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
Domestic transaction prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 16 due to a shortage of material in the market, sources told Fastmarkets.But the number of transactions and volumes were reported to be limited due to buyers' concern that the price rise is unlikely to be sustainable for long.Fastmarkets calculated its daily steel hot-rolled coil...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 16.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More
The London Metal Exchange tin price was the biggest riser on Wednesday December 16, coming close to the $20,000 per tonne mark and setting a new year-to-date high, spurring most of the complex along with it while market participants eyed a congressional deal for a coronavirus stimulus package in the United States. Tin's three-month price rose by 1.1% to $19,925 per tonne on Wednesday at 5pm agains...Read More
LMEpassport, a new digital register for physical metals data, is to be rolled out by the London Metal Exchange in 2021, starting with aluminium and gradually phasing in other metals over the next three years.The digital register - part of a sustainability package that includes a spot trading platform and new contracts - is designed to provide a centralized transparency source, the data from which...Read More
Seaborne iron ore prices rose on Wednesday December 16 after the most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) crossed the 1,000 yuan-mark ($153) to close the afternoon trading session, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $156.45 per tonne, up $1.38 per tonne62% Fe low-alumina fines, cfr Qingdao: $156.71 per tonne, up...Read More
This is EXACTLY what silver tends to do right before SIGNIFICANT declines...by Przemyslaw Radomski via Sunshine ProfitsIt's tempting to ride the silver rollercoaster. After-all, gold's volatile little brother is just that - volatile. Its wilder price swings make some of the investment public believe they can profit from it more quickly. However, it's important to remember and take note of the fact...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US flat product prices maintained momentum through November, with increases accelerating in early December in response to supply shortfalls, rising scrap prices, and improving demand.While we correctly forecast further pricing gains in November, actual prices surpasse...Read More
Turkish deep-sea scrap import prices continued to climb on Wednesday December 16, with fresh bookings heard from Europe and the Baltic Sea regions, sources told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $435 per tonne and bonus at $445 per tonne cfr. The cargo composition could not be verified at the time of publication.Another steel...Read More
RAPAPORT... Grib Diamonds registered sales of $35 million at its final tender of the year as rough prices rose amid robust demand for larger goods.Prices at the December 11 sale increased around 5% compared with the company's previous tender on October 25, Grib head of sales Antony Dear told Rapaport News Wednesday. A total of 450,000 carats sold, with rough weighing 2 carats and higher most...Read More
RAPAPORT... Phillips garnered $27.6 million from its flagship New York watch auction, led by Paul Newman's Rolex "Big Red" Daytona, which sold for $5.5 million.The price for the timepiece, purchased by an anonymous private collector, is the third-highest ever paid for a Rolex watch at auction, Phillips said last week. The December 12 auction, named Racing Pulse, also saw a record price for any Tag...Read More
RAPAPORT... This year could tie as the busiest on record for US retail imports, as consumer demand during the holiday shopping period led to a surge in shipments, the National Retail Federation (NRF) said.Imports for the full year are expected to reach 21.8 million twenty-foot equivalent units (TEU), up 1% over 2019, despite predictions as recently as last month that 2020 would see a 3% decrease,...Read More
RAPAPORT... The Jewelers Vigilance Committee (JVC) will present Jewelers' Security Alliance (JSA) president John J. Kennedy with the 2021 Stanley Schechter Award.The accolade, which was established in 2002, recognizes industry leaders who have raised the jewelry community's reputation through their dedication, ethics and integrity. Kennedy is a former assistant commissioner and deputy general coun...Read More
The London Metal Exchange tin price was the biggest riser on Wednesday December 16, coming close to the $20,000 per tonne mark and setting a new year-to-date high, spurring most of the complex along with it while market participants eyed a congressional deal for a coronavirus stimulus package in the United States. Tin's three-month price rose by 1.1% to $19,925 per tonne on Wednesday at 5pm agains...Read More
(IDEX Online) - Antwerp's export of rough and polished diamonds fell again in November after both hitting a 2020 peak in September.Rough exports were $725m, down from $957m in October. Year-on-year this was a marked decline, down almost 15 per cent, after a sharp rise of 75 per cent last month.Polished exports fell by nine per cent in November to $612m, according to newly-released figures fro...Read More
(IDEX Online) - De Beers reportedly increased rough prices by up to three per cent at its last Sight of the year in the firmest indication so far that demand is recovering from the pandemic.Insiders say it's the first time since COVID-19 that De Beers has put prices up, after offering discounts and unprecedented flexibilities to Sight holders since August.Yields from the 10th Sight of the yea...Read More
(IDEX Online) - Lucapa has announced the recovery of an exceptional 101-carat diamond at its Mothae mine, in Lesotho.The Type IIa stone has been measured as D color and is the fourth +100 carat diamond recovered from the southern lobe of the mine's kimberlite pipe since operations started in January 2019.The Australian miner, which partners with the Lesotho government, said it looked forward...Read More
The lead and zinc scrap markets in the United States remained strong heading into the final weeks of 2020 while increased demand for scrap from foreign buyers as well as demand for new, replacement car batteries kept market sentiment firm."New battery demand is still heavy and expected to continue until March with a harsh winter forecast," one consumer said. "A lot has changed in a short period. E...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The London-headquartered miner said it would achieve sustainable production from its first underground mining panel - known as "Panel 0" - by October 2022, with the project's development capital -Read More
A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger technology. The venture - a collaboration between the World Economic Forum and seven global companies that make up its Mining and Metals Blockchain Initiative (MMBI) - aims t...Read More