FIS API Blog
The Chinese government abandoned its decades-long practice of setting an annual target for economic growth amid the storm of uncertainty unleashed by the coronavirus pandemic, and said it would continue to increase stimulus. Speaking at the National People’s Congress in Beijing on Friday morning, Premier Li Keqiang delivered an annual policy address that instead laid …
Continue reading “China Abandons Hard Growth Target, Shifts Stimulus Focus to Jobs”
China’s top leaders should reveal on Friday how much they’re planning to spend on stimulus to support the post-virus economy, when they belatedly announce their economic policy blueprint for the rest of 2020. The centerpiece event will be the work report delivered by Premier Li Keqiang, which typically contains the economic growth and spending targets, …
Continue reading “What to Watch as China Unveils Stimulus in Policy Meeting”
Zinc retreated from its highest close since February as pandemic-driven supply disruptions ease. Zinc’s backwardation on the London Metal Exchange narrowed Tuesday in a sign that supply is set to recover. Mines are gradually resuming production as virus restrictions ease and Chinese smelters are boosting runs. Investors will focus on China’s policy-setting National People’s Congress …
Continue reading “Zinc Falls From 3-Month High on Rising Supply”
Freight prices jumped on Monday with front month Capesize futures up over 10% on anticipation of a large stimulus package out of China later this week. This created a knock-on effect into the smaller vessels with the Panamax front month futures up over 5%. Oil futures performed well with a USD 3.00 move higher, as …
Continue reading “Commodities Bounce Back on Chinese Stimulus Anticipation and Vaccine Hopes”
Aluminum will average $1,600 a ton this year, according to Fitch Solutions, which cut its forecast from $1,850 as demand prospects weaken. Global consumption will decline 1.1% this year due to disruption from pandemic, especially closures of major car manufacturers, according to note Demand in China will fall 2% NOTE: LME aluminum last traded at $1,470/ton; YTD …
Continue reading “Fitch Solutions Cuts Aluminum Outlook Amid Risks for Metals”
China’s house-price growth accelerated in April as the central bank’s credit easing gave the property market a much-needed lift out of the coronavirus shutdown. * New-home prices in 70 major cities, excluding state-subsidized housing, gained 0.42% in April, National Bureau of Statistics data released Monday showed. That’s up from a 0.13% increase in March. * …
Continue reading “China Home-Price Growth Accelerates in Property Market Boost”
China’s industrial output increased in April for the first time since the coronavirus outbreak, adding to early signs of a recovery that economists cautioned would be slow and challenging. Industrial output rose 3.9% from a year earlier, reversing a drop of 1.1% in March, data showed Friday. Fixed-asset investment decreased 10.3% in the first four …
Continue reading “China’s Industrial Economy Improves While Consumers Remain Wary”
Indonesia’s parliament approved sweeping changes to the nation’s mining law, allowing the world’s top nickel and coal producer to hand out longer contracts to companies pledging to invest billions of dollars to develop the industry. The amendments, cleared by lawmakers on Tuesday, will help Indonesia create a supply chain of mineral resources for industries such …
Continue reading “Indonesia Revamps Law to Unlock Billions of Mineral Riches”
Aussie Pressured by Fed’s Push Back and China Beef Ban The Australian dollar briefly rose above its 100-day moving average again this week in what appears to be a false break after Federal Reserve officials pushed back on the notion of negative U.S. rates. The currency had been stuck below the rolling gauge since January …
Continue reading “Aussie Pressured by Fed’s Push Back and China Beef Ban”
