Prices for seaborne premium low-vol coking coal weakened on Wednesday November 6 amid deteriorating sentiment.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $146.16 per tonne, down by $0.53 per tonneHard coking coal, fob DBCT: $123.21 per tonne, unchangedHard coking coal, cfr Jingtang: $134.34 per tonne, unchangedLow-vol P...Read More

London Metal Exchange three-month base metals prices were broadly trading down in the morning session on Wednesday November 6, suppressed by low trading volumes despite stocks flowing out across all the metals today. The LME three-month copper price notably abated during the morning session, trading down to around $5,921.50 having hit a high of $5,978 per tonne yesterday while turnover for the day...Read More

SD Midweek Update: Epstein cover-up? Si! Coup against Trump? Yup! Silver price suppression? Crazy conspiracy theorist!Silver is getting hit pretty hard in the early morning hours.At the time of the pressure, the COMEX hadn't opened yet, and the cartel has succeeded in smashing the white metal under $17.50:A loss of over 10% (over 11% since early September highs) is what we call a "correction":Is u...Read More

The price range for steel rebar in the Northern European domestic market narrowed upward this week with higher ferrous scrap costs in October beginning to be reflected, sources told Fastmarkets on Wednesday November 6.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?465-475 ($517-527) per tonne on November 6, up by ?,?10 per tonne...Read More

Prices for hollow steel sections in Northern and Southern Europe were unchanged this week while market participants digested the news about ArcelorMittal pulling out of the deal to buy Ilva, market sources told Fastmarkets on Wednesday November 6.A mill source told Fastmarkets that the Ilva situation had changed the market in Italy and that, as a result, some mills had withdrawn their existing off...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday November 6 that are worth another look.Brazil's national mining agency, ANM, has concluded that Vale failed to report anomalies before a deadly disaster breach occurred at a tailings dam in its C??rrego do Feij??o mine in January.A falling US Midwest aluminium premium, stronger currencies in Asia and sustained higher freight r...Read More

Spot business in the global tin markets was somewhat subdued over the two weeks ended Tuesday November 5, with metals industry participants away at the London Metal Exchange's biggest event, LME Week in London, October 27-November 1. Possible return to low tin ingot premiums in Baltimore, US European premiums stay down on low demand Asian premiums show no uplift from recently announced production...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 6.Please click...Read More

Discounts for full-plate nickel cathodes in China swung back into premiums in the week to Tuesday November 5 and a newly-opened arbitrage import window refreshed spot appetite for material in the region, while buyers in Europe and the United States remained firmly on the sidelines. Asian nickel once more traded at a premium while an open arbitrage window enlivened spot activity in the regionEurop...Read More

Most zinc market focus was directed to long-term supply contracts that kicked off last week, keeping spot premiums quiet for most regions; meanwhile, the Taiwanese lead premium was the only mover this week. A persistent London Metal Exchange spread backwardation, relatively high zinc price and closed arbitrage window spot deals.  Supply tightness pushed up the spot lead premium in Taiwan.&nb...Read More

A consortium including Singapore-headquartered DBS Bank and commodity trading firm Trafigura has completed its first pilot trade on an open-sourced blockchain trading platform, with $20 million-worth of iron ore to be shipped from Africa to China in November 2019.The trade finance platform, called ICC TradeFlow, is also backed by Singapore government agencies Infocomm Media Development Authority (...Read More

Domestic prices for hot-rolled coil (HRC) in Europe have been stable over the past week, but offer prices for material were expected to move upward, sources told Fastmarkets on Wednesday November 6.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Northern Europe, was unchanged over the week at ?,?415-425 ($461-472) per tonne on November 6.The corresponding assessment for steel HRC...Read More

CIS billet suppliers failed to win deals at desired higher levels set over the past week despite the uptick in scrap prices as customers preferred to refrain from bookings amid slow demand for finished long steel products.Buyers' price ideas did not exceeed $365 pertonne fob Black Sea. Bids from customers in Egypt were heard at $375-380 pertonne cfr, or $355-360 per tonne fob Black Sea, ...Read More

Steel H-beam prices in Northern Europe moved down this week due to uncertainty over rising feedstock costs and weak demand, sources told Fastmarkets on Wednesday November 6. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, ?,?530-560 ($588-621) per tonne on November 6, down from ?,?540-570 per tonne on October 30.Trading levels have already begun to r...Read More

Indian steel manufacturers expect the Indian government to trim its support for their exports following an adverse ruling by the World Trade Organization in a subsidy dispute brought by the United States."The [Indian] Ministry of Industry & Commerce was already looking at revamping trade and tax policies, which includes scrapping certain export incentive schemes that have now been termed as s...Read More

RAPAPORT... Borsheims is offering jewelry- and diamond-related luxury adventuresthrough its holiday catalog this year, catering to millennials' desire for transparencyand experiences. The jeweler - owned by Warren Buffett's Berkshire Hathawayconglomerate - is selling a number of trips revolving around productscarried in the store, it said Tuesday. For $25,000, customers can purchase atrip for...Read More

RAPAPORT... Gem Diamonds has reduced its sales guidance for the year, asa problem with its high-value satellite pipe has forced it to mine from thelower-value portion of its Let??eng mine in Lesotho. The miner now expects to sell between 111,000 and 113,000carats compared to the 115,000 to 119,000 it had previously stated in March.Although it will increase the amount of ore treated, and has n...Read More

RAPAPORT... Revenue from Angola's national diamond-trading company,Sodiam, rose 12% year on year in the third quarter amid an increase in theaverage price. Prices of Angola's diamonds have continued to increase sincethe implementation of the country's new, more competitive diamond-tradingpolicy last year, the government noted. The program allows miners to offer 60%of their production to clien...Read More

RAPAPORT... The International Gemological Institute (IGI) and industry veteran Peter Meeus have put in rival bids to acquire HRD Antwerp.Meeus, HRD's former managing director, lastweek submitted a proposal to buy at least 51% of the lab in partnership withtwo unnamed individuals, he told Rapaport News Wednesday. IGI also placed a bid for thelab in the past two or three months, sources said."A...Read More

RAPAPORT... Sightholders welcomed De Beers' decision to lower pricesat this week's rough-diamond sale, but noted that further discounts werenecessary to improve profits in the manufacturing sector. The company reduced prices of higher-end goods by 5% to7% at this week's November sight, and offered deeper cuts in cheaper categories,sources reported. The move was a response to uncertain polished dem...Read More