S&P releases average consensus forecasts from 38 different brokers each month. The biggest cut to expectations was for uranium. As of October 29, forecast uranium prices for 2022 were down 7.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 slightly lower in early U.S. trading Monday, on routinedownside corrections after recent gains. The precious metals bulls still have someupside momentum. December gold was las...Read More
* Currencies tread water ahead of U.S. CPI data* Bitcoin, ether scale record highsNEW YORK, Nov 9 (Reuters) - The dollar index was barely higher on Tuesday as traders were cautious a day ahead of highly anticipated U.S. inflation data.The dollar zig-zagged after Tuesday's data showed U.S. producer prices increased solidly in October, indicating that high inflation could persist for a while amid ti...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 is trading pretty much flat leading into the Europen open. The yellow metal is trading at $1823/oz while silver (-0.20%) is holding at $24.37/oz. In the rest of the commodities complex, copper (-0...Read More
By Peter HobsonLONDON, Nov 8 (Reuters) - The United Arab Emirates will require all gold refineries to undergo annual audits to ensure their suppliers are responsible, it told Reuters, in an effort to combat illicit trading.Industry figures said this should raise standards in the UAE, one of the world's biggest bullion trade hubs, but may also shift flows of gold linked to crime or human rights abu...Read More
ReutersNIAMEY, Nov 8 (Reuters) - At least 18 people were killed on Sunday in an artisanal gold mine collapse in southern Niger, the local mayor said on Monday.The disaster took place in the southern Maradi region, near the border with Nigeria. The death toll is likely to rise, said Adamou Guero, mayor of the commune of Dan Issa."When we arrived at the site yesterday, people were still searching fo...Read More
An overview of the chrome ore and alloy markets and their latest price moves in Asia, Europe and the United States on Tuesday November 9.China The domestic spot ferro-chrome market weakened with suppliers lowering their offer prices in an attempt to profitably destock. The weaker ferro-chrome spot market also fed into the imported charge chrome market However, Taiyuan Iron & Steel (Tisco) and...Read More
ReutersLONDON, Nov 8 (Reuters) - Bank of England Governor Andrew Bailey said on Monday that the rise of crypto assets was helping illegal activity."I'm afraid that the advent of digital means of payment, and in particular crypto assets, I'm afraid that the evidence suggests, and we see this, is that it is providing another means of payment for people who want to conduct criminal activity," Bailey...Read More
* U.S. CPI data due on Wednesday* U.S. yields slip, dollar weakensNov 9 (Reuters) - Gold prices held near a two-month high on Tuesday, drawing support from lower U.S. yields in the run-up to data that could shed more light on the U.S. inflation picture.Spot gold inched up 0.05% to $1,825.25 per ounce by 1334 GMT, around $2 shy of its Sept. 7 high. U.S. gold futures for December delivery gained 0.0...Read More
Alumina export volumes from Brazil increased by 84.73% in October 2021 compared with the corresponding month in 2020, with both the Alunorte and Alumar refineries shipping more material, according to data published by the coutnry's ministry of economy on Monday November 8.Brazilian alumina exports totaled 901,012 tonnes in October, a significant rise from 487,742 tonnes a year before.Cargoes shipp...Read More
(Reuters) -U.S. stock indexes were set to open mixed on Tuesday after data showed a solid rise in producer prices last month, while General Electric surged on its plan to split into three public companies.Data from the Labor Department showed U.S. producer prices increased sharply in October, indicating that high inflation could persist for a while amid tight supply chains related to the pandemic....Read More
China will ban the creation of additional capacity for some energy-intensive industries - including for steel, coke, alumina and aluminium - in a bid to control pollution, the state council said in a guideline issued on Sunday November 7.The guideline did not specify the areas to be subject to the ban or the date that the measures will take effect.This comes alongside the statement that the supply...Read More
LONDON, Nov 9 (Reuters) - Britain's economy risks stagnation and sticky inflation over the coming years due to persistent supply-chain bottlenecks and headwinds from Brexit, the National Institute of Economic and Social Research (NIESR) think tank warned on Tuesday.Inflation is on course to hit around 5% next year, while Britain's economy looks set to grow by only 1.7% in 2023 and 1.3% in 2024 aft...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
FRANKFURT (Reuters) - Euro zone inflation is likely to fall back below 2% late next year but the European Central Bank should prepare for a less benign scenario, avoiding long policy commitments as upside risks dominate, Dutch policymaker Klaas Knot said on Tuesday.Inflation rose above 4% last month, more than twice the ECB's 2% target. But the bank has pushed back on calls for tighter policy, arg...Read More
Canada's First Cobalt Corp will expand its Ontario facilities to produce a range of precursor battery materials and to recycle lithium-ion batteries, it said.The Toronto-listed cobalt producer, which is North America's only cobalt refinery, also plans - subject to shareholder approval - to change its name to Electra Battery Materials to better reflect its new strategy, it also said. First Co...Read More
Mexican ferrous scrap prices were little changed in the week ended Friday November 5, with buyers passing on minor price adjustments to certain grades.Scrap sellers were putting strong pressure on clients, trying to apply price increases after the United States market reached settlements for November with increases of $20 per gross ton in prime scrap grades, and $40-60 per gross ton on most obsole...Read More
Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry," carbon specialist and Keops Consulting founder Milena L??pez told...Read More
Denis Reuter, chief operating officer of major German recycler TSR, has been appointed as president of the Bureau of International Recycling's (BIR) ferrous division.Reuter succeeds outgoing president Gregory Schnitzer of Sims Metal Management, who had been appointed to the post in November 2018.In his capacity as division president, Reuter will become a member of the BIR executive committee and w...Read More
"Supporting Northwestern Ontario's entrepreneurs, business owners and non-profit organizations has never been more important," said Greg Rickford, Minister of Northern Development, Mines, Natural Resources and Forestry. "Business growth is key to healthy regional economies and communities. With this funding, our government continues to strengthen economic diversification and job creation across th...Read More