⚡China's most-traded coking coal, coke, iron ore futures extend declines at night opening. Coking coal down 4.3%, coke down 3.8%, iron ore down 3.7%. #coal#ironore#CoalTwitter#China
⚡Shanghai non-ferrous #metals fall at market open, #tin down 2.3%, #copper down 1%.
⚡Shanghai low sulfur fuel oil futures dop 1.7%, fuel futures down 1.6%, crude oil futures down 1.4%. #OOTT
Benchmark Dalian coking coal futures extend losses to 5.4%, coke down more than 5.2%, iron ore down 3.4%. Shanghai hot rolled coils futures fall 1.5%, steel rebar down 1.3%. #coal#ironore#CoalTwitter#China
⚡Dalian coking #coal futures plummet over 6% at 2,270 yuan/ton, coke down more than 5%. #China
⚡Dalian coking #coal futures close down 6.3% in night session, coke down 4.1%, #ironore down 3.2%. #China
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China #Evergrande: The independent investigation into the pledge guarantee of Evergrande Property Services is being actively carried out. The expected timing for the completion of the independent investigation has not yet been determined at this stage. www1.hkexnews.hk/listedco/listc…
China #Evergrande: Due to the impact of the epidemic and the independent investigation of the pledge guarantee of Evergrande Property Services, the timing for the release of the 2021 annual results is yet to be confirmed.
⚡CHINA #EVERGRANDE SAYS ACTIVELY PUSHING FORWARD WITH ITS RESTRUCTURING WORK AND EXPECTS TO ANNOUNCE ITS PRELIMINARY RESTRUCTURING PLAN BEFORE THE END OF JULY.
⚡#China central bank PBoC says to support cross-border RMB settlement in new forms of foreign trade.
⚡#China central bank PBoC says notice on supporting cross-border RMB settlement will come into force on July 21, 2022. pbc.gov.cn/tiaofasi/14494…
⚡PBoC asks domestic banks and payment institutions to fulfill obligations of anti-money laundering, anti-terrorist financing, and anti-tax evasion, and abide by relevant regulations on cracking down on cross-border gambling when providing cross-border RMB settlement services.
🚨Iron ore and coke are plummeting 9% in China, and coking coal is down 6.45%, HRC and steel rebar futures are dropping more than 5%.
Crude oil is down 4.23% in Shanghai. #China#futures#Ironore
#Ironore futures slumped as much as 5% in Singapore to hit $114 a ton, the lowest in six months.
Iron ore in Dalian drops to 760 yuan per ton, the lowest in a month.
#Glass futures rise 2% in Zhengzhou, and many glass manufacturers have raised their prices this weekend amid surging costs. #China#futures
WORLD BANK CUTS 2022 GLOBAL GROWTH FORECAST TO 2.9% VS APRIL'S 3.2%, SAYS DANGER OF STAGFLATION IS CONSIDERABLE TODAY.
WORLD BANK: UKRAINE WAR WILL REDUCE PER CAPITA INCOME IN DEVELOPING ECONOMIES BY 5% FROM PRE-COVID TREND. RISK OF STAGFLATION, UKRAINE WAR AND CHINA LOCKDOWNS HAMMERING GROWTH, RECESSION WILL BE HARD TO AVOID FOR MANY COUNTRIES.
WORLD BANK: GROWTH IN ADVANCED ECONOMIES TO DECELERATE TO 2.6% IN 2022 VS JANUARY FORECAST OF 3.8%. GROWTH IN EMERGING MARKET, DEVELOPING ECONOMIES TO SLOW TO 3.4% IN 2022 FROM 6.6% IN 2021, WELL BELOW ANNUAL AVERAGE OF 4.8% FROM 2011-2019.