Asian shares fall as oil rises and Treasury yields climb
Major Asian, US and European stock indexes were lower, while bonds and the dollar were mixed. The report also showed Brent crude higher and gold at a more than seven-week low.
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Global stocks fall as oil rises, Treasury yields extend gains
Major stock indexes fell, with the MSCI world gauge down 0.83%, as oil prices resumed their rise and Treasury yields extended gains. Spot gold dropped 3.5% to a more than seven-week low.
Iron Ore Pressured by Weak Fundamentals
Iron ore futures in China traded around CNY 710 per ton, hovering near one-month lows as weak fundamentals continued to weigh on the market. Supply remained ample, with shipments from top producer Australia rising above 21 million tons week-on-week, contributing to elevated port arrivals. Industry data also showed that
Steel Pressured by Weak Fundamentals
Steel rebar futures remained below CNY 3,100 per ton, staying under pressure as weak market fundamentals continued to weigh on prices. Elevated coke prices continued to squeeze steelmakers’ profit margins, prompting some producers to scale back operations and undergo maintenance. Industry data showed that steel mill pr