Sellers in the United States hoped that the premium for nickel briquettes would rise further from a floor, while European nickel premiums held firm at new lower levels and Asia was quiet after holidays in the week to Tuesday October 13. US focus switches to next year's contracts China sees minimal trading after week-long national holidays Europe market steady amid volatile LME price. Minimal spot...Read More

Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More

The three-month price of nickel on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 14, with strong producer price index figures from the United States supporting steady buying in the afternoon.Lead futures, however, struggled to close above nearby support levels.Nickel's outright price on the LME closed at $15,341 per tonne on Wednesday afternoon,...Read More

Both the seaborne and futures prices for iron ore fell further on Wednesday October 14, with market sources putting the blame on weak sentiment resulting from high iron ore port inventories and low margins at steel mills in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.52 per tonne, down by $1.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.98 per tonne, down by $1.32 p...Read More

Seaborne hard coking coal and pulverized coal injection (PCI) prices declined on Wednesday October 14, following the recent slump in premium hard coking coal prices after China issued a verbal notice banning coal imports from Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.21 per tonne, down $0.83 per tonne Premium hard coking coal, cfr Jingtang: $134.98 per tonne,...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US domestic prices for hot-rolled coil (HRC) moved sharply higher in September, in line with our expectations, but the magnitude of the rise exceeded our predictions. Domestic HRC prices averaged $566 per ton in September, exceeding our $540 per ton forecast price.A c...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.In the iron ore market, supply issues including heavy rains at the start of the year, followed by staffing problems during the Covid-19 pandemic, have affected exports from Brazil. This has helped Australia gain a larger market share, but since June, Brazilian export volumes have returned to levels last seen before the...Read More

Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The coronavirus pandemic has had a massive impact on every part of the global economic system. In response, unprecedented stimulus measures have boosted many countries’ debt-to-GDP ratios to levels not seen since WWII. But even...Read More

RAPAPORT... Australian jeweler Michael Hill reported an improvement in same-store sales during the first fiscal quarter amid a rise in online shopping and an increased desire for branded jewelry.Same-store sales - at branches open more than a year - rose 7% to AUD 116.7 million ($83.7 million) during the three months ending September 27, the company said Tuesday. Group sales slipped 3.6% to AUD 11...Read More

RAPAPORT... De Beers has registered its highest sales total since January as rough demand improved ahead of the fourth-quarter holiday season.The company sold $467 million of rough during its September sales cycle, the eighth of the year - a 57% rise compared with the same period last year, it reported Wednesday. Sales rose 40% versus the seventh cycle.The miner reduced prices of smaller good...Read More

RAPAPORT... Jewelers for Children will distribute $475,000 to its charity partners this year, bringing its total donations to $57.3 million since the organization began in 1999."Serving as board chair through this very challenging year has truly shown me just how beloved Jewelers for Children is in our great industry," Debra Puzio, the chair of Jewelers for Children's board, said Tuesday. "Th...Read More

(IDEX Online) - A British jeweler is being sued over the loss of a $40,000 fancy yellow diamond that fell out of a ring he sold.Philip Lloyd Jewellers, in West Sussex, was accused of failing to secure the stone with reasonable care and skill during a court hearing on Tuesday.Insurance broker Mark Hare, 58, bought the gem as a Christmas gift for his then-girlfriend Olivia Claffey in 2017.She notice...Read More

(IDEX Online) - Indian jewelry chain Tanishq has withdrawn an advert depicting a Muslim-Hindu baby shower after a furious backlash on social media.         Critics claimed it glorified what Hindu extremists have labeled "love jihad" - the alleged campaign by Muslim men to seduce and convert Hindu women - and launched a vicious "trolling" campaign online.The 45-second was p...Read More

(IDEX Online) - De Beers today reported $467m sales from its September Sight, further fueling hopes of a sustained recovery from the global pandemic.The provisional figure for cycle 8 is a 36 per cent year-on-year increase compared with the same month last year.It also indicates a significant upwards trend overall as demand returns. By comparison, actual sales for Cycle 7 (August) were $334m; Cycl...Read More

Domestic prices for hot-dipped galvanized coil (HDG) in Europe increased in the week to Wednesday October 14, supported by reduced availability of the material in the spot market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?590-600 ($694-706) per tonne ex-works on October 14, up by ?,?5-10 per tonne from ?,?580-595 per tonne ex...Read More

Iranian export prices for steel billet increased slightly in the week to Wednesday October 14, with traders accepting higher prices in the latest round of bookings.Last week, most Iranian producers finally returned to the market, placing fresh tenders for cargoes to be shipped in October and December. Mills were waiting for China to return from a week-long national holiday to see the market trend....Read More

Key data from Fastmarkets' pricing session on Wednesday October 14 for the daily alumina index.Fastmarkets' alumina index, fob Australia, was calculated at $272.83 per tonne on Wednesday, its highest since September 9. This was up by 3% week-on-week from $264.42 on October 7.Key drivers The latest deal was concluded at $274 per tonne fob Western Australia on Tuesday. The deal was for 30,000 tonnes...Read More

The three-month price of nickel on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 14, with strong producer price index figures from the United States supporting steady buying in the afternoon.Lead futures, however, struggled to close above nearby support levels.Nickel's outright price on the LME closed at $15,341 per tonne on Wednesday afternoon,...Read More

Fastmarkets is updating market participants on its initiative to price the physical low-carbon aluminium market. Due to feedback received already, Fastmarkets has narrowed down the possible options for a pricing mechanism and streamlined the consultation. This update is part of the original consultation that launched on September 1 and is due to close on December 1. Low-carbon differential Fa...Read More

Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals, oil, power & renewables and shipping. Andrea Hotter talks strategy with the man at the helm, CEO Jeremy WeirJeremy Weir's career at Trafigura almost stumbled before it began. The Melbourne, Australia-born geologist-turned-derivatives-trader was heading to meet one of the commodities trading house's founding partners,...Read More