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
(IDEX Online) - Pandora says it has no plans to permanently close any of its stores worldwide, despite coronavirus.The Danish jewelry retail giant, best known for its charm bracelets, also said been paying all its 28,000 staff in full throughout the pandemic, and would carry on doing so.Chief executive Alexander Lacik (pictured) told the BBC his stores were "incredibly profitable" and could "withs...Read More
Domestic prices for steel hot-rolled coil increased in Northern Europe in the week to Friday November 6, due to good order books at European mills amid long lead times and limited offers for imported coil.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?512.53 ($608.52) per tonne on Friday, up by ?,?7.53 per tonne week on week and by ?,?16.07 per t...Read More
(IDEX Online) - Fugitive diamond billionaire Nirav Modi has suffered another blow in his legal bid to avoid extradition to India over an alleged $1.85bn fraud.A British court ruled that it would hear evidence against Modi from the Indian government, dismissing his lawyer's claim argument that it was not admissible.Modi, 49, (pictured) was India's most wanted man until he was arrested in...Read More
TradeCloud chief operating officer Matthew Botell says technology solutions are there to help commodity traders amid thinning margins and sliding credit availability, if market participants are just willing to give them a try.Botell - former Coo of Trafigura's metals and bulks division - set up the fintech company as a platform for securing commodity business in 2016 with Simon Collins who held th...Read More
Imports of standard P1020 aluminium to the United States from Canada continued to decline in September, while as demand for value-added products (VAP) has revived, US Census Bureau data shows.According to the data, imports of unalloyed, P1020 primary aluminium from Canada totalled 66,100 tonnes in September, down by 52.5% year-on-year and 48.7% compared with August. This was the thi...Read More
Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRemote Pitram deployment puts miners in the driver's seat Amid Covid ClosuresSPONSOREDmicromine'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningThe warning for the metals and bulks sector comes after last week's announcement fro...Read More
Metalex - an industrial aluminium recycling plant owned by Brazilian producer Companhia Brasileira de Alum?-nio (CBA) - will invest 50 million Reais ($9.3 million) to increase scrap treatment and add to its extrusion billet production capacity, CBA said.The expansion project for its plant in Ara??ariguama, a city in southeast Brazil, is divided in to two phases.First, Metalex will install a side w...Read More
Alumina exports from Brazil in October were significantly down by 32.9% year on year after both Alunorte and Alumar shipped less material, data from the ministry of economy published on Friday November 6 shows.Exports totaled 500,888 tonnes in October, down from 746,998 tonnes a year before, the ministry's data showed.The most pronounced fall came from Alunorte, the refinery owned by Norwegian com...Read More
Fastmarkets has corrected its zinc bonded stocks assessment, which was published incorrectly on Friday October 30 due to an input error.Fastmarkets' Shanghai bonded zinc stocks, tonnes assessment was incorrectly published as 66,000-73,000 tonnes, when it should have been 25,000-27,000 tonnes.Fastmarkets' price book and database has been updated to reflect this change.For more information or to pro...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The latest drilling intersected further extensive zones of gold-copper mineralisation, more than doubling the size of the immediate target zone identified by the discovery drill program in SeptemberRead More
The three-month nickel price was the standout performer during morning trading on the London Metal Exchange on Monday November 9, with a continued fading of the United States dollar index supporting buying momentum, while US presidential candidate Joe Biden's nomination to the White House saw positive trading across the complex. Nickel's outright price on the LME was recently seen at $15,835 per t...Read More
European distributors of flat steel products reported a 3.7% year-on-year rise in shipment volumes in September, regional steel industry association Eurometal said on Monday November 9.Over the first nine months of 2020, flat steel distributors' shipments, however, dropped by 16.1% year-on-year.Eurometal did not disclose individual product volumes.Fastmarkets calculated its daily steel hot-rolled...Read More
Domestic prices for hot-rolled coil in Northern Europe moved up slightly day on day on Monday November 9, supported by long lead times at European mills and a lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?513.13 ($609.23) per tonne on Monday, up by ?,?0.60 per tonne from ?,?512.53 per tonne on Frid...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly stronger this morning, Monday November 9, after markets reacted positively to Joe Biden winning the US presidential election and the resulting weaker dollar.* Chinas unwrought copper imports climbed 43% in October, year on year.* China total exports climbed by 11.4% in October from a year ago, whil...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were broadly stable over the seven days to Monday November 9 in a seasonally slower market, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, remained at 40,000-41,000 roubles ($516-529) per tonne including 20% VAT on Monday.In US dollar t...Read More
Slab export prices from Brazil increased in the week to Friday November 6 as buyers in the United States negotiate January-shipment batches.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, rose to $500-540 per tonne fob on Friday, up by $10-35 from $490-505 per tonne fob the previous week.Offers for Brazil-origin slab were reported as high as $540 per tonne fob.Al...Read More
Domestic flat steel prices in Russia's Central Federal District around Moscow were largely flat over the week to November 9, despite producers' attempts to push for increases and a slow secondary market demand blocking that rise, sources told Fastmarkets on Monday.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia remained at 43,000-44,000...Read More
China's hot-rolled coil exporters raised offers significantly on Monday November 9 despite thin trading, triggered by slumps in the United States dollar caused by investor expectations of monetary easing in the United States after Joe Biden's presidential election triumph.DomesticEastern China (Shanghai): 4,080-4,100 yuan ($617-620) per tonne, up 40 yuan per tonneTrading was active in the domestic...Read More
S&P 500 Index moved above 3,588.11 to an all-time high extending its intermediate uptrend.Dow Jones Industrial Average also moved to an all-time high extending an intermediate uptrend.Breakouts above intermediate resistance levels by S&P 500 stocks were too numerous to include in this report. Breakouts by Sector SPDRs included XLP, XLI, XLF, XLE and XLP. Pre-opening Comments for Monda...Read More
Steelmakers in Turkey stepped back from deep-sea purchases on Monday November 9, after the value of the Turkish lira increased by just under 4% in one day, sources told Fastmarkets.Turkish steelmakers booked eleven deep-sea cargoes last week.However, the Turkish currency rebounded sharply after the news of the resignation of Turkey's economy minister and the replacement of the central bank go...Read More