Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.As we look to 2020, copper is faced with a finely balanced market. For now, positive investor sentiment around copper’s fundamentals is supporting higher prices. Stronger demand growth is underpinned by new semis capacity, while...Read More
Domestic prices for hot-dipped galvanized coil (HDG) steel in Northern Europe increased in the week to Wednesday October 21, supported by reduced availability of the material in the spot market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe was ?,?595-615 ($702-726) per tonne ex-works on October 21, up by ?,?5-15 per tonne from ?,?590-60...Read More
Sentiment improving as holiday orders and shortages support polished prices. Cutters planning brief Diwali break amid rise in production. US holiday shoppers expected to keep spending in line with last year at average of $998, says NRF. Jewelers with strong digital presence doing well. Fewer 3Q bankruptcies than expected as JBT reports US industry decline of 3% to 24,258 businesses. China strong....Read More
RAPAPORT... De Beers' sales and production rebounded in the third quarter as the impending holiday season revitalized the diamond market following months of slow sales.Rough sales totaled 6.6 million carats during the three months ending September 30, a sharp increase from 300,000 carats in the second quarter, parent company Anglo American reported Thursday.Though sales volume was down 11% ye...Read More
RAPAPORT... US spending on holiday gifts will be similar to last year as consumers look to celebrate after the uncertainty and stress of the pandemic, according to the National Retail Federation (NRF)."Consumers have demonstrated their resilience and adaptability throughout these extraordinary times," NRF CEO Matthew Shay said Wednesday. Americans said they would shell out approximately $998 on se...Read More
RAPAPORT... Indian diamond manufacturers are planning a curtailed Diwali break as they scramble to fulfill US holiday orders amid a shortage of polished.Factories will shut for five to 12 days instead of the usual two to three weeks, aiming to offset months of inactivity due to Covid-19, manufacturing executives said this week. Demand is growing ahead of the Christmas and Chinese New Year sea...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
A large cargo of Ukraine-origin steel billet was heard sold into the Gulf Cooperation Council (GCC) region in the week to Thursday October 22, while other regions were waiting to see how the market would move.A 50,000-tonne batch of Ukrainian billet was reported sold to Saudi Arabia at a price close to $440 per tonne cfr, according to estimates by market participants. This would be equivalent to s...Read More
(IDEX Online) - Petra is to sell a unique collection of blue diamonds, recovered within a week at its iconic Cullinan mine, in South Africa.The Type IIb diamonds, weighing between 9.61 carats and 25.75 carats, are all described as being of significant color, clarity, size. They contain a small amount of boron, which determines their blue color.They've been named Letlapa Tala, which means "blu...Read More
(IDEX Online) - An extremely rare 74.48-carat fancy yellow diamond is to headline a sale of rough by Rio Tinto from its mines in Canada and Australia.The diamond (pictured) has been named the Diavik Helios, after the Canadian mine where it was found, and the pure yellow sunlight emitted by the mythical Greek god of the Sun.The Specials Tender of stones over 10.8 carats also includes 28,399 carats...Read More
(IDEX Online) - Veteran diamond industry journalist Rob Bates is making his debut as an author - with the release of a murder mystery set in New York's Diamond District.After 25 years' writing about real-life intrigue in the world of gems, he's penned A Murder is Forever, a fictional account of conspiracy, death, secrets and a $4m pink diamond.Mimi Rosen, the central character, does...Read More
Multiple battery chemistry offerings will continue to co-exist in the marketplace, according to Ernie Ortiz, president and managing director at Lithium Royalty Corporation."The future will be balanced and diversified across battery chemistry. [Original equipment manufacturers] acknowledge that battery chemistry is not a one-size-fits-all approach," Ortiz said during the Focus Day on electric vehic...Read More
The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Thursday October 22, making a steady approach toward resistance at the $2,600-per-tonne threshold.Copper futures were the laggard over the day, in spite of Wednesday's upsurge.Zinc's underlying price on the LME closed at $2,578.50 per tonne on Thursday afternoon, climbing from an intrad...Read More
Freeport-McMoRan has proposed expanding its existing copper smelter at Gresik in Indonesia by 30% and adding a precious metals refinery in place of constructing an entirely new smelter nearby. The chief executive officer of the US copper producer said this option was attractive to the government of Indonesia as an alternative to undertaking a major construction project during the Covid-19 pandemic...Read More
The Aluminium Stewardship Initiative (ASI) will revise its performance standard to align with the London Metal Exchange's responsible sourcing requirements, Marieke van der Mijn, director of impacts and partnerships at ASI said on Thursday October 22. Speaking at the exchange's focus day during LME Week van der Mijn explained: "ASI is working closely with the LME to align the ASI guidance and stan...Read More
US copper producer Freeport-McMoRan said its Cerro Verde copper mine in Peru is operating at around 90% of its 2019 annual average while it works to restore operations following restrictions imposed due to the Covid-19 pandemic. The mine, in which Freeport owns a 53.56% stake, saw operating rates average 351,000 tonnes per day of ore during the third quarter, the company said. Consolidated sales i...Read More
Freeport-McMoRan expected consolidated copper sales for the full year of 2020 to be around 3.18 billion lb, or 1.44 million tonnes, slightly more than the 3.15 billion lb, or 1.42 million tonnes, that was forecast in July.In its earnings statement for the July-September quarter, published on Thursday October 22, the miner said that it expected consolidated copper sales in 2021 to rise to 3.85 bill...Read More
Freeport-McMoRan is to restart its Chino copper mine in the US state of New Mexico at 50% of capacity starting in 2021, the company has said.The US copper producer had been evaluating options for the mine, which was shuttered in April after...Read More
Reinforcing bar prices in the United States were stable week on week on mostly flat domestic ferrous scrap prices and a partially successful mill price hike, market participants said.Those factors appear to have offset - at least for now - concerns about construction demand and outright pessimism about infrastructure spending heading into 2021, some sources said.Fastmarkets ass...Read More
A summary of the financial results for Turkey's largest steelmaking group, Erdemir, for January-September 2020.In brief Erdemir Group's local flat steel sales totaled 5.4 million tonnes in the first nine months of 2020, up by about 1.3% from 5.47 million tonnes in the January-September 2019. The company's local long steel sales decreased by 0.8% to 774,000 tonnes from 780,000 tonnes...Read More