RUSSIA'S LAVROV: RUSSIA WILL STEP UP ITS EFFORTS TO DESTROY EVERYTHING THAT FUELS KYIV’S WAR MACHINE FROM THE WEST – IFX
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CHINESE-MADE AIR CONDITIONERS ARE SELLING WELL IN EUROPE FOLLOWING A RECORD-BREAKING HEAT WAVE.
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JAPAN COULD EXPERIENCE INCREASED YEN INTERVENTIONS AND QUICKER INTEREST RATE HIKES, SAYS FORMER TOP FOREIGN EXCHANGE OFFICIAL.
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PAKISTAN FM URGES US AMBASSADOR TO IMPLEMENT IRAN MOU 'IN LETTER AND SPIRIT'
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IRGC STRUCK AN OIL TANKER WITH A DRONE AFTER IT ATTEMPTED TO PASS THROUGH THE STRAIT OF HORMUZ WITHOUT IRAN'S AUTHORIZATION.
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RUSSIA: RECEIVED NO FORMAL PROPOSAL FROM TURKEY ON A CEASEFIRE WITH UKRAINE IN BLACK SEA
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U.S. OIL OUTPUT EXPECTED TO BE 13.83 MLN BPD IN AUGUST, SLIGHTLY UP FROM 13.82 MLN BPD IN JULY; FORECASTED AT 13.77 MLN BPD IN SEPTEMBER. U.S. NATURAL GAS PRODUCTION PROJECTED AT 122.6 BCF/DAY IN AUGUST, UP FROM 122 BCF/DAY IN JULY; EXPECTED TO RISE TO 123.2 BCF/DAY IN SEPTEMBER.
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Copper Supply Crunch Deepens as Inventories Fall
Copper markets are facing a growing supply squeeze, with spot prices on the London Metal Exchange (LME) rising sharply above later-dated futures. The September contract traded more than $260 above October futures, marking the widest one-month spread since the 2021 copper squeeze. LME inventories have fallen for 42 consecutive days to 204,975 tons, with nearly half of the remaining metal already earmarked for withdrawal. This leaves very limited immediately available supply and increases pressure on traders holding short futures positions.
The tightening supply is being amplified by strong shipments to the US and China, where copper prices are higher than on the LME. In the US, traders are anticipating possible tariffs on refined copper, while Chinese smelters are cutting production because of tight raw-material supplies. At the same time, long-term concerns over limited mine supply and rising demand from renewable energy, electric vehicles, and data centers are adding to expectations of a market deficit. Copper prices remain near record highs, with analysts warning that prices could rise above $14,500 per ton if the supply squeeze continues.
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Copper markets are facing a growing supply squeeze, with spot prices on the London Metal Exchange (LME) rising sharply above later-dated futures. The September contract traded more than $260 above October futures, marking the widest one-month spread since the 2021 copper squeeze. LME inventories have fallen for 42 consecutive days to 204,975 tons, with nearly half of the remaining metal already earmarked for withdrawal. This leaves very limited immediately available supply and increases pressure on traders holding short futures positions.
The tightening supply is being amplified by strong shipments to the US and China, where copper prices are higher than on the LME. In the US, traders are anticipating possible tariffs on refined copper, while Chinese smelters are cutting production because of tight raw-material supplies. At the same time, long-term concerns over limited mine supply and rising demand from renewable energy, electric vehicles, and data centers are adding to expectations of a market deficit. Copper prices remain near record highs, with analysts warning that prices could rise above $14,500 per ton if the supply squeeze continues.
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Boeing Analysts Turn Increasingly Bullish on Recovery
Wall Street analysts are becoming more optimistic about Boeing as signs of a business recovery begin to emerge. Buy ratings have reached their highest share since October 2022, with recent upgrades from Argus Research and BNP Paribas. None of the 32 analysts tracked by currently recommends selling the stock. Optimism increased after Boeing received long-awaited FAA certification for its 737 Max 7, which CEO Stephanie Pope described as an important milestone in the company’s recovery. Analysts also expect Boeing to benefit from strong long-term aircraft demand and rising defense spending.
Despite the improved sentiment, Boeing still faces significant challenges and its shares remain well below their 2019 record high. The company’s stock has risen only about 6% this year, while the broader market has gained considerably more. Analysts expect free cash flow to improve and production to ramp up, potentially supporting substantial gains over the coming years. However, Boeing still needs to demonstrate consistent execution and financial improvement before investors fully regain confidence.
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Wall Street analysts are becoming more optimistic about Boeing as signs of a business recovery begin to emerge. Buy ratings have reached their highest share since October 2022, with recent upgrades from Argus Research and BNP Paribas. None of the 32 analysts tracked by currently recommends selling the stock. Optimism increased after Boeing received long-awaited FAA certification for its 737 Max 7, which CEO Stephanie Pope described as an important milestone in the company’s recovery. Analysts also expect Boeing to benefit from strong long-term aircraft demand and rising defense spending.
Despite the improved sentiment, Boeing still faces significant challenges and its shares remain well below their 2019 record high. The company’s stock has risen only about 6% this year, while the broader market has gained considerably more. Analysts expect free cash flow to improve and production to ramp up, potentially supporting substantial gains over the coming years. However, Boeing still needs to demonstrate consistent execution and financial improvement before investors fully regain confidence.
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MEXICO HAS APPLIED A DUTY ON AMMONIUM SULFATE IMPORTS FROM CHINA.
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GOLDMAN SACHS INCREASES 12-MONTH ST target FOR STOXX 600 INDEX TO 695 FROM 660.
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GOLDMAN SACHS INCREASES FTSE 100 INDEX FORECAST FOR NEXT YEAR TO 11,400, UP FROM 11,000.
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PENTAGON ANNOUNCES DEAL TO INCREASE PRODUCTION OF MISSILE PARTS.
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PENTAGON REVEALS CONTRACTS WITH BOEING AND RTX FOR MISSILE INTERCEPTORS.
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U.S RETAIL SALES (MOM) (JUL) ACTUAL: -0.6% VS 0.2% PREVIOUS; EST 0.1%
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