as Beijing pushes factories for emission targets. On the same line are covid-led lockdowns in the key steel-producing regions of China. Earlier in the day, China’s Caixin Services PMI dropped to 55.0 in August, versus 55.5 in prior readings. In doing so, the private activity gauge traced the major PMIs from the dragon nation that recently signaled pessimism for the world’s largest industrial player.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Skin of Steel raises funds for melanoma research, in hopes of finding a cure'If you're looking forward and looking for new cures - not just for melanoma, but all cancers - this work is crucial,' said Dr. Jeffrey Wayne of Northwestern Medicine.
Leer más »
Nigeria to pay $496 million to settle claims over steel plantsGlobal Steel had acquired rights to Nigeria's entire state steel industry via five major concessions and share purchase contracts.
Leer más »
Swiss steel mill readies for shorter hours as energy bills soar – paperStahl Gerlafingen wants to put staff on shorter working hours to contend with soaring energy bills.
Leer más »
J'ouvert street closures start Sunday night before West Indian Day Parade in Brooklyn on MondayThe pre-dawn celebration called J'ouvert that leads into the West Indian Day Parade is just hours away and many participants were busy Sunday night with last-minute preparations. ThaliaPerezTV reports.
Leer más »