China's LandSpace launches improved methane-powered rocket
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Mint
2 hours ago
- Mint
Copper prices linger near multi-month highs on supply crunch, US tariff jitters
SINGORE, - Copper on the London Metal Exchange and the Shanghai Futures Exchange held near the highest levels since late March, driven by concerns over tight regional supply and increased shipments to the U.S. as traders rush to beat potential import tariffs. Three-month copper on the LME was flat at $10,005 per metric ton, as of 0103 GMT, but hovered near its highest point since March 26. The most-traded copper contract on the SHFE gained 0.27% to 80,840 yuan , its strongest level since March 27. "The United States is busy with trade talks with its major trade partners, and may deal with copper import tariff later, and this has been viewed as extra time by the traders to move copper to the United States when the prices over there are much higher," said a Shanghai-based metals analyst from a futures company. U.S. Comex copper futures rose 2% to $5.199 a pound on Wednesday, and the premium against the LME copper futures was 14%. Total copper stocks in LME-registered warehouses remained near their lowest levels since August 2023, despite a slight rebound over two days. Available inventories have dropped 76% since mid-February, as cargoes were rushed to the United States following its investigation into copper imports and the prospect of new tariffs. SHFE lead gained 0.7% to 17,290 yuan a ton, zinc was up 0.7% at 22,370 yuan, nickel advanced 0.6% to 121,550 yuan and aluminium edged 0.2% higher to 20,710 yuan. LME lead gained 0.2% to $2,064.5 a ton, nickel inched up 0.15% to $15,325, tin was up 0.15% at $33,765, and aluminium nudged 0.1% higher to $2,622.5, while zinc eased 0.11% to $2,754.5. For the top stories in metals and other news, click or DATA/EVENTS 0750 France HCOB Services, Composite PMI June 0755 Germany HCOB Services, Composite Final PMI June 0800 EU HCOB Services, Composite Final PMI June 0830 UK Reserve Assets Total June 1230 US Non-Farm Payrolls, Unemployment Rate, Average Earnings YY June 1230 US International Trade $ May 1400 US Factory Orders MM May 1400 US ISM N-Mfg PMI June This article was generated from an automated news agency feed without modifications to text.
Economic Times
3 hours ago
- Economic Times
Gold falls after US-Vietnam trade deal; US payroll data eyed
FUNDAMENTALS Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Gold prices declined on Thursday after a U.S.-Vietnam trade deal eased tensions, while investors awaited the U.S. payroll data later in the day for clues about the Federal Reserve's policy path.* Spot gold lost 0.3% to $3,345.57 per ounce as of 0029 GMT, while U.S. gold futures fell 0.1% to $3,356.60.* The U.S. will impose a lower-than-promised 20% tariff on various goods from Vietnam, President Donald Trump announced on Wednesday. The Southeast Asian nation is the U.S.'s tenth-largest trading partner.* Meanwhile, U.S. and India negotiators pushed to finalise a tariff-reducing deal ahead of Trump's July 9 deadline. However, disagreements around U.S. dairy and agricultural exports remained unresolved, sources familiar with the talks said.* Trump has indicated no signs of extending the negotiation deadline despite stalled discussions with Japan, another key trade partner, but expressed optimism about an India deal.* Data released by ADP showed U.S. private payrolls dropped by 33,000 jobs in June, marking the first decline in more than two years, as economic uncertainty hampered hiring. Meanwhile, low layoffs continued to anchor the labour market.* Investors are now awaiting the non-farm payrolls report on Thursday, which is expected to show an addition of 110,000 jobs in June, down from 139,000 in May, according to a Reuters poll.* The market currently anticipates a 66-basis-point rate cut by the Fed this year between September and December.* Non-yielding gold tends to perform well during economic uncertainty and in a low-interest-rate environment.* Meanwhile, Republicans in the House of Representatives struggled to pass Trump's massive tax cut and spending bill as a handful of hardliners withheld support over concerns about its cost.* Spot silver fell 0.6% to $36.36 per ounce, platinum lost 0.5% to $1,412.13 and palladium shed 0.4% to $1,150.28. DATA/EVENTS (GMT) 0030 Japan JibunBK Comp Op, SVC PMI Final SA June 0145 China Caixin Services PMI June 0750 France HCOB Services, Composite PMI June 0755 Germany HCOB Services, Composite Final PMI June 0800 EU HCOB Services, Composite Final PMI June 0830 UK S&P GLOBAL PMI: COMPOSITE - OUTPUT June 0830 UK Reserve Assets Total June 1230 US Non-Farm Payrolls, Unemployment Rate, Average Earnings YY June 1230 US International Trade $ May 1230 US Initial Jobless Clm 28 June, w/e 1345 US S&P Global Comp, Svcs PMI Final June 1400 US Factory Orders MM May 1400 US ISM N-Mfg PMI June 1430 US EIA-Nat Gas Chg Bcf 27 June, w/e 1430 US Nat Gas-EIA Implied Flow 27 June.
