The European Commission (EC) imposed definitive safeguard measures on 28 imported steel products in February, replacing the provisional measures that had been in place since July 2018.The EC opened the safeguard case in an attempt to prevent steel shipments being redirected to the EU after the United States imposed import tariffs as part of its Section 232 investigation. Almost one year after the...Read More
Gold rally has attracted far too many bulls for comfort.Gold long positions have dramatically risen while shorts have declined.A pullback or "pause that refreshes" is needed to cool the enthusiasm.Gold has stolen the investment spotlight after a stellar rally which took the continuous contract price to a new 12-month high last week. Consequently, gold is receiving the front-page headline...Read More
Silver miners have been struggling with low prices, and falling ore grades aren't helping. Matt explains...by Matt from Silver Fortune via Silver FortuneSilver miners have been struggling with low prices, and falling ore grades aren't helping...Read More
Zinc's three-month price on the London Metal Exchange was subdued at the close of trading on Wednesday June 19, drifting below the nearby $2,500-per-tonne support level after steady inflows and dwindling demand continue to pressure the galvanizing metal's outright price.Additionally, the metal's cash/three-month spread remains in a sizable backwardation - recently at $116.50 per tonne - placing th...Read More
Global demand for corn and soybeans is largely a function of the number of mouths to feed and what those mouths are fed.Corn came close enough to hit our first technical price target of $4.60 per bushel for us to consider our first target reached.Because they require a shorter growing season than corn, soybeans are lagging as farmers plant beans in acres they were unable to plant corn.Gold is maki...Read More
Physical iron ore prices continued to advance on Wednesday June 19 amid big gains in the futures markets following amelioration of trade tensions between China and the United States.MB 62% Fe Iron Ore Index: $114.08 per tonne cfr Qingdao, up $1.80 per tonne. MB 62% Fe Pilbara Blend Fines Index: $112.88 per tonne cfr Qingdao,up $1.80 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $115.81 per tonn...Read More
The seaborne coking coal market regained its downward momentum on Wednesday June 19 with participants mostly fixated on their bearish outlook for prices.A July-loading cargo of branded materials was traded on the Global Coal trading platform at $195 per tonne fob Australia during the day, various sources confirmed.A shipment of premium mid-vol hard coking coal, also scheduled for loading in July,...Read More
The price of rebar produced and delivered in Northern Europe widened upward slightly this week despite the market being largely quiet with many buyers waiting for the renewal of EU import quota balances on July 1, sources told Fastmarkets on Wednesday June 19.From July 1, 2019 until June 30, 2020, 301,538 tonnes of Turkey-origin rebar will be permitted to enter the EU tariff-free. After this quota...Read More
Chinese nickel premiums jumped to record highs, creating expectations that global premiums will follow them higher while metal is drawn to China from Europe. Arbitrage opportunities push up both Chinese nickel premiums European premiums hold up despite some supply being diverted to Asia US premiums steady but briquette business seen as weak Chinese premiums at highest everIn China, the in-warehous...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday June 19 that are worth another look.The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium. Chinese nickel premiums jumped to record highs, creating expectations that global premiums will follow them higher while metal is d...Read More
Prices for spent lead-acid batteries in the United States inched lower over the two weeks to Tuesday June 18, due to oversupply and weak demand at the beginning of the seasonal summer slowdown.Fastmarkets AMM assessed the price for whole lead-acid batteries delivered to smelters at $30-32 per hundredweight on June 18, down by 3.1% from $31-33 per cwt on June 4. This marks the price's lowest s...Read More
Zinc's three-month price on the London Metal Exchange was subdued at the close of trading on Wednesday June 19, drifting below the nearby $2,500-per-tonne support level after steady inflows and dwindling demand continue to pressure the galvanizing metal's outright price.Additionally, the metal's cash/three-month spread remains in a sizable backwardation - recently at $116.50 per tonne - placing th...Read More
RAPAPORT... Transparency is a growing goal for wholesalers, but there'sanother "T" word that may be even more important: trust. In an industry definedby long-abiding relationships, assurances of ethical sourcing depend heavily ona seller's reputation for integrity. Opening up Transparency is now a "definite trend," according to EricMor, president of New York-based wholesaler Abe Mor Diamond Cutter...Read More
RAPAPORT... Jewelry is one of three categories in the luxury sectorexpected to see solid growth in 2019, as domestic consumption in China and theUS increases, according to Bain & Company. Leather goods and handbags will also see sustained growththroughout the year, while watches will begin to show recovery in specificregions, including Europe. However, Hong Kong, the largest consumer mark...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
Global tin premiums were flat across the week ending Tuesday June 18, despite easing nearby spreads prompting a slight uptick in spot business at lower premium levels in Europe, while supply concerns and a closed import window capped premium ranges in the United States and Asia.European premiums flat despite emergent downside pressureIn Europe, Fastmarkets assessed the premium for 99.9% standard-g...Read More
RAPAPORT... Royal Asscher has launched two new patented diamond cuts internationally,in honor of the brand's 165th anniversary, it said Monday. The Royal Asscher Oval and the Royal Asscher Cushion jointhe Netherlands-based jeweler's other two cuts, the Royal Asscher RoundBrilliant and the Royal Asscher, which has become a widely used generic diamondcut. Royal Asscher sells its diamond-jewelr...Read More
RAPAPORT... A Botswana employers' advocacy group has called out De Beers for failing to providesubstantial opportunities for the country's businesspeople. "The benefits deriving from the diamond industry haveunfortunately not been enjoyed by Batswana entrepreneurs," Gobusamang Keebine,president of Business Botswana, said in a speech during the fifthregional High Level Consult...Read More
An increase in Northern European buyers' spot market activity improved zinc premiums in Europe this week, while the closed import arbitrage window is weighing on zinc premiums in China and the United States' lead and zinc spot markets were quiet. Northern European zinc consumers acquired units from the spot market this week, leading premiums to rebound from record low levels. A major Indian lead...Read More
Shamiso Mtisi, the Zimbabwean lawyer who heads the Kimberley Process (KP) Civil Society Coalition (CSC), who addressed the Opening Session of the Kimberley Process Intersessional Meeting (KPI) in Mumbai, India, emphasized that the discussions on the broadening of the KP scope, meaning the broadening of the term 'conflict diamonds' to included human rights violations, should not raise anx...Read More