Honda and Amalgam Reveal Limited-Edition RA272 Scale Model
HondaRacing Corporation has teamed up withAmalgam Collectionto honor the 60th anniversary of its firstFormula 1victory with a limited-edition scale model of the iconic RA272 (chassis #103). The original car, driven by Richie Ginther, claimed Honda's debut win at the 1965 Mexico Grand Prix — marking the first F1 victory for a Japanese car, engine and team.
Hand-built by Amalgam's master craftsmen, the model is available in two sizes: a 1:8 scale version limited to just 30 units ($28,995 USD) and a 1:18 scale version limited to 300 units ($1,735 USD). Each piece features over 1,600 precisely engineered parts, including a fully replicated 1.5L V12 engine and comes with a display case, a numbered certificate of authenticity and a commemorative booklet signed by Honda Racing Corporation President Koji Watanabe.
The models will debut at The Quail, A Motorsports Gathering on August 15 duringMonterey Car Weekbefore online sales begin. Built from digital scans of the original RA272 in the Honda Collection Hall in Motegi, Japan, the model captures every authentic detail, down to its painted livery and meticulously replicated engine components. Honda says the RA272 scale model is not just a collectible but 'an invitation to own a piece of our motorsport history.'
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Global Prefabricated Building and Structural Steel Market Size/Share Worth USD 381.8 Billion by 2034 at a 5.5% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value, SWOT)
[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Prefabricated Building and Structural Steel Market size & share revenue was valued at approximately USD 245.7 Billion in 2024 and is expected to reach USD 257.3 Billion in 2025 and is expected to reach around USD 381.8 Billion by 2034, at a CAGR of 5.5% between 2025 and 2034. The key market players listed in the report with their sales, revenues and strategies are Larsen & Toubro Limited, Bechtel Corporation, ArcelorMittal, Baosteel Group, Nucor Corporation, United States Steel Corporation, China State Construction Engineering Corporation (CSCEC), Tata Steel Limited, Steel Dynamics Inc., Hyundai Steel, China Baowu Steel Group Corporation, Schneider Electric, Zamil Steel, Kaiser Aluminum, Cleveland-Cliffs Inc., Vega Structural Systems, BASF SE, Cargill Inc., B Austin, TX, USA, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled 'Prefabricated Building and Structural Steel Market Size, Trends and Insights By Type (Prefabricated Buildings, Structural Steel), By Application (Residential, Commercial, Industrial, Infrastructure), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034' in its research database. 'According to the latest research study, the demand of the global Prefabricated Building and Structural Steel Market size & share was valued at approximately USD 245.7 Billion in 2024 and is expected to reach USD 257.3 Billion in 2025 and is expected to reach a value of around USD 381.8 Billion by 2034, at a compound annual growth rate (CAGR) of about 5.5% during the forecast period 2025 to 2034.' Click Here to Access a Free Sample Report of the Global Prefabricated Building and Structural Steel Market @ Prefabricated Building and Structural Steel Market Overview As per the industry experts at CMI, the prefabricated building and structural steel market is keyed to rapid urbanization, swift infrastructure development, and growing demand for sustainable, cheap, and energy-efficient solutions for construction work. Technological advancements related to steel production and prefabrication, along with government investments in either infrastructure or smart city projects, come forth as additional drivers, presenting several opportunities for growth across the various sectors. Prefabricated Building and Structural Steel Market Growth Factors and Dynamics Urbanization and Infrastructure Development: Urbanization continues apace with the continuous development of infrastructure, mainly in emerging countries such as China, India, and Southeast Asia. These have been the major factors contributing to the growth of this market. Greater cities will see the burgeoning of their populations and always have increasing demands for very efficient construction materials of prefabricated buildings and structural steel. One of these is a large government project, for instance, transportation networks and housing schemes that generate demand for such building materials. As smart cities advance and the global shift toward sustainable urban designs continues, these materials have surpassed traditional methods, becoming the preferred prefabricated solutions for faster construction, high durability, and lower costs. Emerging Technologies: The prefabricated building and structural steel markets are undergoing paradigm changes due to the introduction of such innovative technologies as Building Information Modeling (BIM), automation