Steel price rebounds on covid updates, comments from Fitch on China – by anilpanchal7 Metals RiskAppetite China Coronavirus CentralBanks
the UK which allows the quote to brace for this week’s key monetary policy meetings. Furthermore, the People’s Bank of China’s latest action also helps the industrial metal prices to remain firmer.
That said, the Chinese central bank lowers the 14-day reverse repo rate by 10 basis points to 2.15%. “With no reverse repos maturing on Monday, China central bank injects 12 billion yuan on the day,” per Reuters. Elsewhere, US President Biden said, “I'm more optimistic than I have been in a long time.” The national leader also stated that they are going to get control of inflation. On the same line are the covid updates from China as it unlocks Dalian and Chengdu cities while witnessing zero coronavirus cases in Beijing and one, versus zero the previous day, outside Shanghai’s quarantine zone.
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