RAPAPORT... Tiffany & Co. reported solid sales in fiscal 2019 as it introduced new products and sold higher-value jewelry.Group revenue was flat at $4.4 billion for the year ending January 31, matching the record annual sales figure the company reported in 2018. Sales increased 2% to $1.3 billion in the Asia-Pacific region, while revenue in the Americas fell 2% to $1.9 billion. Sales in J...Read More

Another set of major US automakers will extend manufacturing shutdowns due to the impact of the novel coronavirus (2019-nCoV).Hyundai Motor Manufacturing Alabama (HMMA) said in a statement it would extend suspension of production of automobiles in Montgomery, Alabama for seven days beginning Monday March 23 through Tuesday March 31. The suspension will reduce production by approximately 10,00...Read More

Steel plate prices in the United States held steady this past week while market participants attempted to measure the impact of the Covid-19 pandemic on production and demand. Most buyers said they had paused spot orders as last week progressed. With stay-home mandates proliferating in an increasing number of states - some accompanied by a suspension of construction projects - market par...Read More

Fastmarkets will continue to provide the price data, news and analytics you rely on in these turbulent times.Dear Colleagues,First and foremost, we hope that you, your family, your friends and your colleagues are keeping well in these uncertain times. Covid-19 has disrupted our economy, our normal work patterns and, for many, our lives. Before I speak to the status of our business continuity...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesKSDD007, which was drilled 100m south of thick mineralisation from two earlier holes in the program, delivered a stunning 1167m at 0.55 grams per tonne gold and 0.Read More

Brazilian mining company Vale reverted to a previous decision to temporarily stop activities at Teluk Rubiah Maritime Terminal (TRMT), its distribution center in Malaysia, due to intermittent material supply.The distribution center will remain closed until Tuesday March 31 at a minimum, the company said on March 23. Ships will then be redirected to blending units in China, adding that ov...Read More

The Turkish deep-sea scrap import market started the week in silence on Monday March 23, with some fearing the worst is yet to come with regard to the impact of the novel coronavirus (2019-nCoV), sources told Fastmarkets.The market has been quiet since a $23.90-per-tonne day-on-day price drop on Wednesday March 18, following news of a fresh cargo.Since then, market participants have turned increas...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe discovery, called Gregors, followed geochemical and geophysics work carried out over a number of years due to changing ownership structures at the now 100% Azure-held prospect.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 convenience of one provider with pay-as-you-need flexibilitySPONSOREDmicromineSo far, Latin America has not seen widespread outbreaks of the virus in the same way Asia, Europe and N...Read More

Turkish domestic auto bundle scrap prices have fallen sharply over the past week, in line with declining scrap import values, with some mills stopping their scrap purchases, sources said on Monday March 23.Turkish scrap import prices fell by 9% last week, amid the novel coronavirus (2019-nCoV) pandemic.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $249.0...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesPresident Martin Vizcarra announced emergency measures which include 15 days of obligatory self-isolation, closure of the country's borders and a temporary end to international flights.In recognition that not all aspects of mining operations can be stopped, the Ministry of Energy and Mines has given miners a partial exception allow...Read More

Seaborne coking coal prices retreated on Monday March 23, with fears of a global economic downturn taking hold due to the spread of the novel coronavirus (2019-nCoV), even though sentiment among Chinese participants was starting to become more optimistic.Fastmarkets IndicesPremium hard coking coal, fob DBCT: $159.43 per tonne, down $1.22 per tonnePremium hard coking coal, cfr Jingtang: $...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesDiversified miner Anglo American said it was implementing a controlled reduction of activities over 72 hours at its Los Bronces mine and other operations.Read More

The 2019-nCoV pandemic is definitely a black swan event, one which nobody saw coming. Global business sentiment has taken a massive hit, with major industries grinding to a halt on travel bans, quarantine orders and border controls. Major airlines such as Singapore Airlines and Qatar Airways have grounded their fleets, stock markets have collapsed with exchanges closing and tourism is taking a pun...Read More

The rebounds in the metals toward the end of last week do seem to have been countertrend moves as expected; this morning, Monday March 23, the base metals are down across the board on the London Metal Exchange and Shanghai Futures Exchange. Asian Pacific equity indices were mainly lower this morning, the exception was Japan’s Nikkei, but it was closed on Friday for a national holiday, as such...Read More

Seaborne iron ore prices plummeted on Monday March 23, with concerns about ex-Chinese demand took center stage, pushing Chinese participants to recalibrate their outlook on the steelmaking raw material.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $81.07 per tonne, down $6.91 per tonne 62% Fe low-alumina fines, cfr Qingdao: $82.17 per tonne, down $6.98 per tone58% Fe fines high-grade pre...Read More

Global ferrous scrap prices dropped again during the week to Friday March 20, with the spread of the novel coronavirus (2019-nCoV) continuing to weigh on markets and squeeze demand from steel mills.Turkish import prices record midweek plungeUS West Coast scrap flows begin to dry upTaiwan, Vietnam buyers delay bookings on expectations of further price dropsIndian import prices struggle amid weakeni...Read More

The copper price is coming off its worst week in almost a decade, but analysts feel there could be more downside for the metal as novel coronavirus (2019-nCoV) lockdowns globally wreck demand prospects. The London Metal Exchange three-month copper price closed at $4,810 per tonne on Friday March 20, down 11% from the start of the week and hit a three-year low of $4,371 per tonne on Wednesday. Gove...Read More

U.S. equity index futures were higher this morning. Equity index futures dropped their regulated limit in overnight trading, but recovered strongly after the Federal Reserve indicated unlimited Quantitative Easing through purchase of U.S. Treasury bonds. S&P 500 futures advanced 32 points in pre-opening trade.Boeing gained $1.03 to $96.04 after Goldman Sachs upgraded the stock to Buy. Visa dro...Read More

The London Metal Exchange three-month copper price was lower during morning trading on Monday March 23, with continued selling pressure pushing copper to test support at $4,500 per tonne, while a rewarranting of 4,566 tonnes led to nickel's decline this morning. Copper's underlying price on the LME was recently at $4,559 per tonne, down by 3% from Friday's closing price of $4,810 per tonne. Copper...Read More