in fabrication, and 3D printing. These days, all technologies improve accuracy, help save material wastage, simplify production, create deadlines quickly, and reduce costs. Among other benefits, automation in manufacturing provides steel components that are scalable and precision-engineered, so reducing both labor costs and human error. Along with this, adaptability in building design gives optimization in efficiency and flexibility for prefabricated and steel-based construction designs through growing demand. Sustainability and Environmental Regulations: The growing emphasis on sustainability and environmental accountability has become one of the major driving forces for the structural steel market. Steel's recyclability and energy efficiency, along with reduced waste in prefabrication construction, are allied with globis causedal trends in green building practices. The trend of world governments imposing more rigorous environmental regulations is forcing industries to embrace more sustainable construction methods. This shift is, in turn, increasing the demand for sustainable materials like structural steel, as it offers the much-needed strength-to-weight ratio when it comes to putting less pressure on the environment during construction. We expect the residential and commercial sectors to further adopt steel solutions as a result of this trend toward sustainability. Request a Customized Copy of the Prefabricated Building and Structural Steel Market Report @ Fluctuations in Prices of Raw Materials: Fluctuating prices of raw materials remain a serious challenge in the prefabricated building and structural steel market. The volatility of steel prices ensued from the worldwide supply-demand imbalances, trade tariffs, and geopolitical tensions, so that construction costs are affected with the rise in steel prices! More the rise in prices of raw materials leads to higher project expenditures and possible budgetary overruns or extensions in time. Moreover, market players have to ensure that certain cost implications are addressed and a profitable price structure is retained while simultaneously being competitive to their customers. Therefore, the interplay's uncertainty necessitates that firms devise strategies to stabilize costs against fluctuations. Supply Chain Disruptions: Global supply chain disruptions arising out of geopolitical tensions, trade wars, and the residual impacts of the pandemic have affected available materials for prefabrications and structural steel to quite some extent. Such disruptions can delay raw material procurement, escalate freight costs, and pose challenges in meeting construction timelines. In the steel sector, disruptions delay the delivery of steel products assigned for large-scale use, ultimately causing delays in completion and enhanced cost. In addressing these challenges, companies must develop resilient supply chains and adopt a more diversified approach to procurement to prevent risks. Government Policies and Trade Tariffs: Government policies and trade tariffs are key dynamics regulating the prefabricated building and structural steel market. The imposition of tariffs on imported steel has increased prices of steel products, thereby undermining the cost structure of construction projects within the U.S. Conversely, positive government policies such as subsidies for green building schemes and infrastructure investments can support the demand for steel and prefabricated applications. The regulatory environment, including environmental standards and building codes, affects the market environment since construction companies must adhere to these. Report Scope Feature of the Report Details Market Size in 2025 USD 257.3 Billion Projected Market Size in 2034 USD 381.8 Billion Market Size in 2024 USD 245.7 Billion CAGR Growth Rate 5.5% CAGR Base Year 2024 Forecast Period 2025-2034 Key Segment By Type, Application and Region Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America Buying Options Request tailored purchasing options to fulfil your requirements for research. (A free sample of the Prefabricated Building and Structural Steel report is available upon request; please contact us for more information.) Our Free Sample Report Consists of the following: The updated report for 2024 includes an introduction, an overview, and an in-depth industry analysis. We have included the COVID-19 Pandemic Outbreak Impact Analysis in the package. About 220+ Pages Research Report (Including Recent Research) Provide detailed chapter-by-chapter guidance on the Request. Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2025 Includes Tables and figures have been updated. The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis Custom Market Insights (CMI) research methodology (Please note that the sample of the Prefabricated Building and Structural Steel report has been modified to include the COVID-19 impact study prior to delivery.) Request a Customized Copy of the Prefabricated Building and Structural Steel Market Report @ Prefabricated Building and Structural Steel Market SWOT Analysis Strengths: Market strengths in prefabricated buildings and structural steel include significant time and cost savings in construction, as buildings can be constructed off-site and quickly assembled. Structural steel has a combination of strength, durability, and versatility, making it prized for massive infrastructure projects, high-rise buildings, and even the harshest environments. Additionally, other advanced techniques, such as building information modeling (BIM) and various automations in steel fabrication, have enabled accuracy, efficiency, and economics in construction. Growing demand for energy-efficient and sustainable buildings has also spurred growth in the demand for and further application of structural steel in prefabricated solutions, thus gearing the market toward a steady state of growth in the coming years. Weaknesses: The prefabricated building and steel structure market, however, has been under significant stress despite these weaknesses. Raw materials, especially steel, with fluctuating prices, have led to cost unpredictability and affected margins. Supply chain crises like geopolitical tension and global trade disruptions delay project timelines and inflate costs. Prefabricated buildings are cheaper to make but more costly to set up and manufacture. It is also difficult for market players to educate customers on the advantages of prefabrication. Opportunities: The fast ratification of urbanization and infrastructure development from emerging economies within the Asia-Pacific area holds immense promises of growth. Additionally, investment in green building construction is consistently supported by various government sectors worldwide; prefabricated steel buildings align well with greenhouse practices due to their energy efficiency and recyclable properties. Trends emerging for smart cities and resilient infrastructures produce further demand for steel as a construction material. In addition, technology improvements in steel production, such as high-strength and low-alloy steels and corrosion-resistant coatings, offer an area for specialization that caters to applications of increasing reliance, such as aerospace, automotive, and energy. Threats: There are many threats to the market, which could have consequences for its growth too. Fluctuating raw material prices, especially of steel, pose serious threats, as the price changes affect construction costs and reduce company profit margins. Export tariffs, especially on steel imports, raise costs and disrupt supply chains to further complicate dynamics in the market. Competition from other construction materials, such as timber, concrete, and composites, has become another risk to steel's dominance in some applications because they may be cheaper or offer more environmentally friendly options. Economic depressions and recessions pose a real threat to the market. Request a Customized Copy of the Prefabricated Building and Structural Steel Market Report @ Key questions answered in this report: What is the size of the Prefabricated Building and Structural Steel market and what is its expected growth rate? What are the primary driving factors that push the Prefabricated Building and Structural Steel market forward? What are the Prefabricated Building and Structural Steel Industry's top companies? What are the different categories that the Prefabricated Building and Structural Steel Market caters to? What will be the fastest-growing segment or region? In the value chain, what role do essential players play? What is the procedure for getting a free copy of the Prefabricated Building and Structural Steel market sample report and company profiles? Key Offerings: Market Share, Size & Forecast by Revenue | 2025−2034 Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions Competitive Landscape – Top Key Vendors and Other Prominent Vendors Buy this Premium Prefabricated Building and Structural Steel Research Report | Fast Delivery Available - [220+ Pages] @ Prefabricated Building and Structural Steel Market Regional Analysis The Prefabricated Building and Structural Steel Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region: North America, which includes the United States and Canada, is recognized as a strong market for prefabricated buildings and structural steel because of its dominance in major infrastructure projects, urbanization, and the demand for energy-efficient buildings. The construction sector in this part of the world is moving more and more towards modular buildings and steel-frame construction systems as these methods assure cost and sustainability benefits. Also encouraging growth of the market is the advancement in the technicalities of steel production and buildNorth America, which includes the United States and Canada, is recognized as a strong market for prefabricated buildings and structural