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china’s relaxing a lil’ bit

for the third year, china's known to have one of the most (if not the strictest) zero-covid policy (i.e. shanghai even had a two-month lockdown)

• while it's unclear whether the policy successfully prevented covid cases (as daily cases are still surging past 10k in the country), china's economy has struggled big time (from its hard-to-recover real estate market to negative gdp growth rate in recent quarters)

metals are sensitive to demand

• industrial metals are those used in electrical wire, cars, pipes, etc.

• china's the second largest economy in the world and the world's leading user of commodities, including industrial metals

• naturally, the market is anticipating ahead an increase in demand for various metals and price movements are already reflecting that

key movements:

• copper futures jumped 7%+ on 11/3 and recently recorded largest one-day % gain since '09

• zinc futures are also up nearly 7% in the past week, and aluminum futures are up ~5% in the same time frame

some metal producers’ tickers to look out for: FCX 0.00 (freeport-mcmoran), RIO 0.00 (rio tinto), NUE 0.00 (nucor)

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💡 something im thinking about

yale law school pulls out of us news' rankings system (click image)

that's all, folks 🐒

as always, i’m no financial advisor! (i’m no substitute for professional financial services)