ASX Today: Early Pressure as Inflation, Ukraine Weigh on Wall Street

the market herald2022-03-11

A 40-year high in US inflation and the failure of peace talks between Russia and Ukraine helped drag Wall Street lower overnight, signalling a weak start to Australian trade.ASX futures eased 38 ...

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Comments

Fatfish
2022-03-11
Fatfish
roti prata flip situation tie to war situation. So i guss if Russia theatened Chemical or nuclear warfare then shares will plummet, If not will be jus day by day flip up and down till news get bored over, jus like covid started
SPOT_ON
2022-03-11
SPOT_ON
Run
Ermmmmmm
2022-03-11
Ermmmmmm
How do we end well this

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Wheat plunged 9.5 percent. Iron ore also eased. Most precious and industrial metals rebounded.Wall StreetUS stocks trimmed sharp early losses as an attempted rally in crude oil rolled over. Earlier, stocks sank as investors assessed another red-hot US inflation reading and declines on European markets as hopes for a ceasefire in Ukraine were dashed.The S&P 500 fell 18 points or 0.43 percent. The Dow Jones Industrial Average more than halved its loss to 112 points or 0.34 percent. The Nasdaq Composite shed 126 points or 0.95 percent.Stocks opened underwater after Februaryconsumer prices showed no let-up on pressure on the Federal Reserve to raise rates. The consumer price index increased 0.8 percent last month, lifting the annual rise to a fresh 40-year high of 7.9 percent. Both figures were ahead of expectations.Energy and food costs were largely responsible for the increase. The data captured some of the surge in prices since the start of the Ukraine war, but not recent increases that lifted US gasoline prices to a record.Oil futures extended Wednesday’s declines in volatile trade. Brent crude settled US$1.81 or 1.6 percent lower at US$109.33 a barrel. The international benchmark fell 13.2 percent the previous session from a 14-year high.The US benchmark, West Texas Intermediate, dropped US$2.68 or 2.5 percent to US$106.62. The price of gasoline eased 4.2 percent. Heating oil dropped almost 4.9 percent.Peace talks between the foreign ministers of Russia and Ukraine ended without a breakthrough. Ukraine said Russia rejected a ceasefire to allow the distribution of aid and the evacuation of refugees. Russia denied bombing a hospital and insisted the invasion was going to plan.“The violent gyrations of the market seem completely attached to Ukraine-Russia peace talks and the subsequent volatility of energy costs,” Timothy Lesko, senior wealth advisor at Mariner Wealth Advisors, told CNBC. “The fall in commodity prices [on Wednesday] seemed to trigger a relief rally that is unwinding a bit as peace talks seemed fruitless.”Amazon jumped 5.41 percent after announcing a US$10 billion share buyback and a 20-for-1 stock split. Goldman Sachs dropped 1.1 percent after becoming the first major US investment bank to announce it will exit Russia.European markets slumped after the European Central Bank signaled it will accelerate the conclusion of its bond-buying program in the face of strong inflation. The pan-European Stoxx 600 fell 1.69 percent. Germany’s DAX index shed 2.93 percent. Italy’s FTSE MIB index gave up 4.2 percent.Australian outlookThe rollercoaster ride continues. The S&P/ASX 200looks set for another dip after stringing together back-to-back gains for the first time in a week. A decline of more than 20 points this session would condemn the benchmark to a second straight weekly loss.ASX futures continued to lose altitude this morning even as Wall Street pared its losses. The banks that provided much of yesterday’s heavyweight momentum may face pressure following a 0.82 percent drop in US financials.Technology, the standout sector over the last two ASX sessions, fell 1.75 percent in the US.US energy stocks rebounded 3.07 percent despite the retreat in energy prices. Also strong were consumer discretionary +1.16 percent, utilities +0.72 percent and real estate +0.35 percent.The outlook for domestic rates will be back in the spotlight as Reserve Bank Governor Philip Lowe takes part in a panel discussion at the Banking 2022 Conference in Sydney from 9.15 am AEDT.IPOs: Catalano’s Seafood is due to hit the boards at 1.30 pm. This 50-year-old family-run WA business processes, retails and exports seafood.The dollar gained for a second day, rising 0.57 percent to 73.58 US cents.CommoditiesGold climbed back above US$2,000 as investors hedged against inflation. Metal for April delivery settled US$12.20 or 0.6 percent higher at US$2,000.40 an ounce.Prices hit a 19-month high on Tuesday night before Wednesday’s relief rally on equity markets temporarily dulled interest in havens. Overnight, the NYSE Arca Gold Bugs Index firmed 1.8 percent.Silver gained 1.7 percent. Palladium fell 1 percent.Benchmark Chicago Board of Trade wheat futures sank 9.5 percent to US$10.87 a bushel.