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 Gahcho Ku?(C) diamond mine, a joint venture between De Beers Canada and Mountain Province Diamonds is selling an exceptional, 60-carat yellow rough diamond in a sealed bid tender. Reid Mackie, adviser on behalf of Mountain Province, said that this is one of the most exciting stones to have been extracted from the mine since operations commenced at Gahcho Ku?(C). "The stone stuck out like a tr...Read More
Brazil's apparent consumption of steel totaled 1.54 million tonnes in January, down 5.6% from 1.63 million tonnes during the same month in 2018, national steel association Instituto A??o Brasil said on Friday February 22.Performance lagged most in the flat steel market. Flat steel usage reached 905,000 tonnes in the month, as it fell by 8.2% from 986,000 tonnes in January 2018. Long steel consumpt...Read More
Lucara Diamonds’ Karowe mine, in Botswana, achieved a strong operational performance in 2018, meeting or exceeding guidance in all areas, the company said on Thursday.Tonnes mined for the year ended December 31, 2018, reached 18.1-million, in line with guidance of 15.5-million to 18.7-million tonnes.AdvertisementOre and waste mined were 3.1-million tonnes and 15-million tonnes, respectively....Read More
Indian flat steel producers increased domestic hot-rolled coil (HRC) prices by 1,000 rupees ($14) per tonne at the start of this week to factor in the higher prices of the commodity in the international market and rising raw materials costs.The price increase of 1,000 rupees per tonne for sales in the second half of February takes Fastmarkets' domestic HRC price to 40,500-41,000 rupees per to...Read More
LONDON – Wholesale prices for laboratory-grown diamonds have fallen by up to 60% since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall.De Beers, part of mining group Anglo American, shocked the diamond industry last year when it announced it was reversing a decades-old policy of selli...Read More
CIS steel billet producers reduced offers of April-rolling billet in the week ended Friday February 22 in an attempt to attract customers, following the decline in global scrap prices, particularly in Turkey.Fastmarkets daily index for Northern Europe-origin HMS 1&2 (80:20) was calculated at $304.96 per tonne cfr Turkey on Friday February 22, down from $324.29 on the same day last week.The daily i...Read More
Weak demand and excess supply have driven Indian domestic secondary billet prices down by at least 1,300 rupees ($18) per tonne over the week ending Friday February 22, Fastmarkets has learnt.Indian domestic secondary billet prices ended the week at 33,000-33,200 rupees ($464-467) per tonne ex-mill. This was down from 34,300-34,500 rupees per tonne ex-mill, assessed by Fastmarkets last week.An off...Read More
Anglo American subsidiary De Beers achieved a 4% year-on-year increase in revenue to $6.1-billion in 2018, compared with $5.8-billion in 2017, which was supported by improved high-end jewellery sales at De Beers Jewellers.Its earnings before interest, taxes, depreciation and amortisation, however, decreased by 13% to $1.2-billion, compared with $1.4-billion in 2017.Advertisement“While unit c...Read More
Coated-steel prices in Turkey were stable in the week ending Friday February 22, with demand weak in both the domestic and export markets.Steel prices increased early February globally following sharp rises in raw materials prices due to supply concerns after Vale's tailings dam accident in Brazil.The incident will result in a 40-million-tonne-per-year production gap for iron ore, Vale said.Howeve...Read More
Steel coil prices in Turkey have mostly been stable in the week ended Friday February 22, with buying activity remaining weak.Prices are likely to fall soon if demand does not improve, sources told Fastmarkets.Buyers placed orders early in February because they had low stock levels, but end-user demand in the country was not strong, so at the moment buyers prefer to wait and see whether prices wil...Read More
Eastern promise for PolarXSPONSOREDpolarxIt said almost US$8 billion is being invested in the development of three copper projects: Quellaveco ($5 billion), Mina Justa ($1.6 billion) and Toromocho expansion ($1.3 billion).Read More
Eastern promise for PolarXSPONSOREDpolarxIn the face of increasing levels of complaints from local communities about miners using freshwater sources, the DGA aims to make it more difficult for them to access the precious resource by moreRead More
The price of shredded ferrous scrap imported into India fell this week, confirming the correction that market participants had been expecting, sources told Fastmarkets on Friday February 22.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $339.44 per tonne cfr on February 22, a fall of $6.06 per tonne from $345.50 per tonne cfr on Februa...Read More
Light iron steel scrap prices in the United Kingdom have increased for a fifth consecutive week, because of higher export prices in key markets, sources told Fastmarkets on Wednesday February 22,.But a correction could be coming, they added, with global markets beginning to struggle.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?95-120 ($124-157...Read More
Alloy steel scrap prices in the UK domestic and European import markets were largely stable during the week to Friday February 22, with sources indicating essentially unchanged market conditions compared with the previous week. The exception was grade-316 stainless scrap imported to Europe, the price of which increased by ?,?20 per tonne on the high side to ?,?1,440-1,470 ($1,633-1,667) cfr for so...Read More
Turkish steel mills resumed their deep-sea scrap bookings at the end of this week with a sharp decrease in the prices, sources said on Friday February 22.A steel producer in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $307 per tonne and 5,000 tonnes of bonus at $317 per tonne cfr, late on February 21.This compared with the previous Baltic Sea cargo...Read More
Iron ore prices continued to correct on Friday February 22 amid volatility in the futures market and low seaborne liquidity.MB 62% Fe Iron Ore Index: $86.65 per tonne cfr Qingdao, down $0.03 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.05 per tonne cfr Qingdao, down $0.03 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.43 per tonne cfr Qingdao, up $0.07 per tonne. MB 58% Fe Premium Ind...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. ...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. The Canadian Dollar was up 0.07 to 75.70 cents U.S. following release of December Canadian Retail Sales. Consensus was a slip of 0.3% versus a drop of 0.9% in November. Actual was a slip of 0.1%.Royal Bank (RY $102.27) is expected to open higher after increasing its quarterly dividend. K...Read More
The seaborne coking coal market was quiet on Friday February 22 following a flurry of transactions through the week that sent prices of premium hard coking coal up by more than 4% over the week.Fastmarkets' cfr China Premium Hard Coking Coal Index was unchanged from the previous day at $212.60 per tonne on Friday, but up 4.8% from Monday, while the fob Australia Premium Ha...Read More