A bullish reversal.Reason one: Central bank policy and buying.Reason two: Currency devaluation around the world.Reason three: The long-term chart.Reason four: Uncertainty - UGLD on dips in a bull market will turbocharge returns.My introduction to working in the commodities market came during the summer of 1977, when I worked delivering telex messages at the leading raw materials trading company in...Read More
CIS steel billet export prices fell this week after a lack of trading activity, caused by the summer lull in most key destinations, combined with a general downtrend in scrap values, sources told Fastmarkets on Tuesday August 13.Some CIS mills were offering billet at about $410 per tonne fob Black Sea on Tuesday, but other producers preferred to take wait-and-see position befor...Read More
Import prices for steel slab in Southeast Asia and East Asia remained stable over the past week despite weaker currencies in some markets following a flare-up in trade tensions between China and the United States.The Taiwanese dollar was trading at NT$31.41 to $1 on August 13, compared with NT$31.05 to $1 a month earlier, while Indonesia's currency moved to 14,245 rupiah per $1 on August...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 13 that are worth another look.Glencore trader Hu Qiang has been released without charge 15 months after being arrested in a crackdown on illegal imports of secondary lead waste in China, Fastmarkets has learned.Miner-smelter Nyrstar expects the most recent outage at its Port Pirie lead smelter in Australia to last for 12...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.Copper is a cornerstone of the EV revolution.At the heart of the electric vehicle, copper is used throughout because of its high electrical conductivity, durability and malleability. And even more is used in charging stations and in s...Read More
Zinc's three-month price on the London Metal Exchange continued its ascent during morning trading on Tuesday August 13, appreciating by over 1% to steadily approach the $2,300-per-tonne level, while lead was the only metal across the complex to trade lower. Volumes traded over the morning were low however, indicating a lack of liquidity across the exchange. Some 1,386 lots of zinc have traded so f...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.The U.S has increased tariffs on $200bn of Chinese goods to 25%, from 10%, impacting a number of metals. Commentary below comes from the Wood Mackenzie metals team:Copper By Wood Mackenzie Senior Consultant, Yanting Zhou"Previous...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.Read More
The economic and geopolitical clouds are getting more widespread and darker with unrest in Hong Kong and debt default concerns in Argentina adding to market concerns that are already stressed by the continuing US-China trade dispute, poor global economic data, stalemate over Iran and the potential for a hard Brexit. Gold has pushed up to another fresh multi-year high on Tuesday August 13, but some...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.On Friday 15th February 2019, Vale announced there was a fire affecting a conveyor belt system at its distribution centre in Malaysia. Vale anticipate this will result in a 10 to 15 day halt in operations and note that a planned 10 da...Read More
With the exception of nickel, base metals prices on the Shanghai Futures Exchange were little changed during morning trading on Tuesday August 13 after market participants' appetite for commodity investment was dampened by continuing geopolitical and trade tensions. "Hong Kong tensions took the limelight from trade tensions overnight, with a risk-off tone to markets as protestors in Hong Kong mana...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.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
Here are five Fastmarkets MB stories you might have missed on Monday August 12 that are worth another look.The main works at China Hongqiao Group were reported to have suffered from severe flooding caused by Super Typhoon Lekima, Fastmarkets learned, but the company has denied claims that it has been forced to stop production.Nyrstar's Port Pirie lead smelter in South Australia has incurred anothe...Read More
RAPAPORT... Alrosa is preparing to sell a rare, 14.83-carat pink laterthis year, as the Russian miner continues its efforts to build up itscolored-diamond business. The Gemological Institute of America (GIA) graded theoval-shaped diamond as fancy vivid purple pink, with internally flawlessclarity, "excellent" polish, and "very good" symmetry. The GIA said the stonewas the largest of that color cat...Read More
RAPAPORT... Polished-diamond imports to Hong Kong declined 6% in thefirst half, according to data from the Diamond Federation of Hong Kong,China. Lower volumes outweighed growth in the average price, the figuresshowed.Hong Kong Trade Data for 1H 2019 $ Millions unless stated otherwiseRead More
RAPAPORT... India's diamond and jewelry trade is hoping to take market share from Chinese suppliers after the US government announced a hike on import duties from China. There's a changing world order and India is well placed to capitalize on these changes, stressed Pramod Agrawal, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), at the opening of the India International...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.India's renewables target of 175 GW capacity (100 GW of solar and 75 GW of wind) by 2022 is an ambitious endeavour. Even with significant cost declines, Wood Mackenzie expects about 76% of the target to be met by 2022 and this would s...Read More
RAPAPORT... Diamond traders have raised concerns ahead of next month's Hong Kong Jewellery & Gem Fair, as mass protests have caused chaos and dented local demand. The show will still take place as planned, organizersInforma Markets confirmed to Rapaport News Friday. However, access to the venues is currently difficult,according to dealers, who are pinning their hopes on unrest in the city rece...Read More
Organized by the Continental Buying Group and Preferred Jewelers International, the new Diplomat show will be held right after Labor Day on September 4, 5, and 6. at the newly renovated Diplomat Hotel and Resort in Hollywood Florida, in a statement, the organizers said that "As we head into the critical fourth quarter, [we will be] offering great opportunities for retailers to fill up their cases...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.Comstock Resources today tightened its grip on the Haynesville basin with a US$2.2 billion cash-and-stock deal to buy privately-held Covey Park.Robert Clarke, director, US Lower 48, at global natural resources consultancy Wood Mackenz...Read More