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23:49
CITIC Securities: Repeated closures of the strait increase market volatility, and nonferrous metals are more sensitive to the freight rate pricing.
However, less than 24 hours later, the Islamic Revolutionary Guard Corps announced the closure of the Strait of Hormuz again, which repeatedly intensified market volatility. Given that the probability of easing tensions between the US and Iran is greater than the risk of escalation into war, major asset classes will be more sensitive to pricing related to navigation rights, especially US dollar-denominated metals that benefit from renewed expectations of Federal Reserve rate cuts triggered by falling oil prices.
23:49
SK Hynix will begin production of SOCAMM2 server modules for Nvidia Vera Rubin chips
SOCAMM2 is a module that adapts low-power memory, previously used mainly in mobile products such as smartphones, for server environments. It is designed to be the primary memory solution for next-generation artificial intelligence servers.
23:31
The conflict between the US and Iran escalated, causing oil prices to surge over 8% at one point, with the Strait of Hormuz blocked again.
After the US Navy seized an Iranian vessel, Iran opened fire on the ship and re-blocked the Strait of Hormuz, causing a significant surge in oil and natural gas prices. US crude oil once rose by 8.4% to $89.60 per barrel, while European natural gas prices jumped as much as 11%.Iran stated that the US interception of its ship violated the ceasefire agreement set to expire on Tuesday. The standoff in the Strait of Hormuz could intensify the global energy crisis and undermine Trump’s prediction that the conflict would end quickly.
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