Asia Market Update: Inflation concerns return as yields spike; On watch for JPY & CNY interventions; Oil spikes on Iran retaliation warning; US PPI in focus tonight + ECB rate decision; CB decisions continue in Asia on Friday.
The last blast furnace built in the United States for steel production opened in 1964. There were 125 coke-based furnaces operating across the country in the mid-1970s. Today there are 12 left. They are in terminal run-off.
President Joe Biden "believes the purchase of this iconic American-owned company by a foreign entity even one from a close ally appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability," National Economic Advisor Lael Brainard said in a statement.
For April-October, the output of India s eight core industries was 8.6 percent higher year-on-year as against 8.4 percent in the first seven months of 2022-23