Citi Says Middle East Supply Recovery Expectations Are Overstated After Weak U.S. Jobs Data

Weak U.S. employment data surprised markets and eased expectations for further Federal Reserve rate hikes. According to ChainCatcher, the update was reported by Jin10. Citibank said expectations for a recovery in Middle East supply have been “overstated.” The bank also noted that aluminum futures on the London Metal Exchange rose, and said the duration of any “breathing window” for industrial metals remains uncertain.