26 July 2024 – Asian commodity markets are looking friendly on Friday, supported by positive developments in the US economy and housing construction there. And China’s renewable energies exceed installed coal capacities for the first time.
In this Stainless Espresso
Asian commodity markets are friendly on Friday
The commodity markets are looking friendly today, Friday, with key commodities posting gains. On the Shanghai Futures Exchange (SHFE), copper rose by around 0.58%, aluminum by around 0.34%, nickel by around 0.86% and tin by 0.40%. The Dalian Commodity Exchange (DCE) also showed positive trends: iron ore rose by more than 2.00% in some contracts, coking coal by 0.54% and coke by 0.31%. These positive developments should boost confidence in the commodity markets ahead of the weekend.
Positive developments in the US economy and housing construction
The US economy is showing impressive progress in several areas. Residential construction and economic growth are reporting encouraging figures that point to continued positive development.
US residential construction on the upswing
The S&P Composite 1500 Homebuilding Index has recorded an impressive performance of almost 16% in euro terms since the beginning of the month. The industry is showing positive signs: in June, 3.9% more building permits were issued than in the previous month. The increase in planned apartment buildings with five or more residential units is…
