Oct 21 (Reuters) - Candy Digital, a non-fungible token (NFT) startup launched by sports merchandise retailer Fanatics, has raised fresh capital at a valuation of $1.5 billion from investors led by Insight Partners and SoftBank Vision Fund 2.An NFT is a kind of crypto asset that records ownership of digital items. Candy Digital is currently building Major League Baseball's (MLB) official NFT ecosys...Read More

* Lira slips more than 2%* Chinese stocks rise, real estate sector gets some relief* Russian rouble hit by new COVID variant, fresh curbs (Updates with Turkey rates)Oct 21 (Reuters) - Turkey's lira slumped to a record low on Thursday after the central bank cut interest rates by twice as much as expected, while most other emerging market currencies fell on concerns over rising global inflation.The...Read More

LAS VEGAS, Oct 21 (Reuters) - Private jet demand has boomed during the pandemic as the wealthy took control of their travel, yet the flight to luxury could have limited runway as some buyers spend beyond their means and the sector presents a prime target for climate critics.Bidding wars for second-hand planes and premiums for early delivery of new ones dominated chatter at the National Business Av...Read More

Iron ore prices were largely down on Thursday October 21, following the bearish mood in terms of steel prices and demand, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.93 per tonne,down $7.14 per tonne62% Fe low-alumina fines, cfr Qingdao:  $118.68 per tonne,down $6.53 per tonne58% Fe fines high-grade premium, cfr Qingdao:  $88.98 per tonne,down $5.99 per tonn...Read More

NEW YORK (Reuters) -Corporate results in the industrial and materials sectors could offer a snapshot of how companies in a key swath of the U.S. economy are dealing with surging inflation, supply chain bottlenecks and higher commodity prices.Companies in those sectors -- which include logistics and transportation firms, major chemical makers and manufacturers and suppliers for the aerospace, autom...Read More

(Reuters) - The Federal Aviation Administration (FAA) said Thursday it was proposing to require flight attendants receive at least 10 hours of rest time between shifts after Congress had directed the action in 2018, according to a document released Thursday.Airlines for America, a trade group representing major carriers including American Airlines, Delta Air Lines, United Airlines and others, had...Read More

Egypt's prices for imported billet and domestic reinforcing bar increased in the week to Thursday October 21, with demand also picking up from previous weeks, sources told Fastmarkets.Local rebar producers increased their prices effective October 20.Buying increased after the price hikes were announced because buyers believed prices could rise further, traders said.On the other hand, the Advanced...Read More

Prices in the Commonwealth of Independent States' export market for steel billet moved up on Thursday October 21 amid rising scrap and domestic billet prices in Turkey, which added to the positive expectations among sellers.Fastmarkets' calculation of its daily index for steel scrap HMS 1&2 (80:20 mix), north Europe origin, cfr Turkey, was $497.04 per tonne on Thursday, unchanged day on day but up...Read More

Reduced operations at steel rerolling mills in several key cities across China have hurt prices for steel billet in China's local and import markets, sources said on Thursday October 21.The northern Chinese steelmaking hub Tangshan ordered rerolling mills in its Fengrun district to suspend production from October 21 to 31 to improve air quality, market participants told Fastmarkets.The production...Read More

Inflation accelerated again in September, and gold prices (finally!) reacted positively. Bad news: the rally was short-lived.Unfortunately, I was right. One month ago, when commenting on the CPI readings for August, I wrote that inflation “doesn’t have to go away anytime soon” and that the economic developments suggest that “inflation isn’t disappearing just yet.&rdqu...Read More

“Gold going nowhere” seems to be a reasonable description of recent price action in the metals markets.Below is a daily chart of GLD for the past year… The price variation from the mid-point (170) of the price range (160-180) is only about 5 1/2 percent – either up or down.For those expecting bigger things, this might trigger some impatience. It might also be disappointin...Read More

What’s the price level exit for theblack gold?The new front month contract (as weswitched now to Dec’21) for WTI Crude Oil futures closed the week at $82 perbarrel on Friday (Oct. 15th).Fundamentally, nothing seems to be able to stop, in the short term, the surge incrude oil prices which continued to rise on Friday amid concerns over supply,since the WTI hit a new high in almost seven...Read More

Mining stocks were picked up byinvestors in the latest bullish wave. But these bad performers may be dumpedjust as quickly as they were bought.After the HUIIndex rallied back above the neckline of its bearish head &shoulders pattern, a new bull market for mining stocks has finally begun. Or has it? Well, after an identicaldevelopment occurred in 2000, the HUI Index soon invalidated the breakou...Read More

Abig week for precious metals markets as inflation pressures push consumer prices to painful new heights.OnThursday, the U.S. Labor Department reported that inflation at the wholesalelevel is up 8.6% from a year ago. That’s the steepest annual advance since thedata started being reported.Ofcourse, Americans who have shopped at a grocery store recently or tried to rentor buy a car don’t...Read More

Copper makes the headlines, but GYX has been bullish all along; gold awaits its time as the message from metals land is bullish, risk ‘on’ and cyclicalWhile copper went through its correction we have been noting each week in NFTRH that the Industrial Metals index, GYX had never aborted its bullish stance. Trends remained up and the index price held the SMA 50’s intermediate trend...Read More

Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.Following more ambitious climate targets by governments, Rio Tinto is revising its emissions reduction targets. Its new target is to reduce its Scope 1 & 2 carbon emissions of the greenhouse gas (GHG) Protocol by 50% by 2030, more than triple...Read More

BMW Group is to source steel from Sweden's H2 Green Steel for its European plants from 2025, the German car manufacturer said this week.Announcing the move on Wednesday October 20, BMW said that the company was "systematically pursuing [a] goal of significantly reducing CO2 emissions at their source in the supply chain."BMW said that, from 2025, it will source steel produced with up to 95% fewer C...Read More

Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.Following more ambitious climate targets by governments, Rio Tinto is revising its emissions reduction targets. Its new target is to reduce its Scope 1 & 2 carbon emissions of the greenhouse gas (GHG) Protocol by 50% by 2030, more than triple...Read More

Steelmakers in China will likely keep their production rates low in the fourth quarter of 2021 amid pollution controls and tight electricity supply even though they still seem to have a lot of "quota" left for the year, market participants say.In the first nine months of this year, China produced 805.89 million tonnes of crude steel, according to the country's National Bureau of Statistics (NBS)....Read More

A summary of BHP's operational review for iron ore and metallurgical coal for the quarter ended September 30, 2021, as released on Tuesday October 19.In brief Total production of iron ore for the three months ended September 30 was 63.3 million tonnes (70.6 million tonnes on 100 % basis), down by 4% year on year.Iron ore production was down by 3% quarter on quarter over July-September. The dip in...Read More