(IDEX Online) - Alrosa's long-term clients bought 102 of more than 800 large rough diamonds offered in the company's biggest ever digital tender.The remaining stones will now be made available to other customers to select from 5-10 carats batches.For the first time, the Russian state-owned miner sold diamonds online from boxes, piece by piece, in response to COVID-19 restrictions.It prov...Read More
(IDEX Online) - Workers in Minneapolis fled in terror when looters threw a rock through their jewelry store window. A dozen staff were stashing valuables in a safe at R.F. Moeller Jewelers, in St. Paul, when company president Bob Moeller received a text warning from police that a mob was approaching. They escaped through a back door as looters smashed their way in with sledgehammers. The company&#...Read More
The closure of the arbitrage window between London and Shanghai prompted a drop in Chinese zinc premiums in the week to Tuesday June 2, while broad stagnancy in European and US demand kept premiums firm, although some market participants anticipate that demand could further weaken in the coming months. Cif Shanghai premium dipped as demand diminished in line with arbitrage window's close Sout...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 3.Please click...Read More
Base metals price on the London Metal Exchange had moved sideways at the close of trading on Wednesday June 3, with most of the complex maintaining gains made earlier in the week against a steady improvement in risk-appetite.Copper's outright price on the LME closed at $5,524 per tonne on Wednesday afternoon, while turnover was moderate at just over 15,000 lots exchanged by the close. Similarly, L...Read More
Fastmarkets is launching a two-month consultation on the launch of new copper material price and the potential discontinuation of its monthly assessment of the No2 copper scrap discount on a cif China basis.Under a new categorization policy being introduced in China, most No2 scrap could be traded as renewable copper materials starting from July 2020. Background to the consultationA...Read More
Global nickel premiums were mostly static in the week to Tuesday June 2, with the exception of the delivered Midwest premium in the United States, where oversupply and weak demand saw the range soften, while a strong London Metal Exchange three-month nickel price kept consumption limited.Cheaper global supply caps US domestic briquette interestThin liquidity limits European marketArb losses hamper...Read More
An earthquake with a magnitude of 6.8 has hit the Antofagasta region of Northern Chile, which is home to a cluster of major copper mines, Fastmarkets understands.The US Geological Survey said the earthquake occurred in the early morning local time on Wednesday June 3, with the epicentre of the quake reportedly in the southwest of San Pedro de Atacama. Major copper mines close to the epicentre incl...Read More
Prices for hot-rolled coil in the United States have remained largely unchanged, but pressure from higher raw materials costs may lead to a third price increase by domestic sheet mills, sources said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $25.32 per hundredweight ($506.40 per short ton) on Wednesday June 3, up by 0.9% from $25.10 per cwt on Tuesday J...Read More
Iranian export billet prices narrowed upward in the week to Wednesday June 3 with more mills managing to achieve higher sales prices.Last week, Khouzestan Steel, the country's major billet exporter, sold several cargoes scheduled for delivery in July at $364 per tonne fob Iranian ports.Some market participants said that such a level would be accepted only for position cargoes, estimating the worka...Read More
Domestic prices for heavy steel plate moved down again in Southern Europe over the week due to poor demand, sources told Fastmarkets on Wednesday June 3.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?415-425 ($463- 474) per tonne on June 3, down by ?,?10 per tonne week on week from ?,?425-435 per tonne. The assessment was down by ?,?30-35 per ton...Read More
No offers have been submitted to acquire struggling Polish plate producer Huta Czestochowa, the spokesman of the district court of the city of Czestochowa told Fastmarkets. Huta Czestochowa was been recommended for sale by tender in March 2020. The starting price was set at 250 million Polish zloty ($63 million) and bids to acquire Huta Czestochowa could be submitted until May 29, the source...Read More
Prices for mesh-quality steel wire rod in Europe declined over the past seven days on pressure from buyers, sources told Fastmarkets on Wednesday June 3.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?420-440 ($470-493) per tonne on Wednesday, narrowing down by ?,?10 per tonne over a week.ItalyThe Italian market have today af...Read More
While metals prices were mixed this morning, Wednesday June 3, broader markets were looking more upbeat and the underlying trends in the metals are also upward. China’s Association of Automobile Manufacturers (CAAM) estimated vehicle sales growth of 11.7% year on year in May, which follows a 4.4% rise in April. Given how metal intensive cars are and the fact that China’s vehicle market h...Read More
NEW TOOLS IN ITS LATEST MICROMINE UPGRADESPONSOREDmicromineCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThis reactivation will encompass at least 80% of Peru's mining production capacity, according to the SNMPE.Peru's mining secto...Read More
U.S. equity index futures were higher this morning. S&P 500 futures advanced 18 points in pre-opening trade. Index futures were virtually unchanged following release of the May ADP Employment report at 8:15 AM EDT. Consensus was job loss of 9.0 million versus job loss of 20.236 million in April. Actual was job loss of 2.760 millionThe Canadian Dollar was virtually unchanged at US73.78 cents pr...Read More
The stainless steel scrap market in the United States has slowed its pace, and prices have started flattening out with June demand uncertain and continuing worrisome supply conditions."It will take a strong restart in manufacturing to change the supply side of the equation," one dealer said, adding that it is very "unusual to see a gradual uptick in prices as we head into the summer season, b...Read More
Both coasts of the United States have enjoyed a flurry of renewed activity in the ferrous scrap export market, with global demand becoming the bright spot of business in the US.On the West Coast, one exporter sold a 30,000-tonne cargo to India on Tuesday June 2 at an average price of $280 per tonne as low international shipping rates have opened up many areas that are not typically acces...Read More
Turkish steel producers have continued to book more deep-sea scrap cargoes at steady prices, sources told Fastmarkets on Wednesday June 3.A steel mill in the Izmir region booked a US cargo, comprising shredded scrap at $259.50 per tonne and plate & structural scrap (P&S) at $264.50 per tonne cfr late on Tuesday June 2. The cargo's composition and volumes were not clear at the time of publicat...Read More
Seaborne premium hard coking coal prices dropped on Wednesday June 3 after a transaction was completed at $107.33 per tonne cfr China on Tuesday. Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.46 per tonne, down $2.51 per tonne Premium hard coking coal, cfr Jingtang: $114.95 per tonne, down $1.93 per tonneHard coking coal, fob DBCT: $87.66 per tonne, down $1.91 per tonn...Read More