Cold-rolled coil and coated steel prices in the United States edged down over the past week, due partly to the spillover effect from a decline in hot-rolled coil to below $34 per hundredweight ($680 per short ton) last week.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil fell by 50 cents to $41.50 per cwt on Thursday April 18 from $42 per cwt the prior week.The domestic...Read More
Prices for most foreign flat-rolled steel imported into the United States have continued to trend lower, with offshore material becoming less attractive due to falling domestic prices.That's especially true in the case of hot-rolled coil, where US prices have fallen below $680 per short ton ($34 per hundredweight) for the first time since late February."In today's market, it's hard to put a deal t...Read More
RAPAPORT... Dino Rambidis will replace Orin Baranowsky as chieffinancial officer of Stornoway Diamond Corporation."Dino...is a seasoned leader with extensive financialexperience, and is a valuable addition to our leadership team," Stornoway CEOPatrick Godin said last week. Rambidis will take up his new position immediately, bringing with him over 30 years of experience in the financial indu...Read More
Indian secondary billet prices rose slightly in the week to Friday April 19, with supply remaining tight due to lower production.Fastmarkets MB's price assessment for domestic secondary billet was up by 100 rupees ($1) per tonne to 31,400-31,600 rupees per tonne ex-mill compared with the prior week's assessment of 31,300-31,500 rupees per...Read More
RAPAPORT... US jewelry companies are shutting their doors at a slowerpace, as the number of businesses leaving the sector declines by nearly two-thirds,according to the Jewelers Board of Trade (JBT). The number of jewelry businesses exiting the market dropped64% in the first quarter versus the same period a year ago, to 125. Retailersconstituted 100 of those - 65% fewer than last year, while the n...Read More
RAPAPORT... Chow Tai Fook's sales increased in the fourth quarter, amida rise in demand for gold products and stronger consumer sentiment on themainland. Retail sales jumped 24% in mainland China in the threemonths ending March 31, while same-store sales - at branches open for at leastyear - climbed 9%, the jeweler reported last week. Hong Kong and Macau retailsales increased 7% during the period,...Read More
RAPAPORT... Signet Jewelers is laying off an undisclosed number of employeesfrom its Ohio and Dallas locations, after it failed to find enough interest ina voluntary exit package it offered workers. The cuts are part of a cost-saving effort the retailer hasbeen instituting over the past several months in line with its transformationplan. "In order to make our company more agile and efficient andt...Read More
China has reached peak annual steel consumption of 850-900 million tonnes, according to the China Iron and Steel Association (Cisa).The country consumed 870 million tonnes of steel in 2018 and "such a level will last for several years" as the country's peak period of steel consumption, Cisa vice chairman Chi Jingdong said recently at the 17th International Steel Market and Trade Conference in Nanj...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.As Indonesia heads for the polls on 17 April, Wood Mackenzie's research director Andrew Harwood provides the following commentary:"We predict that President Jokowi will once again defeat his 2014 opponent, Prabowo Subianto, and secure...Read More
Russia's Alrosa, the world's top diamond producer by output, is extending the life of its Aikhal mine to 2044 by digging deeper into the ground, in a project estimated to cost about RUB 10 billion ($16m).The 300 metres underground extension, the company said, will add almost 20 million carats to the raw material base of the Aikhal mining and processing division, allowing it to keep annual outpu...Read More
Brazilian steelmaker and miner Usiminas maintained its production target of 7.5-8 million tonnes of iron ore in 2019, despite uncertainties that surround the start of operations at two plants needed to reach that volume, the head of its mining unit, Carlos Rezzonico, said on Friday April 19.The company's iron ore output was 5.65 million tonnes last year.Licensing for the mining industry in Brazil...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 transaction: iron oreIron oreVale, Beijing...Read More
Trading activity for iron ore pellets in the seaborne market appeared to pick up last week while that for concentrate remained relatively muted.PelletsThe weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was at $128.08 per tonne cfr China last Thursday April 18, up $0.58 per tonne from the preceding week.A number of transactions involving 64% Fe Jindal pellets took place at $117-120 per ton...Read More
Eastern promise for PolarXSPONSOREDpolarxThe company has 24 drill rigs operating throughout the Curaçá Valley, including 11 within Vermelhos and 13 within Pilar.Ero is the latest vehicle of copper exploration legend David Strang, who is president and CEO.Eastern promise for PolarXSPONSOREDpolarxDrilling at Vermelhos has resulted in meaningful increases in previously modeled thickness...Read More
Eastern promise for PolarXSPONSOREDpolarxLos Helados is a large copper-gold porphyry deposit in Chile's Region III, comprised of adjacent mineral titles in Chile and Argentina. Upon completion, the spinco will hold about 63% of Los Helados and a portfolio of exploration interests. The remaining 37% interest is held by its exploration partner Pan Pacific Copper, operator of the Caserones mine some...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade.Crude oil gained $1.70 to $65.70 after the United States halted waivers to countries that are importing oil from Iran. Energy stocks are expected to open higher.Halliburton added $0.87 to $32.00 after reporting higher than consensus first quarter sales and earnings.Kimberly Clark (KMB $12...Read More
The price of antimony in China stalled in the latest assessment period ended on Wednesday April 17, with the country's suppliers holding offers relatively firm as consumer enthusiasm in restocking waned.Fastmarkets' price assessment for MMTA standard-grade II antimony, delivered duty-paid in China, was assessed at 44,000-45,000 yuan ($6,573-6,722) per tonne on Wednesday, flat week on week.The Chin...Read More
Key data from the pricing session in China on Friday April 19.Key driversLow liquidity and few deals heard over the past week. Some Chinese exporters are considering reducing their offer prices to compete with lower-priced, off-grade material. Most kept their offer prices unchanged from a week earlier, however. Prices are likely to face headwinds in the form...Read More
An overview of the minor metals markets and the reasons for any price moves.[Note: Minor metals prices in...Read More
If you've been following the news lately, you've heard that popular ride-hailing app Uber is planning to go public. Uber is reportedly seeking to raise about $10 billion in a deal that could value the ride-hailing giant at $100 billion. Experts predict it could be one of the biggest IPOs in history. This news got me thinking about the rise of ride-hailing services over the past few years and how m...Read More