steel because of its dominance in major infrastructure projects, urbanization, and the demand for energy-efficient and residential sectors. Europe is one of the largest regions for prefabricated buildings and structural steel, with Germany, the UK, and France being key players in promoting innovations in construction techniques. Sustainability and energy efficiency are among the key factors influencing the market. Europe is also seeing an increase in demand for smart-city projects that require resilient, energy-efficient infrastructure built from structural steel. Increased adoption of environment-friendly building practices, coupled with government incentives for green construction, are catalysts for the rise in popularity of prefabricated steel solutions. The EU regulations push forth against waste reduction and energy efficiency, fuelling such efforts. Asia-Pacific: Asia-Pacific is without a doubt the leading region where prefabricated buildings and structural steel are concerned. Rapid industrialization and urbanization are taking place in countries like China, India, and Japan. There are now quite excellent developments in designing infrastructural facilities, including transport, industrial houses and most recently, well-crafted multi-storied residential complexes. The desire for a prefabricated steel building has been triggered by both the scheduled time for construction and reduced costs. The other aspect is the government's major investment in infrastructure development, so that there will be even higher demands on prefabricated buildings and structural steel. In this scenario, China is playing a critical role, as the country's unprecedented range of construction-related needs is massive. LAMEA: The gradual increase in LAMEA has its share of the prefabricated building and structural steel market. Brazil and Argentina are notable Latin American nations starting to experience infrastructure development in energy, transportation, and residential sectors. There is a growing demand in the region of the Middle East, particularly in the UAE, Saudi Arabia, and Qatar, for steel and prefabricated buildings because of major construction infrastructure associated with smart cities, commercial complexes, and highly residential areas. Increasing population in Africa pertains to a growing demand for infrastructure, which offers promising opportunities in the use of steel for both residential and infrastructural construction purposes. Request a Customized Copy of the Prefabricated Building and Structural Steel Market Report @ (We customized your report to meet your specific research requirements. Inquire with our sales team about customizing your report.) Still, Looking for More Information? Do OR Want Data for Inclusion in magazines, case studies, research papers, or Media? Email Directly Here with Detail Information: support@ Browse the full 'Prefabricated Building and Structural Steel Market Size, Trends and Insights By Type (Prefabricated Buildings, Structural Steel), By Application (Residential, Commercial, Industrial, Infrastructure), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034' Report at List of the prominent players in the Prefabricated Building and Structural Steel Market: Larsen & Toubro Limited Bechtel Corporation ArcelorMittal Baosteel Group Nucor Corporation United States Steel Corporation China State Construction Engineering Corporation (CSCEC) Tata Steel Limited Steel Dynamics Inc. Hyundai Steel China Baowu Steel Group Corporation Schneider Electric Zamil Steel Kaiser Aluminum Cleveland-Cliffs Inc. Vega Structural Systems BASF SE Cargill Inc. Buro Happold Foster Wheeler Others Click Here to Access a Free Sample Report of the Global PrefabriThe following is a list of the prominent players in the Market @ Spectacular Deals Comprehensive coverage Maximum number of market tables and figures The subscription-based option is offered. Best price guarantee Free 35% or 60 hours of customization. Free post-sale service assistance. 25% discount on your next purchase. Service guarantees are available. Personalized market brief by author. Browse More Related Reports: Graphene Coating Market: Graphene Coating Market Size, Trends and Insights By Product (Solvent Based, Water Based), By Application (Corrosion-resistant Coating, Scratch-resistant Coating, Anti-Fouling Coating, Flame Retardant Coating, Others), By End Use Industry (Automotive, Aerospace, Electronics, Medical, Marine, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 Low-carbon Methanol Market: Low-carbon Methanol Market Size, Trends and Insights By Type (Biomethanol, E-Methanol), By Production Route (Power to Methanol, Biomethane Reforming, Biomass Gasification, Waste to Methanol), By End-Use (Chemical, Fuel), By Feedstock (Biomass, Carbon Capture & Utilization (CCU), Renewable Hydrogen + CO₂, Natural Gas with Carbon Capture), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025 – 2034 Caustic Soda Flakes Market: Caustic