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Futures News on October 14, according to SMM, the mainstream flat copper is quoted at a discount of 70 yuan/ton to 40 yuan/ton for the current month contract, and good copper is quoted at a discount of 30 yuan/ton to 10 yuan/ton. Due to the concentrated arrival of imported copper and the fact that there is still a lot of imported copper flowing into domestic trade until late October, the holders of the Shanghai Copper 2410 contract are obviously active in shipping before delivery. However, due to the limited increase in copper price consumption and the resumption of work and production of waste recycling enterprises after the National Day, which further squeezes electrolytic copper orders, it is expected that the premium will still be under pressure to decline tomorrow.Futures news on October 14, Fubao data: On October 14, 2024, Fubao scrap copper price index was 71,600 yuan/ton (excluding tax), up 100 yuan/ton from last Friday; Fubao spot copper (1#) price was 77,630 yuan/ton, up 200 yuan/ton from last Friday; direct refined scrap price difference was 6,030 yuan/ton, up 100 yuan/ton from last Friday, 160 yuan/ton lower than the average of the previous 5 days (6,190), and 140 yuan/ton higher than the average of the past three months (5,890).On October 14, Cong Lin, deputy director of the Financial Supervision Administration, said at the meeting that the Financial Supervision Administration will take the lead in establishing a coordination mechanism to support the financing of small and micro enterprises, strengthen the linkage between the central government and local governments, and work from both the supply and demand sides to coordinate and solve the problems of small and micro enterprises difficulty in financing and banks difficulty in lending. In the near future, the Financial Supervision Administration will hold a special meeting to make arrangements. The Financial Supervision Administration hopes to achieve the following three goals: First, direct access to the grassroots. Low-cost credit funds should be directly delivered to the grassroots, opening up the "last mile" of benefiting enterprises and the people. Second, fast and convenient. In principle, banks should make a decision on whether to grant credit within one month. For qualified enterprises, banks should open up green channels, optimize processes, and speed up processing. Third, the interest rate is appropriate. By saving information collection costs, reducing intermediate links, reducing lending costs and additional fees, the overall financing cost of small and micro enterprises can be reduced.At the close of the morning session, the main domestic futures contracts rose more than fell, with the European container shipping line rising by more than 14%, alumina rising by more than 6%, glass rising by more than 5%, soda ash rising by more than 3%, caustic soda and iron ore rising by nearly 3%, BR rubber, No. 20 rubber, rubber, coke, palm oil, hot-rolled coil, and coking coal rising by more than 2%. In terms of decline, low sulfur fuel oil (LU) fell by more than 1%.Futures news on October 14, on October 14, Luan steel and building materials prices were adjusted as follows: 1. Rebar fell by 30 yuan/ton, and the current listing price of Φ18mmHRB400E rebar is 3780 yuan/ton; 2. Coil fell by 50 yuan/ton, and the current listing price of Φ8-10mmHRB400E coil is 3980 yuan/ton; 3. Wire rod fell by 50 yuan/ton, and the current listing price of Φ8-12mmHPB300 wire rod is 3940 yuan/ton.

Tumbling bitcoin overshadows El Salvador’s crypto conference

Skylar Shaw

Nov 18, 2022 16:27

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The eagerly anticipated bitcoin conference in El Salvador, which was in the spotlight in 2021 after the small country became the first in the world to accept cryptocurrencies as legal tender, has lost its shine this time around due to a severe downturn in the world of digital currencies.


At the "Adopting Bitcoin: A Lightning Summit in El Salvador," which started on Tuesday and finishes on Thursday in the nation's capital of San Salvador, it was clear that prominent figures from the bitcoin community were missing, as were the vacant chairs.


Juan Fonseca, a 41-year-old Guatemalan who attended the conference, stated that the low pricing and other concerns create an uneasy environment.


Like other cryptocurrencies, bitcoin experienced a steep decline over the course of the year as investors fled riskier investments in response to U.S. Federal Reserve interest rate hikes and extremely high inflation.


Following the remarkable collapse of cryptocurrency exchange FTX, which is now trading around $16,600 from an all-time high of around $69,000 in November last year, Bitcoin, the biggest and best-known cryptocurrency in the world, has fallen even more.


Some enthusiasts consider the issues of today to be merely a passing phase.


Bitcoin exchange According to Paolo Ardoino, chief technical officer of the company, "Bitfinex will step up efforts to create a free, unstoppable, resilient, and open bitcoin and technological infrastructure for El Salvador."


The parent company of Bitfinex, Ifinex, has committed to assist with El Salvador's government to develop a framework for regulating digital assets and securities.


"El Salvador will emerge as Central America's financial and technological hub. After talking with El Salvador's president, Nayib Bukele, Ardoino stated that the noise wouldn't keep the builders from working.


The cryptocurrency will be accepted as legal tender alongside the dollar, according to Bukele, who announced on Twitter on Wednesday night that "we are buying one Bitcoin every day starting tomorrow."


According to unofficial calculations, his administration has so far purchased 2,381 bitcoins for a total of around $107 million.