Here are five Fastmarkets MB stories you might have missed on Wednesday December 11 that are worth another look.Japan's Kanto Tetsugen has secured a higher price at its ferrous scrap auction for December, which is likely to boost sentiment in the Asian market for the steelmaking raw material.The emergence of a contango in London Metal Exchange aluminium spreads for early next year helped...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 11.Please click...Read More

Nickel gained more than 3% on the London Metal Exchange on Wednesday December 11, closing at a two-week high.The three-month nickel price ended official trading at $13,850 per tonne, up by more than $400 per tonne from Tuesday's closing price of $13,405 per tonne. Volumes were higher - turnover exceeded 10,000 lots for the first time since October. The metal has shrugged off inflows of more than 2...Read More

A closed arbitrage window between the Shanghai and London exchanges forced nickel premiums in China lower, while a push for market participants to clear stock by year-end in the United States moved premiums lower there as well. Closed arbitrage between the Shanghai Futures Exchange and the London Metal Exchange moved premiums in Shanghai lower.An emphasis on year-end destocking in the US pushed do...Read More

Chinese copper producer Jiangxi Copper will become the largest shareholder of Canada-listed First Quantum Minerals (FQM) after its $1.12-billion purchase of PIM Cupric Holdings (PCH), which holds around 18.015% of FQM's issued shares. "The transaction is in line with the company's international strategy," Jiangxi Copper said in a filing to the Shanghai Stock Exchange on Tuesday November 10. Jiangx...Read More

The sharp fall in London Metal Exchange three-month lead price has put upward pressure on the US lead premium. Stock liquidation and weak buying saw the Italian delivered zinc premium decline, while the Shanghai zinc market held firm. US zinc premium flat amid "deathly quiet" in spot demand ILZSG data shows an overall deficit of 83,000 tonnes for lead in the first nine months of 2019 Weak buying a...Read More

The Shanghai copper cathode premiums extended recent declines in the week ended Tuesday December 10 amid bearish sentiment ahead of year-end and Lunar New Year in January, while US and European markets were little changed. Shanghai cif premium hits fresh four-month low. US and European premiums unchanged amid thin trading. Year-end destocking, closed arb continue to weigh in Shanghai Bearish senti...Read More

A summary of Trafigura Group's financial results for the 2019 financial year ended September 30, 2019. In brief:  Earnings before interest, taxes, depreciation and amortization (Ebitda) increased 24% year on year to $2.129 billion for 2019.  In 2019, the Trafigura Group registered gross profit of $2.978 billion, a 25% increase on 2018  Net profit was steady in the 2019 financial yea...Read More

Domestic prices for hot-rolled coil have moved up in the south of Europe this week, supported by reduced output from the region's mills and higher import offers, sources told Fastmarkets on Wednesday December 11.In the meantime, domestic HRC prices in the north of the EU stood largely unchanged day on day, although sentiment remains largely positive due to reduced production and a lack o...Read More

The price of steel rebar in the Southern European domestic market was little changed this week, but market participants believe increases are likely because of higher scrap costs, sources told Fastmarkets on Wednesday December 11. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?455-480 ($504-532) per tonne on Wednesday, down by ?,...Read More

RAPAPORT... De Beers has reduced its production outlook for next year and beyond amid uncertainty about the health of the diamondmarket.The miner now expects to recover between 32 million and 34million carats in 2020, compared to its earlier outlook of 33 million to 35million carats, parent company Anglo American said Tuesday. Its output is forecastto rise to between 34 million and 36 million cara...Read More

RAPAPORT... A blue diamond ring by Tiffany & Co. was the top sellerat Phillips' New York sale, leading the $5.4 million auction. The cut-cornered square modified brilliant-cut, 3.02-carat,fancy-intense-blue, VS2-clarity diamond ring fetched $1.6 million, against apresale estimate of $1.5 million to $2.5 million at Monday's New York Jewels sale. A fancy-color diamond and gold necklace feat...Read More

RAPAPORT... Alrosa's sales rose 5% year on year to $287.8 million inNovember, as the manufacturing sector began to rebound, the Russianminer said Tuesday. The monthly sales are the highest the company has reportedsince April, and the fourth highest of the year.  "November sales growth [is] evidence that [the] midstreamsector, specifically in India, is on track to restore its balance," sa...Read More

(IDEX Online) - Production at Petra Diamonds' South African mines has been hit by ongoing rolling power cuts across the country. Following a request by Eskom, the South African electricity utility, Petra halted produced, hoisting and processing at the Cullinan, Finsch and Koffiefontein mines on December 9. On December 10, Eskom downgraded the situation from the unprecedented Stage 6...Read More

(IDEX Online) - Anglo America, parent company of De Beers Group, has cut its diamond production forecast for 2020 to 32-34 million carats. Previously, output for full year 2020 was anticipated to be 33-35 million carats.The company announced the reduction during an investor update call.De Beers' production forecast for 2021 has also been reduced to an estimated 24-36 million carats, down from...Read More

Diamond miner De Beers has launched its Forevermark jewellery brand in Belgium, through a partnership with jeweller Gautam Diamonds.Forevermark jewellery is now available in Gautam stores in the historic Grand Place/Grote Markt and Galerie de la Reine/Koninginnegalerij, as well as in three Antwerp Diamonds by Gautam stores in Brussels Airport.AdvertisementThe launch brings the total number of coun...Read More

(IDEX Online) - The industry has been rocked by the news of two violent crimes against jewelers in Florida and California. In the first incident, which took place in Costa Mesa, California on December 4, 65-year-old Pierre Maalouf  left his store, the Diamond and Jewelry Exchange, around 6:30 p.m., and was walking to his car with some merchandise and jewelry. He was approached and a...Read More

(IDEX Online) - Forevermark, the diamond brand from the De Beers Group, is now available in Belgium thanks to a tie-up with Gautam Diamonds. The new partnership means the branded jewelry will be available to purchase from the historic Grand Place/Grote Markt and Galerie de la Reine/Koninginnegalerij stores in the city and in three Antwerp Diamonds by Gautam shops in Brussels Airport.With the...Read More

JSE-listed Harmony Gold has resumed shifts at its nine South African underground gold mines from Tuesday afternoon, after power utility Eskom had returned to lower stages of load-shedding.  London-listed Petra Diamonds also resumed its South African mining operations on Tuesday, albeit at a 20% load curtailment.AdvertisementThe power utility on Monday implemented Stage 6 load-shedding for the...Read More

LONDON – The glut that’s depressing the diamond market will last another year, according to industry consultant Bain & Co.The inventory backlog will probably be cleared in the beginning of 2020, but it will take some time for the market to fully recover, Bain said in a report released on Wednesday. Bank financing to the industry’s midstream – the traders that buy rough...Read More