The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are relatively stable this month, showing little change since our previous tracker. Such stability masks growing issues for stainless steelmakers, however, who are increasingly unable to pass on rising costs to consumers and are, thus, facing cuts to their margins.In general, this is due to an excess of...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are on the increase in June. As far as this market is concerned, it appears as though the Covid-19 pandemic has had little impact so far, with prices on the most common grades of stainless steel just 2-4% lower than they were at the turn of the year in most markets.Even in Asia, a region often talked ab...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

Diamond trade uncertain amid spike in coronavirus infections and new restrictions in India and Israel. Prices firm for select goods as 1 ct. RAPI +1.9% in June. Investment demand for 0.50 to 1 ct., D, IF and bridal supporting the market. Rough trading significantly reduced as Surat factories close again for lockdown. Miners under pressure. Smaller producers willing to drop prices to generate sales...Read More

RAPAPORT... Sales at Pandora improved towards the end of the second quarter as the majority of its stores reopened and consumer traffic increased following the coronavirus lockdown."The better-than-expected financial performance is a result of faster reopening of markets, slightly quicker traffic recovery to reopened stores, and continued strong online performance," the company said Wednesday...Read More

RAPAPORT... Alrosa has pushed its July contract sale to the end of the month in response to requests from clients who had expressed interest in making purchases, the Russian miner said Thursday.The trading session, previously scheduled for July 12 to 17, will now run from July 27 to 31, Alrosa announced. The company has also delayed the August sale, previously set for August 10 to 14, and wil...Read More

RAPAPORT... Israel's diamond industry is on the verge of collapse as the coronavirus has wiped out sales and forced business to stop, the president of the Israel Diamond Exchange said Wednesday in a letter to the government.The pandemic will cost the industry more than NIS 2 billion ($580 million) and lead to companies shutting for more than six months, Yoram Dvash estimated in a plea to Isra...Read More

The global nickel market continues to suffer a disconnect between on-exchange activity and market fundamentals, with the appetite for physical material distinctly lackluster, while speculative sights are set firmly on the electric vehicle (EV) battery revolution. Shanghai Futures Exchange nickel prices continue to be volatile despite stagnating stainless steel and EV demand for nickel because of t...Read More

(IDEX Online) - Alrosa is postponing its next two trading sessions in response to a continuing slump in demand.The Russian state-owned miner sold just $40m of diamonds in May.It has reportedly lost at least five of its long-term buyers, as it maintains its price over volume strategy and forces customers to buy goods deferred from earlier sales.Alrosa is putting back its sale scheduled for July 12-...Read More

(IDEX Online) - Diamond markets in Surat, India, are due to re-open tomorrow, but have been warned that they'll be closed again if more than 10 people test positive for coronavirus.Factories in the city will be allowed to open for business again on Tuesday after a spike in COVID-19 cases centred on diamond units in the Katargam area. Surat currently has 1,659 active COVID-19 cases and has had...Read More

(IDEX Online) - Police in Angola seized almost 4,500 diamonds and detained a French national as part of its Operation Transparency.It followed a number of tip-offs regarding the alleged clandestine sale and purchase of diamonds at the suspect's home in Lucapa, in the eastern Lunda Norte province, according to the country's official news agency Angola Press. .The country has made rep...Read More

RAPAPORT... Christie's brought in $5.2 million from its Fine Jewels sale in Paris, with several pieces smashing their presale estimates.A ring by designer Verdura, featuring a rectangular cut-cornered, 5.57-carat Kashmir sapphire and rectangular cut-cornered, H-color, VVS1-clarity diamond weighing 5.53 carats, fetched EUR 274,000 ($310,418), the highest price for a jewelry item. Christie's so...Read More

RAPAPORT... Revenue at Titan Company dropped sharply in the past two months during India's coronavirus lockdown, but the jewelry retailer noted encouraging signs as restrictions eased.Jewelry sales fell more than 80% year on year in May and around 30% in June as shutdowns continued to affect the retail market, the company reported Tuesday. Most stores have now reopened, Titan added, without s...Read More

The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday July 9, continuing to test levels last seen in January despite a volatile forward curve, while nickel lost ground into the afternoon despite high turnover across the base-metals complex.Copper's outright price on the LME closed at $6,300 per tonne on Thursday afternoon, improving from an intrad...Read More

Trading house Traxys has agreed to a partnership with Alu Iberica, which consists of the La Coru??a and Aviles aluminium smelters in Spain, sources with knowledge of the matter have told Fastmarkets.The partnership, first reported by local Spanish media, will involve Traxys marketing the two smelters' products internationally, as well as advising on the two plants' operations.The two smelters prod...Read More

New Century has achieved commercial production by processing tailings left by the Century mine, once the world's largest zinc mine located in northwest Queensland of Australia. The Australia-based company produced 34,500 tonnes of zinc metal in the second quarter of this year, up 22% year on year, it said on Monday July 6. "From a market perspective, despite the zinc price remaining near four-year...Read More

The three-month copper price on the London Metal Exchange was higher during morning trading on Thursday July 9, with price action pushing firmly above nearby resistance levels, while a sizeable fresh cancellation in LME zinc stocks saw the metal's underlying price also rally. Copper's outright price on the LME was recently trading at $6,352 per tonne, climbing from a morning low of $6,246 per tonn...Read More

UK Trading house Sucden Financial has appointed ex-Soci?(C)t?(C) G?(C)n?(C)rale metals trading head Alan Burr to its London Metal Exchange metals and options desk in Hong Kong, the company said on Thursday July 9. Burr's appointment will enhance the company's Hong Kong operations, where he will focus on market-making and adding liquidity in the region, it said. His primary focus will be LME metal...Read More

The European construction industry has reported different levels of operational strength across various countries, with some projects reported as cancelled or postponed, putting pressure on demand for long steel products, sources have told Fastmarkets.For long steel products such as beams, hollow sections, rebar and wire rod, construction is a key sector for demand. With the Covid-19 pandemic and...Read More