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
RAPAPORT... The lab-grown-diamond sector is enjoying a spike in awareness among US consumers and is starting to make headway into the engagement-ring market, according to a report commissioned by the International Grown Diamond Association (IGDA) and carried out by MVI Marketing. "Over the last two years, the anecdotal feedback from IGDA members has been that the bridal category is where they...Read More
RAPAPORT... The US saw a 4% decline in polished-diamond imports inNovember, according to data from the US Census Bureau. The average price fell9%, outweighing a 5% increase in volume. Trade figures were still positive forthe January-to-November period, with a 7% jump in total import value,reflecting a similar rise in the price per carat.US Diamond Trade Data for November 2018 Millions unles...Read More
Aim-listed BlueRock Diamonds has raised £575 000 before expenses through the issue of 191.67-million shares at a price of 0.3p a share. The funds will be used to continue the development of the Kareevlei mine, in the Kimberley region of South Africa.AdvertisementThe recent recovery of large, high-quality gem diamonds has encouraged the company to look at ways to fast-track its productio...Read More
Turkish President Recep Tayyip Erdogan has put his weight behind calls for a reduction of the trade tariffs affecting his country's steel and aluminium exports to the United States.US President Donald Trump doubled the tariffs applied to steel and aluminium imported from Turkey in August 2018. At the time, relations between the two countries were poor because of Turkey's detention of US evangelica...Read More
The 25th Investing in African Mining Indaba took place this week. Mining Weekly editor Martin Creamer attended the indaba and unpacks the highlights.AdvertisementRead More
Import prices for steel slab in Southeast Asia and East Asia increased again over the past week on expectations of higher prices, although the market was quiet amid the week-long Lunar New Year trading lull.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $445-460 per tonne cfr on Monday February 11, up $15 per tonne from a week earlier.There were no boo...Read More
China's hot-rolled coil exporters are planning to offer much higher prices after a surge in the domestic market on Monday February 11 following global price gains in iron ore during the Lunar New Year festival break, market participants told Fastmarkets MB.DomesticEastern China (Shanghai): 3,870-3,890 yuan ($574-577) per tonne, up 90 yuan per tonneNorthern China (Tianjin): 3,800-3,810 yu...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Import prices for re-rolling-grade hot-rolled coil into Vietnam are expected to continue on an upward trend from this week onwards amid surging iron ore prices, which market participants expect to continue boosting downstream carbon steel prices.The MB 62% Fe Iron Ore Index was at $85.53 per tonne cfr Qingdao on Friday February 8, up from $74.69 per tonne cfr Qingdao on Friday January 25, while th...Read More
Alderan unlocking Frisco potentialSPONSOREDalderan resourcesIts Ministro Hales, Gabriela Mistral and Radomiro Tomic divisions were also back to normal, and it starting to repair the public road linking Calama with Chuquicamata, Codelco said yesterday."Thanks to the measures adopted and the existing protocols, during the emergency no injured workers have been registered," the company said.Alderan u...Read More
Turkish domestic scrap prices have continued to increase in line with the rise in the costs of imported deep-sea scrap and domestic finished steel, sources said on Monday February 11.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,660-1,810 ($316-344) per tonne delivered on February 11, rising from TRY1,595-1,690 per tonne last week.The steel mill...Read More
Seaborne iron ore prices surged across the board on Monday February 11 when trading resumed in China after a week-long public holiday. MB 62% Fe Iron Ore Index: $90.58 per tonne cfr Qingdao, up $5.05 per tonne. MB 62% Fe Pilbara Blend Fines Index: $91.42 per tonne cfr Qingdao, up $5.05 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $92.50 per tonne cfr Qingdao, up $5.18 per tonne. MB 58% Fe Prem...Read More
Prices in the seaborne coking coal spot market failed to get a boost from the return of Chinese participants following the Lunar New Year break on Monday February 11."There is still a lack of clarity on how the customs clearance restrictions on Australian coal will be enforced or to what extent, [and therefore] there are very few transactions at this juncture," a source at a mill in...Read More
China’s return to the market after a week-long break for Lunar New Year has not brought with it a rush to restock and that has led to some disappointed selling across the base metals traded on the London Metal Exchange, with the complex down by an average of 0.9% this morning, Monday February 11. The three-month zinc price led the decline with a 2% drop, while the three-month tin price was do...Read More
Import prices for rebar in Singapore are likely to increase significantly in the near term following surges in steelmaking raw material prices, market sources told Fastmarkets MB. Market participants expect major rebar producers to increase their offers to Singapore buyers on rising ferrous scrap and iron ore prices.New offers for containerized heavy melting scrap 1&2 (80:20) into Taiwan are expec...Read More
Iron ore futures in China surged on Monday February 11, with the most-traded contract opening 8% above the last settlement price with the return of Chinese market participants from a week-long break.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,870 yuan ($574) per tonne, up 40 yuan per tonneMay hot-rolled coil: 3,757 yuan per tonne, up 38 yuan per tonneDalian Comm...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.Tapestry (TPR $33.86) is expected to open lower after MKM Partners lowered its target price to $52 from $63.Applied Materials (AMAT $39.78) is expected to open lower after Stifel Nicolaus lowered its target price to $53 from $63.Cameco (CCO $16.39 Cdn) is expected to open higher after rep...Read More
China's rebar prices increased on Monday February 11 in both the domestic and export markets amid higher billet and futures prices. Domestic Eastern China (Shanghai): 3,830-3,880 yuan ($568-575) per tonne, up 120-130 yuan per tonneNorthern China (Beijing): 3,800-3,830 yuan per tonne, up 90-100 yuan per tonneBillet prices rose after futures opened higher, leading to bullish sentiment...Read More
Key data from the pricing sessions in London and New York on Monday February 11.United States US prices drifted downward by $0.02 per lb on the low end for domestic silicon, grade 553, free carrier, to $1.14-1.18 per lb, on plentiful supply, with offers reported at $1.14 per lb and sales at $1.16 per lb. Spot buying was even more limited than is typical in January because so many market participan...Read More
"From time immemorial proverbial wisdom has taught the virtues of saving," wrote Henry Hazlitt, "and warned against the consequences of prodigality and waste."Hazlitt authored his masterly primer on economics, Economics in One Lesson, in 1946.Yet he etched it in the rock of ages with its timeless insights."But there have always been squanderers, and there have apparently always been theorists to r...Read More