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2025-10-30 Thursday

2025-11-04

14:05:37

Weekly apparent demand for rebar in China as of October 30

Previous : 226.01 Forecast : -

Published Value 232.18

Previous

14:05:35

China's weekly rebar output as of October 30

Previous : 207.07 Forecast : -

Published Value 212.59

Previous

14:05:33

Weekly inventory of rebar plants in China as of October 30

Previous : 184.63 Forecast : -

Published Value 171.71

Previous

14:05:32

China's weekly social inventory of rebar as of October 30

Previous : 437.48 Forecast : -

Published Value 430.81

Previous

13:31:49

[Hot News Recap: Bank of Japan Keeps Interest Rates Unchanged, Reiterates Expectations for Further Rate Hikes] 1. As expected, the Bank of Japan (BOJ) kept its policy rate unchanged at 0.5% on Thursday, while raising its economic growth forecast for the current fiscal year and reiterating that it will continue to raise borrowing costs if the economy and prices move in line with its outlook. 2. The quarterly outlook report showed that the BOJ slightly raised its GDP forecast for the fiscal year ending March 2026 and increased its inflation forecast for fiscal year 2026. The report maintained the wording from July, expecting core inflation to reach 2% by the latter half of the forecast period ending March 2027, with inflation risks "roughly balanced." 3. Policy board members Naoki Tamura and Hajime Takada dissented from maintaining the interest rate, reiterating their support for raising rates to 0.75%. The BOJ statement emphasized: "If the economic and price forecasts are realized, we will continue to raise the policy rate and adjust the strength of monetary support according to the degree of improvement." 4. Investors are focused on Governor Kazuo Ueda's 2:30 PM press conference, hoping he will provide clues about the timing and pace of future rate hikes. HSBC's chief Asia economist, Fred Neumann, stated, "With high inflation, a robust economy, and increased fiscal support, a rate hike by the Bank of Japan is only a matter of time, and officials may act soon." 5. Despite hawkish arguments that conditions are ripe, doves like Ueda tend to wait for more data to assess the impact of slowing US growth and Trump's tariff policies. New political variables further complicate the decision-making process—the inauguration of new Prime Minister Sanae Takaichi last week, with her loose monetary policy and expansionary fiscal policies prompting the market to postpone expectations of an October rate hike. 6. Previous surveys showed that most economists expect the central bank to raise rates in October or December, with almost unanimous consensus that rates will rise to 0.75% by the end of March. While Ueda hinted that the normalization path remains unchanged, he emphasized the need to be wary of external shocks disrupting the positive wage-price cycle.

13:19:13

[German Machinery Manufacturers Call for Renegotiation of EU-US Tariff Agreement] On the 29th local time, the German Engineering Federation (DEF) issued a statement saying that the trade agreement reached between the EU and the US is "worthless" for the German and European machinery manufacturing industries. The statement argued that if the US includes more German and EU products in the steel and aluminum tariffs, it will severely impact German and EU machinery exports. The DEF stated that the so-called tariff agreement between the EU and the US poses a significant potential risk to the German and EU machinery industries because the US plans to include more products in the steel and aluminum tariffs. In December, the US is expected to impose a 50% tariff on approximately 200 types of machinery products, and in the worst-case scenario, could impose punitive tariffs as high as 200%. In August, the US already expanded the scope of EU machinery products subject to steel and aluminum tariffs, affecting approximately 40% of Germany and the EU's total machinery exports to the US. German Engineering Federation (DEF) President Kärrat stated on the 29th that if the US expands its tariffs in December, it is estimated that 56% of Germany's machinery exports to the US will be affected, impacting almost every sector of the machinery industry. Imposing import tariffs on European machinery products has not only failed to promote the US government's goals of protecting national security and revitalizing American industry, but has actually undermined these goals. This is because European-made machinery plays a crucial role in US production, especially in sectors vital to national security such as weapons systems, semiconductors, and aerospace. Kärrat stated that although the EU-US tariff agreement has been finalized, the EU must not let its guard down. The DEF calls for renegotiating the EU-US tariff agreement, as it fails to provide predictability and stability for the machinery manufacturing industry. (CCTV)

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