French 10-year sovereign risk premium widened to 150 bps.

Traders, pricing a lower chance the US will impose tariffs on refined-metal imports, pushed LME three-month copper down about 0.5% to around $14,340/ton after Monday. The prospect of US tariffs earlier this year had driven large copper inflows into US warehouses and tightened supply elsewhere; with Trump’s second term nearing its midpoint some bulls now doubt he will follow through, prompting position adjustment. Stronger US rate-hike expectations are also weighing on industrial metals. ANZ said ongoing supply-side issues could limit copper’s downside, citing a global copper-concentrate shortage that may force cutbacks at a major South Korean smelter and reduce supply.

Oct 15-18 marked the opening phase of the 2026 Douyin Mall Double 11 shopping festival. Platform tiered support boosted SME performance: store-livestream rooms with GMV >10 MLN yuan rose 98% YoY; new store-livestream merchants crossing the 10 MLN yuan GMV threshold rose 133% YoY. Coupon promotions lifted the number of merchants with GMV >1 MLN yuan by 38% YoY, those >10 MLN yuan by 36% and those >100 MLN yuan by 200% YoY. By sector, agri-fresh and pet merchants with GMV >10 MLN yuan rose 250% and 200% YoY respectively; maternal & baby and FMCG sectors also generated incremental merchant growth.