The London Metal Exchange has unveiled a package of sustainability proposals including new aluminium and steel scrap contracts, a spot trading platform and LMEpassport - a new digital register for physical metals data. The spot trading platform is focusing initially on aluminium but is open to other metals. The first stage of LMEpassport is targeting electronic certificates of analysis (CoAs) for...Read More

Here are five Fastmarkets stories you might have missed on Monday August 10 that are worth another look.Production activity has come under threat at Belarus Steel Works (BMZ) with workers protesting against the result of the country's presidential election on Sunday August 9.Liberty House Group,...Read More

Steel market participants anticipate China's "dual circulation" policy will to boost steel demand for the remainder of 2020, with the more self-reliant economic model aiming to offset slowdowns caused by the Covid-19 pandemic and US-China political tensions. Chinese President Xi Jinping announced in late July that China will focus on a "dual circulation" development model, which ensures a more sel...Read More

Here are five Fastmarkets stories you might have missed on Thursday August 13 that are worth another look.The Brazilian branch of car manufacturer General Motors (GM) was extending the furlough period for some employees at its plants, and opening a voluntary redundancy plan at its S??o Caetano do Sul unit, the company told Fastmarkets...Read More

Plans for a London Metal Exchange spot trading platform have sparked intense debate within the aluminium industry. But opponents and supporters don't necessarily fall into the camps that one might expect. For starters, a decision by the LME not to change its futures contract, establish a new green aluminium contract or set thresholds to define what constitutes low-carbon metal is proving key in st...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US domestic prices for hot-rolled coil moved down in line with our expectations, averaging $461 per ton in July versus our forecast price of $460 per ton. Although domestic HRC prices slipped to less than $450 per ton in late July/early August, we maintain the view th...Read More

The lithium hydroxide monohydrate min 56.5% LiOH.H2O battery grade, spot prices cif China, Japan & Korea trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Fastmarkets assessed the lithium hydroxide monohydrate min...Read More

Here are five Fastmarkets stories you might have missed on Thursday August 13 that are worth another look.The Brazilian branch of car manufacturer General Motors (GM) was extending the furlough period for some employees at its plants, and opening a voluntary redundancy plan at its S??o Caetano do Sul unit, the company told Fastmarkets...Read More

Plans for a London Metal Exchange spot trading platform have sparked intense debate within the aluminium industry. But opponents and supporters don't necessarily fall into the camps that one might expect. For starters, a decision by the LME not to change its futures contract, establish a new green aluminium contract or set thresholds to define what constitutes low-carbon metal is proving key in st...Read More

Plans for a London Metal Exchange spot trading platform have sparked intense debate within the aluminium industry. But opponents and supporters don't necessarily fall into the camps that one might expect. For starters, a decision by the LME not to change its futures contract, establish a new green aluminium contract or set thresholds to define what constitutes low-carbon metal is proving key in st...Read More

London Metal Exchange copper futures fell toward the 5pm close on Thursday August 13, failing to stabilize above the level of $6,400 per tonne.The LME's 3-month copper price closed at $6,256 per tonne, down by $176 per tonne from Wednesday's close, to the lowest since last Friday.Tumbling three-month prices have exacerbated a backwardation in the nearby forward curve. The cash/three-month spread w...Read More

Prices for mid-grades of iron ore went down on Thursday August 13 with the expectation of an easing of the cargo congestion at ports in China, sources have told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $121.38 per tonne, down by $0.13 per tonne.62% Fe low-alumina fines, cfr Qingdao: $120.55 per tonne, down by $0.45 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US domestic prices for hot-rolled coil moved down in line with our expectations, averaging $461 per ton in July versus our forecast price of $460 per ton. Although domestic HRC prices slipped to less than $450 per ton in late July/early August, we maintain the view th...Read More

Sentiment improving after relatively good trading in July-August. Shortages supporting prices. Fewer dealers active in the market. Suppliers with the right goods that meet selective demand gaining market share. Manufacturers considering higher rough purchases as they assess 4Q inventory requirements. Rough buying limited due to travel restrictions and inflated De Beers and Alrosa prices. Alrosa Ju...Read More

RAPAPORT... Fana, a New York-based bridal and fine-jewelry brand, has appointed three senior staff members to shore up its sales operations and interactions with retail partners.Shelby Sterrett, who joined the company in February, will lead sales development for the west region, which covers Colorado and all other west-coast states, the company said last week. Steve Rumanoff will hold the sam...Read More

RAPAPORT... Dutch bank ABN Amro will close its Hong Kong diamond business in a major trimming of its global operations.The company is shutting the branch from which it lends to the local polished market, as part of a retreat from all trade-finance activities outside northwest Europe, a company spokesperson told Rapaport News Thursday. The decision leaves ABN Amro with just its Belgium office...Read More

(IDEX Online) - The Canadian miner Lucara reported a Q2 loss of ?, ?13.9m, after choosing not to sell any of its larger stones.Last year it made a 0.7m profit in the same quarter.During Q2 2020 it sold smaller stones from its Karoe mine (pictured), in Botswana, at a single tender in Antwerp and through its digital sales platform Clara - five sales of stones between one and 10 carats - generating a...Read More

RAPAPORT... Ask a De Beers or Alrosa contract client about the biggest problems with the miners' age-old systems for selling rough, and the answer will probably include a comment on prices. High rough prices relative to polished have squeezed diamond manufacturers' profit margins for years. But there's a more complex issue behind the complaints: the lack of customization.The two mining giants...Read More

(IDEX Online) - A Chinese billionaire living in the USA has ordered the world's most expensive COVID-19 face mask - costing $1.5m.Teams of jewelers are working in shifts to set 3,608 natural black and white diamonds (weighing 210 carats) into 270 grams of pure 18k gold.The anonymous customer from Shanghai is having the mask designed and made by Orna and Isaac Levy, owners of the Yvel luxury j...Read More

(IDEX Online) - Canadian miner Star Diamond claims Rio Tinto, senior partner in a joint exploration project, may be to blame for damage to some sample stones.The two companies are already tangled in a legal row over terms of another venture.  Star Diamond accuses Rio Tinto of "bad faith predatory practices", gross overspending on exploration costs at the Star-Orion South project in Saskatchew...Read More