“The market is pausing to catch its breath a bit,” Jim Gerlach, president of commodities broker A/C Trading, told Reuters. “It overshot fair value, so the market is going to hash it out here and figure out where real demand lies in terms of prices.”Iron ore continued to back off Monday’s six-month high. The spot price for ore landed in China declined US$1.20 or 0.8 percent to US$156.35 a tonne.BHP‘s US-traded depositary receipts gained 2 percent after its UK listing added 1.04 percent. Rio Tinto put on 2.65 percent in the US and 0.63 percent in the UK.Aluminium bounced off a two-week low as recent weakness in industrial metals brought buyers back to the market. Benchmark aluminium on the London Metal Exchange (LME) rallied 2.59 percent to US$3,427.50 a tonne. Copper gained 1.15 percent, zinc 0.59 percent and tin 8.88 percent. Lead lost 2.06 percent.Trade in nickel on the LME will remain suspended until next week while the exchange works through a crisis triggered by this week’s explosive gains. The metal used in stainless steel plunged 17 percent yesterday in Shanghai trade for a second day, the maximum allowed.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9036994899,"gmtCreate":1646959202560,"gmtModify":1676534181571,"author":{"id":"4107558527965530","authorId":"4107558527965530","name":"Fatfish","avatar":"https://community-static.tradeup.com/news/b1a877668ab7001a2552d3539aff7972","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"4107558527965530","authorIdStr":"4107558527965530"},"htmlText":"roti prata flip situation tie to war situation. So i guss if Russia theatened Chemical or nuclear warfare then shares will plummet, If not will be jus day by day flip up and down till news get bored over, jus like covid started","listText":"roti prata flip situation tie to war situation. So i guss if Russia theatened Chemical or nuclear warfare then shares will plummet, If not will be jus day by day flip up and down till news get bored over, jus like covid started","text":"roti prata flip situation tie to war situation. So i guss if Russia theatened Chemical or nuclear warfare then shares will plummet, If not will be jus day by day flip up and down till news get bored over, jus like covid started","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036994899","repostId":1122161224,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9036903647,"gmtCreate":1646957717123,"gmtModify":1676534181150,"author":{"id":"3582922989777578","authorId":"3582922989777578","name":"SPOT_ON","avatar":"https://static.tigerbbs.com/080f029371339d9db26930961de6adb1","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":4,"crmLevelSwitch":1,"idStr":"3582922989777578","authorIdStr":"3582922989777578"},"htmlText":"Run","listText":"Run","text":"Run","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036903647","repostId":1122161224,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9036078165,"gmtCreate":1646956951423,"gmtModify":1676534180955,"author":{"id":"4087557783698070","authorId":"4087557783698070","name":"Ermmmmmm","avatar":"https://static.tigerbbs.com/b89bbeb73fe9212f0b5efc7185ae8a51","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087557783698070","authorIdStr":"4087557783698070"},"htmlText":"How do we end well this&nbsp;","listText":"How do we end well this&nbsp;","text":"How do we end well this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036078165","repostId":1122161224,"repostType":4,"repost":{"id":"1122161224","kind":"news","pubTimestamp":1646956880,"share":"https://ttm.financial/m/news/1122161224?lang=&edition=fundamental","pubTime":"2022-03-11 08:01","market":"other","language":"en","title":"ASX Today: Early Pressure as Inflation, Ukraine Weigh on Wall Street","url":"https://stock-news.laohu8.com/highlight/detail?id=1122161224","media":"the market herald","summary":"A 40-year high in US inflation and the failure of peace talks between Russia and Ukraine helped drag","content":"<html><head></head><body><p>A 40-year high in US inflation and the failure of peace talks between Russia and Ukraine helped drag Wall Street lower overnight, signalling a weak start to Australian trade.