ASX-listed Lucapa Diamond Company says further analysis of diamonds recovered at its Lulo project, in Angola, has confirmed the presence of rare Type IIa gems and light fancy yellow diamonds.This follows after the company earlier this week announced the recovery of 45 diamonds weighing 30.3 ct from a stream bulk sample that was taken from the Canguige tributary draining into the Cacuilo river vall...Read More

The Turkish deep-sea scrap import market went quiet at the beginning of the week, with no significant bookings heard, sources told Fastmarkets on Monday February 24.The Turkish steel producers booked eight deep-sea cargoes at rising prices last week, totaling some 250,000 tonnes.However, market participants believe prices have now stabilized, and no further changes are expected...Read More

Turkish domestic scrap prices have continued to increase over the past week in response to rising imported scrap values, market sources said on Monday February 24.Prices for imported scrap have been climbing in recent weeks on demand from Turkish steel producers. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $284.04 per tonne on February 21, up from $274...Read More

Rising imported ferrous scrap prices in Turkey provided upward momentum to global scrap prices during the working week ended Friday February 21, with prices in most major import destinations surging due to the boost in demand.Turkish import scrap prices rise on buying spreeUS export scrap prices push upward on fresh Turkish dealsTaiwan import scrap prices surge on higher freight costs, Vietnam pri...Read More

Seaborne iron ore prices were largely steady on Monday February 24 following an upward trend last week, with market participants contemplating the direction of prices for this week.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.88 per tonne, down $0.37 per tonne.62% Fe low-alumina fines, cfr Qingdao: $92.82 per tonne, down $0.34 per tonne.58% Fe fines high-premium, cfr Qingdao: $79.72...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesAltiplano said it planned to advance the Hugo decline up to 53m vertically below the 395m level and allow it to access a potential 200,000 tonnes of copper-gold mineralised material."We are excited to move the project forward as we work on this expansion and the development and building of the onsite processing facility," rece...Read More

Seaborne coking coal prices were flat on Monday February 24, with market participants waiting for new drivers to emerge in China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $159.20 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.13 per tonne, unchangedHard coking coal, fob DBCT: $141.63 per tonne, unchangedHard coking coal, cfr Jingtang: $149.44 per tonne, unchangedA co...Read More

Anglo American has revised its metallurgical coal production guidance for 2020 to 19-21 million tonnes, down by 2 million tonnes from an earlier guidance of 21-23 million tonnes, the miner said late last week.The lower guidance is due to a roof collapse at its Moranbah North mine in Queensland,...Read More

* Zinc falls to lowest since June 2016 * Nickel sinks to seven-month low * Copper, aluminium at weakest in about two weeks * Aluminium has biggest short position on LME -broker (Updates with closing prices) By Eric Onstad LONDON, Feb 24 (Reuters) - Zinc hit its lowest level sinceJune 2016 on Monday and other industrial metals prices alsoslumped on fears the spread of the coronavirus outside Chinaw...Read More

China's hot-rolled coil prices rose in the eastern region but weakened in the north on Monday February 24 on mixed sentiments caused by downstream industries' low operating rates despite many companies having resumed work.DomesticEastern China (Shanghai): 3,550-3,570 yuan ($505-508) per tonne, up 50 yuan per tonneNorthern China (Tangshan): 3,350-3,360 yuan per tonne, narrowing downward by 20 yuan...Read More

Broader markets are seeing risk-off while they focus on the spread of the novel coronavirus (2019-nCoV) this morning, Monday February 24, after the number of cases and deaths escalated outside of China, especially in South Korea.China remains in a very difficult position as it needs to ramp-up the return to work, while at the same time the virus is not contained. China exported $60 billion of auto...Read More

China's domestic rebar prices increased on Monday February 24 due to a pick-up in activity among trading houses, market participants said. Eastern China (Shanghai): 3,460-3,490 yuan ($492-496) per tonne, up 40 yuan per tonne  Northern China (Beijing): 3,390-3,420 yuan per tonne, up 40 yuan per tonne Some traders took orders from end-users with delivery time in February and March in late...Read More

Equity Index futures were lower this morning. S&P 500 futures were down 85 points to 3,259.25. Index futures responded to concerns that the coronavirus has spread beyond China. Several sectors responded strongly to rising coronavirus concerns. Gold jumped $33.60 to U.S. $1682.20 per ounce. WTI crude oil dropped $2.02 to $51.32. Technology stocks were notably weaker. Apple fell $3.48 to $53.28....Read More

Key data from the pricing session in Europe and Asia for the week ended Friday February 21. Europe Key driversPrices for silicon grades 4-4-1 and 5-5-3 jumped again in Europe due to a lack of prompt shipments exacerbating already tight supply.The novel coronavirus (2019-nCoV) outbreak has caused disruptions to the flow of material from China.A number of European buyers reported difficulty...Read More

Key data from the pricing sessions in Asia and Europe in the week to Friday February 21. China Key drivers  Some antimony suppliers lifted their offer prices again and were resistant to compromising on offers last week, citing limited available cargo, according to market sources.  A number of producers and traders held off from offering in anticipation of higher prices in the coming week...Read More

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ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of  market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More

The price of UG2 chrome ore dropped in the week to Friday February 21 due to lower bids from alloy smelters after China's major stainless steel mills kept their February tender prices flat month on month. China's Tsingshan Group and Taiyuan Iron and Steel (Tisco) held their ferro-chrome tender prices for February delivery unchanged from January. The latest tender prices came as a shock to the mark...Read More

QUESTION: Hi MartyI hear what you are saying about the next gen and Gold vs BTC. To me it begs the question as to how the Next Gen’s look at crypto’s. Is there an argument that they like BTC etc because it is anonymous [mostly] and not part of the ‘system’. If that is the case, what will they think when Govs adopt sovereign crypto’s and outlaw BTC. Will they then loo...Read More

QUESTION: My reading of the gold was that for the slingshot up to dramatic new highs it needed the fakeout bear trap just below the 1000 mark. Since it took out your 1,362.50 number and the yearly bullish reversal at the end of 2019, does that mean the slingshot is now dead? Do you think the shift to millennials and how they rush into Bernie’s arms means that gold is losing its luster for...Read More