Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
20 Jan 2025

Aluminum continues to rally on China growth – ING

LME aluminum ended last week on a strong footing, boosted by signs of economic recovery in China following a series of stimulus measures over the last couple of months. China’s economic data released last Friday showed China’s GDP in 2024 expanded 5%, meeting the government’s target. The final quarter of the year saw growth of 5.4%, which was the fastest pace in six quarters, ING's commodity analysts Warren Patterson and Ewa Manthey note.

LME aluminum ends last week on a strong footing

"The National Bureau of Statistics (NBS) numbers released last week showed monthly primary aluminum production in China rising 4.2% YoY to 3.8mt in December 2024 primarily due to the additions from new production capacity in the Northwestern region of Xinjiang. Cumulatively, production rose 4.6% YoY to around 44mt over Jan’24 – Dec’24. In other metals, monthly crude steel production rose 11.8% YoY to 76mt last month. However, cumulative output fell 1.7% YoY to 1,005.1mt in 2024, the lowest in five years as weakness in the property market continues to weigh on steel demand."

"Weekly data from the Shanghai Futures Exchange (ShFE) showed inventories for base metals remaining mixed over the last week. Aluminum weekly stocks fell by 3,694 tons for a twelfth consecutive week to 178,474 tons as of last Friday, the lowest since 23 February 2024. Zinc inventories decreased by 294 tons (-1.4% week-on-week) for a ninth straight week to 21,040 tons (the lowest since 30 December 2022), while lead inventories declined by 1,351 tons for a fifth consecutive week to 43,503 tons at the end of last week. Meanwhile, weekly inventories for copper and nickel rose by 12.9% WoW and 5.2% WoW, respectively."

Jan 20, 2025

USD/JPY: Unlikely to threaten 156.70 – UOB Group

Sharp bounce in US Dollar (USD) has room to extend; overbought conditions indicate that any advance is unlikely to threaten 156.70. In the longer run, USD remains weak; if it breaks below 154.90, the next objective will be at 154.40, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Read more Previous
Jan 20, 2025

USD/CNH: Upward momentum has dissipated – UOB Group

Downward momentum is building, but this will likely lead to a lower trading range of 7.3200/7.3500 instead of a sustained decline. In the longer run, upward momentum has dissipated; US Dollar (USD) is likely to trade in a range between 7.3100 and 7.3650.
Read more Next