Hot-rolled coil prices in the United States extended their new year's rally, establishing a new 12 1/2-year high and derailing the prior idea that the first quarter will deliver pricing and volume relief to America's steel-consuming industries. Fastmarkets' daily steel hot-rolled coil index was calculated at $55.72 per hundredweight ($1,114.40 per short ton) on Tuesday January 12, an increase of 2...Read More

Exporters of steel billet from the Commonwealth of Independent States (CIS) are facing stiff resistance from buyers reluctant accept their higher offer prices, sources told Fastmarkets on Tuesday January 12.Official offers for March shipment billet have been reported as high as $625 per tonne fob Black Sea.But bids from Turkey, a key export outlet for CIS billet, have been hear...Read More

RAPAPORT... Pandora has warned it is uncertain how the escalation in Covid-19 cases will impact its 2021 sales, as more stores close. Approximately 25% of the Danish jeweler's locations are currently on lockdown, as opposed to the 10% of brick-and-mortar shops that were closed at the end of the fourth quarter, the company said Monday.The jeweler expects revenue growth for the fourth quarter t...Read More

RAPAPORT... The largest rough-trading centers face a busy January as adaptations have enabled them to continue holding sales events during the pandemic. Antwerp and Dubai will host 14 rough tenders between them this month, after 2020 proved relatively strong despite the coronavirus outbreak. Technology has allowed sellers to offer goods remotely. At the same time, rough prices at tenders were...Read More

RAPAPORT... Erwan Rambourg is certain that luxury sales will increase in the coming decade as companies adapt to emerging trends and respond to societal forces. The industry analyst previews this new landscape in his recently released book Future Luxe: What's Ahead for the Business of Luxury - complete with "21 predictions for '21 and beyond." How has Covid-19 impacted the luxury industry?After a...Read More

Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia went up over the past week with higher offers and bids, market sources said on Tuesday January 12.Buyers believed that offer prices were too high and asked for discounts, but sellers did not accept the lower bids. As a result, no deals were heard."Bookings are very slow in the UAE due to the heavy increase in prices," one...Read More

Steel rebar and billet prices in the United Arab Emirates rose again in the week to Tuesday January 12 because of higher offers and market indications, but most rebar producers are yet to announce new prices for February production, sources said. Demand for billet and rebar from end users was moderate to strong during the week, sources added. Domestic rebar Steel producers sold rebar at 2,259-2,29...Read More

(IDEX Online) - Chow Tai Fook sales soared in "business as usual" Mainland China, but fell in Hong Kong, which suffered a third wave of the pandemic in November and December.A rise of 26 per cent in retail sales value at its stores in mainland China was offset by a drop of 12 per cent in Hong Kong, Macua and other markets. Overall sales across all the chains 4,000 outlets was up 18 per cent.Growth...Read More

(IDEX Online) - Antwerp is hosting eight tenders this month, in spite of the ongoing pandemic and a renewed tightening of restrictions in many countries. That's on a par with 2020, when it hosted a total of almost 100 at various tender houses, selling over 10.5m carats.Coronavirus hit a peak in Antwerp last November, but infections are currently at relatively low levels. The city's...Read More

Export prices for steel slab from the Commonwealth of Independent States (CIS) increased again during the week to Monday January 11 on sustained demand and bullish suppliers.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS at $685-700 per tonne on January 11, up from $675-680 per tonne a week...Read More

(IDEX Online) - Diamond billionaire Beny Steinmetz allegedly paid $10m in bribes to secure rights to iron ore deposits, a Swiss court heard.The deal that his his company BSGR struck with Guinea, one of Africa's poorest countries, in 2008 was described as winning the "jackpot".He paid around $160m for the exploration and mining rights, then sold half of them to Vale, the Brazilian multinationa...Read More

There was little activity in the export market for long steel products from the Commonwealth of Independent States in the week to Monday January 11 because suppliers are just starting to come back from public holidays. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $650-670 per tonne on Tuesday, flat week on week. Current offers for Russ...Read More

The flat steel export market from the Commonwealth of Independent States (CIS) was slow during the week to Monday January 11 because suppliers had just returned from holidays, although the general market mood was positive, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $785-790 per tonne on Monday, up from...Read More

Turkish steelmakers stepped back from the deep-sea scrap import market on Tuesday January 12, focusing instead on finished steel and billet sales, sources told Fastmarkets.After a number of steel scrap cargoes were booked at the end of the last week, the market has generally been quiet."Market is very quiet [so far this] week, but I still expect the mills to book more carg...Read More

Iron ore prices remained mostly stable on Tuesday January 12, supported by mills replenishing their stocks ahead of the Chinese New Year holiday in mid-February, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $172.67 per tonne, up $0.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.00 per tonne, up $0.75 per tonne58% Fe fines high-grade premium, cfr Q...Read More

Seaborne coking coal prices across the board remained relatively flat on Tuesday January 12 due to a lack of transactions while some steel mills in China accepted the proposed coke price increase, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.99 per tonne, up $0.06 per tonnePremium hard coking coal, cfr Jingtang: $208.19 per tonne, up $0.01 per tonneHard coking coal, fob...Read More

Trident aims to fill valuable nicheSPONSOREDtrident royaltiesThe BLM issued a Joint Record of Decision for the Ambler road project in July 2020 to approve a 211-mile-long gravel private access road in the southern Brooks Range foothills.Read More

Trident aims to fill valuable nicheSPONSOREDtrident royaltiesRio owns a 33.5% indirect interest in Oyu Tolgoi through its 50.Read More

Maximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesThe miner said its flagship Chelopech mine in Bulgaria delivered consistent production through the year of 179,600oz and 35.Read More

After further weakness in the base metals on Monday January 11, that saw the complex close down by an average of 1.5%, prices were up across the board on the London Metal Exchange this morning. But those on the Shanghai Futures Exchange were down while they followed yesterday’s performance on the LME.* Asian-Pacific equities were mixed this morning* Gold prices were rebounding this morning, a...Read More