Bullish sentiment returned to the London Metal Exchange during afternoon trading on Wednesday February 24, with nickel up by 1.8%, aluminium setting a new 2021 high, and most metals closing higher than on Tuesday following a limited period of selling and consolidation after new 2021 highs.Nickel's three-month price showed the biggest rise on Wednesday at 5pm, to $19,709 per tonne, after closing be...Read More

Seaborne low-volatility pulverized coal injection (PCI) prices in both the fob and cfr markets increased on Wednesday February 24 following the latest trade and growing buying interest in the cfr market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $138.93 per tonne, up $0.15 per tonnePremium hard coking coal, cfr Jingtang: $219.04 per tonne, down $1.24 per tonneHard coking...Read More

The likelihood of a "COMEX collapse" in March is extremely low. If you are going around hanging your hopes on this one-time event occurring within... by Craig Hemke via Sprott Money NewsAs is often the case, there is a lot of hype regarding the impact the #SilverSqueeze movement might have on the delivery process at COMEX in March. The purpose of this post is not to discourage you, but instead br...Read More

We know that price discovery is impossible until the paper exchanges in NYC and London blow up. Or is it?by Dave Kranzler of Investment Research DynamicsWe know that price discovery is impossible until the paper exchanges in NYC and London blow up. Or is it?There's plenty of above-ground silver around the world. Yes most of it is "spoken for" by the owners of that silver. Silver producers can't p...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 24.Please click...Read More

RAPAPORT... US polished-diamond imports fell 39% to $11.82 billion last year, reflecting heavy declines in the second quarter, according to data from the US Commerce Department. The slowdown eased in the latter part of the year, with December shipments slipping by just 2% year on year.US Trade Data for December and FY 2020  Read More

RAPAPORT... Alrosa raised prices at its contract sale last week as the rough market continued to recover following the coronavirus-related slowdown.The increases for the February trading session were around 3% to 4% on average, with sharper rises in some categories, insiders told Rapaport News this week. Since August, the Russian miner has given customers a non-itemized invoice, making it har...Read More

Domestic prices for steel heavy plate decreased in Italy over the week to Wednesday February 24 due to poor demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?630-640 ($766-778) per tonne on February 24, down by ?,?10 per tonne week on week from ?,?640-650 per tonne.The assessment was based on offers and deals he...Read More

RAPAPORT... Lucapa Diamond Company recovered a 215-carat rough from its Mothae mine in Lesotho, the largest high-quality stone it has found at the deposit.The D-color, white, type IIa diamond is the second stone over 200 carats the miner has unearthed since it began commercial operations at the site in 2019, it said Wednesday. The other, a 220-carat, low-quality stone, was discovered in November 2...Read More

RAPAPORT... Jewelry was one of the best-performing categories at Macy's during the fourth fiscal quarter, even as overall sales faltered at the department-store chain.Group revenue dropped 19% year on year to $6.78 billion in the three months ending January 30, while comparable-store sales - at owned and licensed shops open for at least a year - fell 17%, the retailer reported Tuesday. However, ta...Read More

(IDEX Online) - GIA has reported new instances of gems being submitted for grading with fraudulent inscriptions.The diamonds were either lab-grown or treated naturals but bore inscriptions on their girdles relating to natural or untreated stones.Last month its Johannesburg lab identified three cases of synthetic moissanite being passed off as diamonds, all bearing fake inscriptions.In the more rec...Read More

(IDEX Online) - De Beers has reportedly increased prices for the third Sight in a row, as demand for rough keeps getting stronger.The UK-based miner doesn't comment on prices but insiders say they're up four per cent, especially among stones over one-carat, at the Sight in Gabarone, Botswana, that concludes on Friday.Prices were reportedly up by five per cent last month, when De Beers so...Read More

(IDEX Online) - Lucara reported a fall in revenue and per-carat prices during the pandemic as it held back the large stones (+10.8-cts) that usually represent 70 per cent of its sales. They'll start selling them next month.But the Canadian miner said it was looking forward to increased demand and the $514m extension of its Karowe mine, in Botswana.It reported a net loss for the year to 31 Dec...Read More

RAPAPORT... Boaz Moldawsky has been elected president of the Israel Diamond Exchange (IDE) for a three-year term, succeeding Yoram Dvash.Moldawsky, who has previously served as vice president of the IDE, won after two rounds of voting, the IDE said Sunday. The co-CEO of the Moldawsky Group, a diamond-manufacturing and trading company, has also been chairman of the Israel Diamond Institute (IDI). A...Read More

Bullish sentiment returned to the London Metal Exchange during afternoon trading on Wednesday February 24, with nickel up by 1.8%, aluminium setting a new 2021 high, and most metals closing higher than on Tuesday following a limited period of selling and consolidation after new 2021 highs.Nickel's three-month price showed the biggest rise on Wednesday at 5pm, to $19,709 per tonne, after closing be...Read More

Nickel futures prices in London rose on Wednesday February 24 after the world's top producer, Norilsk Nickel, announced it had suspended production at two of its mines: Oktyabrsky and Taimyrsky. The London Metal Exchange three-month nickel price was recently trading at $19,660 per tonne, 1.5% higher than at the 5pm close on Tuesday February 23.The price has rallied significantly in February, curre...Read More

Tight supply of lead ingots resulted in an increase in lead premiums in the United States in the week to Tuesday February 23, taking them close to 2013 levels, while zinc premiums remained stable across the world.Lead's three-month contract price on the London Metal Exchange reached $2,185 per tonne on February 22, the highest since October 31, 2019.Zinc premiums were unchanged in China and Europe...Read More

Copper cathode premiums rose in Europe in the week to Tuesday February 23 due to rebounding demand from end users and economies beginning to recover from winter pandemic lockdowns. Elsewhere the markets were quieter, with consumers waiting until the last minute to buy spot cathode given soaring London Metal Exchange copper prices. The exchange's three-month contract hit a 10-year high of $9,342 pe...Read More

Premiums for nickel plate and briquette in China were flat in the week to Tuesday February 23 amid a lack of spot activity, but the nickel sulfate price in the country rose to a fresh all-time high, with a robust domestic electric vehicle (EV) market providing support.Premiums in Europe were also unchanged this past week, as were those for briquette in the United States, but US cut cathode premium...Read More

Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said on Wednesday February 24.The CEO estimates that the domestic rebar premium over imports reached 15% in February, and that the premium for domestic hot-rolled coil climbed to 11%. There is still cost...Read More