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
The publication of Fastmarkets' assessment of the aluminium 6063 extrusion billet premium, cif Thailand was delayed due to a reporter error.The premium is published every four weeks on a Friday and should have been published on March 12. It was instead published on Monday...Read More
(IDEX Online) - Gem Diamonds saw an increase in revenue and profits in 2020, despite Covid forcing the closure of its Letseng mine, in Lesotho, between March and May.The London-based miner reported net profits for the year of $24.3m, up almost 130 per cent on $10.6m in 2019. Sales were up 4.2 per cent to $189.6m.Letseng mine, the highest dollar per carat kimberlite diamond mine in the...Read More
(IDEX Online) - Petra Diamonds has concluded the debt-for-equity restructuring which should secure its future.The UK-listed miner failed to attract a buyer for its three mines in South Africa as revenues plunged and it struggled to repay $650m of debts. The deal it has now struck reduces shareholders' stake in the company to just nine per cent.Its debts have been being replaced by $337m...Read More
(IDEX Online) - The IGI labs are to start assembling the world's first diamond coins, which are to be traded as a commodity.Their task will be to inspect and authenticate over 50,000 natural diamonds, seal them into transparent coins, each of exactly the same value. The International Gemological Institute (IGI) is partnering with the US-based Diamond Standard, which launched a $25m IPO l...Read More
In her early career, La Farga chief executive Inka Guix? had not considered working for the business founded by her father and grandfather, but in her late-20s she accepted an invitation to join the company and assist in its expansion. She recounts her route to the top of the business and discusses the outlook for copper with Andrea Hotter. If Inka Guix? had taken her teacher's advice not to go...Read More
Prices for carbon steel plate in the United States held steady while spot trading was virtually suspended because US mills have not yet opened order books for May. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US held at $54.50 per hundredweight ($1,090 per short ton) on Friday March 12. The assessment has gained 118% since descending to its 2020 low of...Read More
Slab producers from the Commonwealth of Independent States raised prices further for overseas customers during the week to Monday March 15 as some accepted higher levels in the most recent round of sales.Around 25,000-30,000 tonnes of Ukraine-origin slab was heard booked in Turkey last week within the range of $740-750 per tonne cfr. This nets back to $715-730 per tonne given freight costs of $20-...Read More
Flat steel prices in the Brazilian domestic market remained stable in March, but despite a lack of buying interest a 12% price increase is being planned for April due to the low availability of coil.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil, remained at 5,848-5,858 Reais ($1,054-1,055) per tonne on Friday March 12, unchanged from the previous mo...Read More
Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationAntapaccay had said on Thursday it had suspended operations after the main access to its facilities had been blocked since Monday, March 8.In a translated statement on its Facebook page, Compania Minera Antapaccay said the protest had been initiated by some residents of 11 communities in the Espinar province...Read More
Markets are starting the week mixed with base metals prices and equities in different regions showing divergent performances this morning, Monday March 15.* United States 10-year treasuries yields strong at 1.64%, showing risk-on* China’s industrial production and retail sales climb more than expected...* ...but unemployment also risesBase metalsThree-month base metals prices on the London Me...Read More
Italian domestic steel scrap prices increased in the month to Monday March 15, following the rise in prices seen globally since mid-February, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill, Italy was ?,?335-345 ($400-412) per tonne on March 15, up by ?,?20-25 per tonne month on month from ?,?310-325 per tonne.The as...Read More
Turkish deep-sea scrap import markets were quiet on Monday March 15 with mills holding back from making bookings following the latest correction in prices, sources said.At the end of the last week, two Baltic Sea cargoes were booked at $435-437 per tonne cfr on an HMS 1&2 (80:20) basis, sending the daily scrap indices down by $15.61 per tonne day on day on Friday.This led the steel mills to retrea...Read More
Domestic ferrous scrap prices in Germany increased significantly in the month to Monday March 15, supported by the trend in international trading, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap), domestic, delivered mill, Germany, was ?,?360-370 ($430-442) per tonne on March 15, up by ?,?20-30 per tonne from ?,?330-350 per tonne in mid-F...Read More
Turkish domestic scrap market prices have gone down over the past week in line with the downturn in imported scrap values, sources said on Monday March 15.Turkish deep-sea scrap import prices fell sharply at the end of last week due to panic sales, especially in the Baltic Sea region, sources said.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $439.99 per...Read More
Eli Lilly (LLY), an S&P 100 stock moved below $194.83 completing a double top pattern.MMM (MMM), an S&P 100 stock moved above $185.74 extending an intermediate uptrend.Rogers Communications (RCI) moved above US$48.93 and US$49.19 extending an intermediate uptrend. The stock is responding to news that RCI has offered to acquire Shaw Communications at Cdn$40.50 per share, a record high for a...Read More
After a consultation period, Fastmarkets has amended the frequency of its two low-volatility pulverized coal injection (PCI) indices to weekly from daily pricing starting from March 15, 2021. This decision was made due to the illiquid nature of the spot market, which has been further affected by China's ongoing ban on Australian coal imports. All historical data relating to these prices prior...Read More
The price range for rebar imports into Singapore widened during the week to Monday March 15 on steady demand from buyers and lower-priced cargoes from India, sources told Fastmarkets.There was one transaction heard concluded at $685 per tonne cfr Singapore on a theoretical weight basis for a 50,000-tonne cargo from Turkey, and another transaction heard concluded at $675 per tonne cfr Singapore on...Read More
The seaborne premium hard coking coal price in the fob market remained weak on Monday March 18 because there is sufficient supply of Australia coking coal supply to ex-China markets, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $114.52 per tonne, down $3.05 per tonnePremium hard coking coal, cfr Jingtang: $212.86 per tonne, up $0.43 per tonneHard coking co...Read More
When considering the prospects for the new Shanghai International Energy Exchange (INE) copper contract, a senior executive at one of the world's largest metals trading companies quoted Hamlet's soliloquy in the Shakespearian play of the same name."In terms of promotion of the internationalization of the renminbi and weakening of the pricing power of the [London Metal Exchange] and CME: 'To be or...Read More
Seaborne iron ore prices were lower across the board on Monday March 15 due to weak trading sentiment after a heavy sandstorm in Beijing added to concerns about the impact of emissions restrictions in Tangshan on iron ore demand. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $163.33 per tonne, down $2.11 per tonne 62% Fe low-alumina fines, cfr Qingdao: $163.61 per tonne, down $1.92 per t...Read More