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 latest forecasts from Fastmarkets' team of analysts are ready to view.Key ferro-alloy forecast highlights for the coming months:?EUR? A strong recovery in both bulk and noble alloys is expected in 2021 but the markets are unlikely to return to the levels seen before the outbreak of the Covid-19 pandemic. We have seen a quicker-than-expected recovery across various regions amid the economic fal...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While much commentary has been written about Asian economies performing far better than those elsewhere this year during the global Covid-19 pandemic, it is stainless steel markets in Europe and the United States that are ending the year in better shape than their Asian counterparts.We do not talk of demand levels or demand g...Read More
Domestic European prices for hot-dipped galvanized coil increased over the week to Wednesday December 2, due to a combination of low availability, good demand and higher feedstock prices, sources told Fastmarkets during the week.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?680-700 ($816-840) per tonne ex-works on December 2, up by ?,?20 per tonne from ?...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 2.Read More
RAPAPORT... Hong Kong customs officials seized 162 diamonds at a border with China last week, claiming the stones had been smuggled in a driver's trouser pocket.The goods had a market value of around HKD 6.4 million ($826,000), making it the largest diamond-smuggling case Hong Kong authorities had detected in the past three years, the Customs and Excise Department said in a statement Friday.O...Read More
RAPAPORT... The average spend over the five-day Thanksgiving weekend dropped 14% as consumers shied away from in-store shopping, according to a survey by the National Retail Federation (NRF) and Prosper Analytics.Shoppers spent an average of $312 on holiday-related purchases between Thanksgiving and Cyber Monday, compared to $362 for the same period last year, the NRF said Tuesday. However, t...Read More
RAPAPORT... The World Diamond Museum, a virtual exhibition, has published its first book on the history of the precious stone as part of an effort to invigorate passion for diamonds.The 432-page work, Diamonds Across Time, contains chapters on famous and important stones, the history of diamonds in specific countries, and colored diamonds. It was compiled and edited by Usha Balakrishnan, the...Read More
RAPAPORT... US consumers shelled out a record $10.8 billion on e-commerce purchases on Cyber Monday, which broke last year's record to become the largest online shopping day in US history, according to Adobe Analytics.Digital sales for the day increased 15% year on year compared with the $9.4 billion spent in 2019, Adobe said Tuesday. While the total figure is higher than any previously achieved,...Read More
Chilean copper mine production fell by 0.7% in October 2020, compared with the corresponding month in 2019, due to lower supply from Escondida and Collahuasi, national copper commission Cochilco said on Wednesday December 2.Mines in Chile produced 486,400 tonnes of copper content during October, down year-on-year from 490,000 tonnes. But output increased month-on-month by 1.4% from 479,900 tonnes...Read More
(IDEX Online) - Sales of jewelry, timepieces and other valuable gifts remain depressed in Hong Kong, despite a Covid lull during October.It was one of the worst-hit retail sectors, according to the country's Census and Statistics Department reported today. Cosmetics, tobacco and alcohol fared even less well.Year-on-year sales for the month were down 27 per cent, showing little sign of improve...Read More
The Kingdom of Saudi Arabia is making a huge push to further develop its mining sector and will hold an auction of several blocks next year, according to a government official. The move is part of the country's Vision 2030 programme, which aims to drive economic diversification away from oil and gas, with the kingdom identifying mining as the third pillar for the Saudi Arabian economy. The go...Read More
The London Metal Exchange nickel price fell by 1.7% at the 5pm close on Wednesday December 2, leading a broad-based dip in the complex, although prices remain around recent highs supported by a lower dollar index. The three-month nickel price closed at $16,000 per tonne on Wednesday, compared with Tuesday's 5pm closing price of $16,278 per tonne. The lowest price for the stainless steel additive...Read More
(IDEX Online) - Struggling Petra Diamonds has completed the sale of its exploration vehicle Sekaka.It's been bought by rivals Botswana Diamonds, which will benefit from the high-grade KX36 kimberlite pipe 260km north-west of Gaborone, in the Kalahari, as well as a fit-for-purpose kimberlite processing plant and an extensive diamond exploration database.Botswana Diamonds believes the database...Read More
Global miner Vale was expecting long-term growth in production from its nickel and copper operations, despite foreseeing lower volumes than were previously predicted, according to a document filed with Brazilian securities and exchange commission CVM.The Brazil-based company estimated that nickel output would average 200,000 tonnes per year in 2021-23, and 220,000 tpy in 2024-25. This showed lower...Read More
(IDEX Online) - The owner of an 18lb solid gold eagle encrusted with 763 diamonds has lost the latest round of court battle with insurers.Ron Shore, president of a company called Forgotten Treasures International, reported the treasure stolen during a robbery in British Columbia, Canada, in 2016 as he was placing it in the trunk of his car. He had it specially made as the prize in an internat...Read More
Treatment charges (TCs) paid for zinc concentrates fell to a 27-month low in November, continuing their downtrend while the market reacted to news that production would be stopped at Vedanta's Gamsberg mine in South Africa.A collapsed pit at the Gamsberg mine on November 17 buried 10 miners, with at least one confirmed fatality. The mine, which produces around 250,000 tonnes per year of zinc in co...Read More
London Metal Exchange base metals prices have stabilized at recent highs on the morning of Wednesday December 2, supported by a low dollar index and positive developments in Covid-19-related news. After six days of inclines, copper's three-month price opened at $7,666.50 per tonne on Wednesday, broadly flat from the 5pm close on Tuesday of $7,694.50 per tonne. The price did reach $7,723 per tonne...Read More
European producers of heavy steel plate have been looking for a domestic price rise despite the fact that supply has been exceeding demand, sources told Fastmarkets on Wednesday December 2.Official offers for domestic heavy plate from Italian re-rollers were heard at ?,?550 ($660) per tonne ex-works, and producers were expected to push offers further upward in their attempt to compensate for the r...Read More
Domestic cold-rolled coil prices in Europe increased in the week to Wednesday December 2 due to tight supply from local mills and higher feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?650-670 ($780-804) per tonne on December 2, up by ?,?10-20 per tonne week on week from ?,?640-650 per tonne.The assessment was base...Read More
Domestic prices for hot-rolled coil moved up again across Europe in the week to Wednesday December 2 due to a materials shortage in the market, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?565.77 ($678.69) per tonne on Wednesday December 2, up by ?,?2.02 per tonne from ?,?563.75 per tonne on December 1. The index wa...Read More