The latest forecasts from Fastmarkets' team of analysts is ready to view.While much commentary has been written about Asian economies performing far better than those elsewhere this year during the global Covid-19 pandemic, it is stainless steel markets in Europe and the United States that are ending the year in better shape than their Asian counterparts.We do not talk of demand levels or demand g...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.While a world leader in many areas, the United States is a relatively small player when it comes to stainless steel. It produces a small amount of material, both in absolute and relative terms (i.e. compared to the size of its population), while a large share of its industry is in the hands of bigger European companies. Never...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Having found it easier to increase prices than their counterparts in Europe and the United States during the past few months, Asian stainless steelmakers now face a number of concerns.In the short term, Asian prices have moved down in recent weeks while those in Europe and the US are on the up. This is mostly a reflection of...Read More

RAPAPORT... I decided to join the jewelry business in my late teens. I use the term "decided" loosely, because many will say you don't choose this business; it chooses you.I wasn't an industry kid who had childhood dreams of glitter and gold or who spent weekends and vacations learning the business working for my family. In fact, as a kid, I never knew exactly what my father did. He owned a jewelr...Read More

RAPAPORT... BlueRock Diamonds has increased the estimate of total rough carats available at its Kareevlei mine in South Africa, following a recent drilling program at the site.The results indicate total carats at the mine to be 513,500, a 52% increase over the 367,000 originally forecast in 2018, the company said Tuesday. So far, BlueRock has mined 28,500 carats from the site. The drilling also re...Read More

(IDEX Online) - A parcel of diamonds seized three years ago from UK-listed miner Petra has been declared property of Tanzania's government.It has nationalized the shipment, now said to be worth $29.5m, after a court ruled that two former government employees had deliberately undervalued the gems, which were destined for Antwerp, according to a report on Turkey's state-run Anadolu news ag...Read More

(IDEX Online) - The alarming decline in of Swiss watch exports slowed in November, buoyed by a robust recovery in China.Exports are down 23.5 per cent year-on-year in the first 11 months of 2020, according to new figures released by the Federation of the Swiss Watch Industry.But the sector's biggest single market, China, saw sales up by almost 70 per cent to $338m, a stark contrast with Octob...Read More

(IDEX Online) - Christie's is to auction 106 pieces of runway jewelry designed by the late Karl Lagerfeld during his 36-year tenure as the brand's creative director.The statement brooches, necklaces, earrings and other items, many of them oversize, are made of rhinestone, faux pearl, gripoix glass and other non-precious materials. High estimates are up to $6,000 for the most valuabl...Read More

The price of steel hollow sections in the European domestic market increased sharply because of rapidly rising feedstock hot-rolled coil prices, sources told Fastmarkets on Wednesday December 23. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?800-820 ($976-1,001) per tonne on Wednesday, up by ?,?60-70 per tonne from ?,?740-750 per tonne a...Read More

Egypt's steel rebar consumption could fall to 3 million tonnes per year in 2021 if restrictions on construction are not eased further, Ramy Saleh, chief business development officer at El Marakby Steel said during Fastmarkets' Middle East Iron and Steel virtual conference on Thursday December 17. Speaking on the Egypt panel, Saleh said Egypt's steel sector has suffered from low consumption this ye...Read More

The US Department of Commerce has officially adopted the Aluminum Import Monitoring and Analysis (AIM) system, which will publish data aggregated from licenses that US companies will soon be required to obtain before importing aluminium products."The new program will enable Commerce and the public to better detect potential transshipment and circumvention involving aluminum products - helping to e...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 23.Read More

Chilean state copper producer Codelco has increased the volumes sold into annual cathode supply contracts for 2021, its chief commercial officer Carlos Alvarado told Fastmarkets this week.Codelco produces around 1.7 million tonnes of copper per year - equivalent to 7% of the world's total. The company's regional offers to customers tend to set a benchmark for similar annual supply deals that...Read More

China will reduce the provisional import tariff on non-alloyed nickel, unwrought, with harmonized system code of 75021090, from January 1, 2021, the Customs Tariff Commission of China's State Council said on Wednesday December 23. The provisional import tax will be lowered to 1% from 2% at the start of 2021 in a bid to promote imports of the products to meet domestic demand, the commission said in...Read More

Base metals recovered some lost ground in non-descript trading on the morning of Wednesday December 23 on the London Metal Exchange, with zinc rising the most after two days of losses caused by the news of a new Covid-19 variant damaging sentiment.Three-month zinc was up by 1.37% from the Tuesday 5pm close at $2,813 per tonne. The metal had the biggest dip on Tuesday, ending 2% lower at $2,775 per...Read More

Base metals prices on the Shanghai Futures Exchange were mainly lower this morning, Wednesday December 23, while those on the London Metal Exchange were mixed.Metals and broader markets seem to be settling down and oscillating sideways ahead of the Christmas and New Year holidays, suggesting markets are content to consolidate while many cross currents muddy the waters. US President Donald Trump re...Read More

Base metals prices on the Shanghai Futures Exchange were mainly lower this morning, Wednesday December 23, while those on the London Metal Exchange were mixed.Metals and broader markets seem to be settling down and oscillating sideways ahead of the Christmas and New Year holidays, suggesting markets are content to consolidate while many cross currents muddy the waters.US President Donald Trump reb...Read More

Steel reinforcing bar prices in the United States rose to a 32-month high following a second round of mill hikes and an ongoing supply shortage, but were eclipsed by higher import prices. Fastmarkets assessed the price for steel reinforcing bar (rebar), fob mill US at $35.50 per hundredweight ($710 per short ton) on Wednesday December 23, up 2.9% from $34.50 per cwt the week before and the highest...Read More

Imports of finished steel to the United States fell month on month in November due to lower bloom, billet and slab volumes, according to US Census Bureau data.The US imported 1.24 million tonnes of steel products in November, down 9.5% from 1.37 million tonnes in October, preliminary Census data showed.Imports of bloom, billet and slab dropped 27.4% to 170,272 tonnes in November from 234,434 tonne...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for November Durable Goods Orders was an increase of 0.3% versus a gain of 1.3% in October. Actual was an increase of 0.9% Excluding Transportation Orders, consensus for November Durable Goo...Read More