Copper's price reached $9,705 per tonne in the morning, while the rest of the London Metal Exchange base metals also started the week with higher prices on Monday April 26. Copper's price was up 1.6% on Monday morning to a new 2021 high - and its highest level since July 2011 - following a 1.9% rise over last week, when it closed at $9,551 per tonne on Friday. There were more than 11,000 lots...Read More

Copper led the London Metal Exchange base metals higher this morning, Monday April 26, and most of the base metals on the Shanghai Futures Exchange were up too, while the market continued to benefit from the strong purchasing managers' index (PMI) data that was out on Friday. US markets managed to shake-off concerns about US President Joe Biden's tax plans Base metalsLME three-month base metals pr...Read More

RAPAPORT... The Responsible Jewellery Council (RJC) has unveiled a task force to help benchmark the progress of its members in the implementation of the 17 United Nations Sustainable Development Goals (SDGs).The group, which includes 26 industry leaders together with representatives of nongovernmental organizations, trade bodies and academia, will establish a platform to coordinate the joint...Read More

RAPAPORT... Switzerland's watch trade saw a sharp increase in exports in March, benefiting from a favorable comparison with the onset of the coronavirus crisis and the first rise in shipment volumes in more than 30 months.Orders advanced 37% year on year to CHF 1.87 billion ($2.05 billion), the Federation of the Swiss Watch Industry said last week. Last March, Swiss exports slumped 22% to CHF...Read More

RAPAPORT... A fancy-intense-pink diamond ring with a high estimate of CHF 11 million ($12 million) is set to feature at the Magnificent Jewels sale at Christie's in Geneva.The oval-shaped, 15.23-carat piece, surrounded by diamonds, will be offered alongside the 100.94-carat Alrosa Spectacle diamond at the May 12 auction, Christie's said last week.Other notable items include a heart-shaped, 53.33-c...Read More

(IDEX Online) - Sales of watches and jewelry remained strong in February, up 22.0 per cent year-on-year.  That's in line with January's performance, originally reported as 26.1 per cent, but since revised down to 22.7 per cent based on actual till transactions. Despite that sharp reduction, the two months together suggest a sustained recovery. The year-on-year increases exceed any s...Read More

RAPAPORT... A US advertising regulator has rebuked the Natural Diamond Council (NDC) over its environmental claims following a complaint by Diamond Foundry, a lab-grown producer.The National Advertising Division, part of industry self-regulator BBB National Programs, has called onthe NDC to stop using certain assertions that compare natural stones with synthetics, it said Thursday. These incl...Read More

(IDEX Online) - The planned expansion of Botswana's flagship Jwaneng mine should help to create over $920m of extra revenue in the next four years, said operator Debswana.The company, a joint venture between De Beers and the government, will begin underground mining after 50 years of open-cast operations at Jwaneng, the richest diamond mine in the world by value."Early access is expected by 2...Read More

Hot-rolled coil prices in the United States have soared above $72 per hundredweight ($1,440 per short ton), setting another historic high, with market participants expecting additional price increases due to continuing tight spot supply.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $72.67 per cwt ($1,453.40 per ton) on Monday April 26, up by 1.37% from $71.69 per cw...Read More

(IDEX Online) - Romantic William Hunn bought five engagement rings for his girlfriend  - so she could have a choice when he made his surprise proposal.  He took Brittney Miller on a helicopter ride around Atlanta, Georgia, USA, before dropping to one knee and asking her to marry him."You can try all five or pick one," he told her, in a video he posted to Instagram (see pic).He'...Read More

Liberty Steel Dudelange-Liege has been canceling orders and shipments to customers that had agreed deals for cold-rolled coil and hot-dipped galvanized coil, sources have told Fastmarkets.Liberty Dudelange-Liege comprises three production sites - at Fl?(C)malle and Tilleur in Belgium and at Dudelange in Luxembourg - each producing cold-rolled coil, HDG and tinplate."[Liberty Steel] has canceled or...Read More

The Commonwealth of Independent States (CIS) export rebar and wire rod prices increased over the week to Monday April 26 after customers accepted higher levels in recent sales, sources said.A strong domestic market in Russia rendered support to local producers, which, therefore, increased their asking prices for long steel products abroad, Fastmarkets heard.In the middle of last week, one Russia-b...Read More

German steelmaker Salzgitter has upwardly revised its full-year forecast for 2021 after posting positive preliminary results for the first quarter due to improving steel market fundamentals.In its preliminary first-quarter report, published on Friday April 23, Salzgitter said it expected pre-tax profits of ?,?117.30 ($141.90) million, "thereby exceeding current market expectations" - a signif...Read More

Emmerson's premium offeringSPONSOREDemmerson plcAlto emerging on song at SandstoneSPONSOREDalto metalsTowards Sustainable Mining Tailings Guidance Aligns with Global StandardSPONSOREDthe mining association of canadaWMX resetting the base for new Wiluna futureSPONSOREDwiluna mining corporationThe company reported record quarterly revenue of C$162.2 million and record gross profit of C$96.3 mill...Read More

Algerian Qatari Steel (AQS) is planning to export 300,000 tonnes of steel billet by the end of the third quarter of 2021, a source from the company told Fastmarkets on Monday April 26.The company loaded 10,000 tonnes of billet to be exported to Syria earlier this week and will load another cargo of around 10,000 tonnes next week to be exported to Europe,...Read More

The Turkish deep-sea scrap import market was quiet on Monday April 26, with sources reporting there were still suppliers with cargoes available for June shipments.The most recent deep-sea transactions were heard on Wednesday April 21, when two Baltic Sea suppliers secured bookings at $426-427 per tonne cfr on a heavy melting scrap 1&2 (80:20) basis, while a European supplier sold a mixed cargo at...Read More

Turkish domestic scrap prices have remained fairly stable over the past seven days, with most mills keeping their buy prices unchanged week on week, market participants said on Monday April 26.Long steel producers in the Izmir region continued to buy domestic auto bundle and ship scrap at stable prices over the past seven days.Only two mills in the Marmara region cut...Read More

A cargo of 62% Fe Brazilian Blend iron ore fines was traded on Monday April 26 at a price of $194.40 per tonne cfr China on a trading platform, a record high since Fastmarkets' index for 62% Fe low-alumina fines, cfr Qingdao, was introduced in August 2018.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $193.58 per tonne, up by $7.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $194.40 pe...Read More

As the current surge in coronavirus cases in India takes hold, Fastmarkets looks at the possibility that the steel industry could lose its impressive growth.New cases of coronavirus in India have surpassed 350,000 per day and steel plants in the country have been supplying liquid medical oxygen (LMO) to hospitals because of the ongoing shortage of available oxygen. Diverting supplies of oxygen awa...Read More

Copper led the London Metal Exchange base metals higher this morning, Monday April 26, and most of the base metals on the Shanghai Futures Exchange were up too, while the market continued to benefit from the strong purchasing managers’ index (PMI) data that was out on Friday.US markets managed to shake-off concerns about US President Joe Biden’s tax plans.Base metalsLME three-month base...Read More