US debt ceiling deadline overshadows the market

摘要

At LME week, major discussions have focussed around the LME's upcoming warehouse proposal and its impact on premiums and prices over the coming year, while producer supply discipline has also been a major talking point with CRU. The impending debt ceiling deadline on 17th October is also concerning the market and its economic impact could be catastrophic if the USA defaults on its debt. CRU believes common sense will finally prevail and an agreement will be reached by US politicians, although it could go to the wire.