The latest forecasts from Fastmarkets' team of analysts are ready to view.The first quarter continued the trend of 2019 - for China to actively import relatively cheap metallics and semi-finished steel - but can this be sustained? The answer to this question will come down to the price competitiveness of the products, we believe. One additional incentive to continue to import metallics this year -...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The recent decline in Chinese scrap prices - to their lowest in a couple of years - even as demand rises, suggests that Chinese scrap supply is increasingly sufficient. In terms of scrap demand, the question is more about price attractiveness. Mini-mills were reducing demand in February, largely because steel margins on scra...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.While downward pressure mounts on the steelmaking raw material markets, premiums for higher-grade iron ores have been sustained despite narrowing operating margins at Chinese steelmakers. Chinese mills are operating with shrinking margins since the end of last year but the premium for high-grade ores remains high. Historical...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This week Fastmarkets' analysts and price reporters shared their views and recent findings in a webinar revealing some distinct fundamental tensions for steel, refining alloys and, of course, steelmaking raw materials such as iron ore.While the outlook for chrome and manganese ores and alloys is balanced, as far as market pa...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices have fared relatively well over the past couple of months in the face of the threat from the Covid-19 pandemic.In grade-304 material, the most common grade of stainless steel, prices were down by about 5-7% since the turn of the year - not bad, when compared with the falls in prices of other assets so f...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Having first hit Asia during early 2020, the Covid-19 viral outbreak is now having an even bigger impact on European countries and the US. Widespread lockdown measures have been put in place on people and industry, and economic activity has slowed markedly.For now, stainless steel markets in Europe and the US are yet to show...Read More
Most domestic ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Baj?-o increased week on week after reduced availability of material led some mills to accept higher offers in order to secure supply.Low scrap availability led one mill in Mexico's Bajio manufacturing hub to announce a price increase of around 100-200 pesos last week. Other scrap buyers avoided announcing...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 12.Please click...Read More
RAPAPORT... Alrosa's diamond sales plummeted 95% to $15.6 million in April, the lowest on record, as customers deferred purchases until the market improves.Rough sales slumped 96% to $13.1 million, while polished revenues fell 17% to $2.4 million, the Russian company reported Tuesday. "In response to the [coronavirus] situation, we have offered to our clients an option to buy the amounts of r...Read More
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.Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand.Wood Mackenzie senior...Read More
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.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
RAPAPORT... Sales of luxury goods will fall by 20% to 35% this year as the coronavirus-related slowdown is set to continue, Bain & Company predicted.Purchases of luxury items already dropped by approximately 25% in the first quarter, and the slump is likely to accelerate in the second quarter, Bain said in its global luxury report, which it released in collaboration with Italian luxury-br...Read More
RAPAPORT... BlueRock Diamonds has resumed operations at its Kareevlei deposit in South Africa after the government allowed the mining sector to reopen.The company expects to reach full capacity by the end of the month, it said Monday. However, the miner has suspended expansion plans for Kareevlei for the moment. "Management and the board have put a lot of effort and thought into the start-up...Read More
RAPAPORT... Indian authorities have allowed Mumbai's diamond and jewelry companies to reopen partially on condition that they limit their workforces and follow social-distancing rules.Trade members may operate with up to 10% of their staff members in order to fulfill export commitments, the state government of Maharashtra said in a statement Monday. No one from containment zones - coronavirus...Read More
Sales of the world’s largest diamond miner by volume, Alrosa, came to a near halt in April, with the company only selling $15.6-million in rough and polished diamonds in the month.This compares with sales of $152.8-million in March and $405-million in January this year.AdvertisementThe Russian company virtually stopped selling diamonds as governments across the globe were taking active...Read More
(IDEX) - Alrosa's monthly figures reveal the full impact of COVID-19, with April sales of rough and polished plunging to just $15.6m.That's a fall for the state-owned Russian miner of 96 per cent on $405m sales in January, before coronavirus lockdowns and travel restrictions came into force. Sales for the world's largest diamond producer by volume in 2019 were $3.3bn.Alrosa sou...Read More
(IDEX Online) - The case against lab-grown diamond companies accused of patent infringements is to go ahead, after a judge threw out their motions to dismiss.The Carnegie Institution of Washington and WD Lab Grown Diamonds, the manufacturer licensed to use its chemical vapor deposition (CVD) technology, are jointly bringing a case against competitors at a New York federal court.Defendants Fenix Di...Read More
(IDEX Online) - The billionaire who owned Firestar Diamond yesterday began his legal fight against extradition to India, where he is accused of defrauding the Punjab National Bank out of $1.85bn.Nirav Modi, 49, is alleged to have persuaded corrupt bank workers to approve low-rate loans for importing foreign goods, which he used to pay off debts. He was India's most wanted man and was the...Read More
Aim-listed BlueRock Diamonds has advised that its expansion plans for the Kareevlei diamond mine, in the Kimberley region of South Africa, remain on hold.The mine is, however, expected to reach full operating capacity by the end of May.AdvertisementThe mine has started ramping up operations, after having restarted following a complete shutdown of mines in South Africa from the end of March to...Read More
The recovery of zinc metal prices is set to continue with stronger Asian demand outpacing supply cuts, and there are no expectations for a review of annual zinc treatment charges (TCs) due to the Covid-19 pandemic, Nexa Resources chief executive officer Tito Martins said on Tuesday May 12."We are seeing a market adjustment in Asia," Martins told analysts and investors in the company's first-quarte...Read More