Diamond production in Q3 grew by 24% quarter on quarter and 15% year on year to 12.1m carats, the company said Thursday. Alrosa attributed the quarter on quarter rise to "seasonally increased production at alluvial deposits". The year on year growth was down to start up at the V.Munskoye deposit in Q4 2018 and increased production at the Botuobinskaya pipe, it said.Sales excluding polished diamond...Read More
Having failed to win a referendum to amend the constitution in 2016, he turned to the courts he filled with friendly faces to win the right to run again.Read More
Here are five Fastmarkets MB stories you might have missed on Thursday October 17 that are worth another look.Alcoa has launched a multi-year review of its aluminium portfolio, placing roughly half of its global smelting capacity under scrutiny for potential curtailment or closure, the company said in an earnings call with investors on Wednesday October 16.Stronger demand from the energy sector an...Read More
- Avi GilburtWhile we have been tracking the metals market for the next rally set-up, we have seen some signs that the market may attempt to begin that rally sooner rather than later. However, I have to be honest in noting that I am seeing more signs that lower levels may still be struck before we are ready for that rally. So, as I have been saying for the last few weeks, I am going to stil...Read More
By: Ira EpsteinGold has support around $1,470 level. Daily gold chart is in a stall..Read More
By: Ira EpsteinGold weekly chart 18-Weekly MA near $1,469. Gold bias yesterday went to the downside. Under the 18 day moving average, 1474 area support..Read More
Investors are preferring stock over gold. This has resulted in the correction and not a bear rally. Bear rally will be there if gold does not break $1466 by 15th November. I will prefer to remain on the sidelines in gold today. I will still prefer to use crashes of $100 and more in silver (if any) to invest for the long term. Day traders have to remain on the sidelines in silver. Trump impeachme...Read More
Mining corporation Barrick is eyeing potential alternative processors for concentrates produced at its Lumwana copper mine in Zambia while it waits for a third-party smelter to resume operations after a major refurbishment.The refurbishment was to one of the third-party smelters that processes a portion of the copper concentrate produced at Lumwana. It was expected to be completed by the end of th...Read More
The London Metal Exchange's cash-settled alumina futures contract, which is settled against a basket of prices that includes Fastmarkets' index, traded for the first time on Thursday October 17. Ten lots traded at $284 per tonne for November 2019. There were also two separate trades on the January 2020 contract at $294 per tonne for 10 lots each. The trades concluded between 8:18 and 8:23am London...Read More
British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, has restarted production after a fire damaged its plant in April, according to an industry source. The company had intended to restart production in the third quarter of this year. FE Mottram, which is owned by Belgium-based ferro-alloys and metals trader Metraco, stopped production at its plant in She...Read More
* Palladium hits fresh high of $1,783.21/oz * GRAPHIC-Platinum/palladium ratio: (Adds comments, updates prices)By Eileen SorengOct 17 (Reuters) - Gold edged up on Thursday as investorsfocused on lingering uncertainties over U.S.-China trade ties,while deficit-ridden palladium soared to another record high.Spot gold rose 0.3% to $1,494.05 per ounce at 1336GMT. U.S. gold futures also rose 0.3% to $1...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Turkish steel producers restarted their deep-sea scrap bookings for November shipments at slightly higher prices, sources said on Thursday October 17.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $242 per tonne and 5,000 tonnes of bonus at $252 per tonne cfr.The previous Baltic Sea cargo reported by Fastmarkets was sold at $237 per...Read More
British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, has restarted production after a fire damaged its plant in April, according to an industry source. The company had intended to restart production in the third quarter of this year. FE Mottram, which is owned by Belgium-based ferro-alloys and metals trader Metraco, stopped production at its plant in She...Read More
Turkish steel mills continued to stay away from the deep-sea scrap markets awaiting clarity in the finished steel markets, sources said on Wednesday October 16.Late on Monday October 14, US president Donald Trump said he would impose a 50% tariff on imports of steel from Turkey in response to its military actions in Syria.Following the news, Turkish steel mills suspended their bookings o...Read More
In 1948, animation director Chuck Jones and writer Michael Maltese first created the classic Looney Tunes duo of cartoon characters Wile E. Coyote and the Road Runner.From the start, Jones assigned what he called "disciplines" to the characters. These were simply character traits and plot models. They included standards such as the fact that the Road Runner can never hurt the Coyote, the Coyote ca...Read More
You'd be surprised how many people ask me what the price of oil will be in a year.What's more interesting is the look on their faces when I tell them what it would cost them, right down to the penny.If you wanted to buy a barrel of oil right now and take delivery at some point in October of 2020, it would cost you exactly $51.46 per barrel as I write this.No, I'm not reading any tea leaves, nor am...Read More
Mining corporation Barrick is eyeing potential alternative processors for concentrates produced at its Lumwana copper mine in Zambia while it waits for a third-party smelter to resume operations after a major refurbishment.The refurbishment was to one of the third-party smelters that processes a portion of the copper concentrate produced at Lumwana. It was expected to be completed by the end of th...Read More
Economy-sensitive stocks received some good news out of Washington on Friday, and it had nothing to do with the trade war. For industrial commodities, it could be the biggest news in over 8 years.IMF global commodity prices peaked in the second quarter of 2011 coinciding with the end of QE 2 which involved the Fed buying approximately $75 billion worth of Treasury bonds and notes over an 8-month...Read More