Weak United States aluminium premiums and increased ocean shipping costs led to a continued narrowing of the estimated arbitrage between Southeast Asia warehouses and the US Midwest.Fastmarkets assessment for the average monthly midpoint of the P1020 US Midwest aluminium premium was at $418.87 per tonne in April, flat from March.Oversupply has created pressure on the US premium over the month, nar...Read More
Chinese nickel premiums diverged from those in Europe and the United States on Tuesday April 30, hitting a 13-month high on arbitrage-profit opportunities emanating from an open import window.All US nickel premiums slid on surplus stock, following an almost two-year low in the European nickel briquette premium.Chinese premiums surge to 13-month high on open import window Ample scrap supply f...Read More
Comex copper prices plummeted during the trading session on Wednesday May 1, with investors bearish before the US Federal Reserve rate decision expected later today.The copper price for July settlement on the Comex division of the New York Mercantile Exchange tumbled by 5.55 cents to $2.8485 per lb. "The Fed is widely expected to reiterate its dovish stance despite the fact that it is in a bit...Read More
The UK government has agreed to provide long steel producer British Steel a loan worth ?120 million ($156 million) to cover the annual bill from the EU for the company's carbon emissions, government business secretary Greg Clark told the UK Parliament on Wednesday May 1."British Steel approached my department earlier this year to explain that the absence of the expected 2019 free allowances left...Read More
Steel H-beam prices in Northern and Southern Europe moved down this week on lower feedstock costs and weaker demand, sources told Fastmarkets on Wednesday May 1.Fastmarkets' assessment of the price for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe moved down to ?,?590-625 ($661-700) per tonne delivered on May 1, from ?,?590-635 per tonne delivered on April 24.High stock leve...Read More
The Northern European domestic price for mesh-quality wire rod has widened downwards by ?,?5 per tonne week-on-week, amid low demand, market participants told Fastmarkets on Wednesday May 1. Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was ?,?525-550 ($588-616) per tonne delivered on Wednesday, down from ?,?530-550 per tonne on April 24. "Dem...Read More
The price range for rebar produced and delivered in Northern Europe moved down week-on-week amid low demand and reduced market activity, sources told Fastmarkets on Wednesday May 1.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?530-545 ($594-611) per tonne delivered on Wednesday, down from ?,?535-550 per tonne delivered on April 24. A number of countri...Read More
RAPAPORT... It's not often that a jewel sells for almost double itspre-auction estimate, but that happened this week with a rare Kashmir sapphireat Bonhams. The 17.43-carat stone fetched GBP 723,062 ($944,713), or close to$54,000 per carat, beating its high valuation of GBP 400,000 ($521,440). The cushion-shaped, vivid-blue stone dates to the late 19thor early 20th century, and was formerly o...Read More
RAPAPORT... Jewelers of America (JA) has announced the winners of its 29thannual CASE Awards for jewelry design, recognizing retail members whose piecesfeature creativity, artistry, style and excellence. A panel of judges chose the honorees from a group of 54applicants, evaluating entries' overall design, marketability, practicalityand wearability of the design, and manufacturing quality. "Th...Read More
The price for rebar produced and delivered in Southern Europe was unchanged over the past week, amid continued low market activity, market participants told Fastmarkets on Wednesday May 1.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?500-510 ($560-571) per tonne delivered on Wednesday, unchanged from April 24. "There has been only a little business in...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.Wood Mackenzie's research analysts have over 40 years' experience understanding and forecasting natural resources industry performance across exploration, extraction and production, refining and financial markets.We produce annual, ha...Read More
RAPAPORT... Taking a break from the self-adulation typical of awards ceremonies, the Couture show has invited exhibitors to showcase the worst piece of jewelry they've ever designed. The WTF?! Awards will see applicants describe their designs with the opening sentence, "So what I was thinking was..."They have until May 15 to submit their designs, and the Couture community will vote on the win...Read More
RAPAPORT... Mejuri, a luxury-jewelry brand that sells directly to consumers online, has raised $23 million from investors as it looks to expand its operations.The Canada-based company will use the funds to open more physical stores, develop the business internationally, and invest in branding and customer experience, it said. The startup operates primarily as ane-commerce site, but also...Read More
Chinese steel plate export prices dropped in the past week as mills chased orders amid sparse trading.Fastmarkets MB's assessment for June shipments of commercial-grade, chromium-added plate was $540-547 per tonne fob for the week ended Tuesday April 30, down $3-5 per tonne from $545-550 per tonne fob the week prior.An eastern China-based trader sold some plate of small tonnages (less than 1,000 t...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.China's influence on global commodity markets is unparalled. It's a matter of scale.China imports more than 60% of domestic demand for oil, gas and iron ore. Its imports of oil, LNG and coal account for around a fifth of glo...Read More
The stainless steel scrap market in the United States took another major step downward on Tuesday April 30, with prices for the 300-series grades dropping across the board while those for the chrome grades appeared poised to fall in the third quarter. "Domestics have softened, I think they would like to drop more, but the flow will stop," one dealer said, indicating that earlier attempts to drop p...Read More
Turkish steel mills stayed silent on Wednesday May 1, due to a public holiday in Turkey and across much of Europe, with no new deals heard, sources told Fastmarkets.Those who were still active in the market described it as "closed" given the low level of trading.Yesterday the Fastmarkets' daily scrap indices fell by $4.49 per tonne for material from Northern European and the United State...Read More
Australian lithium miner Kidman Resources Ltd said on Thursday it received a takeover offer from conglomerate Wesfarmers Ltd in a deal valued at about A$776 million ($544 million).The offer of A$1.90 per share represents a premium of 47.3 percent to Kidman's last closing price.Kidman said its board decided that the proposal was in the best interests of shareholders and would engage further with We...Read More
How to monitor and manage your Tailings Storage FacilitySPONSOREDisometrixWhite Gold Corp a force in Yukon as exploration drive reaps dividendsSPONSOREDwhite gold corpQuality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumAltech ticks boxes on path to production SPONSOREDaltech chemicals"Today's PEA demonstrates the La Mina VMS project is a high-return, capital efficient and...Read More
Altech ticks boxes on path to production SPONSOREDaltech chemicalsJCAP sent letters to the British Columbia Securities Commission and the US Securities and Exchange Commission alleging serious issues concerning misleading claims about the proposed project.Read More