</p><p><b>ASX futures</b> eased 38 points or 0.53 percent as US stocks fell for the fifth time in six sessions.</p><p>Crude oil declined for a second night. Wheat plunged 9.5 percent. Iron ore also eased. Most precious and industrial metals rebounded.</p><p><b>Wall Street</b></p><p>US stocks trimmed sharp early losses as an attempted rally in crude oil rolled over. Earlier, stocks sank as investors assessed another red-hot US inflation reading and declines on European markets as hopes for a ceasefire in Ukraine were dashed.</p><p>The <b>S&amp;P 500</b> fell 18 points or 0.43 percent. The <b>Dow Jones Industrial Average</b> more than halved its loss to 112 points or 0.34 percent. The <b>Nasdaq Composite</b> shed 126 points or 0.95 percent.</p><p>Stocks opened underwater after February<b>consumer prices</b> showed no let-up on pressure on the Federal Reserve to raise rates. The consumer price index increased 0.8 percent last month, lifting the annual rise to a fresh 40-year high of 7.9 percent. Both figures were ahead of expectations.</p><p>Energy and food costs were largely responsible for the increase. The data captured some of the surge in prices since the start of the Ukraine war, but not recent increases that lifted US gasoline prices to a record.</p><p><b>Oil</b> futures extended Wednesday’s declines in volatile trade. Brent crude settled US$1.81 or 1.6 percent lower at US$109.33 a barrel. The international benchmark fell 13.2 percent the previous session from a 14-year high.</p><p>The US benchmark, West Texas Intermediate, dropped US$2.68 or 2.5 percent to US$106.62. The price of <b>gasoline</b> eased 4.2 percent. Heating oil dropped almost 4.9 percent.</p><p><b>Peace talks</b> between the foreign ministers of Russia and Ukraine ended without a breakthrough. Ukraine said Russia rejected a ceasefire to allow the distribution of aid and the evacuation of refugees. Russia denied bombing a hospital and insisted the invasion was going to plan.</p><p>“The violent gyrations of the market seem completely attached to Ukraine-Russia peace talks and the subsequent volatility of energy costs,” Timothy Lesko, senior wealth advisor at Mariner Wealth Advisors, told CNBC. “The fall in commodity prices [on Wednesday] seemed to trigger a relief rally that is unwinding a bit as peace talks seemed fruitless.”</p><p><b>Amazon</b> jumped 5.41 percent after announcing a US$10 billion share buyback and a 20-for-1 stock split. <b>Goldman Sachs</b> dropped 1.1 percent after becoming the first major US investment bank to announce it will exit Russia.</p><p><b>European markets</b> slumped after the European Central Bank signaled it will accelerate the conclusion of its bond-buying program in the face of strong inflation. The pan-European Stoxx 600 fell 1.69 percent. Germany’s DAX index shed 2.93 percent. Italy’s FTSE MIB index gave up 4.2 percent.</p><p>Australian outlook</p><p>The rollercoaster ride continues. The <b>S&amp;P/ASX 200</b>looks set for another dip after stringing together back-to-back gains for the first time in a week. A decline of more than 20 points this session would condemn the benchmark to a second straight weekly loss.</p><p>ASX futures continued to lose altitude this morning even as Wall Street pared its losses. The <b>banks</b> that provided much of yesterday’s heavyweight momentum may face pressure following a 0.82 percent drop in US financials.</p><p><b>Technology</b>, the standout sector over the last two ASX sessions, fell 1.75 percent in the US.</p><p>US <b>energy stocks</b> rebounded 3.07 percent despite the retreat in energy prices. Also strong were consumer discretionary +1.16 percent, utilities +0.72 percent and real estate +0.35 percent.</p><p>The outlook for domestic <b>rates</b> will be back in the spotlight as Reserve Bank Governor Philip Lowe takes part in a panel discussion at the Banking 2022 Conference in Sydney from 9.15 am AEDT.</p><p><b>IPOs</b>: Catalano’s Seafood is due to hit the boards at 1.30 pm. This 50-year-old family-run WA business processes, retails and exports seafood.