Bearish macroeconomic indicators pushed prices to trade lower on the London Metal Exchange on Tuesday November 2.Chinese manufacturing purchasing managers' indices (PMI) in recent days have indicated slower growth month on month, which has helped to drive bearish sentiment in the metals market. "It does look as though some major parts of China's economy are struggling," Fastmarkets' head of...Read More

(IDEX Online) - Petra Diamonds says illegal incursions at its Williamson mine, in Tanzania, are averaging more than one a day.The UK-listed miner announced in May that it had agreed a $6m settlement over alleged human rights breaches at the deposit, which is currently mothballed and classified as "an asset held for sale for financial reporting purposes".In a quarterly update to alleged human right...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly weaker on the morning of Tuesday November 2, with concerns about headwinds affecting the Chinese economy denting sentiment. A 9.9% price drop in the January iron ore futures contract on the Dalian Commodity Exchange is weighing on sentiment. Iron ore prices were recently at 567 yuan ($89) per tonne, down fro...Read More

(IDEX Online) - Exclusive Lebanese jeweler Mouawad says it recreated the late Princess Diana's engagement ring for a new biopic about her life.It's described as a faithful copy, although the 1981 original featured a 12-carat oval blue Ceylon sapphire and the copy has a 7.25-carat gem.The ring, and other pieces of jewelry, were made for Spencer, starring US actress Kristen Stewart, charti...Read More

Sentiment in the European hot-rolled coil market was largely bullish on Tuesday November 2, supported by a slight recovery in demand amid news of an agreement between the US and the EU on Section 232 tariffs, sources told Fastmarkets.On October 30, the European Union and the United States agreed to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quo...Read More

Domestic steel rebar prices in Russia's Central Federal District around Moscow continued to rise during the week to Monday November 1 on depleted stocks and limited supply from the mills.Fastmarkets' assessment of the price for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 75,000-77,000 roubles ($1,053-1,081) per tonne cpt on Monday, including 20% value-added tax. This was up by...Read More

PolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningVale said London-based certification company Intertek Group had lent independent third-party limited assurance t...Read More

Continued declines in the Chinese steel billet market have caused many Southeast Asian buyers to shy away from importing the semi-finished product this week, sources told Fastmarkets on Tuesday November 2.Chinese billet import prices continued to crash on Monday and Tuesday, led by weakening ferrous futures markets across the Shanghai Futures Exchange (SHFE), together with growing volumes of iron...Read More

Export prices for Chinese steel cold-rolled coil and hot-dipped galvanized coil extended their sharp decline in the week ended November 2; domestic prices also have yet to stem their declines.Trading liquidity for Chinese CRC and HDG exports was muted because the falling market kept buyers in wait-and-see mode.The price decline also prompted some mills and traders to halt offers.Most traders expec...Read More

Despite power supply issues involving intermittent blackouts for the first three weeks of the month, concentrate production in October amounted to 16,211 tonnes, just shy of the phase one production target of 16,666t.The strong performance prompted Ivanhoe to narrow guidance higher to 90,000-95,000t, up from the previous range of 85,000-95,000t.The TSX-listed miner said the phase two expansion was...Read More

Updating comments from last week, now armed with more production numbers from companies which had since reported, Jefferies said copper supply was only slowly increasing and all recent changes to production guidance had been downward revisions, citing Antofagasta, Anglo American, Freeport-McMoRan, MMG, Rio Tinto, Vale and Southern Copper.Analyst Christopher LaFemina said yesterday the majors...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly weaker on the morning of Tuesday November 2, with concerns about headwinds affecting the Chinese economy denting sentiment.* A 9.9% price drop in the January iron ore futures contract on the Dalian Commodity Exchange is weighing on sentiment.* Iron ore prices were recently at 567 yuan ($89) per tonne, down fr...Read More

Turkish steel scrap import prices fell sharply on Tuesday November 2, in line with the the latest bookings and amid increasing freight costs and limited finished steel sales to Turkey's key export outlets, market participants told Fastmarkets. On Tuesday, a steel mill in the Marmara region booked a deep-sea cargo from Puerto Rico, comprising HMS 1&2 (80:20) at $494 per tonne and shredded scrap at...Read More

Seaborne coking coal prices were relatively stable on Tuesday November 2, with no trades heard in the market, although Chinese domestic coke prices in certain provinces started to fall due to rising inventories and reduced costs.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $600.25 per tonne, unchangedHard coking coal, cfr Jingtang: $525.23 per tonne, unchangedPremium hard coking coal...Read More

Prices for steel scrap imported into China decreased sharply due to the continued drop in both spot and futures prices for finished steel products in the country on Tuesday November 2, sources told Fastmarkets.China import price tumbles amid bearish sentiment dominating the steel marketsChinese mills cut domestic scrap buy prices againTaiwan secures containerized scrap cargoes at $475 per tonne cf...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade. Nutrien advanced $1.45 to US$73.00 after reporting higher than consensus third quarter revenues. The company also raised guidance.Mosaic dropped $1.13 to US$40.33 after reporting less than consensus third quarter revenues and earnings. Clorox added $9.50 to $172.90 after reporting higher...Read More

Seaborne iron ore prices fell on Tuesday November 2 due to weak demand outlook caused by narrowing steel margins and ongoing sintering restrictions, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $95.77 per tonne, down $7.66 per tonne 62% Fe low-alumina fines, cfr Qingdao: $96.67 per tonne, down $7.99 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $67....Read More

The north China steel production hub of Handan city in Hebei province has implemented stricter production cuts at steel mills from Monday November 1 to November 7.The move has been made is to mitigate weather-influenced air pollution over the period and comes just after the city finished implmenting steel production curbs in September and October to limit the crude steel output in line with China'...Read More

China's domestic rebar prices fell below $800 per tonne on Tuesday November 2 after the most-traded January futures contract on the Shanghai Futures Exchange fell to its lower limit for the day. Domestic Eastern China (Shanghai): 5,080-5,110 yuan ($794-799) per tonne, down by 40 yuan per tonneRebar futures tracked the movements of the January iron ore futures contract on the Dalian Commodity Excha...Read More

Brownwood, Texas, today is bustling like never before. The old hotel downtown is being renovated after sitting in decay for decades.The restaurants are packed. Houses are selling for 20% more than their Zillow values. The banks are experiencing a big influx of funds. New residents are pouring in from around the country. Everyone is making money. It's a charming and happy place, except that everyon...Read More