Financial News on October 20th, the domestic futures market opened in the morning , commodity futures rose and fell, fuel oil rose by more than 3%, liquefied petroleum gas and palm oil rose by more than 2%. In terms of declines, rubber and No. 20 rubber fell by more than 2%, while coke and iron ore fell by more than 1%.
CITIC Futures : Domestic policies will continue to support the economy in the fourth quarter, and black will fall further in the short term, with limited space for further declines
Yesterday, the black sector was weak, and the impact of the epidemic continued to overlap with macro expectations disturbances, and the market was under pressure. On the macro side, the policy bank special loan was issued to support the delivery of residential projects and the policy of ensuring the delivery of buildings continued to advance; at the same time, there is still a margin for infrastructure funds, and the shipments of cement concrete have rebounded recently. However, real estate sales, especially third-tier cities, have fallen back, urban investment land acquisition is restricted, market confidence is loose, coupled with the continued disturbance of geopolitical and expectations of overseas tightening continue, the pressure on commodities remains. Overall, the core of recent market transactions lies in the game of demand in the peak season and the resumption of coal mine production. Domestic policies will continue to support the economy in the fourth quarter, demand may be staged, short-term macro disturbances will continue to be released, and sectors are under pressure. Continue to pay attention to macro data, demand performance and supply disturbances, black has limited room for further decline in the short term.
Biden announced that it would release another 15 million barrels of oil reserves, working hard to fight high oil prices before the midterm elections
US President Biden announced a plan to sell 15 million barrels of crude oil from the national emergency reserves and start replenishing reserves in an attempt to curb high gasoline prices before the midterm elections on November 8. Biden also said that he would replenish strategic oil reserves in the next few years. He is currently criticized by Republicans who accused him of using reserves for political reasons rather than for emergencies.
This article comes from the financial industry
