• Home
  • Forums
  • News
  • Calendar
  • Market
  • Login
  • Join
  • 12:28pm
Menu
  • Forums
  • News
  • Calendar
  • Market
  • Login
  • Join
  • 12:28pm
Sister Sites
  • Energy EXCH
  • Crypto Craft
  • Forex Factory
  • Story Log
User Time Action Performed
  • Chilean Copper Giant Codelco to Cut Sales to China Next Year

    From bnnbloomberg.ca

    Codelco is set to cut shipments of refined copper to China next year after extended outages at its smelters and strong demand elsewhere, according to a person familiar with the matter. The Chilean mining giant will reduce shipments to customers under annual contracts for 2023 by around 10%, in line with the decline in its refined metal production, said the person, who asked not to be named discussing commercially sensitive information. But while it historically has also sold a significant volume of metal in shorter-term deals, next year Codelco is likely to make fewer “spot” sales to China as copper usage proves ... (full story)

  • Comments
  • Subscribe
  • New Comment
  •  Guest
  • | IP XX.XXX.101.84
Join MM
    • Older Stories  
    Softer data, slower Fed and more Russian oil

    From business.nab.com.au|Nov 23, 2022

    It’s been a busier day and night than on Tuesday, both in terms of news and market price action, even as the US heads into its Thanksgiving holiday. Tuesday’s ‘Happy (for markets) ...

    BoC's Gov. Macklem: Higher interest rates will take time to spread throughout the economy

    From @financialjuice|Nov 23, 2022

    tweet at 4:35pm: BOC'S GOV. MACKLEM: HIGHER INTEREST RATES WILL TAKE TIME TO SPREAD THROUGHOUT THE ECONOMY. tweet at 4:36pm: BOC'S GOV. MACKLEM: I EXPECT GROWTH TO SLOW IN THE COMING QUARTERS AND ONCE WE GET PAST THIS SLOWDOWN, GROWTH WILL RESUME. tweet at 4:36pm: BOC'S GOV. MACKLEM: WE ARE ATTEMPTING TO STRIKE A BALANCE BETWEEN THE RISKS OF UNDER- AND OVER-TIGHTENING. tweet at 4:38pm: BOC'S GOV. MACKLEM: WITH INFLATION SO FAR ABOVE OUR TARGET, WE ARE ESPECIALLY CONCERNED ABOUT THE RISKS ON THE UPSIDE.

    Macklem: Opening Statement before the House of Commons Standing Committee on Finance

    From bankofcanada.ca|Nov 23, 2022

    Good evening. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our recent policy announcement and the Bank of Canada’s Monetary Policy Report (MPR). In October, we raised the policy interest rate by 50 basis points to 3.75%. This is the sixth consecutive increase since March. We also expect our policy rate will need to rise further. How much further will depend on how monetary policy is working to slow demand, how supply challenges are resolving and how inflation and inflation expectations are responding to this tightening cycle. Our decision reflected several considerations. First, inflation in Canada remains high and broad-based, reflecting large increases in both goods and services prices. Inflation has come down in recent months, but we have yet to see a generalized decline in price pressures. Second, and related, the economy is still in excess demand—it’s overheated. Job vacancies have declined from their peak but remain high, and businesses continue to report widespread labour shortages. Third, higher interest rates are beginning to weigh on growth. This is increasingly evident in interest-rate-sensitive parts of the economy, like housing and spending on big-ticket items. But the effects of higher rates will take time to spread through the economy. Fourth, there are no easy outs to restoring price stability. We need the economy to slow down to rebalance demand and supply and relieve price pressures. We expect growth will stall in the next few quarters—in other words, growth will be close to zero. But once we get through this slowdown, growth will pick up, our economy will grow solidly, and the benefits of low and predictable inflation will be restored. To put this in numbers, growth in gross domestic product (GDP) is projected to decline from about 3¼% this year to just under 1% next year a tweet at 4:32pm: BOC'S GOV. MACKLEM: WE ANTICIPATE THAT OUR POLICY RATE WILL NEED TO BE RAISED FURTHER. tweet at 4:32pm: BOC'S GOV. MACKLEM: HOW FAR POLICY RATES MUST RISE DEPENDS ON HOW WELL MONETARY POLICY IS WORKING TO SLOW DEMAND. tweet at 4:33pm: BOC'S GOV. MACKLEM: IN CANADA, INFLATION REMAINS HIGH AND WIDESPREAD, REFLECTING SIGNIFICANT INCREASES IN BOTH GOODS AND SERVICES PRICES. tweet at 4:34pm: BOC'S GOV. MACKLEM: THE CANADIAN ECONOMY IS STILL OVERHEATED AND IN EXCESS DEMAND.

    •   Newer Stories
    Rise of the Turks

    From andreassteno.substack.com|Nov 23, 2022

    “There’s no problem there” Those were the words of Recep Tayyip Erdogan when asked about the future of the Black Sea Grain Deal: a deal the Russians were extremely dissatisfied ...

    Gold prices push above $1,750 as Fed looks to slow the pace of rate hikes - FOMC minutes

    From kitco.com|Nov 23, 2022|1 comment

    The gold market is trading just off session highs above $1,750 an ounce as the Federal Reserve signals a slower pace of rate hikes through year-end, according to the minutes of ...

    Jibun Bank Flash Japan Composite PMI

    From pmi.spglobal.com|Nov 23, 2022

    Today sees the latest release of the au Jibun Bank Flash Japan Composite PMI®. Published on a monthly basis approximately one week before final PMI data are released, this makes ...

  • More
  • Story Stats
  • Posted: Nov 23, 2022 5:43pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 0  /  Views: 229
  • Related Stories

    China's copper scrap market to remain tight on limited supply
    From miningweekly.com|Nov 24, 2022
    Copper rises as US dollar weakens on Fed rate slowdown prospect
    From nasdaq.com|Nov 24, 2022
    Monthly New Residential Sales, October 2022
    From census.gov|Nov 23, 2022|2 comments
  • More
Top of Page Default Page
  • Facebook
  • Twitter
About MM
  • Mission
  • Products
  • User Guide
  • Blog
  • Contact
MM Products
  • Forums
  • Calendar
  • News
  • Market
MM Website
  • Homepage
  • Search
  • Members
  • Report a Bug
Follow MM
  • Facebook
  • Twitter

MM Sister Sites:

  • Energy EXCH
  • Crypto Craft
  • Forex Factory

Metals Mine™ is a brand of Fair Economy, Inc.

Terms of Service / ©2023