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 price of copper on the Comex exchange in the United States bounced back in morning trading on Tuesday March 5, with continued optimism about the outcome of international trade talks.The copper price for May settlement on the Comex division of the New York Mercantile Exchange rebounded by 2.05 cents to $2.9295 per lb.Continued optimism about US-China trade talks has improved risk sentiment acro...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday March 5 that are worth another look.The United States Commerce Department launched a Section 232 investigation into titanium sponge imports on Monday March 4 after domestic producer Titanium Metals Corp (Timet) filed a petition in September.Ferro-chrome prices are likely to be supported in the near to medium term by co...Read More
The US spot copper premium, which has held at a four-year high since July 2018, could come under pressure from an anticipated influx of Chinese material, market participants told Fastmarkets AMM.Fastmarkets AMM assessed the US copper cathode premium steady at 7-7.5 cents per lb delivered to the Midwest on Tuesday March 5; the premium is up by 26.1% from 5.5-6 cents per lb one year ago."There...Read More
Codelco faces further delays in bringing back refined copper smelting at its Chuquicamata plant, which is now expected to resume operations in mid-April, company sources told Fastmarkets on Tuesday March 5.Chuquicamata, which has the capacity to smelt 320,000 tonnes of refined copper per year, has been out of the market since mid-December as Codelco upgrades...Read More
Nickel demand is set to outstrip supply as soon as 2023, Amur Minerals chief executive officer Robin Young told Fastmarkets in an interview on Wednesday February 27. The junior mining company owns the Russia-based Kun-Manie project, the world's largest Asia-adjacent unexploited nickel deposit, home to an estimated 1.2 million tonnes of mineable nickel ore. And if nickel demand outstrips supply as...Read More
Base metals trading firm Traxys has hired Juli??n Gonzalez to trade zinc and lead concentrates, sources confirmed to Fastmarkets. Gonzalez was last at Swiss trader Trafigura, where he headed refined zinc and lead trading. Gonzalez will serve under Traxys' new...Read More
RAPAPORT... A synthetics detector costing less than $7,000 has emerged asone of only three machines with a 100% accuracy score in a recent industry-widestudy. Yehuda's Sherlock Holmes, priced at $6,495, correctlyidentified all synthetic diamonds in a "deliberately challenging" sample,according to a report the Diamond Producers Association (DPA) and SignetJewelers released Tuesday. De Beers' Diamo...Read More
RAPAPORT... The United Nations General Assembly (UNGA) has enacted aresolution calling for reforms to increase the effectiveness of the KimberleyProcess (KP), the World Diamond Council (WDC) said. The European Union proposed the resolution at the assembly's73rd session on March 1, with all 193 UNGA members agreeing to it. "We are most heartened by the adoption of the resolution bythe UNGA, not on...Read More
RAPAPORT... Phillips has hired Geoffrey Hess as a consultant for itswatch department, to support the division's collaborations, events, sourcingand new business initiatives. Hess - an aficionado of vintage sports watches - was previously the CEOof vintage-timepiece platform Analog/Shift, the auction house said Monday. He was also CEO of Ivanka TrumpFine Jewelry and senior adviser to former New Yor...Read More
RAPAPORT PRESS RELEASE, March 5, 2019, Las Vegas ... Diamond dealers remained cautious in February amid excess supply and selective demand. Suppliers had low expectations for the important Hong Kong International Diamond, Gem & Pearl Show as economic and political factors have impacted sentiment in China. There was stable demand at the show for 0.70- to 1.99-carat, F-J, VS2-SI2 diamonds, with...Read More
The prices for hot-rolled coil imported into the United Arab Emirates and Saudi Arabia have fallen over the past week, with the prices for other flat steel products moving in the opposite direction, but buying activity for all such materials has remained limited, Fastmarkets heard on Tuesday March 5.Deals were scarce because end-user demand was still weak, sources told Fastmarkets.In addition, sto...Read More
Resource development, a principal economic driver of the Northwest Territories' (NWT) economy, is getting a $5.1 million boost in federal funding.The Government of Canada is investing in two projects that will support resource development in the Slave Geological Province (SGP), an area where the territory's three operating diamond mines are located.New mining projects are expected to inject n...Read More
RAPAPORT... Star Diamond Corporation has noted a large quantity of high-valueand large rough stones at its two exploration sites in Canada, sending itsstock price shooting upward. Nearly 27% of diamonds at its Star project are type IIa, acategory that represents less than 2% of all rough diamonds mined fromkimberlites, the company reported Monday. The proportion of that category at its OrionSouth...Read More
Price assessments for steel rebar and billet imported into the United Arab Emirates have decreased slightly this week because of lower prices in agreed deals, sources told Fastmarkets on Tuesday March 5.Demand for rebar in the country remained only moderate.Rebar importsOman sold rebar to its northern neighbor state at $530 per tonne cpt UAE.Fastmarkets' weekly price assessment for UAE rebar impor...Read More
China's domestic rebar prices lost their upward momentum on Tuesday March 5 amid declining futures, while trading activity also thinned. Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($567-573) per tonne, narrowed downward by 20 yuan per tonneNorthern China (Beijing): 3,800-3,830 yuan per tonne, down 20-30 yuan per tonneDeclining futures led sellers to lower their prices in the morning. The...Read More
China's domestic prices for hot-rolled coil moved down slightly on Tuesday March 5 amid falling futures, but mills raised their export offers on optimism for demand to pick up in both locally and abroad.DomesticEastern China (Shanghai): 3,850-3,880 yuan ($574-579) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,780-3,800 yuan per tonne, down 10-20 yuan per tonne Losses in the futures...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. ...Read More
The Canadian federal government has announced an investment of C$5.1-million in two projects to support resource development in the mineral-rich Slave Geological Province (SGP) – an area in the eastern Northwest Territories and western Nunavut.The two projects entail planning for the development of an all-season access corridor and an exploration development initiative.AdvertisementA lack of...Read More
Export offers for Chinese cold-rolled coil and hot-dipped galvanized coil continued to rise over the past week despite thin trading, with the strengthening domestic market in China encouraging mills to ask for higher prices.Cold-rolled coilFastmarkets MB's weekly export price assessment for Chinese SPCC 1.0mm CRC was $547-558 per tonne fob on Tuesday March 5, up $2-3 per tonne from $545-555 per to...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. ...Read More