Domestic prices for heavy steel plate in Europe have decreased over the past week due to poor demand, sources told Fastmarkets on Wednesday May 6.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe was ?,?480-490 ($522-532) per tonne on May 6, down by ?,?10 per tonne from ?,?490-500 per tonne on April 29.The assessment is based on lower offers heard in t...Read More

Here are five Fastmarkets stories you might have missed on Wednesday May 6 that are worth another look.Mining operations at Anglo American's Grosvenor coal mine in Queensland, Australia, have been suspended following an incident on the afternoon of Wednesday May 6, which led to its evacuation.Stainless steel prices in China were largely unchanged in the week to May 6, with market participants in t...Read More

If ever there was a masterclass in the need to disaster-proof a supply chain, then the Covid-19 pandemic has provided a harsh reminder to the automotive sector that it's failing. It's a wake-up call for the industry, which, after a massive earthquake and tsunami hit Japan in March 2011, had vowed to end its "just in time" production philosophy and diversify its supply chain in orderto limit a repe...Read More

Christophe Koenig has been appointed head of global sales and marketing at Nornickel, the world's largest nickel and palladium producer. He will also become chief executive officer of Metal Trade Overseas AG, Nornickel's Switzerland-based sales division. Koenig previously managed sales...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 6.Please click...Read More

The three-month zinc price on the London Metal Exchange was the best performer at the close of trading on Wednesday May 6, with turnover at its highest since March 27, while the galvanizing metal continued a steady approach toward the $2,000 per tonne resistance level.Zinc's outright price on the LME closed at $1,975 per tonne on Wednesday afternoon, its highest closing price since March 11, rally...Read More

The seaborne iron ore market uptrend resumed on Wednesday May 6 due to more active trading after Chinese market participants returned from the Labor Day holiday on May 1-5. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.35 per tonne, up $0.31 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $86.24 per tonne, down $0.46 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $72.81 p...Read More

The good kind of storm, by the way...By Matt from Silver Fortune via Silver Fortune The good kind of storm, by the way... Read More

Price manipulation is a real issue, but a short squeeze is expected to develop which would quickly drive silver prices much higher...Mark O'byrne interviewed on Palisade RadioTom welcomes a new guest to the show Mark O'Byrne who is Research Director and founder of GoldCore, a Bullion dealer based out of Ireland. They provide services and bullion sales around the world, with vaults in Singapore and...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 6.Please click...Read More

RAPNET PRESS RELEASE, May 6, 2020, Las Vegas... RapNet, the world's largest marketplace for diamonds and jewelry, is partnering with web technology company Thinkspace to provide cost-effective website solutions for jewelry retailers.The new alliance enables RapNet members to easily and quickly develop high-quality websites for their retail stores, immediately populated with RapNet's vast inventory...Read More

Domestic prices for hot-rolled coil in Europe dropped again in the week to Wednesday May 6 due to slow trading activity, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?421.50 ($458.02) per tonne on Wednesday, down by ?,?1.50 per tonne from ?,?423.00 per tonne on Tuesday.Wednesday's index was calculated based on "workable" prices...Read More

RAPAPORT... Didier Giard, president of the French Association of Gemmology (AFG), died suddenly on Sunday, the organization reported.Giard represented the fourth generation in a family of jewelers that dates back to 1887. As head of the AFG, he organized the Paris Gemmological Rendez Vous, which has taken place 17 times since 1998. He was also vice president of the Union Fran??aise de la Bijouteri...Read More

RAPAPORT... The Israel Diamond Exchange (IDE) has become the latest bourse to revive operations, as trading centers around the world slowly return to action following lockdowns.Facilities including banks, the post office, customs, the diamond controller's office and the Brinks safety-deposit room opened on Sunday after being partially or entirely closed for several weeks, the IDE said this we...Read More

RAPAPORT... Dominion Diamond Mines owes a combined CAD 1.2 billion ($820 million) to banks and other creditors, according to a court document it filed as part of its insolvency petition.While a large portion is due to businesses in the Northwest Territories, where Dominion operates its Ekati mine, the listing also shows a CAD 593,017 ($422,429) debt owed to the Diamond Producers Association (...Read More

RAPAPORT... Sales of jewelry and other luxury items in Hong Kong plummeted to their lowest level in nearly 14 years in the first quarter as the coronavirus spread through the region, government figures show.Revenue from jewelry, watches, clocks and other valuable gifts dropped 64% year on year to HKD 8.14 billion ($1.05 billion) for the three months ending March 31, as the municipality went i...Read More

The United States nickel briquette premium dipped at the top end of the range in the week to Tuesday May 5, pushed lower by increased selling momentum at lower levels, while nickel premiums in Europe and China remained flat.?EUR? Virus-weakened demand pushed US briquettes premiums lower?EUR? China public holidays and a lack of arbitrage opportunities kept regional premiums unchanged?EUR? Lack...Read More

(IDEX Online) - Young Diamantaires have built and launched their own website -  www.ydts.org  - to help members grow their businesses. The group, part of the Antwerp-based World Federation of Diamond Bourses (WFDB), say it will function as a forum for discussion, networking, charitable activities. It will also cultivate leadership roles within the WFDB.Twenty-five members have alrea...Read More

(IDEX Online) - Diamond factory bosses are urging the Indian government to allow a partial return to work after the nationwide lockdown was again extended, to 17 May. Some other industries have resumed partial production after rules were relaxed to allow a third of workers to return, albeit with social distancing rules and frequent sanitizing. But the nature of the cutting and polishing process-...Read More

(IDEX Online) - Pandora reported a first-quarter loss of $3.49m, as sales across its 7,300 outlets fell by 13 per cent. The Danish jewelry retail giant, best known for its charm bracelets, said it had been badly hit by COVID-19, but insisted it was in a "strong financial position" to withstand ongoing effects of the pandemic.The global pandemic forced Pandora to close most of its outlets, fir...Read More