The Short Position Decreased and INE Bonded Copper Contract Rose

The British pound dropped to a two-year low on Monday as traders moved to the sidelines as a leadership contest kicked off to determine Britain’s next prime minister.

Following Indonesia's ban on nickel ore exports in 2019, the Indonesian government has mentioned several times to restrict the export of nickel products this year, stating that it will impose a progressive tax on nickel exports.

Sterling slumped on Friday against the dollar and was set for its worst week against the greenback in a year as renewed fears of a global recession coupled with UK weak economic data knocked the British currency.

SHANGHAI, Apr 28 (SMM) - The China Securities pointed out that the performance of gold was mediocre in 2021 and far underperformed commodities.

The dollar hit a two-year high on Tuesday as concerns about slowing growth in China and expectations that the Federal Reserve will aggressively hike rates boosted demand for the greenback.

SHANGHAI, Apr 22 - On April 22, Yi Gang, Governor of the People's Bank of China, attended the sub-forum on "Global Inflation, Interest Rate Hike Tide and Economic Stability" at the Boao Forum for Asia Annual Conference 2022 and delivered a keynote speech.

The dollar rose on Tuesday to a fresh 20-year high against the Japanese yen and tested a two-year peak against the euro, supported by high U.S. Treasury yields.

Luo Junjie, the spokesman of the Ministry of Industry and Information Technology (MIIT), said at the press conference of the State Council Office on April 19 that MIIT planned to moderately speed up the development of resources in China, and would work with relevant departments to resolutely crack down on unfair competition such as hoarding and driving up prices, pushing the prices of raw materials for new energy vehicles back to normal as soon as possible.

Weekly Metal Macro Report