Market Update:
US markets recovered from what was considered the worst week of trading for November 2018, the Dow Jones added 1.5% to 24,640 whilst the S&P 500 gained 1.6% to 2,673; The price of Iron ore has declined due to the sinking mill profitability in China prompting steelmakers to reduce raw material consumption, following slumps in crude oil and copper prices; Saudi Arabia responds to pressures from U.S. President Donald Trump to drive oil prices lower by increasing their daily crude output to 11.2 million barrels per day, according to Bloomberg; Nickel decreased 0.4% overnight on the LME to 10,804 US$/t, the commodity is heading for a sixth straight monthly loss amid signs of surging supply from Indonesia and mounting concerns over Chinese demand; The Aluminium price is expected to face headwinds in the near future due to its large exposure to the automotive sector and the likelihood of further delays in U.S. Sanctions on Russia for Aluminium production, according to Bloomberg.
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