The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese steel scrap prices were supported by firm downstream steel prices earlier this year, but they fell sharply over the second half of May. The drop in scrap prices in the latter half of the month came after authorities signalled a wish to cool down commodity prices, including those for steel and steelmaking raw material...Read More

RAPAPORT... De Beers increased prices of goods above 2 carats at this week's sight amid shortages of rough alongside strong polished demand.Prices rose around 5%, and more in some categories, market insiders told Rapaport News on Monday. Near-gem items also saw significant increases, while prices for other stones under 2 carats were either stable or slightly up."They seem to have picked areas...Read More

RAPAPORT... Italian watch association Assorologi has become the second major timepiece group to join the World Jewellery Confederation (CIBJO) this year.Associazione Italiana Produttori e Distributori di Orologeria represents manufacturers and importers of watches and watchmaking supplies, CIBJO said Monday. It is also the industry's representative at Confcommercio, an Italian cross-sector tr...Read More

RAPAPORT... Hong Kong authorities busted smugglers transporting diamonds and other jewels estimated to be worth HKD 25 million ($3.2 million) in the largest case of its kind detected by the municipality's customs department.Officers discovered the illegal contents when they stopped an outbound truck for inspection at the Sha Tau Kok control point last week, the Hong Kong Customs and Excise Departm...Read More

RAPAPORT... It's almost as if wholesalers want to say, "Pinch me." Sales have been so consistent and strong since January that they're comparing it to Christmas. Even as inventory prices keep rising, they are savoring this welcome sales streak - for now.New York: big business"We're breaking records every month," said Yoni Nitzani, owner of wholesaler Polo Gem Co. in New York. "Every month has...Read More

(IDEX Online) - A flawless 10.59-carat diamond ring sold for $968,000 at Phillips Hong Kong, well above its pre-sale estimate of $700,000 to $850,000.The D-color type IIa Asscher-cut stone was cut from a 30.80 carat rough diamond recovered at the Letseng mine, Lesotho.Phillips said the 165-lot Jewels and Jadeite sale on Saturday (5 June) raised $6.8m in total, with 76 per cent sold by lot, but onl...Read More

(IDEX Online) - Alrosa expects to increase rough diamond prices, as consumer demand outstrips slowing supply.The Russian state-controlled miner has a stockpile of more than 23 million carats, and has a 31.5m carats target for 2021."Demand for diamonds from retail is very high," said the company's CEO Sergei Ivanov (pictured). "So the scale of orders coming from the midstream, as I dare to ass...Read More

Physical commodities trading company Trafigura Pte Ltd and agricultural commodities firm Yara International ASA have signed a memorandum of understanding (MoU) to collaborate on the development and promotion of ammonia as a clean fuel in shipping, Trafigura said. The companies have also agreed to explore opportunities to work together on certain clean green and blue ammonia fuel infrastructure and...Read More

(IDEX Online) - A new trade fair launches this September in Denver, Colorado, USA.The HardRock Summit will feature gemstones and jewelry at Sparkle & Joy, and minerals, fossils and meteorites at a parallel event called Evolution.Organizers are expecting 400 exhibitors altogether at the Colorado Convention Center (pictured) and the nearby Sheraton Denver Downtown Hotel.Co-founders of HardRock a...Read More

China's nickel sulfate price widened upward amid a continuous shortage of mixed hydroxide precipitate (MHP) in the week to Friday June 4 although the availability of alternative raw materials continues to restrain the price rise, sources told Fastmarkets. Fastmarkets assessed the nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China at 33,000-34,000 yuan ($5,154-5,311) per tonne on F...Read More

Nickel and zinc's three-month prices lost more than 1% during the morning session on the London Metal Exchange on Monday June 7, amid a general decline of the base metals complex following the release of worse-than-expected United States employment data on Friday.Nickel's three-month price was at $17,765 per tonne on Monday at 9am, a 1.4% fall after edging slighter higher to close at $18,020 per t...Read More

Base metals prices on the London Metal Exchange were mainly lower this morning, Monday June 7, after the rally sparked by Friday's worse-than-expected US employment report ran out of steam.China's imports climbed 51% and exports were up 28% year on year in May.The US Dollar Index weakened after Friday's disappointing employment report in the United States.Base metalsLME three-month base metals pri...Read More

Fresh deals for the supply of aluminium ingot to main Japanese ports (MJP) in the third quarter were concluded by Friday June 4 at a premium of $185 per tonne cif MJP on top of the London Metal Exchange cash price, market sources told Fastmarkets.Several market participants reported that the deals were done between producers and traders as well as consumers. These were agreed for small tonnages of...Read More

After concluding five-year sunset reviews, the United States International Trade Commission (ITC) has voted to extend anti-dumping (AD) duties on imports of cut-to-length carbon steel plate from China, Russia and Ukraine."Revoking the existing anti-dumping duty orders... would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time," the ITC wro...Read More

Hot-rolled coil prices in the United States set a record for the second time this month, while the coil market continues to be supported by lean supply and sustained demand.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $82.69 per hundredweight ($1,653.80 per ton) on Monday June 7, up 0.40% from $82.36 per cwt on Friday and up 2.78% from $80.45 per cwt on May 28. The...Read More

Prices for carbon steel plate in the United States strengthened for the first time in three weeks while distributors mostly failed in attempts to book spot deals before the next round of anticipated price increases from mills. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US was at $69.50 per hundredweight ($1,390 per short ton) on Friday June 4, up...Read More

ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on Monday June 7."ArcelorMittal confirms that it has submitted an offer to acquire the Hayange and Ascoval steel plants which are currently owned by GFG Alliance," ArcelorMittal said.A deadline for publication of the provisi...Read More

Base metals prices on the London Metal Exchange were mainly lower this morning, Monday June 7, after the rally sparked by Friday’s worse-than-expected US employment report ran out of steam.* China’s imports climbed 51% and exports were up 28% year on year in May.* The US Dollar Index weakened after Friday’s disappointing employment report in the United States.Base metalsLME three-mo...Read More

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.Visa gained $2.44 to $232.58 after Piper Sandler upgraded the stock from Neutral to Overweight.Biogen added $8.96 to $297.10 prior to news later today from the FDA on the company's application for approval of its Alzheimer's drug.Nutrien added $0.47 to US$65.00 after announcing a 500,000 ton...Read More

Export pig iron prices from Brazil remained strong during the week to Friday June 4 on further sales, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $620 per tonne on Friday, unchanged week on week.A new sale from the south of Brazil was heard...Read More