The three-month nickel price on the London Metal Exchange was the biggest gainer at the close of trading on Thursday December 5, staging a modest recovery after reaching a five-month low earlier in the day, while turnover topped the complex over the day. The LME nickel price closed at $13,275 per tonne at 5pm, recovering from an intraday low of $13,030 per tonne but failing to close near its daily...Read More
Seaborne coking coal prices remained stable on Thursday December 5, with transaction prices seeing only mild movements in recent days.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.79 per tonne, down $0.01 per tonnePremium hard coking coal, cfr Jingtang: $147.22 per tonne, up $0.13 per tonne Hard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr J...Read More
The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday December 5, with the metal failing to hold on to recent gains while volumes traded topped the complex. Zinc's outright price fell to an intra-morning low of $2,217.50 per tonne, a loss of 1.3% against Wednesday's closing price of $2,246 per tonne. At just under 2,500 lots exchanged as at 9.10am Lon...Read More
The three-month nickel price on the London Metal Exchange was the biggest gainer at the close of trading on Thursday December 5, staging a modest recovery after reaching a five-month low earlier in the day, while turnover topped the complex over the day. The LME nickel price closed at $13,275 per tonne at 5pm, recovering from an intraday low of $13,030 per tonne but failing to close near its daily...Read More
With competition in the global steel markets still fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in November 2019.1. US: stainless pressure pipe from China, Malaysia, Thailand and VietnamRead More
Here are five Fastmarkets MB stories you might have missed on Thursday December 5 that are worth another look.Chinese stainless steel prices in both the domestic and export markets fell over the past week amid bearish sentiment stemming from the high inventories held at a major mill in eastern China.More of the world's copper looks likely to be priced in China from next year, with the Shanghai Int...Read More
A summary of Glencore's production guidance for copper, zinc and nickel over 2019-2022, as well as its production changes in major projects.In brief 2020 copper production guidance is modestly lower than that for 2019 due to transition to care and maintenance of the Mutanda copper-cobalt mine in the Democratic Republic of Congo (DRC) in late November 2019.Copper refining and c...Read More
The first deal for first-quarter aluminium ingot supply to Japan in 2020 has been concluded at a premium of $83 per tonne basis cif main Japanese ports (MJP), market sources told Fastmarkets on Thursday December 5. This deal marks the lowest quarterly deal since the fourth quarter of 2016, when the benchmark settled at $75 per tonne, and it is 14.4% lower than the 2019 fourth-quarter benchmark of...Read More
The UK's Serious Fraud Office (SFO) is investigating miner-trader Glencore, it said on Thursday December 5. "The SFO confirms it is investigating suspicions of bribery in the conduct of...Read More
Europe's largest copper producer, Aurubis, will continue deliveries to customers after a crane collapsed at its Olen plant in Belgium, the company said on Wednesday December 4. The accident occurred on Tuesday November 19, when a transport crane collapsed in the electrolysis section of its copper tankhouse. The company said the electrolysis tanks were not affected by the collapse. "Aurubis was abl...Read More
More of the world's copper looks likely to be priced in China from next year, with the Shanghai International Energy Exchange (INE) set to launch a new contract tradable by international market participants.The decision to launch, pending regulatory approval, would enable market participants based outside China to trade copper based on a Chinese price, sources told FastmarketsChina, which is the w...Read More
The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday December 5, with the metal failing to hold on to recent gains while volumes traded topped the complex. Zinc's outright price fell to an intra-morning low of $2,217.50 per tonne, a loss of 1.3% against Wednesday's closing price of $2,246 per tonne. At just under 2,500 lots exchanged as at 9.10am Lon...Read More
Brazilian steel institute A??o Brasil is ready to go before the United States Court of International Trade (CIT) if US President Donald Trump proceeds with the reinstatement of tariffs against the nation under Section 232, executive president Marco Polo de Mello Lopes said on Thursday December 5.As of now, however, there is no clear indication on whether the current quota system will be abandoned,...Read More
Jewelers and memo dealers gaining confidence afterpositive start to holiday season. E-commerce driving growth, with record $9.4Bpurchases on Cyber Monday, according to Adobe Analytics. NRF counts 189.6Mshoppers and average spend +16% to $362 over Thanksgiving weekend. Tiffany& Co. 3Q sales flat at $1B, Signet Jewelers sales flat at $1.2B. Shortagesand holiday demand supporting diamond prices,...Read More
Buyers actively lookingfor goods amid scarcity of better-quality RapSpec A3+ diamonds that are indemand. Very little new supply available since manufacturers decreasedproduction over last five months. Rough orders expected to improve at nextweek's sight as cutters prepare for post-holiday restocking among jewelers.Steady sales of I1-I3 stars and melee. Interest in certified stones centeringon good...Read More
RAPAPORT... Sales at Tiffany & Co. were flat at $1.01 billion in thethird fiscal quarter as increases in mainland China compensated for weakspending in the US and Hong Kong. Revenue declined 4% to $422.5 million in the Americas region assales to tourists fell, while local customers also trimmed their spending, thejeweler said Thursday. Asia-Pacific sales were unchanged at $294.1 million amid"d...Read More
RAPAPORT... Signet Jewelers' shares jumped 6% in early trading Thursdayafter the retailer increased its sales forecast for the current fiscal year. The jeweler adjusted its guidance following a rise insame-store sales in the third fiscal quarter, it said Thursday. While groupsales slipped 0.3% to $1.19 billion in the three months ending November 2,same-store sales - at branches open for at le...Read More
RAPAPORT... Rough-diamond buyers are anticipating an improvement insales at next week's De Beers sight, as the miner is withdrawing concessions that allowed clients to reject goods. De Beers will revert to its standard rules limiting sightholders' abilityto refuse or defer their supply allocations, sources in the rough market told Rapaport News.They will also only be able to sell 10% of their purc...Read More
(IDEX Online) - Unrest in Hong Kong hit jewelry chain Tiffany & Co. hard in its third quarter. The company reported that worldwide net sales of $1 billion and comparable sales were unchanged from the prior year. Excluding Hong Kong, worldwide net sales and comparable sales increased by 4 percent and 3 percent, respectively.Worldwide net sales for the third quarter were unchanged from the prior...Read More
Turkish billet prices rose over the past week on the back of rising imported scrap costs, sources said on Thursday December 5. Mills in the country have tried to reflect the increase of imported scrap feedstock prices in their billet offers. Local producers raised their billet offers for local market to $405-410 per tonne ex-works, from the last week's $400-405 per tonne. Long steel producer Karde...Read More