SMM Morning Commentary: Zinc Market Reacts to Mixed Global Economic News

게시됨: Oct 31, 2024 08:52
**[SMM Morning Commentary on Zinc]** Overnight, the U.S. GDP for the third quarter fell short of expectations, while the October ADP Employment Report (a.k.a. "small non-farm payrolls") significantly surpassed forecasts. Various sources indicated that a ceasefire between Israel and Lebanon is imminent. The Kremlin denied reports about "preliminary negotiations between Ukraine and Russia on halting attacks on each other's energy facilities." Sources said OPEC+ may continue to postpone its production increase plan. Germany's third-quarter GDP exceeded expectations, prompting traders to scale back expectations of a 50 basis point rate cut by the European Central Bank in December. The Ministry of Commerce stated that China firmly opposes the U.S. final rules on investment restrictions against China. Six government departments emphasized accelerating the construction of large-scale wind and photovoltaic bases, with a focus on desert, gobi, and arid regions. Some centrally-administered state-owned enterprises have revised their energy storage bidding rules, reducing the weight of price, affecting the wind, solar, and energy storage industries. BYD surpassed Tesla in quarterly revenue for the first time...

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