Swedish state-owned iron-ore producer LKAB plans to reopen its iron ore mine in Lapland, Sweden, to meet the increased demand for iron ore products, Fastmarkets heard on Tuesday February 16.LKAB plans to reopen the Mertainen mine, which was mothballed in 2016 amid a change in the market situation, in the autumn 2021, the company said. The primary goal of the mine's reopening is to meet the increas...Read More

Attention in the metals markets shifted this week fromsilver to copper and platinum. While big moves in silver and gold prices maybe coming down the road, the monetary metals are currently taking a back seatto electrical and automotive metals.A massive push by the Biden administration to replacegasoline vehicles with electric vehicles is helping to crank up demand forcopper. Anything involving ele...Read More

A fire has interrupted operations at ArcelorMittal Gijon's rail mill in Spain, the company told Fastmarkets on Tuesday February 16. The short-lived fire broke out at one of the rolling stands at Gijon's steelworks rail mill, located in Asturias, Spain, on Saturday, prompting the company to issue a stop-work...Read More

Here are five Fastmarkets stories you might have missed on Tuesday February 16 that are worth another look.With long-serving chief executive officer Ivan Glasenberg departing on a trade-fueled high, Glencore looks likely to continue along a familiar path while also tackling one of its biggest...Read More

Hot-rolled coil prices in the United States achieved a new record high, after mills were able to collect top dollar for what little spot material they have available before May. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $60.08 per hundredweight ($1,201.60 per short ton) on Tuesday February 16, an increase of 2.40% from $58.67 per cwt on Friday February 12, and u...Read More

Ford Motor Co is the first United States-based automaker to join the Initiative for Responsible Mining Assurance (IRMA), with plans to increasingly rely on mined minerals while it expands its investment in the electrification of its fleet, the company said on Monday February 15.The IRMA provides objective, third-party verification of industrial-scale mines, covering the full range of issues relate...Read More

A summary of base metals premiums from across the globe for the week to Tuesday February 16.Please click...Read More

Here are five Fastmarkets stories you might have missed on Tuesday February 16 that are worth another look.With long-serving chief executive officer Ivan Glasenberg departing on a trade-fueled high, Glencore looks likely to continue along a familiar path while also tackling one of its biggest...Read More

A slight rebound in the US Dollar Index failed to stop rises in the prices for nickel (up by 1% at 5pm), aluminium and copper, but it triggered a slight decrease for the other half of the London Metal Exchange base-metals complex.Nickel's three-month price reached a new year-to-date high of $18,840 per tonne during afternoon trading on the LME on Tuesday February 16, and it was $18,814 per tonne a...Read More

With China still on holiday, base metals prices on the London Metal Exchange have been consolidating this morning, Tuesday February 16, even though broader markets remain upbeat. Optimism remains high while the market focuses on vaccine-enabled and stimulus-driven recoveriesWhile complacency is a risk, the pent-up enthusiasm from a year of Covid-19 may last a long timeBHP raises its outlook, citin...Read More

WHAT ON EARTH IS GOING ON???by Harvey Organ of Harvey Organ BlogFEB 12/GOLD DOWN $3.40 TO $1823.40//SILVER UP 31 CENTS TO $27.31//HUGE ADVANCE IN GOLD TONNAGE STANDING AT THE COMEX AT 107 TONNES WITH SILVER AT CLOSE TO 11 MILLION OZ//CORONAVIRUS UPDATE//CDC UPDATE SCHOOLS TO OPEN AS SOON AS POSSIBLE//ISRAEL VS USA: ALREADY A FROSTY RELATIONSHIP///PUTIN PUTS THE KOBASH ON KLAUS SCHWABS RESET RUNING...Read More

Talk about changing the rules or moving the goalposts!by Jason Burack of Wall St For Main StThe Gold Anti-Trust Action Committee (GATA) found out on Sunday night that the SLV recently changed their prospectus (again) on February 8th without telling anyone about the changes.Talk about changing the rules or moving the goalposts!FULL SHOW NOTES AND LINKS HERECommit to tipping us monthly for our hard...Read More

An overview of the chrome ore and alloy markets on Tuesday February 16 and their latest price moves.EuropeReduced availability of supplies continued to support ferro-chrome prices, with strong demand from Asia having diverted material away from Europe. Consumers needing material have had to accept higher offer...Read More

After reviewing the initial feedback on its proposal to launch a weekly price assessment for ferro-niobium, delivered consumer works Europe, duty paid, Fastmarkets MB is extending the consultation period by two weeks.The original consultation period was due to end on Thursday February 25, 2021, and responses so far have confirmed an appetite for a third-party price assessment for ferro-niobium. Th...Read More

A summary of Glencore's preliminary financial results for the year ended December 2020, according to a company report published on Tuesday February 16.In briefGlencore reinstated its dividend to shareholders after a record year in commodities trading.Calls with analysts and media introduced Gary Nagle as the company's next chief executive officer, to take office after incumbent Ivan Glasenberg ret...Read More

A slight rebound in the US Dollar Index failed to stop rises in the prices for nickel (up by 1% at 5pm), aluminium and copper, but it triggered a slight decrease for the other half of the London Metal Exchange base-metals complex.Nickel's three-month price reached a new year-to-date high of $18,840 per tonne during afternoon trading on the LME on Tuesday February 16, and it was $18,814 per tonne a...Read More

RAPAPORT... Diamond miners reported steady sales at their January rough tenders as demand and prices grew at the start of the year.Alrosa garnered $10 million at a sale of stones above 10.8 carats, which it held in Dubai from January 19 to February 9. Some 39 companies - from Belgium, India, Israel, the United Arab Emirates (UAE) and the US - made purchases, the Russian miner said Monday."Dem...Read More

RAPAPORT... Petra Diamonds reported a profit in the six months ending December 31 thanks to a stronger South African rand and lower costs.The miner, which is in the midst of a capital restructuring, posted a profit of $2.7 million for its fiscal first half compared to a loss of $10.2 million for the same period the year before. The appreciation of the South African currency against the US dol...Read More

Rio Tinto and Hydro have announced intentions to close the Aluchemie anode plant in Rotterdam, Netherlands after a strategic review. Production at Aluchemie is expected to finish at the end of 2021. The plant produces 216,000 tonnes per year of anodes, having previously discontinued operations at four of its seven anode baking furnaces. Anodes are high-grade blocks of carbon used in aluminium smel...Read More

RAPAPORT... Prices of fancy-color diamonds slipped marginally in the fourth quarter of 2020 as stability in the yellow category helped the sector stave off a heavier slump, according to the Fancy Color Research Foundation (FCRF)."Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy-color diamond prices proved to be resilient, with minor price decre...Read More