Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.Sentiment in the seaborne iron ore and Asian steel markets has deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on...Read More
Stainless steel scrap prices in the United States have weakened after the London Metal Exchange cash nickel price fell below the $6-per-lb mark."Speculation that China's economic growth will suffer significantly because of the virus outbreak has taken a toll on base metal prices, and nickel has not been immune [to the fall]," one major dealer source said, adding that "prices have reverse...Read More
I??igo P?(C)rez, vice president of Europe and Asia sales at Alcoa, will be leaving the aluminium producer after working there for 18 years, Fastmarkets understands. P?(C)rez, who handled aluminium product sales at Alcoa, will...Read More
Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on month at the end of December 2019, according to data released by major Japanese trading house Marubeni Corp.Aluminium stock levels at warehouses in Nagoya were at 139,000 tonnes at the end of December 2019, down from 151,200 tonnes the previous month. Total aluminium stocks at the three main Japanese ports (MJP) o...Read More
The Rotterdam uncut nickel cathode and US nickel briquette premiums rose in the week to Tuesday January 28 on firmer demand for the former and weaker supply of the latter, while premiums in China held firm with participants out of the market for the extended Lunar New Year break.The in-warehouse Rotterdam cut cathode premium rose at the top end of the range, with firmer demand enlivening spot sale...Read More
Hot-rolled coil prices in the United States again dropped below $30 per hundredweight ($600 per short ton) on fears that a negative ferrous scrap outlook for February could put the flat-rolled steel market under more pressure.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.98 per cwt ($599.60 per ton) on Wednesday January 29, down by 0.8% from...Read More
An image from the McKinsey & Co. report Climate Risk & Decarbonization depicting areas projected to be under water stress in 2040. Credit: McKinsey & Co.A new report by global consultancy McKinsey & Co. looks at three key questions the mining sector needs to address in light of climate change. Entitled Climate risk and decarbonization: What every mining CEO needs to know, the report details the po...Read More
While the price of uranium suffered a steep decline after the 2011 Fukushima Daiichi nuclear accident, growing pressures to decarbonize power generation provide support for the commodity, which is currently priced at cyclical lows. Below, we provide an overview of eight companies active in uranium exploration and development. Appia EnergyAppia Energy is involved with rare earth and uranium explo...Read More
Prices were stable and trading activity was quiet this week in the European domestic rebar markets, with participants waiting to see how prices would develop in February, sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?490-500 ($540-551) per tonne on Wednesday, unchanged week on wee...Read More
Hollow steel sections prices in Europe were unchanged this week, despite increasing feedstock costs and quickly expiring import quotas, market sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-640 ($683-705) per tonne on Wednesday, unchanged week on week.Earlier in the month, mills and...Read More
The prices of steel H-beams in Europe were unchanged on Wednesday January 29 with mills working toward further price increases in February, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-580 ($606-639) per tonne on January 29, unchanged week on week.In recent weeks, producers have achieved higher H-beam prices to...Read More
Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More
RAPAPORT... De Grisogono has filed for bankruptcy shortly after it was caught up in an alleged money-laundering scandal involving Isabel dos Santos, the daughter of Angola's former president, and her husband.Last week, media reports stated dos Santos's husband, Sindika Dokolo, bought a stake in the Swiss luxury jeweler together with Angolan national diamond-trading company Sodiam through a Ma...Read More
RAPAPORT... Sales of jewelry and watches at LVMH increased 7% in 2019 amid a strong year for Bulgari.Revenue from the categories rose to EUR 4.41 billion ($4.85 billion), driven by Bulgari's Fiorever collection, which contributed significantly to growth following its launch at the end of 2018, LVMH said Tuesday. The brand's Serpenti Seduttori watch line was well received, while Chaumet and Hu...Read More
RAPAPORT... Graff-owned diamond manufacturer Safdico will cut and polish a portion of rough from the Lulo mine through a partnership with Lucapa Diamond Company.Safdico will have the rights to buy up to 60% of Lulo's annual rough production under the terms of Angola's new reform program, which went into effect last year. The new guidelines open sales to a wider range of buyers of the miner's...Read More
RAPAPORT... De Beers' January rough-diamond sales reached their highest level since last April as post-holiday stock replenishment boosted demand.Proceeds of $545 million at the first sales cycle of 2020 were 9% higher than a year ago, the miner said in a statement Wednesday. Sales also rose 28% from the $426 million the company garnered in December."Demand for rough diamonds increased during...Read More
RAPAPORT... Crystal brand Swarovski introduced 16 new synthetic-diamond colors at Paris Haute Couture Fashion Week.The new hues fall into four creative categories in which Swarovski claims to play a role, it said last week. Each of the four areas - fashion, art, music and architecture - includes four colors of cushion-cut lab-grown diamonds. Every category in the collection is led by a "hero"...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.All eyes will be on the Indonesian nickel market in 2020.The knives may be out for the country’s nascent stainless industry but the staggering potential for expansion in NPI may reduce the impact of the nickel ore export ban to...Read More
Diamond miner De Beers' rough diamond sales increased to $545-million for the first sales cycle of this year.This was higher than the $426-million in sales recorded for the tenth sales cycle of 2019, as well as the $500-million in sales recorded for the first sales cycle of 2019.Advertisement“Demand for rough diamonds increased during the first sight of 2020 following the end-of-year sel...Read More
(IDEX Online) - De Beers Group Industry Services is collaborating with RDI Diamonds Inc., in NY to provide the diamond wholesaler's grading reports for its Rare and Forever diamonds. De Beers Group Industry Services will also offer educational activities and sales training to RDI. "We were humbled to be approached by the De Beers Group Industry Services for such an important opportunity:...Read More