Brazilian slab export prices increased in the week ended Friday January 31 amid recent deals, but there was growing uncertainty in the market for February bookings.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil rose to $460-475 per tonne on January 31 from $430-450 per tonne a week earlier.Deals for March-shipment Brazilian slab to the United States occu...Read More

The high-carbon ferro-chrome price in Europe rose at the top of the range on Friday January 31 following a bigger increase the week before. Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe price widened upward by 2 cents to $0.82-0.92 per lb on Friday. The market had risen by 5 cents in the previous week in response to increased demand from c...Read More

Here are five Fastmarkets MB stories you might have missed on Monday February 3 that are worth another look. The sell-off of Chinese steel futures this morning is a sign that "worse is to come" for global steel prices, market sources told Fastmarkets on February 3.Canadian copper producer Taseko has decided to take action to protect itself against the tumbling London Metal Exchange copper pri...Read More

Canadian copper producer Taseko has decided to take action to protect itself against the tumbling London Metal Exchange copper price.Vancouver-listed Taseko placed put options for 22.5 million lbs of copper (10,206 tonnes) - equivalent to 75% of February, March and April production at its British Colombia-located Gibraltar mine - it said in a notice on Monday February 3.Read More

Russian aluminium producer UC Rusal is suspending the operation of its Bauxite Company of Guyana (BCGI) business in Guyana on "serious illegitimate actions" but will continue to obtain bauxite supply from its other mines, it said on Monday February 3.Rusal owns 90% of BCGI, based in Georgetown, which has an annual production capacity of 2.3 million tonnes of bauxite. The remaining 10% belongs to t...Read More

View the Fastmarkets holiday pricing schedule for 2020 and 2021. Click on the image below to view the Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2020 and 2021.The 2020 calendar has been updated to include the extended Lunar New Year holiday in China, which affected certain prices. See the following pricing notices for...Read More

The three-month copper price on the London Metal Exchange was higher during morning trading on Monday February 3, with price action improving by 0.5% against strong turnover, while nickel futures also climbed over the morning. Copper's outright price on the LME was recently at $5,590 per tonne, up from Friday's closing price of $5,567 per tonne, while turnover led the complex over the morning with...Read More

While markets in China catch up after more than a week of holiday, most base metals prices on the London Metal Exchange are rebounding because China's sell-off has not been as severe as feared.China's CSI 300 was down by 7.7%, while pre-market Dow Jones Futures are indicated up by 0.6%.SHFE copper price falls 7%, which was limit down, but were recently quoted off by 6.5%, suggesting some buying ha...Read More

Base metals prices on the Shanghai Futures Exchange were all down heavily at close of morning trading on Monday February 3, the first trading day after China's extended Lunar New Year holiday.The weakness comes amid heightened risk aversion stemming from a worsening coronavirus outbreak, which has resulted in a slump across most sectors this morning."The virus outbreak uncertainty and its impact o...Read More

Steel plate prices in the United States was flat during the week ended Friday January 31, with market participants expressing pessimistic views on the outlook amid negative trends in the ferrous scrap market.Sources reported lead times of 4-5 weeks at most mills, which could indicate that mills are under pressure to fill their order books. In a healthy market, plate lead times should be longer tha...Read More

While uranium spot prices were down 14% in 2019, supply and demand fundamentals for uranium are the "most bullish in years," and the sector "offers its most compelling value proposition since pre-Fukushima," Haywood Securities says in a new research note."Looking ahead, we believe we are in the early stages of a long-term bull market for the uranium investment theme and recommend investors begin p...Read More

Recent bookings of CIS-origin billet by customers in North Africa and by traders have helped to slow the downward trend seen in pricing in the week ended January 31.Nevertheless, market sentiment remained negative amid falling international prices for ferrous scrap as well as low demand for finished long steel products.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $393 per...Read More

Competition in the global steel markets remains fierce and here Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in January 2020.1. Turkey: rebar, pig iron, cold-rolled coil2. China: copper, aluminium and ferrous scrap3. Morocco: HRC from Turkey4....Read More

The flat steel export market in the Commonwealth of Independent States (CIS) was slow in the week ending Monday February 3, with the only price changes being seen in cold-rolled coil.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $475-490 per tonne on February 3, unchanged week on week.The workable market level was still estimated around $475 per...Read More

RAPAPORT... Sterling Jewelers has asked the US Supreme Court to reverse a lower-court ruling allowing an arbitrator to decide whether the company underpaid more than 70,000 women in a class action gender-bias case.The case alleges that Sterling - the division of Signet Jewelers that oversees Kay Jewelers and Jared - failed to provide proper pay equity and equal-opportunity promotions to femal...Read More

RAPAPORT... Global gold-jewelry demand dropped 10% year on year in the fourth quarter to its lowest level since 2011 due to economic slowdowns in India and China, the World Gold Council (WGC) reported.Appetite for gold jewelry in India fell 17% for the quarter, as prices of the yellow metal reached record levels in the second half of the year. The domestic slowdown in the country and lower demand...Read More

RAPAPORT... The Responsible Jewellery Council (RJC) has added supply-chain certification for silver to its chain-of-custody standard.The certification, which is voluntary, allows those in the trade to offer verification that their materials are responsibly sourced. The RJC has previously only certified gold and platinum."Our standard offers a tool for member companies to provide third-party-certif...Read More

RAPAPORT... Russia's Eximbank has started offering credit to rough-diamond buyers through a loan deal with an Antwerp-based Alrosa client, the miner said.The state-owned lender has agreed to finance purchases for manufacturer and trader Dali Diamond via a two-year revolving credit line in euros, Alrosa said. Dali began using the funds during the miner's January trading session."[Since] we oft...Read More

RAPAPORT... Higher-priced luxury timepieces have gained popularity among consumers in the past five years, according to a report by Watches of Switzerland. Timepieces valued above GBP 10,000 ($13,073) represented 37% of the group's sales in the men's market in 2019, compared with 34% in 2014, the jeweler reported Thursday in its 2019 Luxury Timepiece Market Trends Report. Those priced between...Read More

The new year began much the same as it ended - at least as far as polished prices were concerned - with very little happening.  In a pattern that seems to be repeating itself, January prices started at 120.99 and ended at almost the same point - 120.90 - with a slight dip at the mid-month mark that soon righted itself.   OutlookPolished prices have been depressed for the p...Read More