Prices for CIS-origin hot-rolled coil (HRC) and cold-rolled coil (CRC) remain high, with producers almost sold out of February-rolled material."The market is frozen because mills don't have material," a trader told Metal Bulletin on Monday January 22. He added that it was possible to buy CRC from Russian mills, but HRC was totally sold out.Meanwhile, March-rolled material was available from Ukrain...Read More
Base metals prices on the London Metal Exchange mostly closed in positive territory on Monday January 22 on continued support from the weaker dollar.Lead prices closed back above $2,600 per tonne and close to seven-year high levels. The global refined lead market recorded a deficit of 169,000 tonnes year-to-date through November 2017, according to the International Lead & Zinc Study Group. "The st...Read More
The latest metal markets news and price moves to start the North American day on Monday January 22.Base metals prices on the London Metal Exchange were higher across the board in morning trading, with the dollar still weak.The three-month lead price remains robust on Monday. It climbed above $2,600 per tonne this morning, before retreating slightly, supported by tightness in the market and a bulli...Read More
RAPAPORT... India's polished-diamond exports increased 2.1% to $23.09billion in 2017 as the nation shipped out a higher volume of goods. By weight, exports jumped 14% to 37.3 million carats, whilethe average price slipped 11% to $620 per carat, Rapaport calculations show. Netpolished exports - representing exports minus imports - jumped 3.8% to $20.71billion, according to the figures, which are ba...Read More
Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Monday January 22.Copper prices on the Shanghai Futures Exchange edged lower during Asian morning trading on Monday, following a further increase in SHFE deliverable red metal stocks last week.Copper recorded the biggest stock increase across the SHFE base metals complex last week, with SH...Read More
RAPAPORT... Jewelers of America picked the winners of its 16th annual GEM Awards, held on Friday in New York. Irene Neuwirth of Irene Neuwirth Jewelry won in the jewelry-design category for her modern style using raw, unmanufactured gemstones, while Marion Fasel took home the prize for media excellence for online magazine TheAdventurine.com.The retail-innovation award went to Moda Operandi, which...Read More
JOHANNESBURG (miningweekly.com) – LSE-listed Gem Diamonds on Monday reported that it has the recovered a 149 ct, D-colour Type IIa diamond, with excellent shape, from its 70%-owned Letšeng mine, in Lesotho.This is the fourth high-quality diamond of over 100 ct recovered so far this year, and follows closely upon the recovery of the exceptional 910 ct diamond on January 15.Letše...Read More
RAPAPORT... Michael Hill's sales rose 4.7% in the fiscal first half asgrowth in Canada and New Zealand outweighed a weaker performance in the US. Group revenue increased to $273.1 million (AUD 341.5million) in the six months that ended December 31, the jewelry retailer said in a recenttrading update. Same-store sales - those at branches open for at least a year -climbed 0.5%. Total sales in New Ze...Read More
RAPAPORT... Gem Diamonds has unearthed its fourth 100-carat-plus diamond this year from its Let??eng mine in Lesotho, the company reported Monday. The discovery of the D-color, type IIa stone followsthe recovery of a 910-carat, D-color diamond from Let??eng last week, believed tobe the fifth-largest rough in history. The miner also uncovered two D-colorstones weighing 117 carats and 110 carats ear...Read More
Total volumes in all of the London Metal Exchange's futures and options contracts rose by 0.5% last year, which is hardly a dramatic result one way or the other, although it did at least halt a run of annual declines.Declines in aluminium and copper turnover were to an extent offset by increases in zinc, nickel and lead. As well, the exchange's new gold and silver contracts chipped in with some us...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Nonferrous metals saw a mixed performance today. Nickel led gains with a 2% rise, followed by tin with a 1.4% gain. Zinc edged up 1% and copper and lead rose slightly. Only aluminium saw a decline today.Ferrous metals saw narrower rises. Coke rose 1.5% while rebar and hot-rolled coil moved higher slightly over 1%. Iron ore gained 0.7% while coking coal dipped...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Nonferrous metals saw a mixed performance today. Nickel led gains with a 2% rise, followed by tin with a 1.4% gain. Zinc edged up 1% and copper and lead rose slightly. Only aluminium saw a decline today.Ferrous metals saw narrower rises. Coke rose 1.5% while rebar and hot-rolled coil moved higher slightly over 1%. Iron ore gained 0.7% while coking coal dipped...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Nonferrous metals saw a mixed performance today. Nickel led gains with a 2% rise, followed by tin with a 1.4% gain. Zinc edged up 1% and copper and lead rose slightly. Only aluminium saw a decline today.Ferrous metals saw narrower rises. Coke rose 1.5% while rebar and hot-rolled coil moved higher slightly over 1%. Iron ore gained 0.7% while coking coal dipped...Read More
U.S. equity index futures were slightly lower this morning. S&P 500 futures were down 1 point in pre-opening trade. Futures are responding to shut-down of the U.S. government over the weekend. Juno Therapeutic jumped $18.41 to $86.22 after Celgene offered to purchase the company for $87 per share. Value of the offer is estimated at $9 billion. Celgene dropped $1.30 to $101.35.Intel (INTC $44.8...Read More
China’s refined copper output rises 16.7% on a yearly basis to 865,000 mt in December, setting a new high since February 2015, according to data released by the National Bureau of Statistics today.The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Copper: LME copper sees resistance and is expected to retrace further towards $7,000/mt. With weak spot demand and excess inventory, LME copper is expected to trade at $7,010-7,065/mt while SHFE 1803 is to trade at 53,100-53,650 yuan/mt. Spot discounts are to move at 150-100 yuan/mt today.Aluminium: We see LME aluminium trading at $2,200-2,230/mt to...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Monday January 22, with the complex up by an average of 0.2%. Three-month copper prices ($7,096 per tonne) are up the most with a 0.7% gain, while nickel, zinc and lead prices are up by around 0.3% and aluminium and tin prices are little changed.Volume has been average with 6,376 lots traded as of 6.59am L...Read More
Recently, we witnessed the largest change to our tax system in over three decades with the Tax Cuts and Jobs Act (TCJA). It will take us years to fully understand all the implications of these changes but, for now, it appears there are some immediate winners-real estate investors. Before I explain why, and offer some potential strategies to consider, please remember that real estate is an importan...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Copper: LME copper sees resistance and is expected to retrace further towards $7,000/mt. With weak spot demand and excess inventory, LME copper is expected to trade at $7,010-7,065/mt while SHFE 1803 is to trade at 53,100-53,650 yuan/mt. Spot discounts are to move at 150-100 yuan/mt today.Aluminium: We see LME aluminium trading at $2,200-2,230/mt to...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Copper: LME copper sees resistance and is expected to retrace further towards $7,000/mt. With weak spot demand and excess inventory, LME copper is expected to trade at $7,010-7,065/mt while SHFE 1803 is to trade at 53,100-53,650 yuan/mt. Spot discounts are to move at 150-100 yuan/mt today.Aluminium: We see LME aluminium trading at $2,200-2,230/mt to...Read More