Aluminum prices broke out of their sideways trend last month with strong upside price action, fueled by China easing its zero-covid policies
broke out of their sideways trend last month with strong upside price action. Prices rallied during the first half of November, followed by a modest retracement before they continued upward. The End of zero-COVID Sees Prices Reverse
Markets appeared quick to price in the return of Chinese demand, though much of this is speculative. Historically, China consumes around half of all commodities. Unbridling its consumers and putting an end to the havoc-wreaking disruptions of lockdowns could cause demand to increase. To what extent and at what pace Chinese demand will return remains unknown, however.China remains plagued by both immediate and long-term issues.
Aside from aluminum, China’s reopening will also mean the return of its energy demand. This could trigger a forthcoming reversal for WTI crude oil prices, which have largely remained in descent since June. Up to this point, the energy crisis has centered on Europe and resulted in extensive cuts to European aluminum capacity. Unfortunately, China’s return could see the crisis spread globally. That said, the spread may not trigger the further loss of global capacity.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Mick Schumacher follows father's footsteps and swaps Ferrari for Mercedes reserve roleMercedes have signed Mick Schumacher as a reserve driver after he left Ferrari’s academy by mutual consent. Mick, the son of seven-time world champion Michael, had earlier parted ways with the Ital…
Consulte Mais informação »
Rishi Sunak will look powerless if he follows Boris Johnson’s 'Brextremist' path on immigrationThe PM's commitment to 'compassionate Conservatism' would be at risk of real rebellion if he goes for the nuclear option on human rights
Consulte Mais informação »
Man charged with Aberdeen rooftop garden sexual assaultIt follows an investigation into an incident above a shopping centre in Aberdeen at the weekend.
Consulte Mais informação »
China reportedly bans export of Loongson chips to RussiaChina reportedly bars export of homebrew Loongson chips to Russia – and everywhere else
Consulte Mais informação »
China cracks down on smartphone annoyancesBeijing cracks down on undeletable pre-installed bloatware and dodgy apps
Consulte Mais informação »
China-backed study presses Beijing to roll out Covid boosters to avoid 1mn deaths\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Consulte Mais informação »