1 . President Biden Nominates Jerome Powell to Serve as Chair of the Federal Reserve

Nov 23 ,2021

President Joe Biden has nominated Jerome Powell for a second term as chairman of the US Federal Reserve. Since the outbreak of the Covid-19 epidemic, Powell has received accolades from investors. He persuaded the Fed to use all of its resources to avert a financial crisis and support the economy. He also got his colleagues' support for a plan to revamp the central bank's monetary framework. Instead of hiking interest rates as soon as inflation exceeded the Fed's 2% objective, the Fed might run the economy hot to assist repair the labour market.

Source: BBC

2 .Fed members ready to raise interest rates if inflation continues to run high

Nov 25 ,2021

Officials from the Federal Reserve expressed concern about inflation at their meeting earlier this month, and suggested they might be inclined to hike interest rates if prices continue to rise. The Fed's interest-rate-setting committee revealed minutes from its November meeting on Wednesday, in which it first hinted that it would be scaling back all of the economic assistance it has provided during the pandemic. According to the meeting summary, there was a robust discussion about inflation, with members emphasising their preparedness to act if conditions worsen.

Source: CNBC

3 .ECB expected to raise inflation forecast again

Nov 25 ,2021

The ECB's October meeting minutes didn't reveal any major surprises, but it's worth noting that it now considers the prospect of higher medium-term inflation, demanding "sufficient optionality in the calibration of its monetary policy measures." It's worth noting that the ECB now considers the possibility that energy prices would remain higher as a result of the 'green transition.' At the same time, the Council believes that higher wage growth and inflation expectations are required for a long-term upward trend in inflation. As there is still some slack in the labor market that could still take some time to materialize.

Source: Financial

4 .Peru communities resolute on mine shutdowns despite government shift

Nov 25 ,2021

President Pedro Castillo was elected in July with the support of disadvantaged communities who claim that the mines have deprived them of adequate water sources and who he promised more benefits to. Communities in Peru's Ayacucho area warn they will resume protests against the mining industry if it fails to comply with a mine closure deal. Peru is the world's second-largest copper and silver producer. The villages began a wave of protests earlier this month and announced on Thursday that they would renew their actions unless the administration adhered to the shutdown plans.

Source: Mining.com

5 .Indonesia may stop tin exports in 2024, president says

Nov 24 ,2021

President Joko Widodo indicated on Wednesday that Indonesia may stop exporting tin in 2024 as part of attempts to encourage investment into the resource processing industry and restore the country's external balance. He used the example of banning nickel ore exports to attract investment in the manufacturing of electric vehicle batteries as an example of efforts to restrict raw commodity exports and attract investment in downstream industries to improve Indonesia's trade and current account balances.

Source: Mining.com

6 .Global primary aluminum output rises to 5.689 mln T in Oct –IAI

Nov 22 ,2021

The International Aluminium Institute (IAI) said on Monday that global primary aluminium output increased 1.2 percent year on year to 5.689 million tonnes in October. According to the IAI, Chinese production was 3.270 million tonnes in October, up from 3.250 million tonnes the previous month.

Source: Reuters

7 .Glencore Zinc plant maintenance plan fuels supply fears

Nov 23 ,2021

After Glencore announced plans to put its zinc sulphide plants in Italy on hold for maintenance, Shanghai zinc prices gained support amid global supply concerns. The zinc factory in Portovesme, with a capacity of 100,000 tonnes per year, would be put on care and maintenance until "a meaningful change in power market pricing," according to Glencore.

Source: Reuters

8 .Global World Refined Market Showed 52,000 Tonnes Surplus in Aug

Nov 22 ,2021

According to the International Copper Study Group (ICSG), the global world refined copper market showed a 52,000-tonne surplus in August, compared to a 39,000-tonne deficit in July. According to the ICSG, the market was in a 107,000-tonne deficit in the first eight months of this year, compared to a 97,000-tonne shortfall a year ago. In August, global refined copper output was 2.09 million tonnes, compared to 2.04 million tonnes of consumption. However, the downside is expected to be limited, thanks to China's efforts to boost its cash-strapped property sector and concerns about global supply constraints.

Source: Reuters