Manufacturing PMI In Euro Zone And Germany Both Pick Up In May, But Still In Contraction Territory

Social media may have worsened the regional banking crisis, according to TD policy analyst Jaret Seiberg.

Crude oil futures opened lower but moved higher today. WTI oil hit the lowest of $63.64 per barrel since December 2, 2021.

Sales of BMW Motorrad in the first quarter came in at €36.85 billion, with a market estimate of €35.47 billion.

Prices of #6517 SiMn alloy were 6,900-6,950 yuan/mt in north China market in cash, flat from the previous trading day.

Stainless steel futures prices hovered around 15,100 yuan/mt last week, once growing to over 15,300 yuan/mt.

Recently, domestic steel prices dropped rapidly, bringing about severe challenges to the operation of steel mills.

Given the significant decline in rebar prices and the rising raw material inventory, the maintenance of steel mills in north, south-west and north-west China extended in light of the losses.

At the beginning of last week, steel prices declined sharply, which trigged panic among the market players. In this scenario, leading steel mills of Northwest United Iron and Steel Co., Ltd.

Copper scrap supply tightness intensified last week due to sellers holding onto their cargoes amid plunging copper prices and pre-holiday stockpiling by some copper rod plants that planned to maintain production during Labour Day holidays.

The Russian-Ukrainian conflict has been ongoing for several weeks and the global commodities market has seen dramatic volatility as a result. This comes after the market erupted in concerns over the supply of Russian nickel metal, with LME nickel prices surging above $100,000 per tonne in a single day.