Market Information Tuesday 18 May 2021

The European Union and the United States are considering removing mutual import duties on steel. This was announced by both parties in a joint press release. According to the two parties, the disruptions caused by the measures present “a serious threat” to the steel and aluminium industry. On Twitter, EU Commissioner Valdis Dombrovskis reported that the EU will temporarily suspend the increase of 232 tariffs for the US.

Chinese industrial production increased substantially again in April compared to April last year, but less than in the first months of this year. Figures from the Chinese government show that production increased by 9.8%. In March, annual production increased by just over 14% and in January and February by more than 35%. On a monthly basis, a 0.52% increase was recorded in April.

The Japanese economy continued to grow in the first quarter. This was according to preliminary figures from the Japanese government. The gross domestic product increased in the first quarter according to the preliminary estimate by 1.3% on a quarterly basis. This is the third consecutive quarter of growth.

The 6M Euribor decreased with 1 basis point to -0.51% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.17% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.