An open import arbitrage window during May has led to significant declines in copper and zinc stocks in the Shanghai bonded zone, while aluminium stocks rose following a rush by participants to deliver more metal in bonded warehouses to satisfy growing appetite to import the light metal into China.Shanghai bonded copper stocks fall to all-time low Copper stocks at Shanghai bonded warehouses have d...Read More

Polished diamond prices for May reflect much more movement than for April, with an overall trend of modest rises, balanced by price drops in specific sizes and qualities.  Much of the activity for both round and polished stones was among 0.50 to 1.99 cts.  Smaller sizes were characterized by inactivity or limited price drops.  Larger key sizes, over 3.00 cts saw clust...Read More

The three-month copper price on the London Metal Exchange inched up 0.8% during morning trading on Monday June 1, pushing back above nearby resistance levels amid strong turnover, while a 200-tonne outflow for LME tin stocks kept its price elevated. The copper price was recently at $5,420 per tonne, climbing from Friday's closing price of $5,376 per tonne. Daily trading volumes are strong at more...Read More

RAPAPORT... Petra Diamonds is considering whether to hold a rough tender in June after a market slowdown prompted it to cancel its May sale.Prices fell 27% in March and April compared with February as the Covid-19 pandemic reduced business activity throughout the supply chain, the company reported Friday. Having called off the May sale, it is now considering holding a tender in South Africa a...Read More

RAPAPORT... Christie's plans to relaunch its three live Magnificent Jewels sales during July, with the Geneva event set to feature a 100.58-carat diamond.The modified shield mixed-cut, D-color, type IIa diamond will go under the hammer on July 22 with a price estimate of $3.5 million to $4.5 million. Christie's will also hold its New York Magnificent Jewels auction on July 29, it announced Friday....Read More

Hot-rolled coil prices in the United States have slipped back below $25 per hundredweight ($500 per ton) after pushing above that threshold late last week amid uncertainty about whether the latest price increases from domestic mills would stick.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.98 per cwt ($499.60 per ton) on Monday June 1, down by 0.8% from $25.18 p...Read More

Steel plate prices in the United States have continued to hold steady after a round of price increases announced in late May again failed to gain traction on the market.US plate mills announced hikes of $40-50 per short ton ($2-2.50 per hundredweight) during the week ended May 22, but so far the follow-through has been hampered by pre-increase discounting and severe weakness in important end marke...Read More

The United States Department of Commerce has announced an affirmative circumvention ruling against imports of steel concrete reinforcing bar (rebar) from Mexico.Commerce issued an affirmative preliminary circumvention ruling against Mexican rebar on March 4.Commerce said imports of straight rebar that is bent at one or both ends and produced and/or exported to the US by Deacero SAPI de CV circumve...Read More

Prices for domestic and imported merchant bar quality (MBQ) steel in the United States remained flat in May amid stirrings of activity and an improving outlook.Fastmarkets' monthly price assessment for steel bar 2 x 2 x  1/4 -inch angle merchant products, fob mill US was unchanged at $33.80 per hundredweight ($676 per short ton) on Friday May 29 after declining to that level on April 24; the...Read More

Domestic prices for steel hot-rolled coil in Northern Europe decreased further during the week to Friday May 29, due to low demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?400.71 ($444.84) per tonne on Friday, down by ?,?6.79 per tonne week on week and by ?,?25.54 per tonne month on month.Friday's index was calculated based on deals and "workable" price...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesSolaris issued 25 million shares priced at 80c, with each unit including a three-year warrant priced at $1.20.The proceeds will be used to advance exploration at the Warintza copper-molybdenum project in Ecuador, including a comprehensive geophysical survey and expanded drilling programme.Artemis all set thanks to unique approachSP...Read More

Markets were for the most part stronger this morning, Monday June 1, following relief that United States President Donald Trump’s response last Friday to China’s plans to impose national security laws in Hong Kong did not shake market sentiment because he did not meddle with the phase one US-China trade deal, or increase sanctions. Asian-Pacific equities indices were up strongly, as were...Read More

Mining company Rio Tinto has apologized for destroying one of Australia's oldest Aboriginal heritage sites in order to expand an iron ore project and said that it was urgently reviewing plans at other sites in the Juukan Gorge area.Blasting associated with the expansion of Rio Tinto's Brockman 4 iron ore mine in the Pilbara region of Western Australia over the weekend devastated the Juukan Gorge c...Read More

Turkish domestic ship scrap prices rose over the past week, in line with stronger imported scrap values, market sources said on Monday June 1.The Turkish steel producers resumed their deep-sea scrap purchases at higher prices after the Eid al-Fitr break, which marks the end of Ramadan.Following the upturn in import values, three steel mills raised their...Read More

U.S. equity index futures were lower this morning. S&P 500 futures slipped 4 points in pre-opening trade.U.S. equity index futures were weaker despite strength in European and Far East equity markets. Notably stronger was the Shanghai Composite Index, up 63.08 to a 10 week high of 2915.43 following news that the China Caixin Purchasing Managers Index advanced from 49.4 in April to 50.7 in May....Read More

Turkish steel producers have continued their deep-sea scrap purchases on further easing of the restrictions imposed to combat the Covid-19 pandemic in the country, sources said on Monday June 1.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 10,000 tonnes of shredded, 15,000 tonnes of plate and structural scrap (P&S) and 25,000 tonnes of HMS 1&2 (90:10) at an average pric...Read More

Seaborne premium hard coking coal prices edged down on Monday June 1, with no transactions heard on the day.Fastmarkets indicesPremium hard coking coal, fob DBCT: $109.02 per tonne, down $0.57 per tonne Premium hard coking coal, cfr Jingtang: $115.93 per tonne, down $0.52 per tonneHard coking coal, fob DBCT: $89.57 per tonne, down $0.99 per tonne ...Read More

Seaborne iron ore prices mostly decreased on Monday June 1 after the surge on Friday May 29, with market participants waiting for a clear trend. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $100.45 per tonne, down $1.94 per tonne.62% Fe low-alumina fines, cfr Qingdao: $103.89 per tonne, down $1.11 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $91.93 per tonne, up $4.63 per to...Read More

Hot-rolled coil prices in Vietnam softened over the past week, but movements in the iron ore market will likely stimulate spot demand for the flat steel product from the major buyer, sources told Fastmarkets.Prices for the steelmaking raw material surged last week amid concerns over the supply of high-grade Brazilian materials, which in turn emerged as a result of speculation about there being hun...Read More

The London Metal Exchange has formally canceled this year's LME Week, which was due to take place in London later this year, "due to the Covid-19 pandemic."All of its official events related to the annual gathering will not happen this year, the exchange said in a notice to members on Monday June 1."In the interests of ensuring the safety of all attendees from across the metals industry, the LME h...Read More