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
The silver miners' stocks have been grinding lower on balance since early August in a healthy correction. This necessary rebalancing is achieving its...by Adam Hamilton of Zeal LLCThe silver miners' stocks have been grinding lower on balance since early August in a healthy correction. This necessary rebalancing is achieving its mission of dampening enthusiasm, paving the way for this sector's...Read More
The London Metal Exchange has appointed a new head to its LME Clear platform after Richard Thornhill stepped down from the position, Fastmarkets understands.Marco Strimer was appointed as Chairman of the LME Clear Limited Board on Monday November 30 following Richard Thornhill's retirement after seven years at the role. Strimer has been a member of the LME Clear Board since December 2013 and...Read More
European ferro-titanium prices could hit multi-year highs in the coming weeks against strengthening demand from steelmakers and increasingly tight supplies of scrap, alloy suppliers in Europe told Fastmarkets. Delivered duty-paid prices in Europe will set a new annual peak if prices increase at all from the top end of the current range, and the market will equal a more than six-year high if prices...Read More
RAPAPORT... A pink-diamond necklace by designer Feng J was the top seller at Phillips's Hong Kong sale, leading the $9 million auction.The Jardin de Giverny, a diamond and gem-set necklace featuring a 19-carat, fancy-light-pink diamond center stone, sold for $2.6 million, the auction house said Monday. The piece, which can also be transformed into a ring and bracelet set, brought in just over its...Read More
RAPAPORT... US jewelry sales plunged 54% year on year on Black Friday as consumers stayed away from physical stores, according to shopping tracker RetailNext.Total footfall at brick-and-mortar stores decreased 48%, while in-store purchases across all categories slid 30%, RetailNext reported Saturday. The drop was also due to a lack of "doorbuster" sales, in which retailers offer large discounts on...Read More
RAPAPORT... De Beers has pledged to provide the origin and impact of all its diamonds by 2030 as part of a plethora of sustainability goals it has set out for the coming decade.By 2025, it will "scale" programs that help identify the provenance of De Beers-mined diamonds at retail, the company said Monday. By 2030, it will record most of its annual production - by value - on its Tracr blockch...Read More
(IDEX Online) - De Beers today unveiled a sustainability charter, with a dozen pledges, including gender parity and carbon neutrality.The miner and retailer announced its "Building Forever" goals to protect the natural world and improve people's lives over the next decade in its four producer countries - Botswana, Namibia, South Africa and Canada - and the 30-plus countries where its brands D...Read More
(IDEX Online) - A necklace with over 117 carats of emeralds and diamonds sold at auction for almost $7m.Edmond Chin, the Singapore-born jewelry designer, created the one-of-a-kind piece for the Geneva-based Maison Boghossian, and it was sold at Christie's Hong Kong - where he started his career working in the jewelry and jadeite department.It sold for $6.99m, a fraction below the...Read More
(IDEX Online) - Dozens of gold miners are feared dead following the collapse of a disused deposit in Zimbabwe.Efforts are still being made to rescue around 30 miners trapped underground at the Ram mine, Bindura, about 70km north of the capital Harare. Six men have so far emerged alive since the disaster on Wednesday.It follows two other mine collapses in the country in recent weeks.&nbs...Read More
RAPAPORT... A Colombian emerald and diamond necklace designed by Edmond Chin for Boghossian was the top seller at the Magnificent Jewels sale at Christie's in Hong Kong, fetching $7 million.The double rivi??re piece contains 28 cushion and octagonal-cut Muzo emeralds weighing a total of 117.60 carats, and 48.01 carats of oval and rectangular-cut, D- to F-color diamonds. It went for just under its...Read More
The first deal for the supply of aluminium to main Japanese ports (MJP) for the first quarter of 2021 has concluded at a premium of $125 per tonne cif MJP, multiple sources told Fastmarkets on Monday November 30. The deal was for 6,000-9,000 tonnes of aluminium ingot in total for January-March delivery, with 2,000-3,000 tonnes to be delivered each month, and is on top of the London Metal Exchange...Read More
The London Metal Exchange copper price rose by 1.8% in morning trading on Monday November 30, continuing the bullish trend from the previous week and boosted by positive Chinese economic data and a weak dollar index, but nickel was the laggard. Copper's three-month price, which last Friday leapt to numbers not seen since April 2013, rose to $7,636.50 per tonne at 9am with over 14,000 lots exchange...Read More
Base metals prices were mainly stronger this morning, Monday November 30, helped by strong Chinese manufacturing purchasing managers' index (PMI) data and a weaker dollar, but some of the metals are starting to look tired.Chinese manufacturing PMI climbed to 52.1 in November, up from 51.4 in OctoberChinese non-manufacturing PMI climbed to 56.41 in November, up from 56.2 in OctoberBase metals The t...Read More
The price of hot-rolled coil in the United States has reached its highest level in over two years, Fastmarkets has learned. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $39.83 per hundredweight ($796.60 per ton) on Monday November 30, up 2.1% from $39 per cwt on Wednesday November 25 and an increase of 2.7% from $38.80 per cwt one week earlier. Inputs were received...Read More
Brazilian steelmakers will raise the domestic price for long steel products such as rebar by an average of 12% in December, market participants have told Fastmarkets.This will make it the sixth consecutive month of higher prices in Brazil, because of the quick demand recovery from 2020 lows caused by the Covid-19 pandemic. Long steel producers increased prices by around 10% in November.Fastmarkets...Read More
Italian authorities will finalize their takeover of a share in flat steel producer ArcelorMittal Italia on December 10, trade unions Fiom-Cgil and Uilm said on Monday November 30."Negotiations are continuing between the Italian government and ArcelorMittal and a further 10 days are needed [before they] sign the final agreement, after a letter of intent [was] signed today," Fiom-Cgil said."Today wa...Read More
Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsDigbee talks the rebirth of independent investment researchSPONSOREDdigbee'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningAccording to the latest assessment, China's substantial infrastructure-focused government stimulus plan had s...Read More
The Brazilian steel sector expects to negotiate exemptions for its exports from the Section 232 measures imposed by the United States once President-Elect Joe Biden takes office next January, according to national steel association A??o Brasil."With the new administration [in the US], we expect to have some room to negotiate again the exemption of [Brazil-origin] steel products from the Section 23...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.If the Tsingshan deal - reported by Asia Times on Monday - goes ahead, Freeport subsidiary PT-FI would only have to expand its existing smelter at Gresik by 0.Read More
Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsDigbee talks the rebirth of independent investment researchSPONSOREDdigbee'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningOdey published a report last week in which it argued it did not believe Rio Tinto's US$4.4 billion project fi...Read More