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On April 30th, according to foreign media reports, copper futures on the Chicago Mercantile Exchange (COMEX) continued to fall on Wednesday, closing at their lowest price in three weeks. A stronger dollar and soaring oil prices fueled concerns about inflation and economic growth, putting downward pressure on copper prices. The Federal Reserve kept interest rates unchanged, but three Fed policymakers dissented from the policy statement, reflecting a growing division within the Fed regarding whether to continue signaling rate cuts. Meanwhile, the two-month-long Iraq War between the US and Israel has led to a shortage of sulfuric acid, which is used in 20% of global copper production processes. In the medium to long term, green transition, electrification, and the artificial intelligence industry will help boost additional demand for this metal, which is widely used in the power and construction sectors, while copper mines face disruptions such as underinvestment and production interruptions.
The Society of Motor Manufacturers and Traders (SMMT) reported that total UK car production fell 8.2% year-on-year in March to 72,511 vehicles.
April 30th - With no signs of a resolution to the Iranian crisis, international oil prices rose for the fourth consecutive day, breaking through $110 per barrel. US President Trump stated that the blockade of Iranian ports would not be lifted until an agreement is reached. Trump discussed possible extensions of the blockade with oil executives; meanwhile, Iranian officials showed no signs of compromise, with the Supreme Leaders military advisor stating that Iran would respond if the blockade continued. Dennis Kisler, Senior Vice President of BOK Financial, stated, "The longer the blockade lasts, the more oil prices will rise. In the long run, this waiting situation may be a driving force for short-term increases in crude oil prices, but it could also be the condition needed to finally end this conflict."
Trump praised the rise in Intels (INTC.O) stock price.
Meta Platforms (META.O) CEO: We believe users will pay for the target-oriented AI features of the "high-end or high-computing-power version".