The latest forecast from Fastmarkets' team of analysts is ready to view.As we enter the summer season across the northern hemisphere, almost half a year has passed since the Covid-19 pandemic began to seriously affect Europe and the United States.One would not really be able to tell that such a dramatic event had occurred by looking at stainless steel prices, however, because they are more or less...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are relatively stable this month, showing little change since our previous tracker. Such stability masks growing issues for stainless steelmakers, however, who are increasingly unable to pass on rising costs to consumers and are, thus, facing cuts to their margins.In general, this is due to an excess of...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Fuelled by public policy and declining battery costs, global electric bus adoption is set to triple by 2025. The Chinese market - the most promising in this sector - will surpass the 1 million e-bus mark by 2023 and reach 1.3 million...Read More
Turkish domestic scrap prices increased over the past week in line with strengthening domestic finished steel prices and imported scrap costs, sources said on Monday August 17.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,890-2,115 lira ($257-288) per tonne on Monday, up from 1,720-2,045 lira per tonne last week.A number of steel mills ra...Read More
RAPAPORT... The New York Stock Exchange (NYSE) has told Birks Group it is no longer compliant with its listing rules, after the Canadian jeweler incurred losses for four consecutive fiscal years.NYSE American, the exchange's submarket for smaller companies, requires its members to maintain stockholders' equity - the value of assets minus liabilities - of at least $4 million. A company breache...Read More
Domestic prices for hot-rolled coil in Northern Europe were unchanged day on day on Monday August 17, after a gradual increase last week, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?419.17 ($496.32) per tonne on Monday August 17, unchanged from August 14.The index was, however, up by ?,?5.00 per tonne week on wee...Read More
RAPAPORT... US polished-diamond imports fell again in June, but the rate of decline eased as the economy reopened following lockdowns. Shipments were down 34% to $822 million for the month, according to the Commerce Department, compared with drops of 61% in March, 98% in April and 87% in May. US Trade Data for June 2020Read More
RAPAPORT... The numberof jewelry pieces being sent to the International Gemological Institute (IGI) forgrading and authentication continues to increase, indicating a faster-than-expectedrevival among jewelers, according to CEO Roland Lorie."I think that the problems come more from production andmanufacturing than the consumer side,"Lorie said on episode 31 of the Rapaport Diamond Podcast. "I'...Read More
RAPAPORT... The World Diamond Congress will take place in a virtual format beginning September 14, giving industry leaders an opportunity to brainstorm ways of navigating coronavirus-related challenges. The biennial event, a joint meeting of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA), was originally scheduled to take plac...Read More
RAPAPORT... US retail sales recorded their third consecutive rise in July, government data showed, as stores gradually resumed operations and devised ways of serving customers during the pandemic.Revenues of $536 billion for the month were 1.2% higher than in June and 2.7% above July 2019, according to figures the US Census Bureau released Friday. Sales outside of retail locations - such as v...Read More
(IDEX Online) - Chinese mining giant Anjin has officially resumed operations at Chiadzwa, Zimbabwe, almost five years after all the country's diamond mining was consolidated into a single government-run corporation.The Mugabe administration forced the closure of seven mining companies, including Anjin, and went on to merge their assets into the Zimbabwe Consolidated Diamond Company (ZCDC).But...Read More
(IDEX Online) - Australian miner Lucapa has restructured $13m of loan repayments after the pandemic saw rough sales plunge by 80 per cent.It said major financiers and shareholders, Equigold, New Azilian, and the Industrial Development Corporation of South Africa had deferred loan repayments from 2020 to 2022 and beyond.Managing director Stephen Wetherall said the amendments reflected an understand...Read More
AMAG Austria Metall Ag will acquire a 70% stake in German aerospace and aviation components manufacturer Aircraft Philipp Gruppe (ACP), the Austrian aluminium cast and flat rolled products company said. The deal is expected to be concluded in late autumn, with ACP to be retained as an entity which will operate and be managed as an independent company. ACP current owner Rolf Philipp will retain a 3...Read More
The aluminium premium at main Japanese ports (MJP) in the fourth quarter of 2020 was unlikely to rise from its level in the third quarter even though the gradual recovery of demand in the country has improved market sentiment in recent weeks, sources have told Fastmarkets.Last week was part of the summer break for the majority of end-users in Japan, but participants said that the MJP market has be...Read More
The three-month zinc price on the London Metal Exchange was the standout performer during morning trading on Monday August 17, pushing past the $2,400-per-tonne resistance level despite continued stock inflows, while nickel futures continued their ascent against a wide forward curve.Zinc's outright price on the LME was recently trading at $2,426 per tonne, up 2.5% from $2,367.50 per tonne at the c...Read More
Metal prices were mostly firmer on both the London Metals Exchange and the Shanghai Futures Exchange on Monday August 17, the exception was the SHFE September aluminium contract that was down by 0.3% while the rest of the metals on both exchanges were up by an average of 1.1%. United States/China trade talks over the weekend were postponed. Japan's preliminary gross domestic product fell by 7.8%...Read More
88 Energy (ASX:88E) Prepares for Billion Barrel Farm OutSPONSORED88 energyLithium no quiet place for AVZSPONSOREDavz mineralsScoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Element 25's Butcherbird on songSPONSOREDelement 25The project is now ready for development, pending finance. Earlier this month, Orion was granted the water use licence.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resources"The preliminary information indicates that the accident occurred underground at the Kakula north workings when a contractor's employee collided with the side wall of an access drive while attempting to move a drilling rig," Ivanhoe said.The company said Kamoa-Kakula's senior management team was working with DRC authorities to faci...Read More
Domestic flat steel suppliers to Russia's Central Federal District around Moscow are keen to increase prices from September, supported by stronger exports, although buyers doubt they will stick, sources told Fastmarkets on Monday, August 17.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was unchanged at 41,000-42,000 roubles ($563-576)...Read More
Prices for rebar in Russia's Central Federal District around Moscow remained flat over the week to August 17, while sentiment in the market remained bullish on good demand from construction, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 35,000 roubles ($480) per tonne on Monday, including 20% VAT, flat with the week before and...Read More