India.com
3 hours ago
- India.com
Big tension for Trump, Putin as China successfully tests hypersonic missile Feitian-2,' it uses atmospheric oxygen for..., is developed by...
As conflicts continue to erupt around the world, every country boosts its defense readiness for the greater threats that are imminent. Every country is arming itself with modern warfare capabilities and advanced weapons to maintain a military advantage in a world where national security is getting increasingly volatile. In what may be a significant breakthrough for hypersonic technology, China has successfully demonstrated a test flight of its Feitian-2 hypersonic vehicle in northwestern China, where it was able to switch between different propulsion modalities in flight — a significant hurdle in the future development of hypersonic vehicles. Who developed the Feitian-2 hypersonic vehicle? The Feitian-2 hypersonic vehicle was developed as a part of the cooperation between Northwestern Polytechnical University (NPU) and the Shaanxi Province Aerospace and Astronautics Propulsion Research Institute, as reported by the Economic Times. The flight is consistent with the advancements made by Feitian-1 when it successfully flew in July 2022 and demonstrates useful data for many physical understandings rich in applications regarding Rocket-Based Combined Cycle (RBCC) engine technology. The flight offers performance parameters that form a useful physical basis for future engineering research on aerodynamics and high-speed propulsion. Top features of Feitian-2 that make it stand out! How atmospheric oxygen helps Feitian-2 The standout feature of Feitian-2 is its Rocket-Based Combined Cycle (RBCC) engine operating on a kerosene and hydrogen peroxide combination. In contrast to traditional hypersonic vehicles, which are fueled by cryogenic fuels such as liquid oxygen, the Feitian-2 craft incorporates atmospheric oxygen for portions of the flight. The use of atmospheric oxygen reduces onboard oxidizers, enhancing fuel efficiency. Feitian-2 different modes The flight experiment with Feitian-2 successfully showed a seamless switch from the first ejector mode, where rockets provide thrust for take-off, to ramjet mode (air-breathing propulsion). This smooth mode switch will be a significant benchmark for sustained hypersonic flight. The engine also showed its variable-geometry intake capability, demonstrating the ability for flow to be controlled automatically in real time. The control of airflow in real-time means that performance can be improved with speed and altitude. This central dynamic feature makes the engine more reliable and the system more efficient with complex flight profiles. How are Feitian-1 and Feitian-2 different? Feitian-2 has several additions as compared to its predecessor, Feitian-1. It features larger tail fins, and new wings just in front of the rocket's nose, improving the stability and maneuverability during high-speed high-altitude flight. Overall, the upgrades will allow for greater aerodynamic control and flight accuracy in more extreme conditions. This test also verified that Feitian-2 can fly autonomously. It was able to alter its angle of attack during flight based on the needs of the mission and the conditions around it. This ability is going to be very important for future unmanned hypersonic systems for both military and scientific missions. Feitian-2 is powered by a kerosene-hydrogen peroxide mixture instead of the traditional cryogenic fuels. While kerosene has less energy even than liquid hydrogen, it is much simpler to store and handle, which leads to a simpler vehicle layout and overcomes the need for heavy cooling systems. Meanwhile, Feitian-1 had previously demonstrated the use of kerosene in hypersonic engines. Moreover, Feitian-2 uses hydrogen peroxide, which is a liquid oxidizer, improving the overall weight of the vehicle while providing stable thrust. This fuel combination may be a factor in the design and operation of hypersonic vehicles in the future. China's recent advances in hypersonic technology are likely causing the US some concern. Although both America and Russia have been trying to develop combined-cycle engines for years, they have had little success. The Feitian-2 testing shows that China is making significant gains in gathering real, valuable data for hypersonic engine design, and they are showing progress in a difficult area that can bring real challenges. The Feitian-2 test flight has elevated China to a competitive status in the world hypersonic technology race by demonstrating its ability to switch between propulsion modes in flight and with an autonomous control structure while actively managing airflow. These advances may have potential uses besides defense, including fast transportation uses and civilian rapid-response systems.
