Hot-rolled coil prices in the United States have remained steady above $33.50 per hundredweight ($670 per short ton); meanwhile, market activity has slowed, with buyers waiting to purchase more material amid expected additional increases and rising offer prices.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated $33.57 per cwt ($671.40 per ton) on Wednesday October...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 21.Please click...Read More
Low demand for heavy steel plate in Europe did not allow steelmakers to achieve their targeted price increases and threatened instead to drag prices downward, sources told Fastmarkets on Wednesday October 21.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged at ?,?460-470 ($543-555) per tonne on October 21.The assessment reflected achievable p...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 21 that are worth another look....Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 21.Please click...Read More
The situation in the Silver Market is changing rapidly... by Steve St Angelo of SRSrocco ReportWith the continued uncertainty in the markets and financial system, the U.S. Mint Silver Eagle sales for the last quarter of 2020 are forecasted to triple compared to the same period last year. Already, sales of Silver Eagles so far in October have surpassed the total during the entire fourth quarter...Read More
Which cabal flunky will try to short silver on the next run up, and with it DESTROY the entity just as it's done every time in the past?by Bix Weir of Road to RootaAll eyes on identifying which cabal flunky will try to short silver on the next run up...with it DESTROY the entity just as it's done every time in the past? Read More
The three-month price of copper on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 21, reaching its highest in more than two years and aided by a downturn in the US dollar index, while LME nickel's price rally cooled against selling pressure over the afternoon.Copper's outright price on the LME closed at $6,991.50 per tonne on Wednesday afternoon,...Read More
Despite JP Morgan's record spoofing fine, deterrence questions remain? HINT: THERE IS NO DETERRENCE!!! THE FINES STOP NOTHING!!!by Jason Burack of Wall St For Main StDespite JP Morgan's record spoofing fine, deterrence questions remain? HINT: THERE IS NO DETERRENCE!!! THE FINES STOP NOTHING!!!FULL SHOW NOTES AND LINKS HERECommit to tipping us monthly for our hard work creating high level, thought...Read More
Iron ore futures gained again on Wednesday October 21, following an uptrend in steel futures amid a drop in steel inventories, with the seaborne market remaining stable on limited trading activity, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $120.49 per tonne, up $0.88 per tonne62% Fe low-alumina fines, cfr Qingdao: $120.64 per tonne, up $0.59 per tonne58% Fe fi...Read More
RAPAPORT... Petra Diamonds plans to hold a special tender of five blue diamonds it recovered from the Cullinan mine in South Africa last month.The sale of the Letlapa Tala collection, which means "blue rock" in the northern Sotho language spoken in the region, marks the first time this number of blue diamonds has been offered for sale at once, Petra said Wednesday. The high-quality, type IIb stone...Read More
Domestic prices for steel cold-rolled coil in Europe were fairly stable in the week to Wednesday October 21 with buyers continuing to monitor the market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?570-590 ($673-696) per tonne on October 21, compared with ?,?570-580 per tonne a week earlier.The assessment reflected "workable" p...Read More
RAPAPORT... Gemological Science International (GSI) has launched a new online educational course dedicated to lab-grown diamonds, it said Tuesday.The Laboratory-Grown Diamond Essentials class was created in response to the rapid rise in the number of companies active in the sector, as well as increased consumer demand for synthetics, GSI noted. "It is imperative that the jewelry industry has the a...Read More
The three-month price of copper on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 21, reaching its highest in more than two years and aided by a downturn in the US dollar index, while LME nickel's price rally cooled against selling pressure over the afternoon.Copper's outright price on the LME closed at $6,991.50 per tonne on Wednesday afternoon,...Read More
RAPAPORT... Rio Tinto will launch a tender of large rough diamonds, including the last of its special stones from the Argyle deposit in Australia.The miner will feature 28,399 carats of special-sized rough - weighing more than 10.8 carats - from Argyle at the sale, which will take place in October and November, Rio Tinto said Tuesday. Colored diamonds from the site, which is due to close at the en...Read More
RAPAPORT... Botswana's government expects the country's economy to return to growth next year on the back of a recovery in the diamond sector.The nation's gross domestic product (GDP) will increase 7.7% in 2021, Thapelo Matsheka, minister of finance and economic development, forecast Monday in a meeting with the World Bank. GDP fell 24% year on year in the second quarter of 2020 as a result o...Read More
(IDEX Online) - Total sales of jewelry and watches in the US kept climbing in August, up by 9.3 per cent. That's the biggest monthly increase for four years. The July figure has been revised down from 9.0 per cent to 7.5 per cent, based on through-the-till transactions, rather than estimates. Revised sales for June were actually slightly higher, up from 3.7 per...Read More
(IDEX Online) - A team of jewelers in India have created a ring set with a record 7,801 diamonds.The design, based on a rare, sacred Himalayan flower, has 46 petals, with diamonds covering every available surface.The ring was painstakingly crafted over 11 months by The Diamond Store by Chandubhai, in Hyderabad - part of Hallmark Jewellers.It narrowly beat the previous holder of the Gui...Read More
(IDEX Online) - The US government has imposed sanctions on an Australian gemstone trader over his alleged links to al-Qaeda, the terror group behind the 9/11 attacks that claimed almost 3,000 lives. It says Ahmed Luqman Talib, 30, from Melbourne, acted as a "financial facilitator", moving money round the world to fund terrorist activity.Police raided his home yesterday in the Melbourne suburb...Read More
A summary of W Resources third-quarter results at its La Parilla, tungsten and tin project in the Extremadura region of Spain, according to a quarterly production report released on Wednesday October 21.In brief: Tungsten and tin concentrate production totaled 77.6 tonnes during the quarter, down by 13% on a like-for-like basis and up by 104% on a pro-rata basis (third-quarter 2020 production was...Read More