The seaborne coking coal spot market weakened again on Wednesday April 3, and ample supply is expected to weigh on prices further.A cargo of a top Australian brand premium hard coking coal, which is scheduled for loading between end-April and early May, was traded at $200.11 per tonne cfr China, various sources told Fastmarkets during the day. The same brand changed hands at $201.66 per tonne cfr...Read More

Cross-border concerns about mineral exploration and logging in British Columbia, Canada's Skagit River watershed may put a long-simmering campaign to close a hole in the middle of two provincial parks back on the front burner.Imperial Metals (TSX:III) has applied to the provincial government for an exploration permit that, if granted, could see the company building an access road and drilling test...Read More

The European domestic price of mesh-quality wire rod remained flat week on week, while European imports prices held steady amid concerns regarding tariff-quota monitoring, market participants told Fastmarkets on Wednesday April 3.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was at ?,?535-550 ($599-616) per tonne delivered on Wednesday, unchanged week o...Read More

Democratic Republic of Congo's mining sector paid $1.57 billion in revenues to the government last year, up 91 percent on 2017, finance ministry data showed on Wednesday.Public revenues from the oil and gas sector fell by 19 percent in 2018 to $165.6 million, according to the data.Mining production in Congo, Africa's top copper producer and the world's leading miner of cobalt, a key component in e...Read More

Yet another foreign miner in the Democratic Republic of Congo is reviewing its future production plans after the government increased taxes and removed investor safeguards despite industry protests.MMG Ltd., the Chinese-owned copper producer, is considering whether to invest in more expensive methods of mining the metal when existing oxide resources are depleted. It's grappling with the same quand...Read More

Steel H-beam prices in Southern Europe went down over the past week due to weaker demand, higher stock levels and falling feedstock costs, sources told Fastmarkets on Wednesday March 27.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beams in the Southern European domestic market went down by ?,?5 per tonne on Wednesday to ?,?625-640 ($700-717) per tonne deliv...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday April 3 that are worth another look.The United States' non-ferrous scrap export market was mixed in January, with shipments of aluminium scrap rising while those of copper scrap fell slightly compared with the same month last year.In base metals, the estimated arbitrage for shipping aluminium from warehouses in Asia...Read More

The estimated arbitrage for shipping aluminium from warehouses in Asia to the United States narrowed in March following a large rise in US river barge prices and slightly softer aluminium premiums in the region. The cost to ship metal via barge from New Orleans up the Mississippi and Ohio rivers to Owensboro have increased around $5 per tonne to nearly $21.50 per tonne. "Spot barge rates are the s...Read More

Weak demand pushed European premiums down in the week ended Tuesday April 2 even though restored Indonesian supply is less than before; meanwhile, overseas firms sold aggressively into the United States bringing down the premiums there and China's tin market saw no change. European low-lead premium drops 10% week on week.  Bargain tin was available in Baltimore after US suppliers were underc...Read More

The US copper price rebounded during midweek trading on Wednesday April 3 with optimism of a resolution to the US-China trade conflict boosting the base metals complex. The copper price for May settlement on the Comex division of the New York Mercantile Exchange gained 2.30 cents to $2.9285 per lb. In macro news, progress following US-China trade talks held last Friday in Beijing continues to impr...Read More

Starting this Sunday, some 2,000 copper industry participants will gather in Santiago, Chile, for the annual Cesco Copper Week, looking into market dynamics and future development along the red metal supply chain. Fastmarkets has compiled a list of panels and events for the week. Please note that events are private receptions and admission is strictly by invitation only.Sunday April 71700-210...Read More

European zinc premiums were unchanged in the week to Tuesday April 2 with a widening backwardation muting buying interest, while in China, the lowering of the value-add tax did not boost the zinc premium there against market expectation. European markets quiet amid a widening backwardation. China's zinc market slow with limited impact from the 3 percentage point VAT cut on April 1. US l...Read More

Muted demand and a closed import window put downward pressure on the Shanghai cif premium for nickel cathode on Tuesday April 2, while the nickel briquette premium in the United States also slid on weak demand. China's trade mostly domestic, partly to avail of recent tax cuts Cathode cutting delays continue in US market European traders deterred by LME nickel contango Chinese cif premiu...Read More

RAPAPORT... Sales at Signet Jewelers fell last year as demand tailed off during a disappointing holiday season. Same-store sales - at branches open for a year - slipped0.1% for the fiscal year ending February 2, while total revenue also declined 0.1%to $6.25 billion, the company said Wednesday.Sales at Kay fell 0.4% to $2.42 billion, with Jared declining 4.3% to $1.14billion. Revenue at...Read More

Domestic prices for hollow steel sections in both Northern and Southern Europe moved down this week, with feedstock prices continuing to fall and an expected seasonal pickup in demand failing to arrive, sources told Fastmarkets on Wednesday April 3.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe went down by ?,?5-10 per tonne to...Read More

RAPAPORT... Dealers expressed optimism for the US diamond marketafter polished imports rose last year to their highest level since 2014.Shipments to the country jumped 8% to $23.3 billion in2018, according to the US Census Bureau, despite more modest growth in consumersales. That indicates the industry may be sending large quantities of goods tothe US in anticipation of future demand, traders...Read More

RAPAPORT... Jeremy Schwartz will leave his position as chief operatingofficer of Pandora after less than a year in the role, the jewelry retailersaid Tuesday. Schwartz joinedPandora in September, after its CEO, Anders Colding Friis, resigned. Since then, he hasbeen jointly managing the company with chief financial officer Anders Boyer. Alexander Lacik, whom Pandora hired as CEO in Februa...Read More

RAPAPORT... The US Federal Trade Commission (FTC) has sent letters toeight companies selling lab-grown or simulated diamonds, warning that theirmarketing violates the government's recently issued guidelines. In the letters, the FTC notes some of the companies'advertising may be deceptive to consumers, specifically in instances where themarketing implies a simulated diamond, such as cubic zirc...Read More

RAPAPORT... A rare oval diamond sold for nearly $14 million at Sotheby'sin Hong Kong Tuesday, beating its high estimate. The oval brilliant-cut, 88.22-carat, D-color, flawless, typeIIa stone is one of only three oval diamonds over 50 carats offered in auctionhistory, Sotheby's said. The hammer went down on it at $13.8 million, or $156,150 per carat, at theMagnificent Jewels and Jadeite sale....Read More

Vancouver-based Arctic Star Exploration has begun exploration at its 100% owned Timantti project in the northern part of Canada near the township of Kuusamo. The company has already located three diamondiferous bodies - White, Black and Grey Wolf - and three kimberlite dykes.Arctic Star says there is "considerable evidence" that there are additional kimberlites on its property. Indicator minerals...Read More