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On September 7th, the United States is increasing diplomatic pressure on Iran, proposing to refer the issue of Irans obstruction of nuclear inspectors to the UN Security Council, where inspectors have been unable to verify the location of the countrys near-weapons-grade uranium stockpile. This move is expected to proceed at the International Atomic Energy Agency (IAEA) Board of Governors meeting in Vienna this week. Iran has blocked UN nuclear inspectors from examining its uranium stockpile for 15 months since the Israeli airstrikes began in June 2025. Based on a two-page copy of a document, the US resolution demands that Iran "urgently rectify its non-compliance" and allow inspections to ensure that "nuclear material is not diverted." The last time Washington submitted Irans nuclear documents to the UN, Israel launched an attack on the countrys nuclear facilities within 24 hours, triggering a 12-day war. The current conflict began on February 28th, a day after the IAEA reported observing new activity near the bombed facilities.On September 7th, the 2026 International Clean Air Blue Day themed event was held in Beijing. Tong Yanchao, a second-level inspector of the Atmospheric Environment Department of the Ministry of Ecology and Environment, stated that my country has strengthened in-depth air pollution control, with 96% of the countrys coal-fired power generation capacity and 90% of its steel production capacity achieving ultra-low emissions, establishing the worlds largest clean coal power and steel production system. Tong Yanchao indicated that air pollution control work needs to be further deepened and implemented during the 15th Five-Year Plan period. The next step will be guided by the new version of the ambient air quality standards, with a focus on reducing PM2.5 concentrations, emphasizing precise, scientific, and law-based pollution control, vigorously promoting the transformation and upgrading of industrial, energy, and transportation structures, and in-depth pollution control to drive comprehensive improvement in air quality.On September 7th, the Shanghai Futures Exchange (SHFE) reported the following warehouse receipts and changes: 1. Zinc futures warehouse receipts: 91,622 tons, a decrease of 3,745 tons from the previous trading day; 2. TSR20 rubber futures warehouse receipts: 12,196 tons, unchanged from the previous trading day; 3. Copper futures warehouse receipts: 23,315 tons, a decrease of 2,466 tons from the previous trading day; 4. Alumina futures warehouse receipts: 258,579 tons, an increase of 258,579 tons from the previous trading day; 5. International copper futures warehouse receipts: 7,447 tons, an increase of 26 tons from the previous trading day; 6. Lead futures warehouse receipts: 57,742 tons, unchanged from the previous trading day; 7. Aluminum futures warehouse receipts: 219,874 tons, a decrease of 3,843 tons from the previous trading day; 8. Tin futures warehouse receipts: 5,120 tons, an increase of 463 tons from the previous trading day; 9. Butadiene rubber futures warehouse receipts: 25,080 tons, an increase of 25,080 tons compared to the previous trading day; 10. Nickel futures warehouse receipts: 99,447 tons, an increase of 144 tons compared to the previous trading day; 11. Hot-rolled coil futures warehouse receipts: 214,485 tons, a decrease of 2,063 tons compared to the previous trading day; 12. Fuel oil futures warehouse receipts: 12,320 tons, a decrease of 11,450 tons compared to the previous trading day; 13. Rebar warehouse futures warehouse receipts: 78,146 tons, unchanged compared to the previous trading day; 14. Stainless steel warehouse futures warehouse receipts: 72,509 tons, a decrease of 910 tons compared to the previous trading day; 15. Petroleum asphalt plant warehouse futures warehouse receipts: 17,490 tons, a decrease of 8,610 tons compared to the previous trading day; 16. Petroleum asphalt warehouse futures warehouse receipts: 2,730 tons, unchanged compared to the previous trading day; 17. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 18. Silver futures warehouse receipts: 1,405,940 kg, a decrease of 841 kg from the previous trading day; 19. Natural rubber futures warehouse receipts: 143,800 tons, a decrease of 10 tons from the previous trading day; 20. Pulp warehouse futures warehouse receipts: 403,636 tons, an increase of 5,448 tons from the previous trading day; 21. Pulp mill warehouse futures warehouse receipts: 20,000 tons, unchanged from the previous trading day; 22. Gold futures warehouse receipts: 114,858 kg, unchanged from the previous trading day; 23. Low-sulfur fuel oil warehouse futures warehouse receipts: 5,490 tons, a decrease of 2,840 tons from the previous trading day.On September 7th, the yen rose as much as 1.1% to 154.56, reaching its highest level since February and surpassing the high reached after the joint intervention by Japan and the United States. This rebound was supported by rising expectations of a Bank of Japan interest rate hike and speculation about a potential shift in the asset allocation of the Government Pension Investment Fund (GPIF). For several weeks prior, the market had been questioning the long-term effectiveness of the joint intervention by Tokyo and Washington. Jun Mimura, Japans top foreign exchange official, stated last Friday that his fighting stance on the yen issue remained unchanged, even as the yen was strengthening against the dollar. JPMorgan strategists believe that if the yen breaks through the 155 level, further unwinding of large short positions could accelerate the yens rise.The Eurozones Sentix investor confidence index came in at 5.1 in September, its highest level in more than four years.

Parts Scarcity Forces Ford and GM to Shut Down Two Michigan Factories

Aria Thomas

Apr 01, 2022 09:55

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Ford, the United States' No. 2 manufacturer, announced it will halt production at its Flat Rock Assembly Plant, where the Mustang is built, next week due to a worldwide semiconductor shortage.


GM said that it will halt production at its Lansing Grand River assembly plant next week due to a temporary component shortage. The plant produces the Cadillac CT4, Cadillac CT5, and Chevrolet Camaro. GM said that the manufacturing pause was not connected to chips but did not give any details.


The automotive sector is now battling a worldwide chip scarcity caused by the COVID-19 epidemic, which has forced firms to reduce output, while high vehicle prices have largely offset the financial effect.


Ford warned last month that the chip shortfall would result in a reduction in current-quarter car sales. Ford paused production at its Kansas City assembly plant, which produces F-150 pickup trucks, for a week last month owing to a chip shortage.


Ford Motor Company, located in Dearborn, Michigan, said that manufacturing at its other North American factories would continue as usual.


GM said last week that it will cease production at a Fort Wayne, Indiana, assembly facility that makes the Chevrolet Silverado 1500 and GMC Sierra 1500 pickup trucks for two weeks starting April 4 due to a semiconductor chip shortage.