</p><p>The <b>dollar</b> gained for a second day, rising 0.57 percent to 73.58 US cents.</p><p>Commodities</p><p><b>Gold</b> climbed back above US$2,000 as investors hedged against inflation. Metal for April delivery settled US$12.20 or 0.6 percent higher at US$2,000.40 an ounce.</p><p>Prices hit a 19-month high on Tuesday night before Wednesday’s relief rally on equity markets temporarily dulled interest in havens. Overnight, the NYSE Arca Gold Bugs Index firmed 1.8 percent.</p><p><b>Silver</b> gained 1.7 percent. Palladium fell 1 percent.</p><p>Benchmark Chicago Board of Trade <b>wheat</b> futures sank 9.5 percent to US$10.87 a bushel.</p><p>“The market is pausing to catch its breath a bit,” Jim Gerlach, president of commodities broker A/C Trading, told Reuters. “It overshot fair value, so the market is going to hash it out here and figure out where real demand lies in terms of prices.”</p><p><b>Iron ore</b> continued to back off Monday’s six-month high. The spot price for ore landed in China declined US$1.20 or 0.8 percent to US$156.35 a tonne.</p><p><b>BHP</b>‘s US-traded depositary receipts gained 2 percent after its UK listing added 1.04 percent. <b>Rio Tinto</b> put on 2.65 percent in the US and 0.63 percent in the UK.</p><p><b>Aluminium</b> bounced off a two-week low as recent weakness in industrial metals brought buyers back to the market. Benchmark aluminium on the London Metal Exchange (LME) rallied 2.59 percent to US$3,427.50 a tonne. Copper gained 1.15 percent, zinc 0.59 percent and tin 8.88 percent. Lead lost 2.06 percent.</p><p>Trade in <b>nickel</b> on the LME will remain suspended until next week while the exchange works through a crisis triggered by this week’s explosive gains. The metal used in stainless steel plunged 17 percent yesterday in Shanghai trade for a second day, the maximum allowed.</p></body></html>","source":"lsy1645077863021","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ASX Today: Early Pressure as Inflation, Ukraine Weigh on Wall Street</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASX Today: Early Pressure as Inflation, Ukraine Weigh on Wall Street\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-11 08:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://themarketherald.com.au/asx-today-early-pressure-as-inflation-ukraine-weigh-on-wall-street-2022-03-11/><strong>the market herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A 40-year high in US inflation and the failure of peace talks between Russia and Ukraine helped drag Wall Street lower overnight, signalling a weak start to Australian trade.ASX futures eased 38 ...</p>\n\n<a href=\"https://themarketherald.com.au/asx-today-early-pressure-as-inflation-ukraine-weigh-on-wall-street-2022-03-11/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XAO.AU":"标普/澳交所 普通股指数","XKO.AU":"标普/澳交所 300指数","XJO.AU":"标普/澳交所 200指数"},"source_url":"https://themarketherald.com.au/asx-today-early-pressure-as-inflation-ukraine-weigh-on-wall-street-2022-03-11/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122161224","content_text":"A 40-year high in US inflation and the failure of peace talks between Russia and Ukraine helped drag Wall Street lower overnight, signalling a weak start to Australian trade.ASX futures eased 38 points or 0.53 percent as US stocks fell for the fifth time in six sessions.Crude oil declined for a second night. Wheat plunged 9.5 percent. Iron ore also eased. Most precious and industrial metals rebounded.Wall StreetUS stocks trimmed sharp early losses as an attempted rally in crude oil rolled over. Earlier, stocks sank as investors assessed another red-hot US inflation reading and declines on European markets as hopes for a ceasefire in Ukraine were dashed.The S&P 500 fell 18 points or 0.43 percent. The Dow Jones Industrial Average more than halved its loss to 112 points or 0.34 percent. The Nasdaq Composite shed 126 points or 0.95 percent.Stocks opened underwater after Februaryconsumer prices showed no let-up on pressure on the Federal Reserve to raise rates. The consumer price index increased 0.8 percent last month, lifting the annual rise to a fresh 40-year high of 7.9 percent. Both figures were ahead of expectations.Energy and food costs were largely responsible for the increase. The data captured some of the surge in prices since the start of the Ukraine war, but not recent increases that lifted US gasoline prices to a record.Oil futures extended Wednesday’s declines in volatile trade. Brent crude settled US$1.81 or 1.6 percent lower at US$109.33 a barrel. The international benchmark fell 13.2 percent the previous session from a 14-year high.The US benchmark, West Texas Intermediate, dropped US$2.68 or 2.5 percent to US$106.62. The price of gasoline eased 4.2 percent. Heating oil dropped almost 4.9 percent.Peace talks between the foreign ministers of Russia and Ukraine ended without a breakthrough. Ukraine said Russia rejected a ceasefire to allow the distribution of aid and the evacuation of refugees. Russia denied bombing a hospital and insisted the invasion was going to plan.