Market Information Tuesday 28 July 2020

China has become net importer of steel again for the first time in eleven years, even though steel production in the Asian country itself is running at full speed. This is reported by S&P Global Platts, provider of raw material information. China imported a total of almost 4.4 million tonnes of steel in June, while only 3.7 million tonnes were exported due to the corona crisis. China was affected by the corona virus earlier than the rest of the world, which is why the first economic recovery also precedes the recovery in other countries.

The price of gold increased to USD 1,923,20 per troy ounce (31.1 grams) on Monday, breaking the record level of September 2011. The price of gold has been increasing significantly recently, as investors are looking for safe havens to invest in due to the uncertainties surrounding the coronavirus. The absolute record stood at just over USD 1,921, set at the beginning of September 2011.

Orders for durable goods in the United States increased by 7.3% in June compared to the previous month. This was reported by the US Department of Commerce based on a preliminary figure. In May, those orders already increased by an adjusted 15.1%.

The 6M Euribor is unchanged at -0.37% compared to previous business day. The 10Y Swap decreased with 3 basis points to -0.22% 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.