S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Steel rebar futures in China rose above CNY 3,000 per tonne, rebounding from the one-year low of CNY 2,085 on August 3rd, tracking support for other ferrous metals amid a momentary dip in iron ore supply to Chinese furnaces. More workers joined BHP’s Port Hedland strike in iron ore operations. The suspension in operations on the world’s largest iron ore export hub added to threats on Sino-Australian trade amid rifts with China’s state-backed commodity buying authority. Still, sluggish demand maintained steel prices down year-to-date. The latest data extended the trend China’s property crisis, indicating that demand for rebar will remain week for major sector. The official construction PMI fell to a record low of 47 in July, and construction starts sank by 23.4% in June annually. Export options for mills were also limited due to protectionist policies by foreign governments against ample Chines capacity. Steel and iron product exports from China fell 4.4% in volume in the year to July.
