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Steel Needs Drive Looming U.S. Metals & Minerals Maintenance
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Industrial Info Resources is tracking more than 120 maintenance-related projects industrywide that are set to kick off in the fourth quarter
By William Ploch, Assistant Editor-in-Chief
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Two thresholds quietly fell this week. Gasoline dropped below half of global car sales for the first time ever -- demand destruction maturing into demand replacement. Nobody seemingly unbuys an electric car, ever. Meanwhile for the other "gas" powering the world's industry, reporting pushes Qatari LNG to Europe back to December, with winter right around the corner.
Then the strangest row of all: Ukraine peace talks now carry a multibillion-dollar sale of Lukoil's global assets. Can a war be settled with a transaction?
In geo-economics the ten-year yields touched 5.30%, while the euro sank to a 17-month low. Consider watching the structure, not the seeming slide in markets which are trying to price commodity SnD -- its short & long term viewpoint -- while grappling with Central Bank decisions on rates. So much uncertainty...