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
Brazilian domestic rebar prices reached a new record high once again in early January, after steelmakers increased their offers by 12-12.5%, market participants told Fastmarkets.Sources reported persistent low availability from mills, long lead times and no room for discounts. Most suppliers, they said, were offering and selling at similar, higher prices.Fastmarkets' price assessment for ...Read More
(IDEX Online) - Tech firm Sarine says its digital tender solutions, already adopted by Alrosa and Lucara, are now being used by Stargems as well.The coronavirus pandemic has proved to be a catalyst to rough sellers trading with remote buyers.Israel-based Sarine says Stargems is now using its systems to map external internal features and help determine the true value of the polished diamonds that c...Read More
(IDEX Online) - Lucapa's mine at Mothae, in Lesotho, achieved its highest ever per-carat price in a sale earlier this month.The Australian miner sold a parcel of 4,676 carats of rough diamonds for a total of $5.6m, averaging $1,198 per carat.The sale included a Type IIa 101-carat D-color diamond announced last month and a number of other specials over 10.8 carats.Lucapa Diamond Company Limite...Read More
(IDEX Online) - India's only industrial diamond has resumed operations, days after work was halted because of environmental concerns.Mining at the Majhgawan mine (pictured), near the town of Panna, in Madhya Pradesh, has been stopped several times over the last 50 years because of concerns by the National Wildlife Board.The mine, estimated to have reserves of 34m carats, is close to the Panna...Read More
Canada Nickel Co has signed a non-binding Memorandum of Understanding (MoU) with Glencore Canada to examine the potential treatment and processing of future nickel and cobalt production from Glencore's Kidd concentrator and metallurgical site in Timmins, Ontario.Canada Nickel, which is developing nickel-cobalt projects to deliver metals for the electric vehicles and stainless steel markets, comple...Read More
Copper and nickel's forward prices shed more than 3% on Monday January 11, in a second day of declines in the base metals complex on the London Metal Exchange, following a sharp increase in the United States dollar index and concerns over a resurgence of Covid-19 cases in China. Copper's three-month price closed at $7,864 per tonne at 5pm, a 3.3% decrease from Friday's closing price of $8,131 per...Read More
Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 20 days at the end of December, according to the London Metal Exchange's latest queue report.This is down from 30 days at the end of November and 71 days at the end of October.There was a queue for aluminium at Istim warehouses in Port Klang every month in 2020.The queues originally built up due a series of...Read More
The London Metal Exchange's average daily volume (ADV) of trades declined across all base metals in December 2020 despite price rallies, according to latest LME data. Copper's ADV had the smallest decline but was still down 11.9% year on year at 119,141 lots. This came in spite of the average official three-month copper price increasing by 9.8% in December month on month to an average of $7,7...Read More
Neo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesDecade of performance: Pitram delivers diamond standard for Argyle diamond mineSPONSOREDmicromineTeething issues with the transition to a new pit at the company's Gibraltar mine in British Colu...Read More
The Chinese nickel sulfate market marked a strong start to 2021, with the price climbing above its previous 2020 high amid good demand and limited supply, sources told Fastmarkets. Fastmarkets assessed the price of nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China at 31,000-31,500 yuan ($4,786-4,864) per tonne on Friday January 8, a level last reached on October 11, 2019, up by 500-1,...Read More
Nickel's forward price was the most affected by a rising United States dollar index in morning trading on the London Metal Exchange on Monday January 11, with the rest of the base metals complex also registering price falls following a bullish first week of 2021. Nickel's three-month price lost 1.65% to trade at $17,375 per tonne at 9am on Monday, compared with Friday's 5pm closing price of $17,66...Read More
Hot-rolled coil prices in the United States resumed their historic climb on Monday January 11 after inching lower on Friday January 8. Fastmarkets' daily steel hot-rolled coil index was calculated at $54.49 per hundredweight ($1,089.80 per short ton) on Monday, up by 4.57% from $52.11 per cwt on Friday and 5.38% higher than $51.71 per cwt one week earlier. Inputs were received in a wide range of $...Read More
Ford Motor Co announced that it will cease manufacturing activities in Brazil following "years of significant losses" and idle capacity exacerbated by the Covid-19 pandemic.The automaker said on Monday January 11 that it will stop operating three plants in the country - one in Ca??amari city, in northeastern Bahia state; one in Taubat?(C) city, in southeastern S??o Paulo state; and a third one in...Read More
The prospects for the global long-steel market for the first quarter of 2021 remained rather optimistic, with upward momentum in pricing expected to continue, supported by short supply, although the outlook for the second quarter was unclear, the International Rebar Producers & Exporters Association (Irepas) said last week.Overall, regional markets across the globe performed well in the fourth qua...Read More
Domestic prices for hot-rolled coil in Northern Europe jumped day on day on Monday January 11 following an offer rise announcement from ArcelorMittal last Friday, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?688.00 ($840.40) per tonne on Monday January 11, up by ?,?20.50 per tonne from ?,?667.50 per tonne on Friday....Read More
Base metals prices were for the most part weaker during morning trading on Monday January 11, while the dollar was firmer in line with strong US treasury yields.Asian-Pacific equities were mixed, while pre-market major western equity index futures were weakerBase metalsThree-month base metals prices on the London Metal Exchange were for the most part weaker this morning, the exceptions were lead (...Read More
Biogen (BIIB), a NASDAQ 100 stock moved above $254.00 and $254.41 completing a base building pattern.Lockheed Martin (LMT), an S&P 100 stock moved below $334.78 setting an intermediate downtrend. Pre-opening Comments for Monday January 11thU.S. equity index futures were lower this morning. S&P 500 futures were down 27 points in pre-opening trade. The U.S. Dollar moved higher in overn...Read More
Brazil's export volumes of ferrous scrap continued to fall in December 2020 on increased efforts to supply the domestic market, a trend that had gained traction throughout the second half of the year.Data from the country's Ministry of Economy showed that scrap exports totaled 16,104 tonnes in December, a significant 75.1% year-on-year drop from 64,747 tonnes. Volumes were also down by 46.6% from...Read More
Turkish steel mills have continued to book deep-sea scrap cargoes from various locations at firm prices, sources told Fastmarkets on Monday January 11.A steel mill in the Iskenderun region booked a United States-origin cargo comprising HMS 1&2 (90:10) at $485 per tonne, and bonus and shredded at $492 per tonne cfr. A steel mill in the Marmara region booked a European cargo of HMS 1&2 (80:20) at $4...Read More
Turkish auto bundle scrap prices have gone down slightly over the past week in line with the strengthening of the country's lira against the US dollar, market sources said on Monday January 11.Domestic prices for long steel products and, therefore, auto bundle scrap in Turkey typically decrease in line with the stronger lira because mills buy most of their raw materials in dollars and sell their f...Read More