Latest development5 months ago
Rice Prices Post Biggest Monthly Surge Since 2008 Amid Supply Shocks
Thai white rice prices surged 20% in May as Strait of Hormuz disruptions and El Niño threats pressure global food security.
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China's factory inflation hit a 45-month high in May, driven by a significant shock in energy prices. Car sales in China fell by 21.5% in April, with internal combustion engine sales declining by over 30%. Additionally, the producer price index rose by 6.0% year-on-year, signaling the end of a nearly four-year deflationary cycle.
Thai white rice prices surged 20% in May as Strait of Hormuz disruptions and El Niño threats pressure global food security.
Read the full storyChina's state planner permits independent refiners to reduce processing rates starting June to mitigate record financial losses and energy supply disruptions.
China's Zijin Mining faces delays in its $4 billion acquisition of Allied Gold due to instability in Mali, complicating the firm's global resource expansion strategy.
The closure of the Strait of Hormuz triggered a massive supply shock in industrial metals, driving aluminum prices up 15% amid global supply fears.
Chinese regulators ban new trades on Tiger Brokers and Futu for two years, targeting $32 billion in assets to curb illegal capital flight.
Beijing to control strategic mineral output and enforce foreign investment security reviews starting June 15 to protect finite resources and supply chains.
Eight Chinese regulators issue a joint mandate to curb illegal cross-border securities trading, forcing Futu and Tiger Brokers to liquidate non-compliant accounts within two years.
Foreign Minister Wang Yi confirmed President Xi's upcoming US visit, as both nations agree to establish trade boards and address agricultural market access.
Japan's wholesale inflation hit its fastest annual pace since May, fueling market speculation for a potential Bank of Japan rate hike as early as June.
China's top chipmaker sees a shift in global supply chains as international capacity constraints push overseas clients back to SMIC's foundries.
Chinese fuel shipments dropped to nearly half of pre-conflict levels in May, potentially exacerbating the energy crisis across Asian markets.
Geopolitical tensions in Iran have triggered a naphtha shortage, forcing Chinese plastic manufacturers to pivot toward US ethane as a more affordable alternative.
According to reports, BYD is in talks with Stellantis and other European automakers to acquire underused factories, aiming to expand its regional footprint and bypass trade barriers.
BlackRock's Jeffrey Rosenberg suggests recent CPI and PPI data indicate inflationary pressures may be peaking, potentially stabilizing bond yields and influencing Federal Reserve policy.
April inflation data from Belgium shows price pressures spreading beyond energy into the broader economy, potentially forcing the ECB to accelerate its policy response.
Producer prices saw their largest monthly jump since March 2022, pushing 2-year Treasury yields above 4.00% as inflation concerns intensify.