Soda Flakes Market Size, Trends and Insights By Application (Alumina Refining, Pulp and Paper Processing, Textile Processing, Water and Wastewater Treatment, Chemical Manufacturing, Soap and Detergent Production, Petroleum and Gas Processing, Food & Beverage Processing, Pharmaceutical Applications), By Type (Industrial-Grade Caustic Soda Flakes, Food-Grade Caustic Soda Flakes, Pharmaceutical-Grade Caustic Soda Flakes, Technical-Grade Caustic Soda Flakes, Low-Iron/High-Purity Caustic Soda Flakes, Membrane Cell-Based Caustic Soda), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 Green Methanol Market: Green Methanol Market Size, Trends and Insights By Production Method (Biomass-based Methanol, Electrolysis-based Methanol (Green Methanol)), By Application (Transportation, Industrial, Power Generation), By End-User Industry (Shipping and Maritime, Automotive, Chemical and Petrochemical Industries), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 North America Molded Plastics Market: North America Molded Plastics Market Size, Trends and Insights By Type (PE, PP, PVC, PET, PS, PU), By Application (Packaging, Automotive & Transportation, Construction & Infrastructure, Electronics & Electrical, Pharmaceutical, Agriculture), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 Saudi Arabia Structural Steel Market: Saudi Arabia Structural Steel Market Size, Trends and Insights By Product Type (H-Type Beams, I-Type Beams, Columns, Angles), By End-User Industry (Residential, Commercial, Industrial, Institutional), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 Commercial Single-ply Membrane Market: Commercial Single-ply Membrane Market Size, Trends and Insights By Membrane Type (Thermoplastic, TPO, PVC, Others), By Application (Industrial, Commercial, Residential, Institutional), By Installation (Mechanically Attached System, Fully Adhered System, Induction-Welded Roof Installation System), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 US Masterbatch Market: US Masterbatch Market Size, Trends and Insights By Type (White, Black, Color, Additive, Others), By End Use Industry (Packaging, Consumer Goods, Building & Construction, Agriculture, Automotive, Others), By Polymer (Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Others), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 The Prefabricated Building and Structural Steel Market is segmented as follows: By Type Prefabricated Buildings Structural Steel By Application Residential Commercial Industrial Infrastructure Click Here to Get a Free Sample Report of the Global Prefabricated Building and Structural Steel Market @ Regional Coverage: North America U.S. Canada Mexico Rest of North America Europe Germany France U.K. Russia Italy Spain Netherlands Rest of Europe Asia Pacific China Japan India New Zealand Australia South Korea Taiwan Rest of Asia Pacific The Middle East & Africa Saudi Arabia UAE Egypt Kuwait South Africa Rest of the Middle East & Africa Latin America Brazil Argentina Rest of Latin America This Prefabricated Building and Structural Steel Market Research/Analysis Report Contains Answers to the following Questions. Which Trends Are Causing These Developments? Who Are the Global Key Players in This Prefabricated Building and Structural Steel Market? What are Their Company Profile, Product Information, and Contact Information? What Was the Global Market Status of the Prefabricated Building and Structural Steel Market? What Was the Capacity, Production Value, Cost and PROFIT of the Prefabricated Building and Structural Steel Market? What Is the Current Market Status of theThis prefabricated building and structural steel market research and analysis report contains answers to the following questions:ise? What's Market Analysis of Prefabricated Building and Structural Steel Market by Considering Applications and Types? What Are ProjectiWhat are the company profiles, product information, and contact details for these key players?ering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports? What Is Prefabricated Building and Structural Steel Market Chain Analysis by Upstream Raw Materials and Downstream Industry? What Is the Economic Impact On Prefabricated Building and Structural Steel Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends? What Are Market Dynamics of Prefabricated Building and Structural Steel Market? What Are Challenges and Opportunities? What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Prefabricated Building and Structural Steel Industry? Click Here to Access a Free Sample Report of the Global Prefabricated Building and Structural Steel Market @ Reasons to Purchase Prefabricated Building and Structural Steel Market Report Prefabricated Building and Structural Steel Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors. Prefabricated Building and Structural Steel Market report outlines market value (USD) data for each segment and sub-segment. This report indicates the region and segment expected to witness the fastest growth and dominate the market. Prefabricated Building and Structural Steel Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region. The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled. Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players. The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions. Prefabricated Building and Structural Steel Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain. Reasons for the Research Report TThe report includes extensive company profiles, which include company overviews,ed Building and Structural Steel market. Compare your performance to that of the market as a whole. Aim to maintain competitiveness while innovations from established key players fuel market growth. Buy this Premium Prefabricated Building and Structural Steel Research Report | Fast Delivery Available - [220+ Pages] @ What does the report include? Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Prefabricated Building and Structural Steel market analysis. The competitive environment of current and potential participants in the Prefabricated Building and Structural Steel market is covered in the report, as well as those companies' strategic product development ambitions. According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions. For each segment mentioned above, actual market sizes and forecasts have been given. Who should buy this report? Participants and stakeholders worldwide Prefabricated Building and Structural Steel market should find this report useful. The research will be useful to all market participants in the Prefabricated Building and Structural Steel industry. Managers in the Prefabricated Building and Structural Steel sector are interested in publishing up-to-date and projected data about the worldwide Prefabricated Building and Structural Steprovides comparable data for the key atory bodieWe have provided actual market sizes and forecasts for each of the aforementioned Steel products' market trends. Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. Request a Customized Copy of the Prefabricated Building and Structural Steel Market Report @ About Custom Market Insights: Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains. CMI provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey. Follow Us: LinkedIn | Twitter | Facebook | YouTube Contact Us: Joel John CMI Consulting LLC 1333, 701 Tillery Street Unit 12, Austin, TX, Travis, US, 78702 USA: +1 737-734-2707 India: +91 20 46022736 Email: support@ Web: Blog: Blog: Blog: Blog: Buy this Premium Prefabricated Building and Structural Steel Research Report | Fast Delivery Available - [220+ Pages] @ in to access your portfolio
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Gold edges up as investors await US-Russia meeting
Gold (GC=F) Gold prices edged higher on Wednesday morning, buoyed by a softer US dollar following mild US inflation data that solidified expectations for an interest rate cut in September. Meanwhile, market participants looked ahead to this week's high-stakes talks between US and Russian officials regarding the ongoing war in Ukraine. At the time of writing, gold futures rose 0.2% to $3,404.90 per ounce, while spot gold inched up by 0.1% to $3,357.03 per ounce. "The fall in the USD enabled a moderate bounce in the gold price, with the precious metal oscillating around the $3,350 level ahead of the Trump-Putin meeting on Friday," said Tim Waterer, chief market analyst at KCM Trade. Read more: London Stock Exchange open to dual listing of Indian companies, says LSEG boss "If the meeting in Alaska doesn't resolve anything and the war in Ukraine continues, gold could be making a push back towards $3,400 once again," he added. The uptick in gold came as US inflation data, released on Tuesday, showed a modest rise in the Consumer Price Index (CPI), which increased by 0.2% in July, following a 0.3% increase in June. Year-over-year, the CPI was up 2.7%, signalling that inflation pressures are cooling. This data reinforced market expectations that the Federal Reserve may soon cut interest rates, which tends to boost demand for non-yielding assets like gold. The decline in the US dollar supported the precious metal's rise, as a weaker dollar makes gold more affordable for holders of other currencies. Oil (BZ=F, CL=F) Oil prices were lower in early European trading, after industry data revealed an increase in US crude inventories, reinforcing expectations that the peak summer demand season is winding down. Brent (BZ=F) crude futures lost 0.2% to trade at $65.16 per barrel, at the time of writing, while West Texas Intermediate (CL=F) futures retreated by 0.3% to $63.02 a barrel. The US driving season typically runs from Memorial Day weekend in late May through early September, and with the end of summer approaching, demand is expected to taper off. Read more: The most popular stocks and funds investors bought in July Citing figures from the