Reserve Bank of Australia Governor Bullock said the bank is not forecasting an economic contraction this quarter.

Morning close: China’s most-active futures contracts were mostly lower. Methanol and propylene slid more than 6%; polypropylene and polysilicon fell over 5%; bitumen, ethylene glycol (EG), PTA and low-sulfur fuel oil (LU) dropped over 4%. On the upside, stainless steel (SS) rose more than 2%; Shanghai silver and gold, Europe-route container freight and Shanghai tin gained over 1%; Shanghai lead and eggs were near 1% higher.

The U.S. military confirmed on the 15th that a B-52 strategic bomber crashed in the southern Mojave Desert in California. The aircraft departed Edwards Air Force Base at about 11:20 a.m. local time and crashed shortly thereafter; rescue teams are en route. Local media place the crash site roughly 160 km north of Los Angeles. Casualties are unknown. The B-52, nicknamed the Stratofortress, typically has a five-person crew and can carry nuclear weapons and various precision-guided munitions; it has been in service since 1955.