After reviewing the initial feedback on its proposal to launch a weekly price assessment for ferro-niobium, delivered consumer works Europe, duty paid, Fastmarkets MB is extending the consultation period by two weeks.The original consultation period was due to end on Thursday February 25, 2021, and responses so far have confirmed an appetite for a third-party price assessment for ferro-niobium. Th...Read More

A summary of Glencore's preliminary financial results for the year ended December 2020, according to a company report published on Tuesday February 16.In briefGlencore reinstated its dividend to shareholders after a record year in commodities trading.Calls with analysts and media introduced Gary Nagle as the company's next chief executive officer, to take office after incumbent Ivan Glasenberg ret...Read More

A slight rebound in the US Dollar Index failed to stop rises in the prices for nickel (up by 1% at 5pm), aluminium and copper, but it triggered a slight decrease for the other half of the London Metal Exchange base-metals complex.Nickel's three-month price reached a new year-to-date high of $18,840 per tonne during afternoon trading on the LME on Tuesday February 16, and it was $18,814 per tonne a...Read More

RAPAPORT... Diamond miners reported steady sales at their January rough tenders as demand and prices grew at the start of the year.Alrosa garnered $10 million at a sale of stones above 10.8 carats, which it held in Dubai from January 19 to February 9. Some 39 companies - from Belgium, India, Israel, the United Arab Emirates (UAE) and the US - made purchases, the Russian miner said Monday."Dem...Read More

RAPAPORT... Petra Diamonds reported a profit in the six months ending December 31 thanks to a stronger South African rand and lower costs.The miner, which is in the midst of a capital restructuring, posted a profit of $2.7 million for its fiscal first half compared to a loss of $10.2 million for the same period the year before. The appreciation of the South African currency against the US dol...Read More

Rio Tinto and Hydro have announced intentions to close the Aluchemie anode plant in Rotterdam, Netherlands after a strategic review. Production at Aluchemie is expected to finish at the end of 2021. The plant produces 216,000 tonnes per year of anodes, having previously discontinued operations at four of its seven anode baking furnaces. Anodes are high-grade blocks of carbon used in aluminium smel...Read More

RAPAPORT... Prices of fancy-color diamonds slipped marginally in the fourth quarter of 2020 as stability in the yellow category helped the sector stave off a heavier slump, according to the Fancy Color Research Foundation (FCRF)."Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy-color diamond prices proved to be resilient, with minor price decre...Read More

(IDEX Online) - Artisanal miners describe the mistreatment, injustices, threats, violence and even shootings they endure at the hands of big diamond companies in a hard-hitting video released by the Kimberley Process Civil Society Coalition (KPCSC).Villagers in Zimbabwe, the Democratic Republic of Congo and Sierra Leone testify on camera that conflict diamonds are not a thing of the past.The video...Read More

The London Metal Exchange three-month copper price approached May 2012 levels and tin's futures contract was up by 1% on Tuesday February 16 morning, while a lower US dollar index helped the rest of the metals start to consolidate on their recent gains.The red metal reached $8,437 per tonne during early trading, its highest since May 2012 and up just 0.5% from Monday close price of $8,393.50 per t...Read More

With China still on holiday, base metals prices on the London Metal Exchange have been consolidating this morning, Tuesday February 16, even though broader markets remain upbeat. Optimism remains high while the market focuses on vaccine-enabled and stimulus-driven recoveriesWhile complacency is a risk, the pent-up enthusiasm from a year of Covid-19 may last a long timeBHP raises its outlook, citin...Read More

(IDEX Online) - Petra Diamonds reported an eight per cent drop in its revenue to $178.1m in the six months to 31 December 2020, as COVID-19 depressed prices and allowed fewer tenders to take place.The British miner said a deal to restructure some of its $650m of debt should be complete by March.The move will reportedly leave current shareholders with just nine per cent of shares in the company.Mea...Read More

India's ministry of road transport & highways has made changes to its specifications for steel reinforcing bar to be used in road and bridge building, allowing participants in the secondary market to provide material, according to a recent government document.The previous requirement was for all steel to be procured from producers which manufacture steel billet directly from iron ore, and which ro...Read More

The export price for steel billet originating in the Commonwealth of Independent States (CIS) has moved up on fresh sales to Turkey, with offer price increasing as well, Fastmarkets heard on Tuesday February 16.A sizeable cargo of Ukraine-origin billet was sold to the Iskenderun area of Turkey earlier this week at $550 per tonne fob Black Sea, several sources reported to Fastmarkets. This price wa...Read More

Domestic prices for hot-rolled coil in Northern Europe increased day on day on Tuesday February 16, driven by a material shortage, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?727.50 ($882.53) per tonne on Tuesday, up by ?,?9.37 per tonne from ?,?718.13 per tonne on February 15.The index was also up by ?,?17.50 per tonn...Read More

A fire has interrupted operations at ArcelorMittal Gijon's rail mill in Spain, the company told Fastmarkets on Tuesday February 16. The short-lived fire broke out at one of the rolling stands at Gijon's steelworks rail mill, located in Asturias, Spain, on Saturday, prompting the company to issue a stop-work...Read More

Buyers of flat steel in Saudi Arabia and the United Arab Emirates were making no deals while they waited for new prices from China, which will be back from a national holiday soon, sources told Fastmarkets on Tuesday February 16.China's Lunar New Year holiday runs February 11-17.Offers were heard from India, but buyers believed that the prices were too high.End-user demand in both countries was al...Read More

Most buyers for steel rebar and billet in the United Arab Emirates held back from the market in the week ended Tuesday February 16 because they wanted to see new rebar prices from local producers, sources told Fastmarkets.Rebar producers in the UAE were expected to announce new prices soon, and buyers have been waiting for them since last week.Buyers expected prices to hold steady or go down becau...Read More

The export price for steel hot-rolled coil from the Commonwealth of Independent States (CIS) narrowed downward after deals were done at lower levels during the week to Monday February 15, but the general market mood improved due to higher scrap prices in Turkey. Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea, CIS was $690-705 per tonne on Monday, down on the high en...Read More

Neo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesEnvironmental and social governance (ESG) is critical to the success of miningSPONSOREDonyen corporationAlthough the EBITDA figure was flat year-on-year, earnings in Glencore's metals division...Read More

Trident aims to fill valuable nicheSPONSOREDtrident royaltiesThe agreement allows the company to deepen and push back its current conceptual resource pit onto these claims, which will allow it to increase future resource estimates as well as providingRead More