(Editor’s note: This is the second of a two-part series. Read Part 1 here.) The International Monetary Fund (IMF) recently lowered its 2019 growth forecast for China from 6.3% to 6.2%. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook China’s current economic slowdown shows in the FXI, a large-cap market […]
Category: Macroeconomics
Why Narendra Modi’s Landslide Victory is Good for the Economy but Bad for India
It almost sounds like an oxymoron, doesn’t it: how can an event be good for the economy but bad for the country? Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook As former President Bill Clinton’s campaign strategist James Carville quipped, “it’s the economy, stupid,” meaning if the country is doing […]
Will a Weakening Yuan Result in Rising CRC Steel Imports from China?
In recent weeks, the Chinese yuan (CNY) has weakened against the U.S. dollar (USD). A weaker yuan makes imports cheaper, all other things holding equal. As we can see in this chart, during the past couple of weeks the yuan weakened back to roughly December levels. Will this currency change result in surging steel imports […]
Week in Review: Iron Ore, Global Growth Forecasts and U.S. Raw Steel Production
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner: Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Could the iron ore price continue to rise even further? The April Monthly Metals Index (MMI) report […]
This Morning in Metals: IMF Ups its 2019 Growth Forecast for China
This morning in metals news, the International Monetary Fund (IMF) released a slightly more positive 2019 growth forecast for China, a fire led to damages at one of Rio Tinto’s Pilbara iron ore operations, and Polish copper producer KGHM said it may freeze operations in Canada and the U.S. Need buying strategies for steel? Request your […]
China’s Renminbi is Unlikely to Threaten the Dollar — For Now
A few years ago it was not uncommon to hear pundits calling the end of the dollar’s supremacy, the decline of the greenback’s position as the world’s reserve currency. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Those pundits predicted the dollar would eventually be overtaken by a rising China — […]
One Time-Tested Economic Indicator Points to Possibility of Recession
Readers of The Telegraph are somewhat inured to dire warnings from the paper’s International Business Editor Ambrose Evans-Pritchard. However, his articles are well-researched and in the case of a piece this week, well balanced with arguments for and against his central theme that the bond market, supported by wider data, is showing sufficient warning signs […]
U.S. Housing Starts Cool, Falling 8.7% in February
The U.S. Census Bureau and Department of Housing and Urban Development on Tuesday released data on February housing construction, revealing the month was a particularly slow one for new construction. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook According to the joint report, February housing starts reached a seasonally adjusted […]
Markets Look to China for Some Good News
Stock and currency markets have been a little perkier the last week or so as expectations rise of some form of Chinese stimulus to boost demand — and, hence, global growth. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook That optimism, though, may be somewhat misplaced. China has limited scope […]
U.S. Jobs Report Shock Spooks the Markets
Well, some folks have been talking about it for a while, but figures this week suggest the long-anticipated slowdown has arrived. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Negative numbers out of China have been reported for some months now, particularly falling PMI figures suggesting a steadily deteriorating outlook. […]