Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
Nickel, a key raw material in lithium-ion batteries used in electric vehicles (EVs), has gradually grown its market share amid a global shift away from fossil fuels.But with lithium iron phosphate (LFP) batteries making a comeback in the EV market in China, a shadow is being cast on the growth potential for nickel consumption in 2022.The stainless steel market, which accounts for approximately 90%...Read More
Base metals prices on the London Metal Exchange were largely up at the 5pm close of trading on Thursday November 11, after a strong morning performance and reassuring news that emerged from the Chinese property sector."Chinese stock markets gained, on growing confidence that the authorities would ease the crackdown on the property sector and support developers," Anna Stablum, LME desk analyst at M...Read More
Seaborne coking coal cfr prices continued to drop on Thursday with new offers at lower prices emerging, while there was a trade in the fob market after a quiet week.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $522.01 per tonne, down $8.14 per tonneHard coking coal, cfr Jingtang: $464.62 per tonne, down $10.10 per tonnePremium hard coking coal, fob DBCT: $400.49 per tonne, down $0.99...Read More
Seaborne iron ore prices rose on Thursday November 11, tracking the upward movements in Chinese futures and front-month swaps contracts, but most market participants remained cautious because of weak demand for physical iron ore, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.57 per tonne, up $3.67 per tonne62% Fe low-alumina fines, cfr Qingdao: $94.03 per tonn...Read More
The sky's the limit! It's happening! What's happening? The end of silver price suppression...by Bix Weir of Road to RootaSilver is the ONLY thing that can Destroy the Criminal Market manipulating Banks. Hang on tight as the price blows by the "moving averages" on it's way past $30/oz...past $50/oz...and then it's THE SKY'S THE LIMIT!!*** Please Note: If our comment section looks different, it's be...Read More
First gold production from the lower mine is expected towards the end of 2023.Read More
Turkish steel mills were quiet in the deep-sea scrap import markets on Thursday November 11 after booking two cargoes from the Baltic Sea region, sources told Fastmarkets.A steel mill in the Marmara region had booked two Baltic Sea cargoes late on Tuesday November 9 at $497 and $500 per tonne cfr on HMS 1&2 (80:20) basis. Turkish steelmakers required more cargoes for December,...Read More
Steel billet prices in Turkey have weakened over the past week amid limited demand in the country, market participants told Fastmarkets on Thursday November 11.Steelmakers in the country have been struggling with weak finished long steel sales in the export outlets. Therefore, demand for billet has remained soft.Suppliers in the Commonwealth of Independent States have lowered their billet offers t...Read More
The copper scrap market in the United States primarily remained steady on Wednesday November 10, with market participants saying demand and supply remain in good balance.One seller said that falling demand overseas, namely from China, was currently keeping prices stable but that US demand remained very high. "If I have to pound the phone to sell copper, it's not hard to see it's an oversupply...Read More
Polished trading robust; US holiday orders driving demand. Bridal strong ahead of December engagement season, with spike in weddings expected in 2022. Designers using alternative shapes to satisfy consumer interest in unique jewelry. Rough demand steady and prices high during De Beers sight. Alrosa Oct. rough sales -2% to $293M. Lucara 3Q revenue +76% to $73M, profit of $13M vs. loss of $5.4M. Chr...Read More
RAPAPORT... De Beers increased prices of certain lower-value rough diamonds at its November sight as US consumer demand strengthened ahead of the holidays.Prices in the cheapest categories rose by low-single-digit percentages, customers told Rapaport News. This included stones under 0.75 carats, as well as items in piqu?(C) and other lower-quality categories. De Beers declined to comment.Whil...Read More
Kinross said in its September quarter results the mill was ramping up and was expected to reach pre-fire throughput levels in December, with Q4 production from the asset forecast at 15,000 goldRead More
RAPAPORT... Alrosa has raised its production plan for this year amid buoyant rough demand and a tight supply situation.The miner will recover around 32.5 million carats in 2021, compared with a previous outlook of 31.5 million carats, it said Thursday in its quarterly earnings report. The increase had been under consideration since earlier this year, as rough sales have soared and inventories...Read More
RAPAPORT... A collection of Romanov jewels smuggled out of Russia for safekeeping during the 1917 revolution has smashed its high estimate at a recent Sotheby's Geneva sale.The set, which includes a 26.80-carat Ceylon sapphire and diamond brooch and a pair of earrings with step-cut sapphires weighing 6.69 and 9.36 carats, went for $884,972 at Wednesday's Magnificent Jewels and Noble Jewels sale, S...Read More
New life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldPolarX finds extra copper potential in AlaskaSPONSOREDpolarxAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningAt the COP26 conference in Glasgow, in the past week, Australian prime minister Scott Morrison outlined a techno...Read More
(IDEX Online) - Tributes have been paid Helene Fortunoff, who built a houseware business into a multi-million dollar jewelry empire. She has died aged 88.She established the fine jewelry division of Fortunoff in 1957 with her first husband Alan Fortunoff, building up a network of stores with flagship on Fifth Avenue. She was highly respected as leader in jewelry merchandising and design.She...Read More
Europe's biggest copper producer, Aurubis, has approved the planned construction of a secondary smelter in the US state of Georgia to tap into the availability of recycling materials and lower electricity costs in the country, the company said on Wednesday November 10.When fully operational, the plant could process as much as 90,000 tonnes per year of complex scrap, including circuit boards and co...Read More
(IDEX Online) - A 1957 Omega watch shattered all expectations when it sold for $3.4m - 30 times its high estimate.The stainless steel Speedmaster Broad Arrow Ref. 2915-1 (pictured) with chocolate brown "tropical" dial became the most expensive Omega ever sold at auction.It broke a record set Elvis Presley's Tiffany-signed Omega, a gift from RCA Records in 1960, which sold for $1.8 milli...Read More