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On December 22, local time, Ukrainian President Volodymyr Zelenskyy revealed via social media that the Ukrainian team was in Florida, USA, reviewing clauses of documents related to ending the Russia-Ukraine conflict, security guarantees in Ukraine, and post-war reconstruction, and discussing the timeframe for the implementation of the resolutions. Zelenskyy stated that the consultations had made constructive progress, and the relevant outcomes were of great significance to the peace process and the long-term stability of Ukraine. He looked forward to briefings from Ukrainian officials on the details of the talks.On December 22, local time, U.S. Presidential Special Envoy Witkov stated that over the past three days, the Ukrainian delegation held a series of productive and constructive meetings with U.S. and European partners in Florida, with separate constructive meetings also held between the U.S. and Ukraine. Witkov also noted that the talks with the Ukrainian delegation focused particularly on the timeline for discussions and the sequence of follow-up steps.December 21 – According to sources, another oil tanker has been seized by the United States in waters near Venezuela as President Trump intensifies his oil blockade against the government of Venezuelan President Maduro. The seized tanker, the "Bella 1," is a Panamanian-flagged vessel under U.S. sanctions and was en route to Venezuela to load cargo. This interception follows the seizure of the "Century" supertanker early Saturday morning and the seizure of the "Skipper" tanker on December 10. The White House did not immediately respond to a request for comment.On December 21, local time, the Israel Defense Forces (IDF) issued a statement saying that during operations in northern Gaza that day, several suspicious individuals were spotted gathering near the Yellow Line, the ceasefire line. IDF fired warning shots, but three armed men crossed the Yellow Line and approached IDF forces, posing a "direct threat." IDF airstrikes subsequently killed them. The statement also noted that in two other separate incidents in northern Gaza, IDF forces also discovered two armed men crossing the Yellow Line and approaching soldiers. IDF airstrikes subsequently killed them.On December 21, the French presidential palace stated that it would determine the "best way" for French President Macron to hold dialogue with Russian President Putin "in the coming days." The French presidential palace welcomed Russias statement that Putin was willing to engage in dialogue with Macron, and that France believed the aim of such dialogue was to achieve a "stable and lasting peace," and that the content would be "transparent" to Ukraine and Europe.

Copper price falls below $3.40 as recession fears intensify

Alina Haynes

Oct 25, 2022 15:28

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Copper prices fall below Monday's lows as fears of a US economic recession intensify. The base metal has broken to the downside from the consolidation formed in a narrow band of $3.41 to $3.44 and is aiming for further depreciation as rising interest rates challenge growth rate forecasts.

 

A Reuters poll predicts that the Federal Reserve (Fed) will raise interest rates by 75 basis points (bps) in the first week of November. Notably, the Federal Reserve is acting particularly actively to reduce the inflation rate. Consequently, policy-tightening measures have been consistently popular.

 

This has increased the likelihood of a future recession, as the growth rate has been significantly lowered and unemployment levels are anticipated to rise. Fears of a recession have bolstered US Treasury Chief Janet Yellen's statement that one "cannot rule out the likelihood" of a recession, as reported by MSNBC.

 

China's copper imports have increased by 25.6% during the past year. Amid the announcements of stimulus measures by the Chinese government to avoid the implications of the zero-tolerance Covid strategy and a real estate crash, infrastructure spending has increased. After the monsoon season in Asia, construction and real estate firms are known to recover throughout the winter months.

 

According to a report by ANZ Research, copper imports increased significantly as the forecast for demand in the power industry improved.

 

After the third continuation of XI Jinping's leadership in China, his policy pronouncements will continue to be crucial moving forward.