The latest forecasts from Fastmarkets' team of analysts are ready to view.Flat product prices in the US moved largely in line with our expectations in October, posting impressive gains across the product range, and slightly exceeding our forecasts for coil products.Domestic hot-rolled coil prices averaged $722 per tonne in October, exceeding our forecast of $705 per tonne forecast price.Although w...Read More
Domestic prices for hot-rolled coil in Northern Europe moved up day on day on Thursday November 5, due to long lead times at European mills and a lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?511.34 ($597.98) per tonne on Thursday November 5, up by ?,?6.23 per tonne from ?,?505.11 per tonn...Read More
High voter turnout as US election reflects divided country. Rising expectations for holidays despite American election uncertainty and second round of Covid-19 lockdowns. Consumer spending expected to be in line with last year. Jewelers begin seasonal promotions early, with emphasis on e-commerce. Polished prices stabilizing as buyers complete holiday orders. 1 ct. RAPI +1% in Oct. Rough trading s...Read More
RAPAPORT... Sarine Technologies will launch a diamond-scanning center in Dubai following Israel's peace deal with the United Arab Emirates (UAE).The Israel-headquartered company will partner with Trigem, a Dubai-based provider of services to the diamond industry, which will operate the center under license from Sarine. Members of the trade will be able to use Sarine's Galaxy inclusion-mapping...Read More
Steel rebar and billet prices have remained stable in Egypt in the week ending Thursday November 5, with demand being very weak, sources have told Fastmarkets.Egypt had reduced the safeguard duty it imposed on billet and rebar imports the week before.The duty for imported billet has been reduced to 13% for the cif market but with a minimum of $60 per tonne. This compared with a 16% duty and $75 pe...Read More
RAPAPORT... Mountain Province's revenue fell 14% year on year to CAD 47.3 million ($36.1 million) in the third quarter as Covid-19 limited the miner's ability to sell rough.The company held only one standard sale during the three months ending September 30, compared with two or three during a usual quarter, it reported Wednesday. Its revenue for the period came from that tender in Antwerp, as...Read More
RAPAPORT... Lucara Diamond Corp. has sold a 549-carat diamond to Louis Vuitton through a partnership that will see the luxury retailer craft bespoke pieces to match client requests. "In line with their long tradition of personalization, Louis Vuitton envisages...the ultimate personalized high-jewelry experience, and the opportunity to create a truly unique gem, a storied family heirloom," Lucara s...Read More
(IDEX Online) - Israel's diamond tech firm Sarine is to open a rough diamond scanning centre in Dubai, following the historic normalization agreement with UAE.It will be operated by the diamond service provider Trigem DMCC under license from Galatea, a wholly-owned subsidiary of Sarine. Both sides will split the per carat service fees will be split.Sarine said it recognized that Dubai is now...Read More
(IDEX Online) - Louis Vuitton has struck a deal to cut and polish a second giant diamond for Canadian miner Lucara. The 549-carat Sethunya (pictured) was recovered from the Karowe mine, Botswana, in February. It is the fourth largest stone ever found in the country. The agreement with the French fashion and luxury house follows a deal to cut an even bigger stone from the same mine - th...Read More
(IDEX Online) - Specialty jewelers' sales in the US have rebounded dramatically after the Covid-19 disaster of March, April and May, according to IDEX Research estimates. The turn-around came in early summer as those retail merchants were able to re-open their stores. Specialty jewelers' sales finally showed positive year-to-year comparisons in both August and September. ...Read More
As the aluminium price surges to an 18-month high, alumina market participants are debating how it is influencing the raw material's market direction. The London Metal Exchange three-month price hit $1,913 per tonne on Wednesday November 4 - the highest since April 2019 - and closed trading at $1,908.50 per tonne at the LME 5pm ring kerb. The aluminium price has been on an upward trajectory over t...Read More
Vale has entered into a 30-day exclusivity agreement to discuss the sale of nickel-cobalt operation Vale New Caledonia (VNC) with a consortium comprised of current management and employees of the unit, as well as state investors and Swiss trading firm Trafigura, the Brazilian mining company said on Wednesday November 4.Vale's subsidiary Vale Canada is carrying out negotiations, which include, "out...Read More
London Metal Exchange three-month base metals prices were mixed during morning trading on Thursday November 5, with slow progress in the US presidential election capping momentum, while aluminium futures fell after a contango returned across its benchmark forward curve.At the time of writing, presidential candidate Joe Biden remains ahead of incumbent Donald Trump, according to data compiled by th...Read More
Australia-origin copper concentrates bound for China are being diverted on the water and ahead of shipment next year, after Chinese buyers were reportedly told to comply with an "unofficial order" to restrict the material's entry this week.Europe, Japan, India and Southeast Asia have been tabled as potential alternative destinations to receive offers of the concentrates, either by spot sales or th...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 5 that are worth another look.Mexican steelmaker Ternium intends to start operations at its new hot-rolling mill in the country's northeastern Pesquer?-a city in July 2021, it has announced.Australia-origin copper concentrates bound for China are being diverted...Read More
Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRamelius now among WA gold frontrunnersSPONSOREDramelius resourcesAgile Mining - The Future is Smaller. Bigger is not always betterSPONSOREDproudfootWith Cascabel and its Alpala deposit moving towards feasibility, Ward is happy to be focusing on discovery exploration and...Read More
Mexican steelmaker Ternium intends to start operations at its new hot-rolling mill in the country's northeastern Pesquer?-a city in July 2021, it has announced.The new equipment, from an investment of $1.1 billion, was expected to gradually increase production from July to the end of 2021, chief executive officer M??ximo Vedoya told analysts in a conference call on Wednesday November 4."The date f...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The agency said C1cash costs fell to US1.21 per pound in the second quarter compared with the same period in 2019, a reduction of 24c/lb.Read More
Domestic prices for steel cold-rolled coil (CRC) in Europe moved up slightly in the week to Wednesday November 4, supported by good order books at domestic mills, sources told Fastmarkets this week.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe was ?,?580-595 ($678-696) per tonne on November 4, up compared with ?,?580-590 per tonne a week earlier.The assessm...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.JORC 2012 resources signed off by independent consultant Mining Plus are now 267,000oz gold and 2,183 tonnes copper for Gadir, compared with 172,000oz reported previously. Anglo Asian says Gadir reserves total 49,000oz gold and 1,91t of copper. Scoped for growth: Nevada Copper shifts into product...Read More