(IDEX Online) - Diamond traders from Israel are flocking to set up offices in Dubai, after the historic signing of a normalization agreement.Thirty-eight Israelis have approached the Dubai Multi Commodities Centre (DMCC), home to the Dubai Diamond Exchange.Dubai and Israel are both among the world's top five centers for diamond trading (the others are Belgium, India and China).But until now d...Read More

Peruvian copper production volumes fell back into decline in August due to lower output from Southern Peru Copper Corp and Antamina, but the country continued to produce more zinc and tin, according to data from the ministry of energy and mines, Minem, published on Wednesday October 7.Peru produced 193,852 tonnes of copper in August, a 10% year-on-year decrease from 215,426 tonnes. Output was also...Read More

The world's largest metals stockpile is becoming more difficult to finance. That is a problem for those who trade it, and for metal markets in general.Shanghai's Yangshan bonded zone is currently home to at least 245,000 tonnes of copper, more than double the amount housed in all London Metal Exchange warehouses combined, as well as heaps of nickel, zinc and aluminium worth $2.1-2.3 billion at tod...Read More

Members of the Mine Workers Union at Candelaria, a Chilean copper-gold-silver mine 80%-owned by Lundin Mining, have decided to go on strike after a 5-day mediation for labor negotiations ended without success, the company said late on Wednesday October 7.According to the mining company, the trade union represents about 350 workers. The previous labor agreement with them expired on September 30. No...Read More

The three-month nickel price on the London Metal Exchange was the standout performer during morning trading on Thursday October 8, with hopes of an impending US stimulus package supporting the complex, while a fresh cancellation of 260 tonnes kept LME tin futures firmly above $18,000 per tonne. Nickel's underlying price on the LME was recently trading at $14,760 per tonne, climbing just over 1.5%...Read More

Steel billet prices in Turkey have been falling over the past seven days due to limited demand and a downturn in scrap values, sources said on Thursday October 8.Turkish steel mills had been staying away from deep-sea scrap purchasing since the week prior, especially with China absent from the market. The country's steelmakers booked three deep-sea cargoes at the end of last week, putting the HMS...Read More

ArcelorMittal will permanently close its Krakow steelworks' hot area due to the dramatic effects of Covid-19 on the European steel market, but coke plant and rolling mills will remain operational, the company said on Thursday October 8. ArcelorMittal said that despite the recent rebound in steel demand in Europe, it remains considerably below pre-pandemic levels. "The Covid-19 pandemic has had unp...Read More

Steel billet and rebar prices were stable in Egypt in the week to Thursday, October 8 while demand failed to improve because buyers were expecting prices to fall, sources told Fastmarkets.Demand for rebar and billet has been slow in the country since the imposition of a construction ban on May 25. Although, the Egyptian government decided to ease the rules of the ban on September 29.Buying was wea...Read More

American Pacific permitted to realise $2bn in valueSPONSOREDamerican pacific borate and lithiumPantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRamelius now among WA gold frontrunnersSPONSOREDramelius resourcesThe provisional agreement, which is expected to form the basis of a binding SPA in about a month - COVID-...Read More

Turkish rebar and wire rod export prices have gone down over the past week on weak demand and the downturn in scrap costs, sources said on Thursday October 8.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey was $440-450 per tonne on October 8, down from the $455-460 per tonne of last week.Turkish steel mills were reported to have reduced their of...Read More

Limited demand is keeping European plate producers from achieving substantial transaction price increases, sources say.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe was ?,?480-495 ($564-582) per tonne on Wednesday October 7, widening upward by ?,?5 per tonne from ?,?480-490 per tonne a week earlier.The assessment represents a few deals heard in the mark...Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The company said it did not expect a material impact on operations, including production or shipment of concentrate.Read More

American Pacific permitted to realise $2bn in valueSPONSOREDamerican pacific borate and lithiumPantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRamelius now among WA gold frontrunnersSPONSOREDramelius resourcesThe company welcomed recent moves by the US to reduce its reliance on foreign adversaries for critical mineral...Read More

Base metals prices on the London Metal Exchange were mixed this morning, Thursday October 8, while equity markets were mainly upbeat because US fiscal packages may still be forthcoming.* US President Donald Trump changed his tune on Wednesday, from postponing stimulus talks with the Democrats to encouraging them to pass a string of single rescue packages to targeted areas.* Likewise, with Democrat...Read More

Fastmarkets is proposing to launch a weekly Pakistan import shredded steel scrap index to provide transparency to a market whose global prominence was recently demonstrated by its robust performance even during the most testing conditions of the initial Covid-19 pandemic.Pakistan is the world's fourth-largest steel scrap importer, according to figures from the Bureau of International Recycling (BI...Read More

Turkish steel mills broke their silence in the deep-sea scrap market on Thursday October 8, booking two cargoes after achieving lower prices, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $285 per tonne and 25,000 tonnes of shredded at $290 per tonne cfr.The same mill also booked a Baltic Sea cargo, consist of 24,000.....Read More

Prices for steel scrap imported into Bangladesh in containers have gone down again over the past week, while those for bulk cargoes were steadier, market participants told Fastmarkets on Thursday October 8.Weaker scrap market sentiment across the globe in recent weeks, combined with unfavorable Bangladeshi steel prices, has led to mills in the country presenting scrap sellers with cheap bids over...Read More

Seaborne iron ore prices were stable with no visible activity on trading platforms or at Chinese ports on Thursday October 8, the last day of China's Golden Week holiday, while iron ore swaps gained slightly amid limited trading. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $123.47 per tonne, unchanged 62% Fe low-alumina fines, cfr Qingdao: $123.49 per tonne, unchanged 58% Fe fines high...Read More

Seaborne coking coal prices in the fob Australia market fell on Thursday October 8 amid limited demand, especially with China being absent, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $135.12 per tonne, down $2.48 per tonnePremium hard coking coal, cfr Jingtang: $145.10 per tonne, unchangedHard coking coal, fob DBCT: $111.02 per tonne, down $2.50 per tonneHard coking coal,...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.In the iron ore market, supply issues including heavy rains at the start of the year, followed by staffing problems during the Covid-19 pandemic, have affected exports from Brazil. This has helped Australia gain a larger market share, but since June, Brazilian export volumes have returned to levels last seen before the...Read More