SHANGHAI, Sept. 30 (SMM) – Glencore said in a statement that it is still able to pay debt and has sufficient liquidity. The company’s shares rose 20% yesterday, helping ease market concerns and improve commodity market.
China’s power consumption in the first eight months of the year was 3.68 trillion KWH, up 1.0% YoY. Power consumption in the tertiary industry was 475.6 billion, up 7.5% YoY, with the growth up 1.7 percentage points. Power consumption in urban and rural area was 489 billion KWH, up 4.3% YoY. Power consumption in the manufacturing was still low, exacerbating market concerns over China’s demand. The NDRC approved urban rail construction worth RMB 464.77 billion recently.
Eurozone economic climate index was 105.6 in September, better than market expectations and August. September CCI fell 7.1, falling short of August, meaning sluggish household spending. Germany’s September CPI dropped 0.2%.
S&P/CS home price index in 20 US cities was 0.6% in July, falling short of June’s. Conference Board’s CCI in September was 103. It is uncertain whether the Fed will raise interest rate later this year, pushing down the US dollar slightly.
The US dollar dropped 0.05%; the euro against the US dollar rose 0.04%. US stocks were mixed. European stocks fell. Aside from tin, LME base metals prices all climbed.