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
Steady fundamentals kept aluminium premiums unchanged in most regions on Tuesday November 10, with premiums in the United States Midwest, Rotterdam and Japan remaining stable and those in Italy and South Korea moving lower.US Midwest premium holds amid tight supplyRotterdam premiums steady on supportive contangoMJP premium flat in quiet marketUS Midwest premium holds after presidential election re...Read More
RAPAPORT... Alrosa's sales exceeded 2019 levels for the third consecutive month in October as the diamond market improved ahead of the holidays.The Russian miner saw sales of $310 million for the month, it said Tuesday - 17% higher than the $264.4 million it reported a year earlier. Rough sales rose 18% to $299.3 million, while polished revenue grew 3% to $10.7 million."In October, demand for...Read More
RAPAPORT... The economic challenges resulting from Covid-19 have forced companies and industries at large to reassess their value propositions. Along with the tremendous health concerns, the coronavirus has also brought unprecedented disruption to the global economy, pushing the business community to modify the way it operates. The changes that have taken effect during the coronavirus will likely...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? Flat steel product prices in the United States moved largely in line with our expectations in October, although the increases slightly outpaced our projections. US hot-rolled coil prices averaged $655 per ton in October, exceeding our forecast price of $640 per...Read More
RAPAPORT... A Tutti Frutti bracelet by Cartier is set to go under the hammer at Bonhams in Hong Kong this month, with a high estimate of HKD 2.8 million ($361,105).The piece, which features a carved foliate emerald center stone in a diamond and sapphire frame, contains a band set with rubies, emeralds and sapphires. It will headline the November 28 Jewels and Jadeite sale, Bonhams said last week."...Read More
RAPAPORT... Two weeks after New York's Museum of Art and Design (MAD) closed due to the coronavirus pandemic, Franci Sagar hosted the Store at the MAD's first virtual trunk show. It was far from her last; MAD has conducted virtual selling events about twice a month since April."I never thought we'd sell a dollar - I just thought we'd keep people engaged," admits the vice president of brand an...Read More
RAPAPORT... The diamond sector's rebound from the Covid-19 crisis will feature ups and downs that will continue into next year at least, De Beers predicted."The demand recovery is not expected to be linear, particularly as localized lockdowns take place," De Beers explained Monday in its annual Diamond Insight Report. "Retailer expectations for the second half of the year are mixed, with...Read More
(IDEX Online) - Alrosa's recovery continued last month with total sales of $310m even though it effectively canceled its trading session.That was 17 per cent up on the same month last year. In September the Russian miner reported totals sales of $336m, up 23 per cent year-on-year and in August it sold $216m, up 16 per cent on the same month in 2019.It canceled the October trading session to a...Read More
RAPAPORT... Asian Star's sales fell in the second fiscal quarter as the coronavirus pandemic continued to affect business for the Indian manufacturer of diamonds and jewelry.Group revenue - including at subsidiaries - slid 38% year on year to INR 4.98 billion ($67.3 million) in the three months ending September 30, the Mumbai-based company reported Friday. The sales decline was gentler than t...Read More
(IDEX Online) - India's diamond traders are calling on the government to make good on its promise to scrap the new two per cent e-commerce tax on rough imports.The finance ministry gave industry leaders an undertaking in August that diamonds would be exempt from the equalization levy introduced in April.But after three months it has yet to formally amend the law, prompting concerns among diam...Read More
The licenses for an additional 30,000 tonnes of duty-free aluminium imports that were added to the annual quota by the authorities in Brazil have already been completely used by the industry, Fastmarkets heard on Tuesday November 10."The additional 30,000-tonne quota is, indeed, exhausted for new import licenses at the moment," a spokesperson for the foreign trade and international affairs secreta...Read More
Aluminium stocks at Shanghai-bonded warehouses surged by over 200% year on year in October on a profitable import arbitrage, while copper inventories grew on both annually and quarterly comparisons.Open arb window, good demand support aluminium stocks increaseFastmarkets assessed Shanghai-bonded aluminium stocks at 30,000-30,500 tonnes on Friday October 30, up by 203% from 9,500-10,500 tonnes in t...Read More
Huasheng alumina refinery in Guangxi province, southern China, has started operations on its second production line that will add 1 million tonnes per year of alumina capacity to an already oversupplied market, sources told Fastmarkets on Monday November 9. "I heard their second operation line was ready for production and they began putting raw material into the newly-built operation line in late...Read More
LME three-month base metals prices held slim gains in the morning session on Tuesday November 10, buoyed by bullish sentiment arising from Joe Biden's US presidential win and Pfizer's Covid-19 vaccine announcement on Monday.However, some industry analysts were not optimistic that the recent rally across London Metal Exchange base metals prices was sustainable, and suggested that prices have b...Read More
Domestic prices for hot-rolled coil in Northern Europe increased day on day on Tuesday November 10, due to long lead times for domestic material and lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?521.67 ($618.77) per tonne on Tuesday, up by ?,?8.54 per tonne from ?,?513.13 per tonne on Monday.The in...Read More
Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil, sources said on Tuesday November 10.Local demand was strong for flat steel in India and China, the main exporters of flat steel to the UAE and Saudi Arabia, so only China made a limited quantity of offers at high prices.UAEOffer prices for HRC from Chinese supplier...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Kodiak reported intercepting 192m at 1.21% copper-equivalent, or 0.74% copper, 0.48g/t gold and 2.75g/t silver, from 308m.It was part of a 515.8m interval grading 0.63% Cu-eq and included a higher-grade 45m at 2.13% Cu-eq.Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.To...Read More
The recovery of demand for imports of steel billet into China that started last week, and pushed up the prices in the wider Asian region, has played to the advantage of CIS exporters.CIS mills were already almost sold out for December-shipment volumes and were now hoping for higher prices for January-shipment cargoes. Late last week, billet from the CIS region was available within the range of $42...Read More
Steel billet and rebar prices in the United Arab Emirates remained stable while demand was weak, sources said on Tuesday November 10.Domestic rebarThe country's steel producers were offering rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in November, unchanged since September 15.Deal prices were reported to Fastmarkets at around...Read More
A summary of the financial results for Turkey's largest integrated long steel producer, Kardemir, for the first three quarters of 2020, covering the period January 1-September 30.In briefThe company managed to increase its earnings, as well as its steel output, despite the effects of the Covid-19 pandemic on the steel market.Kardemir also increased its sales...Read More