Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Harmony Gold (NYSE: HMY) reported today that its September quarter 2021 (Q3 2021) gold production of 413,714 oz was 32% higher than a year ago (Q3 2020: 313,725 oz), primarily due to improved productio...Read More

Nov 11 (Reuters) - Oil prices drifted lower on Thursday, as the market grappled with concern over increasing U.S. inflation, and after OPEC cut its 2021 oil demand forecast due to high prices.Brent crude futures were down 46 cents to $82.19 a barrel by 12:24 p.m. EDT (1724 GMT) after falling earlier to $81.66. U.S. West Texas Intermediate (WTI) futures were down 50 cents to $80.84 after hitting a...Read More

Nickel, a key raw material in lithium-ion batteries used in electric vehicles (EVs), has gradually grown its market share amid a global shift away from fossil fuels.But with lithium iron phosphate (LFP) batteries making a comeback in the EV market in China, a shadow is being cast on the growth potential for nickel consumption in 2022.The stainless steel market, which accounts for approximately 90%...Read More

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) -Gold and silver prices are higher and near this week's multi-month highs in earlyU.S. trading Thursday. Traders and investors are scrambling to get on boardwith hard assets like the precious metals, on...Read More

BRUSSELS (Reuters) - The euro zone economy will grow faster than previously expected this year as it recovers from the pandemic-induced recession and continue to expand strongly in 2022 with deficits and public debt falling, the European Commission forecast on Thursday.The Commission said gross domestic product in the 19 countries sharing the euro would grow 5.0% this year after a 6.4% recession i...Read More

Chinese exporters of ammonium paratungstate (APT) tried to hold their offers firm this past week, despite the overall export market being inactive and domestic prices in China falling, according to sources.Fastmarkets' weekly price assessment for tungsten APT 88.5% WO3 min, fob main ports China was $313-319 per metric tonne unit (mtu) on Wednesday November 10, widening downward by $2 per mtu from...Read More

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - (Reuters) Gold Fields Ltd recorded a 9% increase in gold production for the third quarter that ended September from a year earlier, but its cost of production increased, the South Africa-based miner sa...Read More

* U.S. CPI rises at fastest pace in 31 years* Market is spooked by inflation data - analyst* Silvers hits more than 3-month highNov 11 (Reuters) - Gold prices neared the five-month high they touched in the previous session after data showing U.S. consumer prices surged last month prompted a rush into the precious metal seen as a hedge against inflation.Spot gold rose 0.6% to $1,861.46 per ounce by...Read More

The gap between spot prices for ferro-chrome in China and major stainless steel mills' November tender prices narrowed in the past week, with the former sliding further on destocking pressure while contract buyers showed more willingness to pay more to secure their feedstock.Taiyuan Iron & Steel Group (Tisco) and the Baosteel Group both raised their November tender prices for high-carbon ferro-chr...Read More

Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More

(Reuters) - Tesla shares advanced in premarket trading on Thursday after filings revealed Chief Executive Officer Elon Musk had sold about $5 billion of the stock over the past few days, following his much-hyped Twitter poll.The electric-car maker's shares climbed 2.7% to $1,097.18, recouping some of the heavy losses suffered earlier in the week.The share sale was his first since 2016 and comes af...Read More

LONDON, Nov 11 (Reuters) - Oil prices dropped to $82 a barrel on Thursday, extending sharp falls triggered by concerns over rising U.S. inflation while OPEC cut its 2021 oil demand forecast due to high energy prices.Brent crude futures lost 52 cents, or 0.63%, to $82.12 a barrel by 1343 GMT after rising to $83.37 in morning trade. U.S. West Texas Intermediate (WTI) futures were down 83 cents, or 1...Read More

Nov 11 (Reuters) - U.S. stock indexes were set to rebound on Thursday from a two-day selloff over signs of prolonged inflation, while Walt Disney Co tumbled as subscriber growth slowed in its streaming video service.The S&P 500 (.SPX) and the Nasdaq (.IXIC) snapped their eight-session run of all-time closing highs earlier this week as investors booked profits from recent gains, while surging p...Read More

China's output and sales of automobiles continued their year-on-year decline in October due to the continuing semiconductor chip shortage, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Wednesday November 10.Automobile output and sales in the country dropped by 8.8% and 9.4% year on year respectively, both to 2.33 million units in October, CAAM dat...Read More

Turkish steel mills were quiet in the deep-sea scrap import markets on Thursday November 11 after booking two cargoes from the Baltic Sea region, sources told Fastmarkets.A steel mill in the Marmara region had booked two Baltic Sea cargoes late on Tuesday November 9 at $497 and $500 per tonne cfr on HMS 1&2 (80:20) basis. Turkish steelmakers required more cargoes for December,...Read More

LONDON (Reuters) - The dollar hit a 16-month high on Thursday and bond market borrowing costs were nudging up again, after the strongest U.S. inflation reading in over three decades fuelled expectations of Federal Reserve interest rate hikes next year.The dollar index, which gauges the currency against six peers including the yen and euro, continued to make steady progress in Europe after Wednesda...Read More

Following yesterday's US PPI print at record highs, overnight we saw Chinese producer prices rising at their fastest pace in 26 years, and this morning's US consumer price data was expected to show yet another non-transitory surge in inflation... but the actual surge was far bigger than expected.US Consumer prices soared 6.2% YoY in October, far higher than the +5.9% YoY expected and acc...Read More

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Gold has managed to keep some of its momentum going after the price rise during yesterday's U.S. session. The price is now hovering around $1854/oz at its highest level since 16th June. Silver is also...Read More

WASHINGTON, Nov 11 (Reuters) - Inflation pushed more broadly through the economy in October again challenging the Federal Reserve's outlook for only "transitory" price increases, offsetting recent wage hikes in a blow to consumers, and prompting investors to boost bets the central bank will raise interest rates sooner than expected.Yields on two-year Treasury notes , a proxy for the outl...Read More

Bangladeshi steelmakers have largely opted to stay away from buying in the scrap import market this week in the hope that prices will continue to fall, sources told Fastmarkets on Thursday November 11.- Bangladesh buyers step back from market - Shredded scrap offers rise to Bangladesh amid strong Pakistan market - Taiwanese consumers continue to bid low Bangladesh There was a lack of import ac...Read More