China's hot-rolled coil prices declined further on Monday June 17, with mills coming under pressure to secure orders.DomesticEastern China (Shanghai): 3,750-3,780 yuan ($541-546) per tonne, down 30-50 yuan per tonneNorthern China (Tianjin): 3,740-3,750 yuan per tonne, down 40 yuan per tonneA few mills gave discounts to their long-term contract customers during the day to secure orders for delivery...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.Comstock Resources today tightened its grip on the Haynesville basin with a US$2.2 billion cash-and-stock deal to buy privately-held Covey Park.Robert Clarke, director, US Lower 48, at global natural resources consultancy Wood Mackenz...Read More
China's rebar prices tumbled on Monday June 17 after the billet market plunged over the weekend.Domestic Eastern China (Shanghai): 3,820-3,850 yuan ($552-556) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,680-3,730 yuan per tonne, down 100 yuan per tonneRe-rollers stopped production in Tangshan's Fengrun district as instructed by local authorities in an effort to stem emissions, res...Read More
A top Japanese steelmaker expects hot-rolled coil prices in Asia to rebound soon because they are nearing a bottom, a source told Fastmarkets this week.While it has lowered its offers for its July-shipment HRC to the key Southeast Asian market, in response to competitive offers from other regional producers, it does not expect prices to fall much further in the wider region."Due to weak demand in...Read More
RAPAPORT... World Diamond Council (WDC) president Stephane Fischlerurged Kimberley Process (KP) member governments to reach an agreement on trade-reform issues, including expanding thedefinition of a conflict diamond. "We are relying on each of you, during this final year of the review and reform process, to show the consumers of diamonds that the Kimberley Process can unite around a program...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... The US polished-diamond trade slowed in April, with importsdeclining and exports stable. The drop in import value reflects both a lower volumeand average price.US Diamond Trade Data for April 2019 Millions unless stated otherwiseRead More
Hot-rolled coil prices in Vietnam have continued to fall because of limited demand and lower offers from domestic producer Formosa Ha Tinh Steel Corp.Fastmarkets' weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $493-495 per tonne cfr for the week to Monday June 17, down...Read More
RAPAPORT... The US jewelryindustry sees social media as instrumental in overcoming digital challenges, a recent report by JCK found. Ofthe 500 respondents surveyed in the JCK's 2019 State of the Jewelry Industry Report, 46% identified connecting with clients viasocial media as their top digital strategy. Some 39% chose non-traditionaladvertising as the most effective approach and 37% consider...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 transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
RAPAPORT... US retail sales rebounded in May as the economicand financial outlook stabilized, according to the National Retail Federation(NRF). Total purchase value grew 3.2% year on year, with salesrising in nearly all categories, the trade organization reported last week.Retail sales increased 0.5% over the previous month, after the government revisedits April data. It initially reported a...Read More
Speaking at the opening session of the Kimberley Process Certification Scheme Intersessional Meeting (KPI) in Mumbai, World Diamond Council (WDC) President Stephane Fischler has called on Kimberley Process-member governments to do what is necessary to safeguard the interests of their mining communities and consequently optimize the developmental potential of their natural resources. "We must agre...Read More
The Kimberley Process Certification Scheme (KPCS) Intersessional Meeting 2019 kicked off in Mumbai, India, on Monday, June 17 with a welcome speech by (Mr.) Alok Vardhan Chaturvedi, Director General of the Foreign Trade (DGFT) who is the current KP Chair on behalf of the government of India. The two other speakers were (Mr.) Stephane Fischler, President of the World Diamond Council and (Mr.) Shami...Read More
Physical iron ore prices dropped back on Monday June 17 after staying above $110 per tonne cfr last Thursday and Friday, but premiums remained robust for Pilbara Blend fines.MB 62% Fe Iron Ore Index: $108.21 per tonne cfr Qingdao, down $2.09 per tonne. MB 62% Fe Pilbara Blend Fines Index: $107.01 per tonne cfr Qingdao, down $2.09 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $110.75 per tonne c...Read More
The low-vol pulverized coal injection (PCI) segment of the seaborne coking coal market - particularly the fob Australia one - tumbled on Monday June 17 with a cargo changing hands nearly $10 per tonne below prevailing levels.A miner sold a shipment of low-vol product in that segment, scheduled for loading over July 8-17, to a Chinese trader at $121.28 per tonne fob Australia via a tender during th...Read More
Altech ticks boxes on path to production SPONSOREDaltech chemicalsMembers of trade unions 1, 2 and 3 had voted in favour of strike action last month, saying the state-owned miner's final offer had made "a mockery" of their demands. Workers and their supporters marched "for dignity" in Calama on the weekend.The company is planning to cut more than 1,000 jobs as it transitions the 104-year-old...Read More
The market for pig iron in the United States was calm and weak in the week to Friday June 14 as both buyers and sellers were not ready to negotiate deals, sources told Fastmarkets. Fastmarkets' import price assessment for pig iron in the US was $345 per tonne cfr on June 14, compared with $345-350 per tonne cfr last week. A workable buyer level "would be around $340-345 per tonne cfr, bu...Read More
Seaborne iron ore concentrate and pellet prices rose last week in line with a general uptrend in the market for the steelmaking raw material.ConcentrateThe weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $118.49 per tonne cfr China last Friday June 14, up by $6.47 per tonne week on week.The daily Fastmarkets MB 65% Fe Iron Ore Index averaged $120.98 per tonne cfr China last week,...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Equity markets are expected to be quieter than usual prior to news on interest rates from the Federal Reserve to be released on Wednesday.Array Biopharma jumped $17.87 to $47.46 after Pfizer offered to buy the company for $48.00 per share cash. Value of the deal is $11.4 billion.Walt Disn...Read More
With the exception of nickel and tin that were little changed, base metals prices on the Shanghai Futures Exchange were all down during morning trading on Monday June 17 following the release of disappointing Chinese data at the end of last week. Tin was unchanged, nickel edged up by 0.1% while the rest weakened: copper (-0.5%), aluminium (-0.7%), lead (-0.7%) and zinc (-0.5%).The broadly weak sho...Read More