Shanghai Futures Exchange said this week inventories fell by 17,120 tonnes for copper, 12,299 tonnes for aluminum, 2,285 tonnes for zinc, 1,914 tonnes for lead and 150 tonnes for nickel; tin inventories rose 363 tonnes and natural rubber inventories rose 830 tonnes.

S&P expects fuel tax cuts and potentially higher fertilizer-subsidy outlays will put pressure on this year’s fiscal deficit.

Germany and five fiscally hawkish EU members said the European Commission’s seven‑year €2tn budget proposal must be cut by several hundred billion euros to reflect ongoing fiscal consolidation. Chancellor MERZ met in Berlin with leaders of the Netherlands, Denmark, Austria, Finland and Sweden to coordinate positions and urged “balanced reductions” to the Commission’s plan, which still requires member‑state approval. EU leaders are aiming to finalise the 2028–34 budget by year‑end.