Here are five Fastmarkets stories you might have missed on Thursday May 14 that are worth another look.ArcelorMittal Kryvyi Rih, Ukraine's major long steel producer, has decommissioned the first section of its blooming plant as a part of a strategy for sustainable development, the company said on May 14.The European Commission's (EC) prior surveillance of imports of certain aluminium products orig...Read More
China's leading stainless steel mills have raised their ferro-chrome tender prices for May deliveries, with one offering an additional payment for extra material delivered, incentivizing some smelters to increase their deliveries. But not all suppliers are enticed by the price hike because of a strong spot market and expectations of further price gains in the near term, Fastmarkets has learned. Ta...Read More
Prices for China's tungsten concentrate continue to strengthen amid tight supply from mining companies. The price increases for the raw material have also triggered higher offers for ammonium paratungstate (APT) but downstream tungsten powder and alloy consumers are resisting them amid weak economic conditions, resulting in a stalemate.Costlier concentrateFastmarkets' weekly price assessment for t...Read More
The three-month price of lead on the London Metal Exchange was higher at the close of trading on Thursday May 14, with buying momentum pushing the metal's outright price above the $1,600 per tonne threshold, while the LME nickel price held above $12,000 per tonne despite a 1.4% downturn over the afternoon.Lead's underlying price on the LME closed at $1,619 per tonne on Thursday afternoon, climbing...Read More
Seaborne iron ore prices stayed above $90 per tonne on Thursday May 14, supported by improving production levels and decreasing steel inventories in China, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $92.17 per tonne, up $0.54 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $94.50 per tonne, up $0.14 per tonne. 58% Fe fines high-grade premium,...Read More
As we're being subjected to "UNLIMITED" expansion of our debt burden via currency debasement and the latest round of bank bailouts, what is the REAL price?Craig Hemke interviewed by Dunagun Kaiser on Reluctant PreppersAs we're being subjected to "UNLIMITED" expansion of our debt burden via currency debasement, and the latest round of unimaginable bank bailouts, what is the REAL price of sound mone...Read More
China's domestic hot-rolled coil prices strengthened on Thursday May 14 amid support provided by steady demand from the infrastructure sector, sources said.DomesticEastern China (Shanghai): 3,420-3,430 yuan ($482-483) per tonne, up 30 yuan per tonneNorthern China (Tangshan): 3,390 yuan per tonne, up 40 yuan per tonneMarket sources reported robust trading during the day, with downstream buyers rush...Read More
Silver may have been held in check at $15 over the last few weeks, but the action beneath the surface is STUNNING...Ed Steer interviewed by Chris Marcus on Arcadia EconomicsWhile the silver price has been held in check at the $15 level over the last few weeks, that doesn't mean nothing is going on. Because to the contrary, the action beneath the surface is the most stunning thing I've studied in m...Read More
MAC surveyTORONTO - Coinciding with National Mining Week, the Mining Association of Canada (MAC) has released a new national poll that highlights public enthusiasm for Canada to grow market share as a preferred global supplier of critical minerals, based on abundance and leading environmental standards.As demand for minerals and metals continues to grow, there is increasing focus on what are refer...Read More
May 14, 2020Toronto, Canada (May 14, 2020) - Mega Uranium Ltd. (MGA: TSX) announces that it has entered into an agreement with NXGold Ltd. ("NX") to grant to NX (following receipt by NX of the necessary conditional approvals of the TSX Venture Exchange) a two-year option to purchase Mega's Ben Lomond uranium property located in Queensland, Australia (the "Ben Lomond Option"). As consideration fo...Read More
The price of steel billet in Turkey increased over the past week in line with increasing scrap import values, while demand for the material was still limited, sources said on Thursday May 14.Domestic Turkish steel mills in the country resumed their deep-sea scrap purchases last week at higher prices, sources said.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, c...Read More
Demand for imported steel billet and domestic steel reinforcing bar (rebar) in Egypt remained weak in the seven days to Thursday May 14, with billet import prices increasing because of high offers, sources told Fastmarkets.No improvement in demand was anticipated soon due to the Islamic holy month of Ramadan and the Covid-19 pandemic. In addition, the governor of Egypt's capital city, Cairo, has c...Read More
Diamond companies slowly resuming operations. Focus on China and Hong Kong as exports recommence. Some US retailers opening amid significant changes to customer engagement in new digitized, low-touch economy. Major jewelers returning memo inventory and trying to revise supply agreements to include longer payment terms. Dealer market facing liquidity crunch. Rough trading at a near standstill, with...Read More
RAPAPORT... During lockdown, there comes a time when one simply doesn't want to be told anymore that we're in this together - "even though we may be apart."While plunging further down that YouTube rabbit hole, as we all often have in the past three months, ad after ad has tried to lift our spirits with corporate pep talk. Some appealed to our emotions, but more stood out through humor or a clever...Read More
RAPAPORT... Mumbai has dispatched its first diamond exports since India's lockdown started, after the regional government allowed limited activities to resume at the city's Bharat Diamond Bourse (BDB).The first shipments took place on Tuesday, with 80% to 85% of the goods destined for Hong Kong, BDB president Anoop Mehta told Rapaport News Thursday. The rest went to Dubai, Antwerp, the US and...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.Disruptions to the metals markets, as well as the sentiment change due to the coronavirus (COVID-19), have dominated metals markets and price movements so far in 2020. The metals markets are moving faster than ever driven by announcem...Read More
Copper scrap discounts in the United States fell across the board this week, with competition in the form of Chinese export demand pressuring supply in an already tight domestic market.The demand from Chinese importers, which have intensified their search for international copper feed in the light of Covid-19 disruptions, also pushed brass scrap prices up.The fall in coppe...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. Building a case for long-term sustainability'Underwhelmed' sums up investors' indifferent response to the Majors' Q1 results. The flicker of positive share price movement barely made an impression on the collective 16% underperf...Read More
The European Commission's (EC) prior surveillance of imports of certain aluminium products originating in certain third countries will expire on Friday May 15.The surveillance was introduced for aluminium on April 25, 2018, following the US Section 232 import restrictions."On May 15, 2020, the 'prior surveillance' system to monitor imports into the EU of certain steel and aluminium products w...Read More
RAPAPORT... As diamond markets start to return, the Rapaport news team discusses prospects for the industry in the coronavirus era.In the latest episode of the Rapaport Diamond Podcast, we discuss the extent to which things have fundamentally changed in the past two months and what that means for the trade's future. We assess whether the industry will maintain its sense of community in the new vir...Read More