The principal flat steel suppliers to Russia's Central Federal District around Moscow kept their prices unchanged this week despite a slowdown in demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was unchanged at 45,100-45,500 roubles ($676-681) per tonne on Monday August 19, including 20% VAT. "Mills are citing pla...Read More
From left: Michael Goren, VP Global Sales & Marketing at Sarine; Mehul Shah, VP BDB; Ramniklal Shah, Founder of Venus Jewel; Ms Rajeshwari Mehta, VP Business Development at Sarin India; and Yoav Efrat, Managing Director at Sarin India Sarine Technologies Ltd. launched its Sarine Lab Services on August 12th with a grand opening event at the Bharat Diamond Bourse (BDB). Established on th...Read More
The European Commission (EC) proposed some adjustments to the existing safeguard measures for steel product imports in Europe to the World Trade Organization (WTO) on August 14, Fastmarkets has learned.The definitive safeguard mechanism already in place increases the level of tariff-free quotas for each product category by 5% annually. The first liberalization took place on July 1, 2019, which was...Read More
The Plumb Club announced it had completed analyzing attendance statistics for its brand-new pavilion at this year's JCK Las Vegas Show. While an increase was expected, the results were record breaking. Based on badge scans of attendees entering The Plumb Club Pavilion Caf?? (C) throughout the show, total retailer visits were up 46 percent year on year. "The numbers far surpassed what we had...Read More
During Q2 of 2019, Lucara's revenue totaled $42.5 million, realizing $417 per carat. This constitutes a drop of 35 percent compared to $64.5 million realized in the second quarter of 2018, when the price per carat sold stood at $856 per carat. Lucara stated the sales figures were consistent with its management's expectations and plans. "A strong operating environment prevailed at the Ka...Read More
Macauhub reported that the Angolan state diamond trading company Sodiam reported a gross revenue of $232.8 million in the second quarter of 2019. The company said it had sold 1.5 million carats at an average price of $ 155.3 per carat. Sodiam's revenue dropped to $135.8 million in the second quarter compared to the first quarter, because Sociedade Mineira do Catoca, the largest Angolan produc...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil declined during the week to Tuesday August 20 after steel mills lowered their asking prices.The move failed to boost market activity, however, because of a bearish market sentiment and expectations that prices will reduce further, market sources said.Cold rolled coilFastmarkets' weekly price assessment for steel cold-rolled...Read More
Pandora, a world leading manufacturer and marketer of hand-finished, contemporary fashion jewelry, announced it is making good progress toward the brand's relaunch on 29 August. Pandora jewelry, which has become known for its high-quality materials and affordable prices, is sold in more than 100 countries on six continents through more than 7,500 points of sale, including more than 2,700 conc...Read More
China's domestic hot-rolled coil prices retreated on Tuesday August 20, which led some producers to lower their export offers to secure more orders by the end of the month.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($528-529) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,720-3,730 yuan per tonne, widening downward by 10 yuan per tonneSpot prices retreated after trading acti...Read More
RAPAPORT... Albert Milton, managing director of De Beers'Botswana joint venture, has died, the company said Friday. Milton passed away early Friday morning after becomingunwell Thursday night in Johannesburg, where he was admitted to the hospital. "De Beers is shocked and saddened by the sudden death ofAlbert Milton," the miner said. "We extend our deepest condolences to Albert'sfamily, rela...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
De-risking delivers value in GalenaSPONSOREDgalena miningAccounting firm EY's Canadian Mining Eye index increased 3% over the March quarter, when it gained 5%. The index tracks the mining sector performance of 100 TSX and TSXV-listed mid-tier and junior companies with market values between C$169-$2.5 billion.The latest quarter ended with spot gold at US$1,414/oz, benefitting from an 8% gain in Jun...Read More
Terramin leads gold-copper revival in South AustraliaSPONSOREDterramin australiaNew mineral sands miner polishes its ImageSPONSOREDimage resourcesAustralian Vanadium targets growing energy-storage and steel marketsSPONSOREDaustralian vanadiumThickened tailings deposition for closureSPONSOREDsrk consultingTaken from part of the Kamoa-Kakula project currently under development in the Democratic Repu...Read More
Prices for most ferrous scrap grades in Mexico's steelmaking regions of Monterrey and Baj?-o logged slight increases in the week ended Friday August 16, with some sellers were reportedly receiving higher spot prices from certain consumers.In the Monterrey region, a major mill was heard to be raising prices for higher grades of scrap, including busheling, by around 300 pesos per tonne - the second...Read More
Caution prevails Base metal prices have been undermined by an overall risk-off environment on growing recession fears following the inversion of the US yield curve last week, despite a slight de-escalation of US-China trade tensions. Aluminium: Modest rebound, but hard to be bullish Given the current macro backdrop and aluminium’s own micro-dynamics, we remain cautiously bearish in the very s...Read More
Developments in China's steel industry and the country's persistent focus on implementation of environmental policies will underpin demand for high-quality seaborne iron ore, BHP said in an outlook document on Tuesday August 20.In the medium to long term, the supply side reform, the expected migration of steel capacity to coastal regions, the inexorable trend toward larger furnaces and more string...Read More
Fund managers maintaining bearish stance The challenging macro-economic backdrop constituting ongoing trade wars, weak economic data points and the uncertain demand outlook for the aluminium market easily justifies why its price action remains weak, which corresponds with the bearish net speculative funds positioning. LME fund managers have maintained their bearish stance for the third consecutive...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center,...Read More
Aluminium Buyers had a chance to push the LME three-month aluminium price higher on Monday August 19, but sellers were able to defend near the 100 DMA at $1,815 per tonne. Although the price has worked itself higher since the August low at $1,745 per tonne, the 100 DMA will not be the easiest overhead resistance to crack and we have seen such an attempt one too many times this year. More ofte...Read More
Market recap Copper has traded sideways recently, undermined by a poor risk sentiment despite the recent slight de-escalation of US-China trade tensions, evident in several events which took place last week including (1) the tariff delay on some consumer goods by the US, (2) an extension of “the temporary general license” granted to Huawei Technologies in the US, (3) a positive phone cal...Read More