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SC front-month crude oil futures plunged 8.00% intraday to 545.30 yuan/barrel.
2026-07-27
SC front-month crude oil futures plunged 8.00% intraday to 545.30 yuan/barrel.
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2026-07-27
LME registered warehouse aluminum stocks fell to 271,275 tons as of July 24, the lowest level on record since January 1998. Middle East supply constraints linked to geopolitical conflict have prompted end-users to draw metal from inventories to secur
LME registered warehouse aluminum stocks fell to 271,275 tons as of July 24, the lowest level on record since January 1998. Middle East supply constraints linked to geopolitical conflict have prompted end-users to draw metal from inventories to secure supply. Stocks now equal under one day of global aluminum consumption.
2026-07-27
Wall Street Journal columnist James Mackintosh says SK Hynix’s US ADR has traded at a 16–51% premium to the Korea-listed shares since the ADR’s US listing two weeks ago, peaking at a 29% premium on July 24. He calls the gap a sign of overheated AI-re
Wall Street Journal columnist James Mackintosh says SK Hynix’s US ADR has traded at a 16–51% premium to the Korea-listed shares since the ADR’s US listing two weeks ago, peaking at a 29% premium on July 24. He calls the gap a sign of overheated AI-related trading and notes conversion restrictions on the underlying Korea shares block ordinary arbitrage (buy Korea/convert to ADR/sell US), allowing the premium to persist. That structural impediment raises the risk of large losses for funds if the premium widens further — short positions or borrowed-stock hedges could be squeezed. By contrast, TSMC’s average US premium since the 2022 ChatGPT launch is ~15%, making SK Hynix’s current premium unusually elevated. Mackintosh cautions US ADR buyers are likely to incur losses unless Korea-listed shares rise; use of ADRs for financing would magnify those losses.
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