LONDON, Nov 10 (Reuters) - From oil to currencies to interest rate swaps, one of the world's top investment banks is betting on inflation to be the biggest generator of market returns in 2022.In its widely anticipated top trading ideas for next year, Goldman Sachs recommends buying currencies of countries where policymakers will take a more hawkish approach to inflation as economies struggle to ta...Read More
Spot gold was worth about US$1,850 an ounce at the time of writing, having risen above $1,865/oz earlier.US consumer price index data was at 30-year highs, IG market analyst Kyle Rodda said, and followed higher-than-expected China Produce Prices and CPI data."Everyone, including central bankers, still appears to be underestimating still the inflation pulse," he tweeted."Implied probabilities of Fe...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) -Goldprices are solidly higher and hit a nearly five-month high in early U.S.dealings Wednesday, following a hot U.S. inflation reading. There were also hotinflation numbers coming out of China Wednesday...Read More
The company is in the latter stages of a 15-hole program it began in August.Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Alex Cook...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 lower heading into the European open. The price of the yellow metal has fallen -0.36% to reach $1825/oz. Silver is trading flat at $24.29/oz. In the rest of the commodities complex, cop...Read More
An overview of the consumer electronics markets and their latest price moves on Wednesday November 10.Ruby Liu in...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) -TheU.S. labor market continues to improve albeit at a slower pace than expected.Thursdaythe U.S. Labor Department said that weekly jobless claims fell to a newpandemic low, dropping by 4,000 to 279,000....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) - Pan American Silver (NASDAQ: PAAS) (TSX: PAAS) today reported that in Q3 2021, the company's consolidated silver production was 4.8 million ounces, an increase of 17% compared to Q3 2020.The company al...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 10.Key drivers European ferro-titanium spot prices were unchanged for the fourth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco dragged on longer than expected. There have been no reported spot trades over the week to Wednesday November 10. Market participants expected the settlement...Read More
Exporters of steel scrap from Japan are finding it increasingly difficult to find buyers for their material at acceptable prices, sources told Fastmarkets on Wednesday November 10.Wednesday saw another price decrease at major buyer Tokyo Steel, which will drop its buy prices by ?500 ($4) per tonne across all grades and all works with effect from November 11. This will be the third decrease so far...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) - Today, Newmont (NYSE: NEM, TSX: NGT), the world's largest gold mining company, announced a strategic alliance with Caterpillar, producer of the world's most comprehensive suite of mining equipment and...Read More
Overwhelmingly bearish sentiment pervaded the Asian scrap markets on Wednesday November 10, with buyers exiting the market amid continual price falls; the staple Kanto Tetsugen auction was not awarded due to low bids from traders.November Kanto Tetsugen auction fails to find winnersSentiment in China bearish after a major steelmaker in the country lowers domestic scrap buy priceTaiwanese buyers wa...Read More
Nov 10 (Reuters) - Wall Street's main indexes opened lower on Wednesday as a surge in U.S. consumer prices last month deepened fears that high inflation is here to stay.The Dow Jones Industrial Average fell 20.73 points, or 0.06%, at the open to 36,299.25.The S&P 500 opened lower by 14.99 points, or 0.32%, at 4,670.26, while the Nasdaq Composite dropped 132.70 points, or 0.84%, to 15,753.84 at...Read More
Chile plans to invest $68.93 billion in 51 different mining projects during the years 2021-30, a 6.92% decrease from the $74.05 billion previously expected for 2020-29, national copper commission Cochilco said on Monday November 8.The largest capital expenditures on the list were a $5.57-billion copper reserve replacement at Codelco's El Teniente division, a $5.20-billion copper mining expansion t...Read More
BERLIN, Nov 10 (Reuters) - Germany's federal government finances are in a critical state and the next government must consolidate them, the federal audit office said on Wednesday in a warning shot to parties working to form a ruling coalition who are considering taking on more debt.The centre-left Social Democrats (SPD), the ecologist Greens and the pro-business Free Democrats (FDP) face a massiv...Read More
LONDON (Reuters) - The dollar rose against major peers on Wednesday, ending three days of weakness, after U.S. consumer prices surged to their highest since 1990 and fuelled fears inflation could prove stickier than currently envisaged by the Federal Reserve.In the 12 months through October, the consumer price index accelerated 6.2%. the U.S. Labor Department said on Wednesday, while analysts expe...Read More
SHANGHAI/HONG KONG, Nov 10 (Reuters) - Some bondholders of cash-strapped China Evergrande Group (3333.HK) have not received coupon payments by the end of 30-day grace periods at close of Asia business on Wednesday, sources said, pushing the developer again to the edge of default.Evergrande, the world's most indebted developer which once epitomised a freewheeling era of borrowing and building, has...Read More
Cobalt hydroxide suppliers have made aggressive offers in negotiations for annual long-term contracts, sources told Fastmarkets on the sidelines of the Antaike Nickel & Cobalt conference in Ningbo, China, on November 1-3.Since the annual mating season in 2019, most cobalt hydroxide sellers and buyers have adopted a pricing mechanism for their long-term contracts for the crucial and preferred cobal...Read More
Chinese lithium-ion battery cathode materials producer Beijing Easpring Material Technology has entered into an agreement to set up a plant for cathode active materials (CAM) with Finnish mining and battery projects investor Finnish Minerals Group.Under the agreement, a joint venture will be set up to construct and operate the CAM plant, with the Beijing Easpring controlling a 70% share while its...Read More