Russian miner Alrosa has launched a digital tender for special size rough diamonds weighing more than 10.8 ct.The miner decided to cancel the upcoming special size auctions, simultaneously offering customers the opportunity to take part in a digital tender if they need rough diamonds.AdvertisementThe digital tender allows customer to buy diamonds despite current travel restrictions imposed between...Read More

The price of austenitic alloy steel scrap in Europe plunged this week because of a sharp drop in demand, despite a lack of availability, sources told Fastmarkets on Friday March 27.The low demand has stemmed from a mixture of closures and reduced output rates at stainless steel mills, meaning a reduction in their feedstock requirements. In Italy, all mills have suspended operations following a gov...Read More

The price of ferrous scrap imported into India plummeted this week after the announcement of a 21-day lockdown across the country, sources told Fastmarkets on Friday March 27.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $247 per tonne on Friday. This was down by $44 per tonne from $291 per tonne one week earlier and at its lowest since October 24, 201...Read More

Export prices for pig iron from Brazil moved lower during the week ended Friday March 27 on sales to China.Fastmarkets' weekly price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $297-300 per tonne on Friday compared with $315-320 per tonne a week earlier."China was the only market where demand on pig iron...Read More

The inter-merchant spot market for light iron scrap in the UK dropped by more than 23% in the week to Friday March 27, after a fall of almost 19% the previous week, and now stands at its lowest level since September 2016.The slump follows a collapse in demand for steel from car makers in the UK and Europe, with many car makers suspending output until further notice. Much of the UK's steel producti...Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThe ESG bar has just been raised... Who will get over it?SPONSOREDstrategia worldwideUnder the Bill, when health authorities suspend economic activity in the country or a specific zone...Read More

The effects of the Covid-19 pandemic kept Turkish steel mills away from the deep-sea scrap market at the end of the week, while several mills and re-rollers shut down or cut production, sources told Fastmarkets on Friday March 27.The coronavirus outbreak has brought domestic steel trade to a near halt in Turkey, which led some mills to stop buying scrap from both local and overseas suppliers."I he...Read More

Import prices for ferrous scrap in Taiwan have fallen to a three-and-a-half-year low amid the spread of the Covid-19 coronavirus across all parts of the United States, the key supplier, where sellers have been trying to offload material to Asia quickly ahead of further price falls.Talk of prices plunging in the major Turkish import market also caused many buyers to hold back from trading in the we...Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThe ESG bar has just been raised... Who will get over it?SPONSOREDstrategia worldwideFirst up, the slump in the Aussie dollar from last (calendar) year's average of US69c to below 60c h...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesWith the virus halting industrial output in China, copper consumption took a hit in the first quarter with demand down 14% year-on-year during the quarter, according to research from BMO CapitalRead More

Seaborne iron ore prices dipped on Friday March 27 amid mounting concerns that steel production cuts outside China and the subsequent drop in demand for raw materials will lead to the diversion of cargoes to Chinese ports.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $86.36 per tonne, down $0.41 per tonne 62% Fe low-alumina fines, cfr Qingdao: $87.02 per tonne, down $0.62 per t...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesPolyMet and the Department of Natural Resources (DNR) had petitioned the Supreme Court in February to overturn the lower court's January 13 ruling, which remanded the three permits to the DNR for a contested case hearing."The court of appeals' interpretation of the statute creates tremendous uncertainty for companies who want to in...Read More

Seaborne coking coal prices saw limited movement on Friday March 27, with market participant sentiment outside China decidedly bearish while those in China took a different view. Fastmarkets IndicesPremium hard coking coal, fob DBCT: $153.44 per tonne, up $0.41 per tonnePremium hard coking coal, cfr Jingtang: $158.03 per tonne, down $0.22 per tonneHard coking coal, fob DBCT: $139.89 per tonne, dow...Read More

Eastern China's hot-rolled coil prices continued to fall on Friday March 27 on thin trading. Exporters too reported thin trading amid the availability of cheaper cargoes from other countries such as India.DomesticEastern China (Shanghai): 3,330-3,350 yuan ($470-473) per tonne, down 20 yuan per tonneNorthern China (Tangshan): 3,280 yuan per tonne, unchangedA Shanghai-based trader said sellers in th...Read More

Base metals' stocks in Shanghai Futures Exchange-approved warehouses all fell over the week to Friday March 27, with lead, in particular, registering the biggest outflows. Lead stocks in Shanghai Futures Exchange-approved warehouses slumped by 38% to 13,969 tonnes in the week to Friday March 20. The outflow mainly came from the Guangdong...Read More

The three-month tin price on the London Metal Exchange was higher during morning trading on Friday March 27, with prices supported by a cancellation of 700 tonnes out of LME-registered warehouses in Port Klang, while zinc futures showed signs of improvement. Tin's underlying price on the LME was recently seen at $14,310 per tonne, up from a morning low of $13,970 per tonne. Turnover was moderate a...Read More

Rebar importers outside China have been asking lower prices due to the decrease in billet prices in the international market, while China's domestic rebar prices were flat on Friday March 27 amid steady trading.Eastern China (Shanghai): 3,470-3,500 yuan ($490-495) per tonne, unchanged Northern China (Beijing): 3,380-3,400 yuan per tonne, unchangedThe weak futures led to lower buying interest in sp...Read More

Markets are looking quite mixed this morning, Friday March 27, with most Asian-Pacific equity indices up, the pre-market Dow Jones Industrial Average (DJIA) down by 1.1%, while base metals prices on the London Metal Exchange and Shanghai Futures Exchange are up and gold is down from recent highs.It is not surprising the markets are mixed as it is confusing that the DJIA rallied by 6.4% on Thursday...Read More

Base metals prices on the Shanghai Futures Exchange were all up at the close of morning trading on Friday March 27, with the complex buoyed by positive performances in equity markets overnight and this morning.The $2-trillion economic stimulus package approved by the United States Senate late on Wednesday and expectations of a coordinated response from Group of 20 (G20) nations to combat the Covid...Read More

Markets are looking quite mixed this morning, Friday March 27, with most Asian-Pacific equity indices up, the pre-market Dow Jones Industrial Average (DJIA) down by 1.1%, while base metals prices on the London Metal Exchange and Shanghai Futures Exchange are up and gold is down from recent highs.It is not surprising the markets are mixed as it is confusing that the DJIA rallied by 6.4% on Thursday...Read More