Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Prices for imported rebar in Singapore might come under downward pressure from new restrictions being imposed in the country amid a spike in Covid-19 infections, sources told Fastmarkets last week.The resurfacing of Covid-19 cases at dormitories for foreign workers in Singapore has led to the issuance of quarantine orders, as well as travel restrictions on those arriving from India."This does not...Read More
Ferrous prices in Asia are rising at a steady pace and look likely to surpass 2008's high levels as early as next month, industry sources told Fastmarkets this week.Coking coal and cokeSupply tightness in both the domestic and import markets for high-quality, low-sulfur hard coking coal should continue to support prices in May, sources said.Since the start of April, domestic supply shortages have...Read More
Cobre Panama, the copper industry's most recent major greenfield project, reported record production in the first quarter after it put disruptions related to the Covid-19 pandemic behind it, First Quantum Minerals said. The mine in Colon Province, 120km west of Panama City, achieved copper output of 82,042 tonnes in the three months ended March 31, an increase of 46% from the year-earlier period....Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 27 that are worth another look.Brazilian iron ore producer Vale expected to see higher premiums for iron ore pellet in the third quarter of this year, after steep increases were applied in both the first and second...Read More
A summary of base metals premiums from across the globe for the week to Tuesday April 27.Please click...Read More
Chinese importers have been competing for the best-quality copper scrap, citing concerns over future rises in the procurement cost of raw materials while the price rally continues, Fastmarkets has learnt.Suppliers of top-grade copper scrap in the Asia-Pacific region were selling candy and berry at thin discounts to the price of refined copper, as traded on the London Metal Exchange over the past m...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 27 that are worth another look.Brazilian iron ore producer Vale expected to see higher premiums for iron ore pellet in the third quarter of this year, after steep increases were applied in both the first and second...Read More
Ferrous prices in Asia are rising at a steady pace and look likely to surpass 2008's high levels as early as next month, industry sources told Fastmarkets this week.Coking coal and cokeSupply tightness in both the domestic and import markets for high-quality, low-sulfur hard coking coal should continue to support prices in May, sources said.Since the start of April, domestic supply shortages have...Read More
Chinese steel mills are likely to import more pig iron, hot-briquetted iron (HBI) and steel scrap to feed basic oxygen furnaces in 2021 due to the stringent restrictions imposed on blast furnaces in China, market participants told Fastmarkets recently.The China Iron & Steel Association (Cisa) is actively advocating more cuts to the country's pig iron production to achieve this year's goal of reduc...Read More
"The usual suspects don't want us to write this article."by Keith Weiner of Monetary-MetalsKeith wrote about the silver squeeze narrative originally here, then here, and again here. This article is his latest commentary. Some recent videos about the silver market are generating more buzz than we have seen in a while. They make several points, but the main one is that there is a global shortage...Read More
Chinese importers have been competing for the best-quality copper scrap, citing concerns over future rises in the procurement cost of raw materials while the price rally continues, Fastmarkets has learnt.Suppliers of top-grade copper scrap in the Asia-Pacific region were selling candy and berry at thin discounts to the price of refined copper, as traded on the London Metal Exchange over the past m...Read More
The price of nickel on the London Metal Exchange was some $40 per tonne short of the $17,000 per tonne mark at the close of trading on Tuesday April 27, while most other base metals' prices also finished higher day on day, boosted by a recent rise for copper.Nickel's three-month price was up by 1.8% to $16,963 per tonne on Tuesday, after rising by roughly $300 per tonne each day since last Thursda...Read More
Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, rose to a new record high on Tuesday April 27 with iron ore prices all going up further. The 62% Fe index has been above the previous high of $183.59 per tonne, set in January 2011, since April 20.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $195.31 per tonne, up by $1.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $196.35 pe...Read More
RAPAPORT... Firestone Diamonds observed positive pricing in its third fiscal quarter as the company depleted its rough stockpiles amid the continued closure of the Liqhobong mine in Lesotho.The miner sold the second of two inventory batches that it had been offering to customers as a test of the market's recovery. Some 19,942 carats of mainly smaller, run-of-mine goods fetched $900,000 at an avera...Read More
The price of nickel on the London Metal Exchange was some $40 per tonne short of the $17,000 per tonne mark at the close of trading on Tuesday April 27, while most other base metals' prices also finished higher day on day, boosted by a recent rise for copper.Nickel's three-month price was up by 1.8% to $16,963 per tonne on Tuesday, after rising by roughly $300 per tonne each day since last Thursda...Read More
RAPAPORT... Vivrelle, a club that provides its members with a shared closet of luxury goods, has raised $26 million to finance its multipronged expansion plans.The Series-A venture-capital funding will help enlarge the company's product offering, amplify marketing initiatives, and scale up operations, Vivrelle said in a statement on Monday.The club, established in 2018 by newlyweds Blake and...Read More
RAPAPORT... The Diamond Club West Coast (DCWC), an affiliate of the World Federation of Diamond Bourses (WFDB), has reelected Moshe Salem as its president.Kalpesh Jhaveri and Antranig Ayvazian have been voted in as vice presidents of the Los Angeles-based trade group, which was founded in 1946 and has a membership of about 275 merchants. The DCWC selected Rahul Parikh as treasurer and Vatche...Read More
Fastmarkets' daily indices for domestic hot-rolled coil inched further up on Tuesday April 27 due to the continuing shortage in Europe combined with strong demand, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?973.33 ($1,176.99) per tonne on April 27, up by ?,?2.08 per tonne from ?,?971.25 per tonne on Monday.The in...Read More
(IDEX Online) - The Istanbul Jewelry Show (IJS) has been postponed for a fourth time because of the coronavirus pandemic.It was originally scheduled to take place in March 2020, but has now been re-arranged for March 2022.Organizers said in a statement that the safety and success of their colleagues, partners, customers, and exhibitors was their top priority, and the reason they had again postpone...Read More
(IDEX Online) - An unrivalled collection of 19 pieces by the German jewelers Hemmerle fetched $1.4m, almost double the pre-sale estimate, at Sotheby's New York.The single most expensive lot was a pair of copper and diamond ear studs (see pic), featuring two old European-cut diamonds of 8.81carats and 8.80 carats. They sold for $201,600, surpassing their $100,000 to $150,000 estimate.The piece...Read More