United Kingdom Balance of Trade

United Kingdom Goods Trade Balance

United Kingdom Industrial Production MoM

United Kingdom GDP MoM

Zinc prices hovered below $3,900 per tonne after pulling back sharply from an over four-year high, amid a broader, sentiment-driven selloff across the base-metals complex. The downturn was triggered by a report that the White House was hesitating over import tariffs on refined copper, prompting traders to unwind bullish positions and take profits. Increased bets on a Federal Reserve rate hike next month also boosted the US dollar, reducing the appeal of dollar-denominated metals, while the prospect of increased Chinese export deliveries to the LME eased some supply concerns. Zinc has surged in recent months amid tightening supply conditions, with production disruptions at several mines, including in China, while the Middle East tensions have restricted Iranian ore shipments. LME warehouse inventories remain low relative to historical levels, while physical availability remains particularly tight outside China. The tightness is also evident in sharply lower smelter treatment charges.

Zinc Holds Decline

The South Korean won traded around 1,346 per dollar, easing slightly but remaining near a two-year high, as surging oil prices lifted demand for the US dollar. Brent crude climbed above $107 per barrel amid escalating US-Iran tensions, raising concerns over higher energy import costs. Additionally, the US 10-year Treasury yield approached 5% as markets raised bets on a Fed rate hike next week following stronger US producer inflation, keeping the dollar elevated ahead of the US CPI report. At the same time, South Korea’s inflation remained above the BOK’s target, with consumer prices rising 3.1% year-on-year in August, while the central bank indicated that the timing and pace of further rate hikes will depend on domestic and external conditions. Meanwhile, exports surged 82.9% year-on-year in the first 10 days of September, with semiconductor shipments jumping 270%, highlighting the strength of Korea’s external trade.

South Korean Won Eases From Near 2-Year High

The Indian rupee fell to around 95.7 per dollar, extending losses for a fourth consecutive session to two-week lows as surging crude oil prices and higher US Treasury yields weighed on the currency. Brent crude climbed nearly 12% this week, approaching $110 a barrel as intensifying Middle East tensions disrupted shipping through the Strait of Hormuz and Red Sea, raising concerns over India’s external balance, growth and inflation. Meanwhile, US Treasury yields rose after stronger-than-expected producer price data lifted expectations of a Federal Reserve rate hike next week, with markets pricing around a 70% chance of an increase and the 10-year yield nearing 5%. The rupee’s decline comes despite recent RBI support, which had helped it strengthen from around 95.70 to a two-month high of 94.30 last week following stronger-than-expected overseas Indian deposit inflows. However, traders said the RBI appears increasingly reluctant to intervene aggressively as external pressures intensify.

Rupee Extends Slide to Two-Week Low

Peru’s trade surplus widened to USD 3,309 million in July 2026 from USD 2,432 million in the same month a year earlier. Exports surged 33.4% year-on-year to USD 10,068 million, driven by higher sales of traditional products (43.6%) and non-traditional products (4.5%), while other products fell 3.4%. Meanwhile, imports grew 32.2% to USD 6,759 million, led by increases in consumer goods (37.1%), supplies (29.0%), and capital goods (43.5%), while imports of other goods plunged 95.9%. Over the first seven months of the year, Peru recorded a trade surplus of USD 26,064 million, expanding sharply from USD 15,738 million in the same period last year. Exports totaled USD 66,506 million, 36.9% higher than a year earlier, while imports amounted to USD 40,441 million, an increase of 23.2%.

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