Iran Halts All Petrochemical Exports After US Publishes Radio Warning To Stuck Hormuz Ships; Negotiators Cite 'Progress' Toward 2nd Round Of Talks

Iron Ore Bottom In? Prices Reclaim $100 On "Improving Downstream Conditions" Iron ore futures in Singapore surged above $100 a ton, the highest level since mid-July, as tightening Chinese coking coal supplies lifted steelmaking costs and early signs of improving seasonal demand supported prices across the steel supply chain. Rafael Barcellos, head of Latin American metals and mining, pulp and paper equity research at Bradesco BBI, wrote in a note last week that the coal squeeze is helping support steel prices, with rebar and hot-rolled coil reaching multi-month highs. Improving...

Is Europe Sliding Towards Stagflation? Authored by Daniel Lacalle, Europe is not yet in recession, but the latest business and consumer surveys show that the risk is no longer remote. The euro area’s flash composite PMI fell to 48.6 in April from 50.7 in March, moving below the 50 threshold that separates expansion from contraction and signalling a quarterly GDP decline of around 0.1 per cent after a 0.2 per cent gain in the first quarter, according to S&P Global Market Intelligence. At the same time, the European Commission’s flash consumer-confidence indicator dropped to -20.6 in the...

Dozens Of Nations Scramble For World Bank Financing Amid Iran War Global Shock Via The Cradle Twenty-seven countries have moved to activate emergency World Bank financing mechanisms since the US-Israeli war on Iran began in late February, Reuters reported Friday. Three nations have already received approval for fast-tracked funding, while the other 24 are in the process of completing administrative procedures.  Kenya and Iraq have publicly confirmed they are seeking emergency World Bank assistance, with Nairobi facing surging domestic fuel prices and Baghdad grappling with severely diminished oil revenues due to disruptions in maritime exports. Getty...