Commerzbank confirmed its aluminum price forecast at $2,800 per ton by the end of 2024.

Commerzbank: In the medium to long term, the growth of aluminum demand may encounter a slowdown in capacity growth.

Commerzbank: Aluminum prices are expected to rebound slightly by the end of the year, mainly due to the expected end of interest rate hikes and the emergence of related hopes for economic recovery.

Commerzbank has lowered its aluminum price forecast for the end of 2023 from US$2,600 per ton to US$2,400 per ton.

According to Interfax: Russian automaker GAZ Group has withdrawn its 15.6 billion ruble lawsuit against Volkswagen.

USD/CHF rose more than 0.50% during the day and is now at 0.8886.

After acquiring Credit Suisse, UBS (UBS.N) will double its research coverage of individual stocks and expand its research coverage of bonds to six times.

USD/JPY rose 0.50% during the day and is now at 147.19.

According to Turkish media: Turkish President Erdogan said that he did not see Syrian President Assad taking a positive attitude towards normalization efforts.

European Central Bank Governing Council Visco: We must be very cautious on the future policy path.

Market news: Ukraine has begun sowing winter wheat and rapeseed for the 2024 harvest.

WTI crude oil fell by more than 0.4 US dollars in the short term, falling below 85 US dollars per barrel, down 1.11% in the day.

Turkish banks rose on news that the World Bank is in talks to provide Turkey with $18 billion in new funding.

The Turkish lira pared losses against the dollar.

Market news: The World Bank will provide most of the new funds to Turkey’s private sector, with a new funding plan of US$18 billion, and is negotiating to double its loans to Turkey to US$35 billion.

U.S. natural gas futures fell 5%.

Bank of Israel Governor Yaron: No decision has been made about (my) second term, but the first term was one of the most challenging in history.

Bank of Israel Governor Yaron: Although the Israeli new shekel has depreciated and the foreign exchange market has been volatile, we have not seen market failure.

Bank of Israel Governor Yaron: Given the uncertainty about the path of inflation, "the possibility that we may have to raise interest rates again is still not small."