Vietnam's Hoa Phat Steel is close to obtaining certification from the United Kingdom Certification Authority for Reinforcing Steels (Cares), which would allow it to sell its rebar to the key markets of Singapore and Hong Kong, sources told Fastmarkets this week.Obtaining the certification means that a mill is able to produce construction steel to certain standards. For instance, in Singapore, reba...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 20 that are worth another look.Workers at steelmaker ArcelorMittal's plant in Ghent, Belgium, might go on strike from Thursday next week in a dispute over salaries, Fastmarkets heard on October 20.Trafigura has been drawing...Read More
Domestic prices for hot-rolled coil in northern Europe and Italy continued to slide on Wednesday October 20 due to reduced automotive demand and higher availability of material, sources told Fastmarkets.A bearish mood in the market made buyers cautious about making new purchases, sources said, although demand has started to pick up due to distributor restocking for the first quarter of next year....Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Alex Cook...Read More
Japanese local and export buyers have been locked in a fight for steel scrap in the week to Wednesday October 20, pushing up prices across the board, sources told Fastmarkets.Major electric arc furnace (EAF) mill Tokyo Steel on Wednesday announced it would raise its scrap buy prices by ?500-1,000 ($4.38-8.75) per tonne at some of its works starting Thursday October 21. This marks the second price...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 20 that are worth another look.Workers at steelmaker ArcelorMittal's plant in Ghent, Belgium, might go on strike from Thursday next week in a dispute over salaries, Fastmarkets heard on October 20.Trafigura has been drawing...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
Lead's three-month price set a new year-to-date peak of $2,427 per tonne on the afternoon of Wednesday October 20, together with nickel, which rose by almost 6% to more than $21,000 per tonne, with sentiment on the London Metal Exchange still bullish.Lead's three-month price closed at $2,417 per tonne on Wednesday, a 1.7% increase from its Tuesday closing price of $2,376 per tonne. "We envisage a...Read More
"...may not immediately extend to its own new all-time highs, but if...silver's not going to be at $23. I can assure you of that." by Craig Hemke via Sprott Money NewsMany of the base/industrial metals have been surging of late, and copper appears to be next. What impact, if any, can we eventually expect this to have on the price of COMEX silver?Let's start by recognizing that the ongoing bull ma...Read More
Seaborne iron ore prices movements were rangebound on Wednesday October 20 amid easing coking coal prices in China, which might have prompted some demand for low-mid grade iron ore fines, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.07 per tonne, up $0.03 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.21 per tonne, down $0.22 per tonne58% Fe fines high...Read More
Seaborne coking coal prices remained relatively stable on Wednesday October 20 with no trading activity. In China, market participants were cautious after the National Development and Reform Commission (NDRC) held meetings on thermal coal price controls on Tuesday.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.12 per tonne, unchangedHard coking coal, cfr Jingtang: $563.37 per tonn...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadership3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsLiberty began a 15,000m drilling programme in June focused on resource conversion from inferred to measured and indicated. Highlights...Read More
Cordero now hosts a sulphide measured and indicated resource of 541 million tonnes grading 20 grams per tonne silver, 0.06g/t gold, 0.29% lead and 0.Read More
The company has reported a new discovery at its Van target, with the first two drill holes returning higher grades than at its nearby Baptise deposit.Read More
Noront this week recommended a 70c per share bid from Andrew Forrest's Wyloo Metals, but BHP had five business days to match the offer. The board of Noront is backing the higher BHP offer.Read More
Look beyond market approach to project valuations: van ZylLeadership3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningIt closed at $10,487.50/t, returning towards the price for three-month copper, which was down 0.46% to $10,149....Read More
RAPAPORT... Kering's jewelry brands performed well in the third quarter amid the debut of new lines and strong demand in Asia."All jewelry houses delivered outstanding performances," the French luxury conglomerate said Tuesday. "Boucheron's new collections were very well received, resulting in exceptional growth, particularly in China and South Korea."Sales at the company's Pomellato brand remaine...Read More
RAPAPORT... Christie's will offer a 74-carat diamond necklace that could fetch up to $7 million at its upcoming Hong Kong auction.The piece contains a 73.68-carat, F-color, internally flawless center stone, called the Snowdrop Diamond, and 78 additional diamonds weighing a total of 130.92 carats. It will headline the auction house's November 28 Magnificent Jewels sale, together with a heart-shaped...Read More
RAPAPORT... De Beers continued to see strong demand at its latest sales cycle as manufacturers bought rough diamonds ahead of the holidays and the seasonal shutdown in India.Proceeds from the miner's eighth sale of the year - including the September sight - rose 5% year on year to $490 million, up from $467 million in the equivalent period of 2020, the company reported Wednesday. Sales were,...Read More
(IDEX Online) - De Beers today reported a fourth consecutive month of strong rough sales with proceeds from Sight 8 at $490m (provisional).Demand was driven, in part, by factories stocking up in India ahead of the Diwali two-week shutdown in early November.Sales for Sights 5, 6, 7 and 8 (June to October) have averaged sales of just under $500m, after a dip in May (Sight 4) to $385m.Sales for Sight...Read More