American Petroleum Institute (API), market sources reported that US crude stocks, in the world's largest oil consumer, rose by 1.52 million barrels last week. Gasoline inventories saw a decline, while distillate stocks experienced a slight increase. Oil investors appeared to be in 'wait-and-see mode' ahead of the meeting between US president Donald Trump and Russian president Vladimir Putin, according to ING commodity strategists. "The outcome could remove some of the sanction risk hanging over the market," the ING strategists added. Pound (GBPUSD=X, GBPEUR=X) The pound was higher against the dollar this Wednesday morning and may climb even further as US inflation data reinforced expectations for a Fed rate cut in September. Sterling was up 0.3% to $1.3543 at the time of writing. The US Consumer Price Index (CPI) showed a year-over-year increase of 2.7% in July, matching the previous month's rise and coming in slightly below the anticipated 2.8% gain. Meanwhile, the core CPI, which excludes volatile food and energy prices, rose 3.1% in July, higher than the 2.9% increase seen in June and surpassing the consensus forecast of 3%. Stocks: Create your watchlist and portfolio With these figures in hand, markets are now pricing in around a 94% probability of a Fed rate cut at the September meeting, up from 86% just a day earlier, according to the CME FedWatch tool. Fed governor Michelle Bowman had already signalled last week that three interest rate cuts could be on the horizon for the remainder of the year. The US dollar index ( which measures the greenback against a basket of six currencies, was down 0.3% to 97.81. Elsewhere in currencies, the pound was steady against the euro, trading at €1.1565 at the time of writing. In equities, the FTSE 100 (^FTSE) was higher on Wednesday morning, up 0.4% to 9,182 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
an hour ago
South Korean president will meet Japanese leader ahead of summit with Trump
SEOUL, South Korea -- South Korean President Lee Jae Myung will meet Japanese Prime Minister Shigeru Ishiba in Tokyo next week before flying to Washington for a summit with President Donald Trump, underscoring how Trump's push to reset global trade is drawing the often-feuding neighbors closer. Lee's two-day visit to Japan Aug. 23–24 will be an opportunity to deepen personal ties with Ishiba and put bilateral relations on firmer ground. Their talks will center on strengthening trilateral cooperation with Washington, promoting 'regional peace and stability,' and addressing other international issues, presidential spokesperson Kang Yu-jung said Wednesday. Their meeting will come weeks after South Korea and Japan secured trade deals with Washington that shielded their trade-dependent economies from Trump's highest tariffs. The separate agreements negotiated their rates of reciprocal duties down to 15% from the originally proposed 25%, but only after pledging hundreds of billions of dollars in U.S. investments. Lee and Ishiba previously met on the sidelines of the June G7 meetings in Canada, where they called for building a future-oriented relationship and agreed to cooperate closely on various issues including trade and countering North Korea's nuclear and missile programs. Relations between the two U.S. allies often have been strained in recent years over grievances stemming from Japan's brutal colonization of the Korean Peninsula before the end of World War II. South Korea's previous conservative president, Yoon Suk Yeol, made active efforts to repair ties with Tokyo, including a major compromise on compensation issues related to Korean victims of Japanese wartime slavery, aiming to bolster trilateral security cooperation with Washington against North Korean threats. But Yoon's presidency was cut short by his brief imposition of martial law in December, which led to his ouster and imprisonment, leaving uncertainty over Seoul-Tokyo relations under Lee, who has long accused Japan of clinging to its imperialist past and hindering cooperation. Since taking office in June after winning the early presidential election, Lee has avoided thorny remarks about Japan, instead promoting pragmatism in foreign policy and pledging to strengthen Seoul's alliance with Washington and trilateral cooperation with Tokyo. There also have been calls in South Korea to boost collaboration with Japan in responding to Trump, who has unsettled allies and partners with tariff hikes and demands they reduce reliance on the U.S. while paying more for their own defense. Following his meeting with Ishiba, Lee will travel to Washington for an Aug. 25 summit with Trump, which his office said will focus on trade and defense cooperation. His meeting with Trump comes with concerns in Seoul that the Trump administration could shake up the decades-old alliance by demanding higher payments for the U.S. troop presence in South Korea and possibly move to reduce it as Washington shifts more focus on China.
