Iron ore prices began to rise again on Thursday December 24, sources said, supported by falling steel inventories in China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.05 per tonne, up $4.02 per tonne62% Fe low-alumina fines, cfr Qingdao: $167.30 per tonne, up $4.94 per tonne58% Fe fines high-grade premium, cfr Qingdao: $154.25 per tonne, up $2.71 per tonne65% Fe Br...Read More

It is easy to manipulate prices when you have no counterparty...by Harvey Organ of Harvey Organ BlogDEC23//GOLD UP $7.40 TO $1873.70//SILVER UP 33 CENTS TO $25.75//STRONG QUEUE JUMP OF .55 TONNES: NEW GOLD TONNAGE STANDING: 93.3 TONNES/ALSO STRONG ADVANCE IN SILVER STANDING UP TO 47 MILLION OZ//CORONAVIRUS UPDATE: UK USA AND THE GLOBE//IN THE USA BIG DROP IN GOVERNMENT WAGES//INITIAL JOBLESS GAINS...Read More

The London Metal Exchange three-month aluminium, nickel and zinc prices all rose by over 1% in morning trading on Thursday December 24, with the market weighing likely deals on US coronavirus relief funds and Brexit against the renewed pandemic spread across Europe. "Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, sugg...Read More

The parabolic move in Tesla stock has been the result of a short squeeze, and the meteoric ascent may well resemble what will happen to silver when...Ted Butler with Chris Marcus of Arcadia EconomicsIn today's episode of the show, #silvermanipulation analyst #TedButler makes the case that the parabolic move in Tesla stock has been the result of a short squeeze, and that Tesla's meteoric ascent may...Read More

The cfr price for seaborne premium hard coking coal edged up further on Thursday December 24, with new transactions sealed at higher prices. China's ban on Australian coal led to the decline in demand for Australian premium low-volatility hard coking coal, and premium mid-volatility hard coking coal has been sold at a higher price than premium low-vol material in the fob market, sources...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Prices of stainless steel are generally set to reach highs for the year as 2020 comes to a close. For the most common nickel-containing grades of stainless steel, this upward trend is being driven above all by rising nickel prices, which themselves are hitting relatively high levels into the end of 2020.The price increases si...Read More

Mood optimistic as US and European dealers close for holidays. E-commerce surges; US online sales +30% on Super Saturday and +56% on Sunday before Christmas. Brick-and-mortar quiet due to spread of Covid-19. Chinese jewelers expecting release of pent-up demand during Feb. 12 Lunar New Year. Manufacturers raising polished production in anticipation of post-holiday inventory replacement. Rough tradi...Read More

RAPAPORT... New York's Diamond District is set to sparkle on TV this Tuesday night in the documentary series Streets of Dreams with Marcus Lemonis.The series presenter is a self-declared "champion of entrepreneurs" who is seeking to discover what makes America's most famous streets tick. As Lemonis walks amid the hustle and bustle of hawkers and diamond dealers on 47th Street, he has one clea...Read More

RAPAPORT... Romania's Supreme Court has sentenced mining magnate Beny Steinmetz to five years' imprisonment in a land-fraud case, according to Israeli media.The businessman, who has counted diamond mines among his vast interests, was accused of being involved in corruption carried out by a company for which he was a partner and adviser, Globes reported last week.Following the fall of Communis...Read More

RAPAPORT... US consumer confidence fell almost 5% this month amid the latest coronavirus wave, according to the Conference Board.The business data group's Consumer Confidence Index declined to 88.6 in December, from 92.9 in November, it reported Tuesday. Americans gave a weaker assessment of current business and labor conditions - a fact that outweighed an improvement in their short-term outl...Read More

RAPAPORT... Lucapa Diamond Company is in advanced negotiations to acquire the Merlin mine in Australia after the site's owner entered liquidation earlier this year."The Lucapa board considers that Merlin would be complementary to the company's existing niche operating mines and exploration projects in Angola, Australia, Botswana and Lesotho, and is a development opportunity that would significantl...Read More

Import prices for flat-rolled steel products in South America continued their nearly three-month uptrend as Chinese material was presented at higher levels for March 2021 and April 2021 shipments following ongoing domestic strength.Interest from buyers went quiet ahead of the year-end holidays, however, market participants said. Most clients were waiting to see if prices would correct down next mo...Read More

(IDEX Online) - Alrosa raised $7m at its fourth online sale of special-size rough.The Russian state-owned miner launched digital tenders in May to give buyers an opportunity to buy large stones (over 10.8-carats) remotely using 3D scans by Sarine.It hasn't disclosed the value of previous sales.  In December it sold 80 per cent of the goods available -  185 rough diamonds with a tota...Read More

Steel billet and rebar prices have increased again in Egypt in the week to Thursday December 24, with demand for rebar said to be moderate because of restocking, market sources told Fastmarkets.Locally produced billet was sufficient to meet demand from rebar producers, so buyers did not book any import billet.Demand for rebar and billet has been slow in the country since the imposition of a ban on...Read More

(IDEX Online) - The average spend on an engagement ring fell slightly in the US to $5,500 this year.That's according to a survey on 5,000 newly-engaged individuals for online wedding website The Knot.It dipped slightly from $5,900 in 2019 as one in eight couples shopped virtually for a ring.  But the pandemic had only a "minimal" effect on their spend, said The Knot 2020 Jewelry & En...Read More

(IDEX Online) - The recovery in sales of US watch and jewelry continues, with a fifth consecutive month of year-on-year increases.October's 18.6 per cent rise was another record high. The jump from September appears at first more modest than recent monthly increases, a possible indication that sales are finding their level, but it's likely the figure will be revised upwards, in line with...Read More

Fastmarkets will discontinue its tin ingot premiums on a seaborne basis to China from the start of January. The decision follows a month-long market consultation. Market analysis and engagement showed support for the move, with China a major producer but a negligible importer of LME registered tin ingot bands other than in extreme circumstances. The two prices to be discontinued are: MB-SN-0032-Ti...Read More

Fastmarkets has decided to discontinue its copper cathode premium, cif Japan from the start of January. The results of a month-long consultation, market analysis and engagement showed support for the move, with Japan a major producer but a negligible importer of LME registered copper cathode brands. The price to be discontinued is: MB-CU-0385 - copper grade A cathode premium, cif Japan, $ per tonn...Read More

The United Kingdom and European Union have reached an agreement on a trade deal that will ensure tariff-free trading of most goods between the country and the bloc after December 31 when the withdrawal transition period ends, easing metals and minerals market participants' fears of logistics paralysis and material shortages. Following four years of slow negotiations after the 2016 Brexit referendu...Read More

Treatment charges for zinc and lead concentrates cif China were flat in December, while those in the China domestic market fell on low inventories and consistent demand from smelters. Fastmarkets assessed the zinc spot concentrate TC, cif China at $75-90 per tonne. The lead spot concentrate TC,...Read More