(IDEX Online) - Alrosa boss Sergei Ivanov has told Russia's President Vladimir Putin he's "confident" of a deal to sell millions of carats of rough to the government's Gokhran - its precious metals and gems repository.Such an arrangement would provide a lifeline for the miner, which is only now recovering from months of dismal sales as a result of the global pandemic.The Alrosa CEO...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Tuesday October 13 because buyers were staying in "wait-and-see" mode until the price trend became clear, sources have told Fastmarkets.The mills, however, continued to push for higher prices because they had good order books. The majority of Northern European steelmakers claimed to be sold out for December rol...Read More
(IDEX Online) - British fashion designer Debbie Wingham created a breathtaking $26m diamond-encrusted party dress for a billionaire birthday girl.It was studded with 15 red diamonds, from one and a half to four carats worth $23.8m in total, plus a host of other gems.Wingham has a reputation for adding extravagant sparkle to cake and couture for the ultra-rich. In 2015 she baked and decorated...Read More
The Turkish steel mills have purchased further deep-sea scrap material at firmer prices, market sources said on Tuesday October 13.A steel mill in the Izmir region booked a US cargo consisting of HMS 1&2 (80:20) at $285 per tonne and bonus at $295 per tonne cfr.The supplier did not wish to disclose the composition of the cargo when contacted.This compared with the previous US cargo sold on October...Read More
Global supply chain and logistics management company Mercury Resources LLC has combined forces with major national asset-based trucking company Beemac Inc to create Mercury Transportation Solutions LLC (MTS). The joint venture results in the enlarged company becoming Mercury Group, expanding its activities from global supply chain management and consultancy to include trucking...Read More
London Metal Exchange three-month base metals prices with the exception of aluminium were lower at the close on Tuesday October 13, following the downward course of United States equities markets over the course of the day. The Dow Jones Industrial Average shed more than 100 points or 0.3% on Tuesday amid news that coronavirus cases in the US had exceeded 8 million on the same day. A stronger doll...Read More
Argentinian aluminium producer Aluar reached 60% of capacity utilization for primary aluminium in October after running at 50% for more than six months amid action in the country to combat the Covid-19 pandemic, the company said on Friday October 9. "[We will] continue to gradually seek a production program that enables the partial resumption of the remaining capacity," Aluar stated in a filing wi...Read More
Europe's largest copper producer, Aurubis, sees sustainable copper production as a focal point for the development of the industry, safeguarding the future of copper supply while it recovers from one of the most challenging periods in history, the company's newest senior vice president of commercial, Michael Hellemann, has told Fastmarkets.The Hamburg-based copper producer's latest results stateme...Read More
The European Commission has placed provisional duties ranging 30.4% to 48% on aluminium extrusion imports from China, it said on Tuesday October 13. The commission launched the investigation on duties in February following a complaint by European Aluminium claiming member companies were being negatively affected by the dumping of Chinese exports of aluminium extrusions. Products from Guangdon...Read More
A summary of the operational results for Russia's Magnitogorsk Iron & Steel Works (MMK), for the third quarter of 2020.In brief In the third quarter, steel output was 2.88 million tonnes. This was up by 22.2% compared with the quarter before, when it was 2.36 million tonnes. That came amid a recovery in business activity and the launch of the company's hot-rolled products Mill 2500 in July. The mi...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Jefferies said satellite data showed finished copper inventories at Asian smelters had "significantly decreased" in 2020, while inventories at exchanges were also down."Inventories across tracked locations in Asia are down 15% year-to-date and should decrease further into year-end as the Chinese economy is reac...Read More
The domestic United Arab Emirates rebar price broke the steady streak held since mid-September this week after the low end of the range fell on weak demand, sources said on Tuesday October 13.Domestic rebar The country's biggest steel producer, Emirates Steel, continued to offer rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in October, stable since September 15. Fellow...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia remained fairly stable over the past week amid limited demand, sources said on Tuesday October 13. UAE Offer prices for hot-rolled coil from Indian suppliers remained steady week on week at $525-535 per tonne cfr. Market participants gave a workable price for India-origin HRC of around $525 per tonne, although no significa...Read More
A summary of the operational results for Russian steelmaker Severstal for July-September 2020.In briefSeverstal increased its share of steel product sales to the domestic market to 63% in July-September, from 56% in April-June, owing to the recovery of demand in Russia. Year-on-year, however, the share was down from 67%.Domestic demand in Russia was slow to appear this year due to the effects of C...Read More
Base metals prices on the London Metal Exchange were weaker across the board this morning, Tuesday October 13, while those on the Shanghai Futures Exchange were either unchanged or firmer, as were equities.* Equities seem to be maneuvering for a United States democratic presidency and all the extra stimulus that might bring.* But LME metals are not following equities this morning.Base metalsThree-...Read More
Liberty Steel UK has started producing "green" rebar at its Rotherham mill, targeting domestic infrastructure projects, it said on Thursday October 8.The site has an electric arc furnace (EAF) and rolling mill that last week started to make what the company says is "sustainably produced" reinforcing bar that will be used to support concrete structures in major construction and infrastructure proje...Read More
Vietnam ETF (VNM) moved above $15.20 extending an intermediate uptrend.Wills Tower Watson (WLTW), a NASDAQ 100 stock moved above $218.58 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Tuesday October 13thU.S. equity indices moved lower this morning. S&P500 futures were down 6 points in pre-opening trade. Index futures were virtually unchanged following release...Read More
Scrap prices in Mexico were largely stable in the week to Friday October 9, because of a flat outcome in the price settlements in the United States and low supply of material locally.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Baj?-o at 6,450 pesos ($304) per tonne on Tuesday October 13, and the corresponding steel scrap No1 heavy melt, consumer buying...Read More
A summary of operational results from Polish coking coal miner Jastrzebska Sp??lka Weglowa (JSW) for the quarter ended September 30, 2020.In brief JSW's operational performance improved with the European steel market slowly recovering from the effects of the Covid-19 pandemic. During the quarter, European steelmakers such as ArcelorMittal and Voestalpine started to gradually resume steelmaking cap...Read More
The market for deliveries of steel scrap to domestic consumers in the UK has mostly gone down so far in October, paring back the gains made last month, industry sources said in the week to Tuesday October 13.September's gains were being reversed because the weakness of European exports to traditional deep-sea destinations meant that there was increased scrap supply domestically, which weighed on p...Read More