Steelmaking is declining in Russia. In accordance with knowledge for January-October 2024, metal manufacturing decreased by 7% in comparison with the identical interval final yr and amounted to 59.1 million tons. The biggest drop was proven by Magnitogorsk Iron and Metal Works (MMK) – by 12% and Severstal – by 8%.

China will limit exports of tungsten, an essential metallic utilized in weapons and semiconductors beginning December 1. The brand new guidelines require export licenses, which is related to elevated management over dual-use items. These measures are being taken towards the background of strained relations with america, which can ban its contractors from buying tungsten from China from 2027.

The pinnacle of the Russian Protection Ministry arrived in North Korea immediately. Throughout the go to, quite a few conferences with representatives of the navy and military-political management of the DPRK are deliberate to debate bilateral cooperation.

The Japanese Prime Minister introduced his need to conclude a peace treaty with Russia. After the outbreak of hostilities on the territory of Ukraine, Japan imposed sanctions towards Russia, which is why Moscow refused to barter the standing of the Kuril Islands and conclude peace. In his speech, the Prime Minister didn’t point out the choice to take care of these sanctions till the top of hostilities.

The Brazilian actual has up to date its historic low on considerations about state funds. Paired with the US greenback, the rial fell to five.9998 per greenback. Buyers are evaluating the long-awaited measures of the administration of Brazilian President Luiz Inacio Lula da Silva to make sure funds steadiness: spending cuts of 70 billion reais ($12 billion), private earnings tax exemption for individuals with the bottom wages and a rise on this tax for high-income individuals.