Daily FNArena News

Steel industry consultants MEPS estimates global steel production will increase 7.5% this year, the fifth year in a row where the increase has topped 5%.

A lower than expected PPI figure allowed the US stock market to shake off some of its inflation worries last night.

HSBC suggests as long as the US economy doesn’t experience a hard landing, demand from China will be enough to continue driving commodity prices higher.

Asian equity markets have rallied in recent weeks but experts question the sustainability of the move given the earnings outlook is worsening.

Bendigo Bank reported a profit result below most broker forecasts yesterday and remains out of favour in terms of overall ratings, but this hasn’t hurt the share price.

Leighton Holdings’ result caught many an analyst by surprise, although Deutsche smirked and JP Morgan remained cynical.

Technical analysis suggests the short term spot price outlook for gold’s little brother is down.

The supposed ceasefire in Lebanon was sufficient fuel for a morning rally, but inflation worries crept into the afternoon.

While alumina demand from China is falling as its production increases, it continues to require significant imports of bauxite, which shapes as good news for companies in that market.

The broker’s currency team is neutral on the USD, but the precious metals experts have increased their short term price forecasts.