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) - Bitcoin-U.S. dollar are higherin early U.S. trading Friday. Bulls are keeping alive a price uptrend in placeon the daily bar chart. They have to defend this week's low, as a drop belowthat key chart su...Read More
Nomad will make up-front cash payments of $95 million for 5.938% of gold production attributed to Orion's 40% interest in the mine until 120,333 ounces have been delivered, and 3.958% thereafter.Read More
ROME, Oct 29 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday said she still sees inflation as a temporary result of severe supply chain bottlenecks, and expects price increases to normalize during 2022 as people get back to work and demand shifts back to services."As demand shifts back to services and supply has a chance to adjust, I believe that price increases will normalize and we'll...Read More
Key data from Fastmarkets' pricing sessions in Europe, China and the United States on Friday October 29.China The price of ferro-silicon in China continued to narrow downward following deceasing futures, with many market participants taking a wait-and-see attitude. Even though the overall power supply situation is not as tight as before, the spot price remains supported...Read More
Finally,November is here, and the initial setup for the first week will be challenging,especially for the Gold market. We expect the Federal Reserve to acknowledgethe effectiveness of the QE program since the pandemic started, and with Covidcases declining, there will now be a need to taper. They will reduce assetpurchases by $15 billion each month, effectively taking it to zero by June,when their...Read More
A summary of production figures and financial results for Chilean state-owned copper producer Codelco in the first nine months of 2021, as stated in its earnings report released on Friday October 29.In brief Higher copper content in mined ore in the year to date offset a strike at the Andina division from August through September, boosting overall copper production in the first nine months of 2021...Read More
Copper smelters returned to the spot market this week with treatment and refining charges (TC/RC) relatively stable.For smelter purchases, clean tonnages for shipment in the fourth quarter and in January were seen with TCs in the low $60s. One extra clean cargo sold in the high $50s, while a lower-grade cargo of...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) -Cameco (TSX: CCO; NYSE: CCJ) said today it had a net loss of$72 million in Q3. The Canadian uranium giant said it has a strong balancesheet. As of September 30, 2021, it had $1.4 billion in cash and sho...Read More
NEW YORK, Oct 29 (Reuters) - The U.S. Treasury Department is expected to reduce the size of its upcoming auctions when it announces its funding plan for the coming quarter on Monday, the first step in lowering debt supply as the federal government moves past its emergency-level response to the coronavirus pandemic.The move, which is well anticipated on Wall Street, will likely total an $800 billio...Read More
The price of silicon in China has dropped several times over recent weeks, after setting a then-record price of $9,000-10,000 per tonne on September 24. Downstream demand then fell through October, clouding market confidence, and offer prices went lower and lower.Fastmarkets' weekly price assessment for silicon, export, 98.5% Si min, fob China, dropped to $5,000-5,500 per tonne on Friday October 2...Read More
Silicon prices in the United States reached a new all-time high on Thursday October 28, making the price for US material - which has almost tripled in seven weeks - now the most expensive in the world. The US price for standard grade silicon (5-5-3) surpassed that in Europe, which had been the most expensive region prior to Fastmarkets' assessment there on Friday October 29.Fastmarkets assessed th...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) -Rio Tinto announced yesterdaythat its entire 2021 Once in a Blue Moon Tender collection of 41 lots ofcarefully curated Argyle blue and violet diamonds, has been won by a singlebidder, the Hong Kong fanc...Read More
Copper smelters returned to the spot market this week with treatment and refining charges (TC/RC) relatively stable.For smelter purchases, clean tonnages for shipment in the fourth quarter and in January were seen with TCs in the low $60s. One extra clean cargo sold in the high $50s, while a lower-grade cargo of...Read More
ROME, Oct 29 (Reuters) - Finance and health ministers from the world's 20 biggest economies (G20) said on Friday they would take steps to ensure 70% of the world's population is vaccinated against COVID-19 by mid-2022 and created a task force to fight future pandemics.They could not reach agreement on a separate financing facility proposed by the United States and Indonesia, but said the task forc...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) -Yesterday, African Gold Group(TSX-V: AGG) announced that the Ministry of Environmental and SustainableDevelopment of the Republic of Mali has approved the Environmental and SocialImpact Assessment ("ESI...Read More
The price of UK inter-merchant light-iron steel scrap narrowed on Friday October 29 with the domestic and export markets remaining strong, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant UK, was ?185-195 ($255-268) per tonne on Friday, narrowing from ?175-195 per tonne the week before."It's quite busy. There is a lot...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) -Impala Platinum (JSE: IMP,Implats), a leading producer of platinum group metals, announced today that inSeptember quarter 2021, its total 6E PGM concentrate volumes decreased 6% to809,000 ounces, with a...Read More
Global ferrous scrap prices showed varying fortunes in the week ended Friday October 29, with Turkey, India and the United States all reporting stability or prices increases, while the markets in Taiwan, Vietnam and China all weakened.?EUR?Turkish scrap prices remain steady on public holiday?EUR?US export prices rise on tight domestic market?EUR?Vietnam prices affected by falling Chinese market?EU...Read More
WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell, in a high-profile speech in August, outlined the arguments for why the current bout of high U.S. inflation will be "transitory," and moderate on its own over time.New data released on Friday show the jury is still out, with the personal consumption expenditures price index rising in September at a 4.4% annual rate versus 4.2% in August, c...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) - According to data releasedtoday by Statistics Canada (StatCan), Canada's real gross domestic product(GDP) rose 0.4% in August, led by increases in accommodation and food services,retail trade and trans...Read More