Metals News
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A giant state-owned Chinese commodities trader is nursing losses after a shipment of copper from Russia worth nearly $20 million went missing, reigniting fears over fraud in the often secretive market for buying and selling raw materials. Wuchan Zhongda Group Co., which had sales of 580 billion yuan ($80 billion) in 2023, bought 2,000 tons of refined copper ...
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Commodity trading house Gerald Group said it paid almost $49 million for tin that turned out not to be tin. Gerald Group made a provision of $37.3 million in its 2023 financial accounts after the deal to buy Brazilian tin went awry, according to a note in its 2022 accounts filed at the UK’s Companies House. The firm has started investigations and engaged ...
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A lot has happened to the economy since COVID struck, and reading the economic tea leaves has become more difficult. Many of the gains for many Australians in 2020 and 2021 were artificial and didn’t last. The COVID Supplement temporarily doubled JobSeeker, for example. JobKeeper paid workers what their employers could not. As these measures have been ...
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post: MORE FED'S POWELL Q&A: IN HOUSING, FOUND THERE ARE 'BIT LAGS' IN DATA THAT MAY TAKE 'SEVERAL YEARS' BEFORE IMPROVEMENTS SHOW UP #Powell #FOMC #FederalReserve post: MORE FED'S POWELL Q&A: CREDIT CARD DEFAULTS GOING UP BUT NOT AT HIGH LEVEL; HOUSEHOLD IN PRETTY GOOD SHAPE BUT NOT AS GOOD AS LAST COUPLE YEARS #Powell #FOMC #FederalReserve post: POWELL: IF WE SEE UNEMPLOYMENT MORE THAN WE FORECAST, WE WOULD VIEW THAT AS UNEXPECTED WEAKENING post: Fed’s Powell: For Fed the dollar is “just another financial variable,” the currency has been strong but “we don’t think of it as benefitting or hurting the U.S.”
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As President Biden and Group of Seven (G7) Leaders prepare to meet this week in Italy, the U.S. Department of the Treasury is issuing sweeping new measures guided by G7 commitments to intensify the pressure on Russia for its continued cruel and unprovoked war against Ukraine. Today’s actions ratchet up the risk of secondary sanctions for foreign financial ...
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A giant state-owned Chinese commodities trader is nursing losses after a shipment of copper from Russia worth nearly $20 million went missing, reigniting fears over fraud in the often secretive market for buying and selling raw materials. Wuchan Zhongda Group Co., which had sales of 580 billion yuan ($80 billion) in 2023, bought 2,000 tons of refined copper ...
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The Federal Reserve on Wednesday kept its key interest rate unchanged and signaled that just one cut is expected before the end of the year. With markets hoping for a more ...
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Markets took back about half of this morning’s post-CPI rally (recap here) as the full set of FOMC communications worked through. Some of that cheapening occurred in response to ...
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China's consumer prices gained for the fourth straight month in May in the latest sign of a steady domestic demand recovery, official data showed Wednesday. The consumer price ...
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In conjunction with the Federal Open Market Committee (FOMC) meeting held on June 11–12, 2024, meeting participants submitted their projections of the most likely outcomes for real gross domestic product (GDP) growth, the unemployment rate, and inflation for each year from 2024 to 2026 and over the longer run. Each participant’s projections were based on information available at the time of the meeting, together with her or his assessment of appropriate monetary policy—including a path for the federal funds rate and its longer-run value—and assumptions about other factors likely to affect economic outcomes. The longer-run projections represent each participant’s assessment of the value to which each variable would be expected to converge, over time, under appropriate monetary policy and in the absence of further shocks to the economy. “Appropriate monetary policy” is defined as the future path of policy that each participant deems most likely to foster outcomes for economic activity and inflation that best satisfy his or her individual interpretation of the statutory mandate to promote maximum employment and price stability. post: FED’S MEDIAN RATE FORECAST END-’24 AT 5.1%; PREV. 4.6% FED’S MEDIAN RATE FORECAST END-’25 AT 4.1%; PREV. 3.9% FED’S MEDIAN RATE FORECAST END-’26 AT 3.1%; PREV. 3.1% FED’S MEDIAN RATE FORECAST LONGER-RUN AT 2.8%; PREV. 2.6% post: FED POLICYMAKERS SEE END-2024 PCE INFLATION AT 2.6% VERSUS 2.4% IN MARCH PROJECTION; CORE SEEN AT 2.8% VERSUS 2.6% post: FED OFFICIALS RAISE 2024 INFLATION FORECAST TO 2.6%, UP FROM 2.4% IN MARCH FORECAST FED OFFICIALS SEE 4% UNEMPLOYMENT AT END OF 2024, UNCHANGED FROM MARCH FORECAST FED OFFICIALS SEE 2.1% GDP GROWTH IN 2024, UNCHANGED FROM MARCH FORECAST
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post: POWELL: WE THINK POLICY IS RESTRICTIVE AND ULTIMATELY, EVENTUALLY YOU WILL SEE WEAKENING IN ECONOMY POWELL: NO ONE HAS RATE HIKES AS BASE CASE post: POWELL: BANKING SYSTEM HAS BEEN SOLID, STRONG, WELL-CAPITALIZED post: MORE FED'S POWELL Q&A: ULTIMATELY EXPECT RATES WILL HAVE TO COME DOWN, NOT UP, AND CURRENT POLICY SEEMS TO BE MOVING TOWARD THAT #Powell #FOMC #FederalReserve post: POWELL: THERE’S BEEN A SURPRISING INCREASE IN IMPORT PRICES ON GOODS post: POWELL: WAGES ARE STILL RUNNING ABOVE A SUSTAINABLE PATH POWELL: OVERALL THOUGH INFLATIONARY PRESSURES HAVE COME DOWN
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post: MORE FED'S POWELL Q&A: IN HOUSING, FOUND THERE ARE 'BIT LAGS' IN DATA THAT MAY TAKE 'SEVERAL YEARS' BEFORE IMPROVEMENTS SHOW UP #Powell #FOMC #FederalReserve post: MORE FED'S POWELL Q&A: CREDIT CARD DEFAULTS GOING UP BUT NOT AT HIGH LEVEL; HOUSEHOLD IN PRETTY GOOD SHAPE BUT NOT AS GOOD AS LAST COUPLE YEARS #Powell #FOMC #FederalReserve post: POWELL: IF WE SEE UNEMPLOYMENT MORE THAN WE FORECAST, WE WOULD VIEW THAT AS UNEXPECTED WEAKENING post: Fed’s Powell: For Fed the dollar is “just another financial variable,” the currency has been strong but “we don’t think of it as benefitting or hurting the U.S.”
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The quotes of XAG/USD continue to move as part of the development of the correction and the formation of the “Wedge” reversal pattern. At the time of publication of the forecast, prices for Silver are 29.35. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a ...
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video Gold got a strong start on Wednesday, reaching a high of 2,342 before sellers took back control. Much of the day’s range was retraced at the time of this writing. It looks like gold may close in the lower quarter of the day’s range. That would not be a sign of strength, especially after testing resistance around the 50-Day MA earlier in today’s ...
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In response to increasing investor demand for more cost-effective trading solutions, FP Markets, a global multi-asset Forex and CFD broker, has further reduced its spreads across various trading instruments. Christodoulos Psomas, Head of Risk at FP Markets, expressed his enthusiasm for the move and commented: ‘Through the continuous optimisation of our ...