Seaborne iron ore prices rose on Thursday February 6 amid concerns that a new cyclone will affect shipments from Western Australia, while Chinese port prices fell because of limited spot demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.17 per tonne, up by $1.86 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $82.50 per tonne, up by $2.35 per tonne. 62% Fe low-alumina fines, cfr...Read More

Seaborne coking coal market was largely quiet on Thursday February 6, although Canadian miner Teck Resources said it was expecting to sell fewer cargoes in the first three months of this year.Fastmarkets indicesPremium hard coking coal, fob DBCT: $150.65 per tonne, down $0.04 per tonnePremium hard coking coal, cfr Jingtang: $158.85 per tonne, down $0.21 per tonneHard coking coal, fob DBCT: $127.01...Read More

"It's all happening, right now as we speak!"by Bix Weir of Road to RootaLooks like JP Morgan is FINALLY being exposed as the engine behind Silver Price Manipulation for OVER A DECADE! WHY is this being leaked now? I think I know! Hang on tight. Read More

Logistics constraints caused by the transport system lockdown in China, imposed to contain the Wuhan coronavirus outbreak, were pushing European prices upward with inventory levels falling in Rotterdam.At the same time, the delays were adding to the pressure on traders which need to restock. Chinese material was not expected to arrive in European ports at least until March, Fastmarkets understands...Read More

Fastmarkets MB has corrected its weekly price assessment for steel billet imported into Turkey, which was published incorrectly on Thursday February 6 due to a reporter error.Fastmarkets' weekly price assessment for MB-STE-0116 steel billet, import, cfr main port Turkey, was originally published at $375-385 per tonne. This has now been corrected to $390-400 per tonne.Fastmarkets MB's price book an...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday February 6 that are worth another look.Chinese domestic prices suffer heavy falls on building steel inventory levels and persistent first-quarter demand worries, with rebar facing the toughest challenge.Chinese copper smelter Guangxi Nanguo has recently declared force majeure on shipments of copper concentrates, citing logistic...Read More

Copper fabrication businesses across China remained on extended closure and were expected to restart operations gradually from Monday February 10 at the earliest, but normal functioning was not expected until the end of February or early in March, Fastmarkets has learnt.China's public holiday for the lunar new year was initially to run for a week from January 24, but it was extended by the Chinese...Read More

The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday February 6, witha fresh inflow of some 3,475 tonnes pressuring its price action, while copper was little moved despite a fresh cancellation of 10,250 tonnes.Zinc's outright price on the LME was recently trading at $2,192 per tonne, a drop of 1.2% from Wednesday's closing price of $2,213 per tonne.&...Read More

The London Metal Exchange has opted to keep its traditional open-outcry format for closing prices after receiving negative feedback from its electronic nickel trial, the exchange said in a note to members on Wednesday February 5.With the decision made not to permanently change its closing price process, the LME's trade-at-settlement function (TAS), which allows participants to buy or sell a contra...Read More

The broad-based rally across markets continues with investors focusing more on the improving economic data than they are on the uncertain economic impact of the Wuhan coronavirus (2019-nCoV). Claims by Chinese media that a treatment for the virus had been found fueled the rallies yesterday, but the World Health Organization talked down the news.Asian equity indices up either side of 2% this mornin...Read More

Base metals prices on the Shanghai Futures Exchange edged up across the board during the morning trading session on Thursday February 6 on optimism over the emergence of a potential treatment for the novel coronavirus (2019-nCoV) that is spreading across the world."It was another strong day for risk, as markets pondered Chinese work restrictions possibly easing next week and the potential of a cor...Read More

US rebar prices remain steady despite lower import offers and declining ferrous scrap prices, market participants said.Fastmarkets assessed the price for steel reinforcing bar (rebar), fob mill US at $31-32 per cwt ($620-640 per ton) Wednesday February 5, unchanged from the prior assessment in mid-January.The assessment for steel reinforcing bar, import, ddp Houston, slipped to $590-600 per t...Read More

Turkish steel billet prices have fallen sharply in all markets over the past week because of the recent downturn in ferrous scrap import values, sources said on Thursday February 6.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $259.76 per tonne on Thursday, down from $272.52 per tonne a week before.Billet suppliers in the Commonwealth of Independent Stat...Read More

Turkish long steel export prices have gone down over the past week, in line with falling imported scrap values and sluggish demand for the material, sources said on Thursday February 6.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $410-415 per tonne on Thursday, down from the $425-430 per tonne of last week.Following the latest downturn i...Read More

A summary of the financial results for Austrian steelmaking group Voestalpine for the first three quarters of its current business year 2019/20, covering the period from April 1 to December 31, 2019.In briefCompany cites economic slowdown and non-recurring items for lower earnings, as well as gradual dampening of economic sentiment throughout the year Economic environment...Read More

Hong Kong shows postponed to May 18-21 as coronavirus impacts global trade. Weak Chinese New Year sales to reduce 1Q inventory replacement as jewelers are left with large volumes that didn't sell. Diamond markets quiet. Polished prices supported by shortages, particularly of 0.30 to 0.49 ct., D-F, IF-VVS2 goods. 1 ct. RAPI -0.4% in Jan. Manufacturers cautious, despite strong recent rough buying, a...Read More

Cautious sentiment amid tight liquidity and concerns about oversupply. Manufacturers maintaining low production to avoid flooding the market with goods. Steady demand for 0.30 to 0.50 ct. diamonds. Few overseas buyers in Mumbai after India canceled visas for Chinese visitors. Trade disappointed by 2020 government budget, which kept import duty on gold at 12.5% and polished diamonds at 7.5%. Roun...Read More

RAPAPORT... Andr?(C) Messika, a supplier of polished diamonds to the luxury jewelry market, has invested in a factory in Namibia, giving his company direct access to De Beers' rough supply for the first time.The diamantaire has partnered with Schachter & Namdar Asia (SN Asia), which has held the license for the factory since 2006, and has since become the largest employer of disabled and...Read More

RAPAPORT... Alrosa has named 58 companies that qualify for its long-term rough supply in 2020.The annual reshuffle saw the mining company remove Belgium-based Blue Gems and Russia's EPL Diamond from the roster, while it added Antwerp-headquartered IGC Group. The program, known as the Alrosa Alliance, enables customers to obtain guaranteed monthly volumes of rough, granting stability both to t...Read More

RAPAPORT... Lucara Diamond Corp. has unearthed a 549-carat white diamond at its Karowe mine, the fourth-largest stone in the history of the Botswana deposit.The unbroken stone, which is of "exceptional purity," is the first large diamond Lucara has recovered using its Mega Diamond Recovery (MDR) equipment, the miner said Wednesday. The unit, which the miner commissioned in 2017, is specifical...Read More