SMM, Nov. 12: the dollar hit a 16-month high against the euro and other currencies on Thursday after the United States reported its highest rise in inflation in 30 years, sparking bets that the Fed will tighten monetary policy sooner than expected.
The outer plate metal rose generally, and the price of copper futures rebounded on Thursday, closing up 1.56%. China Evergrande's renewed avoidance of default has raised hopes of government support for the real estate sector, which is widely seen as likely to boost demand for metals. Aluminum in the outer pan rose the most, with an increase of 3.06%. November 11, the latest news, LME aluminum inventory continued to go to the warehouse, another reduction of 3250 tons. In addition to Lunchong aluminum, Lunxi and Lunqian both rose by more than 1% in the outer market.
Metals in the inner market were mixed. Shanghai zinc fell 0.8%, Shanghai tin fell slightly by 0.19%, and other metals rose generally. Shanghai Aluminum led the way with an increase of 0.72%. The black department showed a slight pullback at night, with the exception of stainless steel up 0.29%. The hot volume, which rose by the daily limit yesterday, also fell 0.81% in the night market.
U. S. stocks closed mixed on Thursday, with Disney dragging down the Dow. The market continued to digest the October CPI data released on Wednesday. Thursday was Veterans Day. The bond market, the Federal Reserve Bank of the United States and many banking institutions were closed and trading was light. The Dow fell 158.71 points, or 0.44%, to 35921.23; the Nasdaq rose 81.58 points, or 0.52%, to 15704.28; and the S & P 500 rose 2.56 points, or 0.06%, to 4649.27.
In crude oil, oil prices closed slightly higher on Thursday as the market struggled with a stronger dollar and heightened concerns about US inflation, after the OPRC+ cut its 2021 oil forecast due to high oil prices.
In precious metals, COMEX gold futures approached a five-month high hit the previous session on Thursday after strong US consumer index data prompted investors to rush to buy gold, which is seen as a hedge against inflation.
On the data side, Australia's quarterly unemployment rate (%) before 4.6, forecast 4.8, public value 5.2; Australia October employment change (10,000) before-14.11, forecast value of 5, published value of-4.63.
The monthly rate of industrial output (%) in the UK in September was 1, the forecast value was 0.2, and the published value was-0.4; the annual rate of industrial output in September was 4, the forecast value was 3.1, and the public value was 2.9.
In the UK, the initial annual rate (%) of GDP in the third quarter is 23.6, the forecast value is 6.8, and the public value is 6.6; the pre-value of the initial annual rate (%) of GDP in the UK in the third quarter is 5.5, the forecast value is 1.5, and the public value is 1.3.
The pre-value of the UK quarterly adjusted merchandise trade account (£100 million) in September was-137.14, the forecast value was-143.5, and the published value was-147.3; in September, the pre-value of the quarterly adjusted merchandise trade account (£100 million) was-18.8, the forecast value was-32.56, and the published value was-27.77.
In the UK, the monthly GDP rate (%) in September was 0.2, the predicted value was 0.4, and the public value was 0.6.
Singapore's total fuel inventory (10,000 barrels) for the week ended November 10 was 4, 230, with a public value of 4100.
The annual rate of gold production in South Africa in September was 17 and the published value was-6.9.