“The violent gyrations of the market seem completely attached to Ukraine-Russia peace talks and the subsequent volatility of energy costs,” Timothy Lesko, senior wealth advisor at Mariner Wealth Advisors, told CNBC. “The fall in commodity prices [on Wednesday] seemed to trigger a relief rally that is unwinding a bit as peace talks seemed fruitless.”Amazon jumped 5.41 percent after announcing a US$10 billion share buyback and a 20-for-1 stock split. Goldman Sachs dropped 1.1 percent after becoming the first major US investment bank to announce it will exit Russia.European markets slumped after the European Central Bank signaled it will accelerate the conclusion of its bond-buying program in the face of strong inflation. The pan-European Stoxx 600 fell 1.69 percent. Germany’s DAX index shed 2.93 percent. Italy’s FTSE MIB index gave up 4.2 percent.Australian outlookThe rollercoaster ride continues. The S&P/ASX 200looks set for another dip after stringing together back-to-back gains for the first time in a week. A decline of more than 20 points this session would condemn the benchmark to a second straight weekly loss.ASX futures continued to lose altitude this morning even as Wall Street pared its losses. The banks that provided much of yesterday’s heavyweight momentum may face pressure following a 0.82 percent drop in US financials.Technology, the standout sector over the last two ASX sessions, fell 1.75 percent in the US.US energy stocks rebounded 3.07 percent despite the retreat in energy prices. Also strong were consumer discretionary +1.16 percent, utilities +0.72 percent and real estate +0.35 percent.The outlook for domestic rates will be back in the spotlight as Reserve Bank Governor Philip Lowe takes part in a panel discussion at the Banking 2022 Conference in Sydney from 9.15 am AEDT.IPOs: Catalano’s Seafood is due to hit the boards at 1.30 pm. This 50-year-old family-run WA business processes, retails and exports seafood.The dollar gained for a second day, rising 0.57 percent to 73.58 US cents.CommoditiesGold climbed back above US$2,000 as investors hedged against inflation. Metal for April delivery settled US$12.20 or 0.6 percent higher at US$2,000.40 an ounce.Prices hit a 19-month high on Tuesday night before Wednesday’s relief rally on equity markets temporarily dulled interest in havens. Overnight, the NYSE Arca Gold Bugs Index firmed 1.8 percent.Silver gained 1.7 percent. Palladium fell 1 percent.Benchmark Chicago Board of Trade wheat futures sank 9.5 percent to US$10.87 a bushel.“The market is pausing to catch its breath a bit,” Jim Gerlach, president of commodities broker A/C Trading, told Reuters. “It overshot fair value, so the market is going to hash it out here and figure out where real demand lies in terms of prices.”Iron ore continued to back off Monday’s six-month high. The spot price for ore landed in China declined US$1.20 or 0.8 percent to US$156.35 a tonne.BHP‘s US-traded depositary receipts gained 2 percent after its UK listing added 1.04 percent. Rio Tinto put on 2.65 percent in the US and 0.63 percent in the UK.Aluminium bounced off a two-week low as recent weakness in industrial metals brought buyers back to the market. Benchmark aluminium on the London Metal Exchange (LME) rallied 2.59 percent to US$3,427.50 a tonne. Copper gained 1.15 percent, zinc 0.59 percent and tin 8.88 percent. Lead lost 2.06 percent.Trade in nickel on the LME will remain suspended until next week while the exchange works through a crisis triggered by this week’s explosive gains. The metal used in stainless steel plunged 17 percent yesterday in Shanghai trade for a second day, the maximum allowed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":124,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1122161224"}