The three-month nickel price on the London Metal Exchange was higher at the close of trading on Thursday December 12, breaching nearby resistance despite its largest single inflow since 2016. Nickel's outright price on the LME closed at $14,100 per tonne this afternoon, a climb of 1.5% from Wednesday's closing price of $13,850 per tonne. Turnover in nickel was high over the day, with just over 9,4...Read More
The seaborne coking coal market saw a day of ample spot activity on Thursday December 12, with cargoes trading on both a cfr China and an fob Australia basis.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.58 per tonne, up $0.59 per tonnePremium hard coking coal, cfr Jingtang: $147.96 per tonne, down $0.60 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchanged...Read More
The three-month nickel price on the London Metal Exchange consolidated during morning trading on Wednesday December 12, with another fresh inflow of 25,518 tonnes into several locations elevating a weak LME nickel stock count. Nickel's outright price on the LME was recently at $13,775 per tonne, a drop of just 0.4% from Wednesday's closing price of $13,850 per tonne. Turnover in nickel was high o...Read More
Benchmark alumina prices for spot cargoes stabilized around $280 per tonne on Thursday December 12 while participants focus on business for 2020.Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $279.46 per tonne on Thursday, little changed from $279.40 per tonne on the previous day. The index was above $280 per tonne on December 9 for the first time since November 14. Ke...Read More
Turkish steel producers have resumed their deep-sea scrap purchases after a short break for negotiations, sources said on Thursday December 12.A steel mill in the Marmara region booked a 40,000-tonne US cargo, comprising HMS 1&2 (80:20) at $297 per tonne, shredded at $302 per tonne and bonus at $307 per tonne cfr.A steel producer in the Iskenderun region booked a 30,000-tonne Baltic Sea cargo of H...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday December 12 that are worth another look.Middle Eastern steel producers need to diversify their product lines to survive weakening demand in the region, according to Saeed Ghumran Al-Remeithi, the chief executive officer of the United Arab Emirates' biggest steelmaker, Emirates Steel.China's domestic stainless steel prices dropp...Read More
Key data from the price assessment on Thursday December 12 in Shanghai.Fastmarkets assessed the price of alumina metallurgical grade, ddp China at 2,330-2,450 yuan ($331-348) per tonne on December 12, down 1% from the previous week's 2,350-2,480 yuan per tonne.Key drivers: Cargoes continued to be imported to China in significant numbers after the import arbitrage window opened late in Se...Read More
The three-month nickel price on the London Metal Exchange consolidated during morning trading on Wednesday December 12, with another fresh inflow of 25,518 tonnes into several locations elevating a weak LME nickel stock count. Nickel's outright price on the LME was recently at $13,775 per tonne, a drop of just 0.4% from Wednesday's closing price of $13,850 per tonne. Turnover in nickel was high o...Read More
Base metals on the Shanghai Futures Exchange were broadly higher at the close of the morning session on Thursday December 12, with optimism over a recovery in Chinese demand and a weak US currency providing support to the complex. "The mood in the base metals sector remains positive, with optimism over a recovery in Chinese demand helped by signs of progress from the US-China trade talks," ANZ Res...Read More
NexGen Energy's Arrow uranium deposit, at the Rook 1 property in Saskatchewan's Athabasca basin. Credit: NexGen EnergyVANCOUVER - With the release of the latest batch of assays from its Arrow uranium deposit at the Rook 1 property in Saskatchewan, NexGen Energy is getting closer to completing a feasibility study slated for the first half of next year.The latest assays, part of a 131-hole winter dr...Read More
Fastmarkets is proposing to change the publication date of its Brazilian domestic steel price assessments, ex-works Brazil, reais per tonne.The proposal would shift publication of Brazilian domestic flat steel and rebar price assessments from the first Friday of each month to the second Friday of each month, allowing Fastmarkets to capture price changes more quickly and accurately.After receiving...Read More
Steel billet prices in Turkey increased over the past week in response to the rising cost of imported scrap, sources told Fastmarkets on Thursday December 12.Suppliers of material from the Commonwealth of Independent States (CIS) raised their offers for Turkey to $420-425 per tonne cfr this week, up from $410-415 per tonne last week. However, buyers in Turkey prefer domestic billet...Read More
Turkish long steel export prices continued to increase over the past week in response to rising imported scrap values, sources told Fastmarkets on Thursday December 12. However, demand remains limited in the country's major export destinations, they added.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey was $435-440 per tonne on Thu...Read More
Polished trading driven by last-minute US holiday ordersand preparations for Chinese New Year. Multi-channel marketing andpersonalization are key themes for retail this season. Consumers shifting tolower price points. Diamantaires satisfied with Dec. orders after tough year. Dealershoping reduced rough supply will support prices and relieve inflated polishedinventory. De Beers cuts production plan...Read More
Sluggish polishedtrading, with buyers struggling to find the right goods due to scarcity of popularcategories. Manufacturers cautiously raising production levels. Factories stilloperating below capacity with large inventories of lower-quality diamonds that aredifficult to sell at a profit. 0.30 to 0.70 ct., G-J, SI-I1 moving well. Starsand melee stable in SI and lower piqu?(C) clarities. Jewelry r...Read More
RAPAPORT... With the holiday season well under way, the Rapaport Diamond Podcast debates different trends taking shape in the retail space. The discussion spans personalization, omnichannel, effective storytelling, being more open-minded, and the need to move away from our reliance on Christmas.In addition, news editor and host Avi Krawitz, senior reporter Joshua Freedman, editor-in-chief Sonia Es...Read More
Domestic prices of rebar and wire rod in the Turkish market have continued to increase over the past week due to rising imported scrap costs, sources said on Thursday December 12.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,020-3,070 Turkish lira ($520-529) per tonne on Thursday, up from the 2,920-2,950 lira per tonne of last week.Steel producer...Read More
RAPAPORT... Operations at Petra Diamonds' South African mines haveresumed after the local electricity provider lifted restrictions on power usage. "The company's mining operations in South Africa are...nowoperating at normal load levels," the miner said Thursday. On Tuesday, Petra halted all production, hoistingand processing at its Cullinan, Finsch and Koffiefontein deposits after Eskom enf...Read More
RAPAPORT... Royal Asscher has appointed Kenji Saikachi as CEO of RoyalAsscher Japan, where he will be responsible for leading the jeweler's growth inthe country. "We are confident that [Saikachi] will successfully leadRoyal Asscher to become an even more important player in the Japanese diamondjewelry market," Royal Asscher managing director and vice president MikeAsscher said last week. "Wit...Read More
RAPAPORT... Diamond manufacturers will consolidate in the coming years to avoid being further squeezed by miners and retailers, Bain & Company predicted in its annual report on the industry.The forecast stems from the midstream becoming anincreasingly weak part of the supply chain while retailers and rough producers haveimproved efficiency. This has resulted in manufacturers becoming "pri...Read More