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
MineHub Technologies and IBM (NYSE: IBM) today announced a collaboration to use blockchain technology to help improve operational efficiencies, logistics and financing and reduce costs in the high-value mineral concentrates supply chain - from mine to end buyer.Goldcorp Inc. (TSX: G), ING Bank (NASD: ING), Kutcho Copper Corp. (TSXV: KC), Ocean Partners USA Inc. and Wheaton Precious Metals Corp. (T...Read More
Wire rod prices remain flat in the United States for both domestic and imported material, although downward pressure has emerged in January from declining raw material costs and weakening demand. Fastmarkets' assessment for industrial quality low-carbon rod held at $39.25-41.25 per hundredweight ($785-825 per short ton) fob mill on Tuesday January 15, with imported wire rod steady at $74...Read More
South Africa’s mining production decreased by 5.6% year-on-year in November.Statistics South Africa on Tuesday reported that the largest contributors to the decrease had been the iron-ore, gold, diamonds and other non-metallic minerals sectors.AdvertisementCommenting on the report, Investec indicated in a statement on Tuesday that this outcome was notably below market expectations.Further,...Read More
RAPAPORT... Alrosa will resume diamond-mining operations in Zimbabwe after a two-year break from the country. The Russian miner announced it would partner with the African country to develop joint exploration and extraction projects. The announcement took place during a visit to Moscow by Zimbabwe President Emmerson Mnangagwa. "We...seek to support Zimbabwe in the development of its diamond-m...Read More
(IDEX Online) - The diamond industry has moved from a relatively stable environment to a highly uncertain environment, with 2019 and the years ahead seeing lab-grown diamonds for jewelry entering a growth phase, said ABN AMRO Bank in a report. The launch by De Beers of its lab-grown diamond jewelry line "has serious consequences for the actors in the diamond industry," according to the rep...Read More
(IDEX Online) - Mountain Province Diamonds Inc. announced that production at the Gahcho Ku?(C) diamond mine achieved a record figure of 6.94 million carats last year. Q4 and Full Year 2018 Summary With another solid operating quarter in Q4 2018, the GK mine ended 2018 with record diamond production of 6.94 million carats at an average grade of 2.17 carats per tonne, 17% higher than the prev...Read More
(IDEX Online) - The Israel Diamond Exchange (IDE), organizers of the International Diamond Week in Israel (IDWI), reports that due to overwhelming registration for the event only a few hotel rooms for participating buyers are available. IDWI is offering eligible buyers three complimentary nights at a local hotel, but organizers warn that late registration will not guarantee free hotel acco...Read More
Definitive measures in the safeguard case into imported steel in the EU "do not take into account the needs of downstream users of steel, such as the automotive sector," the European Automobile Manufacturers' Assn (ACEA) said on Wednesday January 16.The EU member states voted on Wednesday to support the proposal for definitive measures in the region's safeguard investigation into imported steel.Th...Read More
RAPAPORT... Indian industry bodies are stepping up measures to prevent owners of bankrupt diamondcompanies from starting a new business before clearing their debts. The country's TradeDisciplinary Committee (TDC) could ban such new firms fromcarrying out business on the premises of member organizations, it said in a notice December 21.That would effectivelyprevent them from operating wit...Read More
The EU member states have voted on Wednesday January 16 to support the proposal of definitive measures in the region's safeguard case into imported steel, according to the European Commission (EC).The EC will now finalise the procedure, so that the definitive measures can come into force at the start of February 2019. The measures will remain in place until July 2021.The EC notified the World Trad...Read More
The ferrous scrap export market in the United States has been active this month, with a flurry of cargoes sold to Turkey and South Korea over the past week, but the healthy demand did not provide any boosts to bulk export prices on either US coast. Five cargoes - two from the East Coast and three from the West Coast - traded to Turkey and South Korea in the past seven days. The two East Coast carg...Read More
The deep-sea scrap suppliers to Turkish steel mills were trying to increase their offer prices because collection costs were rising with the worsening winter conditions, sources said on Wednesday January 16.But Turkish steel producers were still struggling with weak demand for their finished steel products in the country's export and domestic markets."The scrap suppliers in the United States have...Read More
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Three-month base metals prices on the London Metal Exchange were firmer across the board this morning, Wednesday January 16, with prices up by an average of 0.8%. This after further temporary stimulus measures from China gave sentiment a boost. Zinc led the advance with a 1.7% increase to $2,497 per tonne, followed by copper that was up by 1.1% at $5,973 per tonne. Tin was the laggard with a 0.1%...Read More
Seaborne iron ore prices increased moderately on Wednesday January 16 amid active offering on platforms.MB 62% Fe Iron Ore Index: $74.31 per tonne cfr Qingdao, up $0.53 per tonne. MB 62% Fe Pilbara Blend Fines Index: $74.45 per tonne cfr Qingdao, up $0.53 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $76.05 per tonne cfr Qingdao, up $0.55 per tonne. MB 58% Fe Premium Index: $65.74 per tonne cfr...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreBHP, Global Ore, 90,000 tonnes of 62% Fe Newman fines, traded at $74.90 per...Read More
Trading slowed down in the seaborne coking coal spot market on Wednesday January 16 after a flurry of transactions earlier in the week."I imagine [imported coking coal prices] to be more or less stable until the Chinese New Year. A price of $190 per tonne cfr China for premium hard coking coal is definitely cheaper compared with domestic materials," a Chinese trader said.A mill source in China con...Read More
China's ferrous futures had a mixed morning on Wednesday January 16, with the steel contracts posting increases while the steelmaking raw materials ones ended the session slightly lower than their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,537 yuan ($523) per tonne, up 16 yuan per tonne May hot rolled coil: 3,434 yuan per tonne, up 19 yuan per to...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.First Data gained $3.50 to $20.99 and Fiserv dropped $3.44 to 71.60. Fiserv has offered to acquire First Data (FDC $) in a share exchange valued at $22 billion. Each share of First Data will convert into 0.303 shares of Fiserv.United Continental (UAL $81.20) is expected to open higher afte...Read More
Base metals on the London Metal Exchange were predominantly higher during morning trading on Wednesday January 16, with a slight downturn in the US dollar index providing legroom for upward price action while nickel futures continue to gain traction. Despite being the only metal to trade in negative territory over the morning, nickel's three-month price remains elevated, trading at an intraday hig...Read More