(IDEX Online) - The authorities in Brazil have shelved claims by diamond billionaire Beny Steinmetz that global mining giant Vale misled its shareholders.Both parties embarked on a joint venture to extract iron ore for steelmaking from the vast Simandou resource, in southern Guinea.But the government concluded that mining rights had been obtained through bribery, and in 2019 a British court awarde...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 latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key themes – OPEC+ production, Covid-19 developments, and the energy transition.Following...Read More
(IDEX Online) - The IGI labs have become the first in the world to be accredited by the ISO for the reliability of their lab-grown grading.The New York-based International Gemological Institute already had certification for its work with mined diamonds.The ISO - International Organization for Standardization - has now tested its efficiency and accuracy in grading lab growns and awarded it the ISO/...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.The New York Harbor Product Storage report is the first of its kind and relies on the same highly calibrated infrared camera, aerial diagnostic and proprietary technologies we use to measure and deliver our industry standard Cush...Read More
(IDEX Online) - Specialty jewelers in the US staged a remarkable recovery in the last quarter of 2020, according to IDEX Online's own research, with a year-on-year sales increase in December of more than 21 per cent. That's well ahead of the 12 per cent increase in overall watch and jewelry sales. IDEX Online subscribers please click here to read the full report. Read More
Mining production was mostly higher in Peru during February compared with the corresponding month in 2020, with the country increasing output for copper, zinc and tin, energy and mines ministry Minem said on Tuesday April 6.The country produced 170,989 tonnes of copper in February, up by 0.68% year on year from 169,826 tonnes but down by 3.07% from 176,402 tonnes in January of this year.Miner...Read More
A summary of base metals premiums from across the globe for the week to Tuesday April 6.Please click...Read More
Nickel's three-month price on the London Metal Exchange came to its highest level in a month on Tuesday April 6, with a rise of 3%, while there were similar gains for copper and tin.Copper's intraday high reading was $9,104 per tonne, the highest level since it reached $9,145 per tonne on March 23. It followed a surge on its Chicago Mercantile Exchange price of 3.4% on Monday to $4.15 per tonne.&n...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
Proposed changes to the London Metal Exchange's market structure may actually have the opposite effect to its desired intention: destroying liquidity, not increasing it.Attention has been focused on the proposed permanent closure of the LME ring, the incentivization of electronic trade and changes to margin methodology, which were central issues in the exchange's recently closed discussion paper.B...Read More
Teck Resources and Mitsui Mining & Smelting have agreed annual supply agreements for lead concentrates with treatment charges (TCs) down by 19% from 2020 levels.Mitsui Mining and Smelting will receive a treatment and refining charge (TC/RC) of $141 per tonne / $1.50 per oz in its contract to purchase lead concentrates from Teck's Red Dog...Read More
Flat-rolled steel product export prices from the Commonwealth of Independent States (CIS) jumped again during the week to Tuesday April 6 sue to an overall shortage of material in the global market, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil (HRC), export, fob Black Sea, CIS was $885-895 per tonne on Tuesday, up by 5.64% from $830-855 per tonne on March 29."De...Read More
Slab export prices from the Commonwealth of Independent States (CIS) region continued to rise in early April, supported by a surge in finished flat steel markets domestically and abroad.Hot-rolled coil from producers in Russia and Ukraine was available to foreign customers at $885-905 per tonne fob at the beginning of April, depending on the coil weight and supplier, up by 4.09% from&nbs...Read More
Wire rod export prices from the Commonwealth of Independent States (CIS) region surged over the past week, supported by rising costs in the domestic and in competitor markets, Fastmarket learned.Russia-based Industrial Metallurgical Holding (IMH) increased wire rod offers to $740-750 per tonne fob Black Sea from $680-685 per tonne a week earlier amid higher costs in the domestic market."...Read More
Flat-rolled steel import prices in the United Arab Emirates (UAE) and Saudi Arabia increased during the week ended Tuesday April 6, with only a few offers received, sources told Fastmarkets.The slim number of offers stemmed from strong global flat-rolled steel demand from China and India, two main exporters to the Middle East.Saudi ArabiaIndia offered hot-rolled coil at $890-90...Read More
Europe's domestic prices for hot-rolled coil jumped on Tuesday April 6, with a shortage of material prompting buyers to accept prices targeted by mills, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?885.00 ($1,042.59) per tonne on Tuesday April 6, up by ?,?41.67 per tonne from ?,?843.33 per tonne on April 1.The index was u...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow edged up again on good end-user demand and tight supplies in April due to planned stoppages at key producers, sources told Fastmarkets on Tuesday April 6.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 54,000 roubles ($707) per tonne, including 20% value-added tax, on A...Read More
Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationProduction in 2020 fell just 5% in 2020 to 5.7 million tonnes, despite the COVID-19 pandemic but with the sector still operating under restrictions, it is continuing to slide.Year-to-date production is down 2.8% at 882,700t compared to 908,100t in 2020 with BHP-controlled Escondida and Antofagasta Minerals' L...Read More
Wheaton Precious Metals (WPM), a TSX 60 stock moved above $US40.37 completing a reverse Head & Shoulders pattern. Kinross Gold (KGC), a TSX 60 stock moved above $US7.14 completing a double bottom pattern.Medtronic (MDT), an S&P 100 stock moved above $119.92 to an all-time high extending an intermediate uptrend. Micron (MU), a NASDAQ 100 stock moved above $95.75 to an all-time high extendin...Read More
Turkish deep-sea scrap import prices strengthened again on Tuesday April 6, with reports of a fresh Baltic Sea cargo, market sources told Fastmarkets.A steel mill in the Iskenderun region booked the Baltic Sea cargo of 20,000 tonnes of HMS 1&2 (95:5) at $430 per tonne cfr on Friday April 2.The previous deep-sea deal took place on April 1, when a steel mill in the Marmara region booked a Europ...Read More