Here are five Fastmarkets MB stories you might have missed on Wednesday January 22 that are worth another look.China's export plate prices gained last week as mills raised their offers amid a stronger US dollar, but the market has been quiet this week ahead of the upcoming Lunar New Year holiday.European aluminium premiums edged up this week despite the backwardation seen in nearby London Metal Ex...Read More
A summary of Antofagasta's production and sales results for the fourth quarter and full year of 2019, and full-year production guidance for 2020. The company saw its copper output decrease in the fourth quarter against the corresponding period in 2018, amid protests in Chile, a strike at the Antucoya unit, and lower copper content in ores. Activities at mines were normalized and were now in line w...Read More
Uranium companies have been awaiting a price recovery following the tragic Fukushima Daiichi nuclear reactor disaster in March 2011. Since early 2016 the spot uranium price has remained below US$30 per lb. of uranium oxide (U3O8). Many uranium producers have curtailed and shuttered operations, maintaining assets while awaiting a more profitable future. Some juniors have successfully developed impr...Read More
AUSTRALIA - Boss Resources says that a restart and expansion of its Honeymoon uranium project in south Australia is feasible.Following a feasibility study (FS) and based on a conservative uranium price, Boss believes that Honeymoon is positioned as one of the world's most advanced uranium development projects that can be fast-tracked to re-start production in 12 months with low capital intensity.I...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.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
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.Over 650 GW of new onshore and 130 GW of new offshore wind capacity will be installed between 2018 and 2028. This will consume in excess of 5.5Mt of copper, according to a recent analysis by Wood Mackenzie.Henry Salisbury, Wood Macken...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.The U.S has increased tariffs on $200bn of Chinese goods to 25%, from 10%, impacting a number of metals. Commentary below comes from the Wood Mackenzie metals team:Copper By Wood Mackenzie Senior Consultant, Yanting Zhou"Previous...Read More
The lead arbitrage window has shut after briefly opening in the week to January, while the LME three-month zinc spread remains backwardated, keeping spot trading minimal and premiums unchanged, except for in Italy, Fastmarkets was told.Lead arbitrage window shut this week after last week, making imports to Asia less profitable to weigh on Indian spot premiumThe London Metal Exchange on-warrant lea...Read More
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From coronavirus to spread plays, the copper market is seeing recent London Metal Exchange stock deliveries as driven by anything other than supply and demand. LME physical stock reporting shows that 74,475 tonnes of copper cathodes were delivered into exchange warehouses globally since Monday January 20. Inflow of 40,125 tonne in Rotterdam on Tuesday was the largest single inflow to the city's sh...Read More
Nickel premiums in the United States were little changed to slightly weaker in the week ended Tuesday January 21, while the uncut cathode premium in Europe rose amid increased activity over the period.US cut cathode premium creeps lower.European uncut cathode premium benefits from increased activity.Chinese premiums unchanged in quiet conditions.US cut cathode premium edges lowerSpot nickel premiu...Read More
RAPAPORT... Millennial consumers are independent, vocal, tech-savvy and used to getting what they want. They have disposable income and aren't afraid to spend it on things they believe add value to their lives, no matter the price tag. But successfully enticing this market into your store is not as easy as it was with their moms and dads, and retaining them can be even more difficult. That's...Read More
RAPAPORT... BlueRock Diamonds reported the first annual profit in its history, as sales grew amid increased production and a higher average price, the miner said Tuesday.The improvement was the result of a new initiative the miner implemented at its Kareevlei deposit in South Africa to stabilize production and offset the impact of the rainy season, during which operations are difficult.Revenu...Read More
Galvalume prices in the United States strengthened further in January, with the market betting that better weather conditions in the first quarter could keep demand strong.Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US rose to $38 per hundredweight ($760 per short ton) on Tuesday January 21, up 4.1% from $36.50 per cwt in mid-December and up 10.1% from $34.50 per cwt i...Read More
Hot-rolled coil prices in the United States have continued to hover around the $30-per-hundredweight ($600-per-short-ton) mark this week, while sources have said the market direction remains unclear.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.03 per cwt ($600.60 per ton) on Wednesday January 22, up by 1.1% from $29.69 per cwt on January 21 but down by 2.8...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.Oil demand growth has been weak in 2019, with the OPEC+ group surprisingly extending their cuts by a further 500 kbd through to end of Q1 in 2020. In spite of that, fears of sustained weak demand growth have restricted Brent to mid US...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.India's renewables target of 175 GW capacity (100 GW of solar and 75 GW of wind) by 2022 is an ambitious endeavour. Even with significant cost declines, Wood Mackenzie expects about 76% of the target to be met by 2022 and this would s...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.Join us for an exclusive Forum, co-chaired by SVP and Global Head of Metals and Mining, Linda Cardillo Doku and SVP and Vice Chairman of Metals and Mining, Julian Kettle – this event brings together Wood Mackenzie’s top su...Read More
(Press Release) - DelGatto Diamond Finance ("DelGatto" or "Company"), an institutional diamond finance company, today announced it has partnered with Koin International ("Koin"), a leading specialized polished and rough diamond company, to provide immediate financing for clients at Koin's international tenders.DelGatto Diamond Finance is a leading collateral-based alternative finance provider...Read More
RAPAPORT... Bonhams has hired Eleonora D'Ottavi in its latest effort to build up its global jewelry business.D'Ottavi will join the auction house as head of jewelry for Italy, responsible for providing valuation services and sourcing gems that Bonhams will sell at its New York, London and Hong Kong auctions."Eleonora brings the ideal combination of international experience and proven com...Read More