Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Aluminium's futures price reached yet another year-to-date high at $2,289.50 per tonne during trading on the London Metal Exchange on Monday March 22, with supply concerns for the metal continuing, and with all base metals prices up day-on-day at the close.The price of aluminium closed at $2,272 per tonne, $7 per tonne higher than on Friday, while its intraday high point on Monday was its highest...Read More
The process at the heart of proposals to overhaul the London Metal Exchange's market structure is problematic and suggests the exchange is not putting its users first, the president of the International Wrought Copper Council (IWCC) said. In an interview with Fastmarkets, Mark Loveitt said that it was not clear to the IWCC and its members why the exchange was revisiting plans to change its margin...Read More
The proposals included in the London Metal Exchange's discussion paper would not serve the needs of the physical market and could have a negative impact on copper and copper alloy semis-fabricators, the International Wrought Copper Council (IWCC) said.Mark Loveitt, IWCC president and director, said the association is not opposed to change but believed the proposals would not achieve the LME's stat...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.In both Europe and the United States, the prices of most flat steel products have pushed to record highs in the weeks to Monday March 22. They remain slightly below their mid-2008 peaks in China, but are at multi-year highs there too.This illustrates in part the heavier consequences of the Covid-19 pandemic for steelmakers in...Read More
Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More
RAPAPORT... When Covid-19 hit Europe and the United States just over a year ago, the watch world took an immediate beating. Sales plummeted globally, and not long after that, Swiss manufacturing facilities had to close for several weeks or more, causing a loss of production. Luckily, a year later, the industry seems to have stabilized - thanks in part to customers having more disposable incom...Read More
RAPAPORT... Informa, which runs the September Hong Kong show, has joined together with the Italian Exhibition Group (IEG) to launch a new fair in Dubai.The first edition of Jewellery, Gem & Technology (JGT) Dubai will take place from February 22 to 24 at the Dubai World Trade Centre (DWTC), the companies said Monday. The event - a partnership with the Dubai Multi Commodities Centre (DMCC) - wi...Read More
RAPAPORT... Spending on engagement rings in 2020 was only moderately affected by the Covid-19 pandemic as increased disposable income boosted consumers' budgets, according to a survey by The Knot.Last year, consumers spent an average of $5,500 on an engagement-ring purchase, a 6% dip from the $5,900 they were willing to lay out in 2019, the recent study found. Responses from 86% of those surv...Read More
(IDEX Online) - Signet Jewelers has achieved the targets of its three-year turnaround plan it says, as it reported increased revenue in Q4 of 2020 and a 70 per cent surge on online sales. The world's largest retailer of diamond jewelry achieved better-than-expected results and announced a new strategy - Inspiring Brilliance, which will focus on innovation and sustainable grow...Read More
RAPAPORT... Lucapa Diamond Company has increased output at its Mothae mine by 45% following an expansion of the site and the installation of a new processing plant.The project will allow the miner to raise its ore-processing capacity to 1.6 million tonnes per year, from 1.1 million tonnes, it said Monday. Lucapa has also added new machinery to the plant to aid in the process.The company is working...Read More
(IDEX Online) - Elsa Peretti, the Italian fashion model turned iconic jewelry designer has died aged 80.She was probably best known for her signature bone cuff bracelet, and for making silver popular again during her long tenure at Tiffany & Co.She was working as a model in New Work when she decided to try her hand at making jewelry, inspired by a piece she spotted at a flea market.She became...Read More
Domestic prices for steel hot-rolled coil substantially increased across Europe over the week to Friday March 19, driven by a material shortage and strong demand.At the end of last week, ArcelorMittal increased its offer prices further, up by ?,?50 per tonne in Northern Europe to ?,?850 ($1,012) per tonne ex-works, and up by about ?,?30-40 per tonne to ?,?820 per tonne ex-works in Italy.Fastmarket...Read More
(IDEX Online) - Israel's Washington ambassador and the head of its Mossad intelligence agency were both reportedly involved in lobbying for sanctions to be lifted on mining magnate Dan Gertler.They were successful, albeit briefly. The Trump administration froze his US assets in 2017 over allegations about his business activities in the Democratic Republic of Congo.It reversed that decis...Read More
Aluminium's futures price reached yet another year-to-date high at $2,289.50 per tonne during trading on the London Metal Exchange on Monday March 22, with supply concerns for the metal continuing, and with all base metals prices up day-on-day at the close.The price of aluminium closed at $2,272 per tonne, $7 per tonne higher than on Friday, while its intraday high point on Monday was its highest...Read More
The process at the heart of proposals to overhaul the London Metal Exchange's market structure is problematic and suggests the exchange is not putting its users first, the president of the International Wrought Copper Council (IWCC) said. In an interview with Fastmarkets, Mark Loveitt said that it was not clear to the IWCC and its members why the exchange was revisiting plans to change its margin...Read More
The proposals included in the London Metal Exchange's discussion paper would not serve the needs of the physical market and could have a negative impact on copper and copper alloy semis-fabricators, the International Wrought Copper Council (IWCC) said.Mark Loveitt, IWCC president and director, said the association is not opposed to change but believed the proposals would not achieve the LME's stat...Read More
The Defense Logistics Agency will potentially offer at least 400 tonnes of tin to the United States market through to September, starting with 40 tonnes in April, a DLA spokeswoman told Fastmarkets.The DLA has authorization to sell about 4,000 tonnes of tin from the US government stockpile this fiscal year (FY21), which, for the federal government ends, on September 30.Tin is in acutely short supp...Read More
Brazil-headquartered Nexa Resources has suspended operations at its Extremo Norte underground mine in the Vazante unit, due to the identification of ground displacements on the site, the base metals producer said on Friday March 19.The downtime is not expected to significantly affect production in the first quarter, however, Nexa said. Throughput of the second mine in the division, also called Vaz...Read More
Initial deals for second-quarter supply of aluminium to Japan have settled at levels that would mark six-year highs, boosted by demand from other key importer regions. Since the beginning of March, international producers have locked deals with Japanese buyers at $148-149 per tonne cif main Japanese ports (MJP), the highest since the second quarter of 2015, when the settlement was at $380 per...Read More
The European Commission has published proposed provisional anti-dumping duties on certain flat rolled products originating in China. Industry association European Aluminium called the announcement an important step forward in the fight against "China's unfair trade practices." The duty rates may vary from 19.60% to 47.30% and come after an anti-dumping investigation opened on August 14, 2020,...Read More