According to the CNBC Indonesian Channel on June 2 June 2, Jakarta, throughout May, the world's 12bet sports betting prices have softened due to unstable world economic conditions, but it has always fluctuated to stabilize more than $ 140 per ton.
According to data from Refinitiv (May 31, 2024), the Intercontinental Exchange (ICE) Newcastle's June 2024 contract 12bet sports betting reference price closed at $ 143.90 per ton, and at the end of last month (at the end of last month ( Compared with $ 142.25 on April 30), the price rose only 1.65 US dollars/ton.
The slowdown in economic prediction in the United States has also led to weakening the world's 12bet sports betting. The U.S. Department of Commerce stated that before the release of the personal consumption expenditure (PCE) inflation data in April 2024, consumer and equipment expenditure was revised downward, and the key indicators of inflation slowed down. In the first quarter, economic growth was lower than previous expectations.
The actual GDP annual rate of GDP in the first quarter of the United States increased by 1.3%, which was lower than the 1.6%of the initial prediction, but slightly higher than the 1.2%of Dow Jones predicted.
Consumption growth is reduced from 2.5%to 2%, which is the main reason for downgrading.
At the same time, China still inhibits the further decline of 12bet sports betting prices because the country's demand for 12bet sports betting is still quite high, and China is the world's largest 12bet sports betting consumer country.
This is because China's economic prediction is expected to develop in a positive direction, which means that China's higher growth will also promote business activities and power demand, and will eventually increase the demand for 12bet sports betting.
Earlier on Wednesday, the International Monetary Fund (IMF) on Wednesday (May 29) adjusted China's economic growth forecast to 5%in 2024. Recently, the improved economic data has also supported this.
Driven by the strong first quarter GDP data and recent policy measures, the International Monetary Fund has corrected the forecast of China's economic growth, raised the economic growth in 2024 from 4.6%to 5%, and the 2025 was adjusted to 4.5%in 2025 to 4.5%. Essence
At the time of the release of the new forecast, China is increasing its efforts to support the recovery of the unbalanced world's second largest economy. China is striving to cope with the long -lasting real estate crisis and its damage to investors, consumers and enterprises.
At the same time, investors are also waiting for the release of Chinese manufacturing activities reflected by the National Bureau of Manufacturing (PMI) in May. The degree of success.
According to the market consensus point of Trading Economics, it is expected that the manufacturing PMI may rise slightly to 50.5.
It is understood that data from the National Bureau of Statistics of China shows that the official manufacturing procurement manager index (PMI) rose to 50.4 in April, and PMI fell to 49.5 in May, which was 0.9 percentage points from April. Falling shows that China's manufacturing industry is still at the threshold of 50 points.
Indian heat wave impact, support international 12bet sports betting prices to rise
According to Thehindu.com, India ’s pilot peak in May in May is close to the expected 235 Gilwa because the country excessively uses air -conditioning such as air -conditioning during the severe heat wave.
Data from the Ministry of Electricity of India shows that on May 6, the demand for peak power consumption or the highest supply on the day has reached 233 Gava, and the same period last year was 221.42 Gava.
At the same time, at the same time, the Ministry of Electricity is expected to reach 235 Gaval during the day, and the peak at night will reach 225 Gava. On May 18, the peak power supply reached 229.57 Gava.
In addition, experts said that the southwest monsoon covers almost the country and arrives at Derry at the end of June. The demand for power next month will remain stable and high.
Earlier, the Indian Meteorological Department (IMD) predicted that India may experience a warmer summer and more heat waves this year. The El Nino phenomenon is expected to last at least until May.
Report said that from March to May, except for northeast India, the western Himalayas, the Southwest Peninsula, and the west coast, the number of heat wave days in most areas of India may be higher than normal.
On May 20, the IMD report showed that most areas of Harriana, Changdigal, Delhi, Rajastan, as well as Punjab, North Central State, Western Central State; East Central State and Gujilat State areas. The maximum temperature is between 43 and 47 degrees Celsius.
IMD stated in its announcement that many regions of Punjab, Harriana State, Changdigal, Delhi, and Westlajast Tanzhan Regional, from May 20th to 24th, it is likely that heat waves to severe heat waves will occur.
TRADING Economics Platform: Newcastle 12bet sports betting Price may be close to $ 150 per ton in the near future
In May, Newcastle 12bet sports betting futures prices wandered around $ 140 per ton. China's 12bet sports betting supply is affected by the reduction of its demand.
On the one hand, due to the stagnation of the real estate and infrastructure industries, the demand for metallurgical 12bet sports betting in China in 2024 will decline for the third consecutive year. In addition, it is expected that starting from late April, hydropower power generation will continue to increase significantly, which may lead to the demand for 12bet sports betting by power plants lower than expected.
On the other hand, the 12bet sports betting production is limited to the intensity of increasing the safety inspection of 12bet sports betting mines. In April this year, China's 12bet sports betting production fell to the lowest level since October 2022.
Therefore, China has increased 12bet sports betting imports that month to make up for the decline in domestic production, and it is to supplement the inventory when the summer demand is expected.
According to the global macro model and analyst forecast of Trading Economics, 12bet sports betting transaction prices are expected to reach $ 145.18/ton at the end of this quarter. Looking forward to the future, it is estimated that the transaction price will reach $ 149.09 within 12 months.
