The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More

Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More

Domestic prices for hot-rolled coil in Northern Europe increased in the week to Friday July 9, supported by continuing supply tightness.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,162.92 ($1,380.68) per tonne on July 9, up by ?,?13.42 per tonne week on week and up by ?,?15.23 per tonne month on month.The index was based on achievable prices...Read More

The markets for different grades of manganese ore are diverging rapidly, with low grade prices under sustained pressure from heavy stocks at ports, sources told Fastmarkets.Miners dropped their offers for 37% manganese while many buyers gave low counter bids based on portside prices.Fastmarkets calculated the manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China at 34.30 yuan ($5...Read More

The waiting time to deliver out aluminium at Istim's London Metal Exchange-registered warehouses in Port Klang, Malaysia, was 168 days at the end of June, according to the LME's latest queue report.The queue has been declining very slowly over the past few months, down from 176 days at the end of May and 199 days at the end of April. The queue has been in place since a series of large cancell...Read More

RAPAPORT... De Beers has hiked rough-diamond prices for the fifth time in eight months as the market continues to surge amid strong demand and limited supply.This week's sale saw average increases of 4% to 5%, insiders told Rapaport News on Monday, the first day of the July sight. Rough weighing around 1 carat and larger saw rises of 5% or more, while smaller goods grew in price by approximat...Read More

RAPAPORT... The Indian jewelry trade has partnered with the World Gold Council (WGC) to promote the yellow metal in the domestic market, noting that interest in the product has waned among the country's younger consumers.The Gem & Jewellery Export Promotion Council (GJEPC) has signed an agreement with the global organization to fund a multimedia marketing campaign, the duo said in a joint...Read More

Zhongwang Aluminum Industry Company plans to re-activate 200,000 tonnes per year of aluminum production in October, sources told Fastmarkets on Monday July 12.Zhongwang is located in the Liaoning province in Northern China and is a subsidy of China Zhongwang Holdings Ltd., The company currently has a working capacity of 430,000...Read More

RAPAPORT... Christie's garnered $8.2 million from its Paris Jewels sale, with a necklace by Jean Fouquet setting a world auction record for a piece by the designer.Created in 1925, the necklace is set with a cut-cornered rectangular aquamarine weighing between 85 and 90 carats. The Art Deco jewel sold for EUR 980,000 ($1.2 million), smashing its EUR 450,000 ($534,474) upper estimate at the auction...Read More

Base metals futures prices on the London Metal Exchange were mostly lower during morning trading on Monday July 12 compared with their Friday closing prices, with the exception of tin.Nickel's three-month price was down 1% on Monday at 9am from Friday's close at $18,747 per tonne. The stainless steel additive reached as high as $18,830 per tonne, however, its highest level since March 1.Three-mont...Read More

China's nickel pig iron (NPI) prices were unchanged last week amid a softening of stainless steel prices and thinner trading, though those for nickel ore still increased because of tight supply.Fastmarkets' price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,225-1,250 yuan ($189-193) per nickel unit last Friday July 9, the same as a week earlier, but up by 10...Read More

(IDEX Online) - Alrosa reported its second-highest monthly sales of rough and polished diamonds in June, as demand for rough stones remained strong.But the Russian state-owned miner warned that the rough market was entering "a long period of supply deficit" as demand remained high, rough diamond stocks at the Indian mid-stream segment were low and miners' rough stocks hit a rock bottom levels...Read More

(IDEX Online) - Desperate Indians are selling their gold jewelry as the pandemic pushes them further into poverty.Many take out doorstep gold loans in the hope they'll find a way to repay, but increasing numbers are defaulting, and end up forfeiting their valuables.One of India's biggest gold loan companies, Manappuram, which has over 4,000 branches, says it auctioned $54m of customers&#...Read More

(IDEX Online) - A jewelry store owner accused of defrauding US watch customers and businesses out of millions of dollars has been arrested. Santiago Mora was apprehended by FBI agents in Miami, Florida.  He was reportedly on the run from Katy, Texas, where he ran ALKU Jewels, although he texted a local TV station to say he was "just finalizing finances".Mora is accused of taking payments...Read More

Hot-rolled coil prices in the United States climbed above $90 per hundredweight ($1,800 per short ton) for the second time, with market participants projecting that the rally could gain momentum.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $90.31 per hundredweight ($1,806.20 per short ton) on Monday July 12, up 1.40% from $89.06 per cwt on Friday July 9. There was...Read More

Prices for carbon steel plate in the United States were sideways for the third week in a row, with market participants predicting it will remain flat or rise soon.Fastmarkets' weekly assessment for steel cut-to-length plate carbon grade, fob mill US was at $75 per hundredweight ($1,500 per short ton) on Friday July 9, unchanged since June 25 but nearly triple $26 per cwt at the same time last year...Read More

A group of Brazilian construction and real estate companies received a 20,000-tonne shipment of rebar from Turkey last week, national construction industry chamber CBIC said.The chamber has gathered 137 companies in Brazil that were interested in importing rebar, and the material was booked in late February, CBIC said on Friday July 9.A second 20,000-tonne shipment booked by the same group wi...Read More

The state of Odisha has announced its intention to become India's key steelmaking hub after approving several projects that will almost double the steel production capacity of the region.The chief minister of Odisha state, Naveen Patnaik, announced last week that he had given high-level clearance to five major industrial projects that would invest 1.46 trillion rupees ($19.6 billion) into the regi...Read More

While more upside awaits finished steel prices, the United States' domestic ferrous scrap market might have plateaued or reached its 2021 peak, buyers and sellers told Fastmarkets.At the same time, there are a host of positive aspects that suggest the market will remain strong, even if upside might be limited.The July market was like a Kentucky Derby horse race, with commentators spending hours di...Read More

The United States' pig iron import market was calm during the week to Friday July 9, although market sentiment turned negative mainly on moderate demand and low offers from India. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $650-655 per tonne on Friday, unchanged week on week."Demand is really moderate, buyers are booked and some buyers are secured with shipments...Read More