The price of germanium, a key metal in the semiconductor industry, has reached an all-time high in China.

The price of germanium, a key metal for the semiconductor industry, has reached an all-time high in China. This increase is attributed to speculation regarding the potential for state purchases. Shanghai Metals Market (SMM) data indicates that the price of germanium bars has increased by approximately 30% over the past month, reaching an all-time high of 13,250 yuan ($1,826.48) per kilogram on Wednesday. These price hikes are contrary to expectations that domestic supply would exert downward pressure on local prices, given that germanium prices have increased by 38% since export restrictions were introduced. Industry sources, who have chosen to remain anonymous, suggest that the surge is the result of speculation that the National Food and Strategic Reserves Administration has purchased approximately 100 metric tons of germanium. However, the precise amount paid by the state agency remains undisclosed. The National Food and Strategic Reserves Administration has not yet responded to requests for comment on this matter. Industry sources advise that, while market speculation has contributed to the price spike, a measured approach is needed due to the speculative nature of the information.

https://internasional.kontan.co.id/news/harga-germanium-logam-penting-pembuatan-chip-capai-rekor-tertinggi-di-china
 

Quarterly Revenue Up, Abbott Raises Annual Profit Target.

Abbott Laboratories has increased its annual profit forecast following the announcement of double-digit revenue growth in the second quarter. The company's medical devices unit demonstrated robust performance, with sales increasing by 10.2% to $4.73 billion, exceeding expectations. The demand for medical devices, particularly those used in cardiac procedures, has increased as a result of surgeries that were postponed during the pandemic being rescheduled, particularly among the elderly. Furthermore, sales of glucose monitors have increased due to greater awareness of diabetes care, broader insurance coverage, and a preference for non-invasive devices. For example, sales of Abbott's FreeStyle Libre device increased by 18% to $1.6 billion in the second quarter, with the company forecasting sales of $10 billion by 2028. However, sales in the nutrition business, including infant and adult formula products, fell slightly below expectations at $2.15 billion. Furthermore, sales of diagnostics, including those related to the detection of the novel coronavirus, declined by 5% to $2.20 billion. Notwithstanding the aforementioned, Abbott Laboratories reported quarterly profits that exceeded projections.

https://internasional.kontan.co.id/news/pendapatan-kuartalan-naik-abbott-kerek-target-laba-tahunan

The number of US jobless claims has risen by more than was anticipated.

The weekly jobless claims in the United States increased unexpectedly to 243,000, which was higher than the 229,000 predicted by analysts. This increase signals a deterioration in the labour market. Furthermore, the number of continuous filings for unemployment benefits reached its highest level since November 2021, with 1.87 million claims filed in the week ending 6 July. While some of the rise in claims may be attributed to Hurricane Beryl displacing workers, experts believe that this trend reflects underlying issues in the labour market. Jefferies economist Thomas Simons commented that it is unclear whether this is a sign of a more balanced labour market or the start of a downturn. This negative trend supports the Federal Reserve's proposal to lower interest rates as a means of stimulating the economy.

https://internasional.kontan.co.id/news/klaim-pengangguran-as-naik-lebih-dari-perkiraan