My research team and I went off on a wild tangent trying to identify how the markets could react to the recent spike in price activity on Monday, November 9, 2020. This is the day that Pfizer announced a 90% effective rate with its new COVID-19 vaccine, causing the US stock market to skyrocket higher before the opening bell in New York. As with most pop-and-drops, this incredible upside spik...Read More
European ferro-titanium prices could hit multi-year highs in the coming weeks against strengthening demand from steelmakers and increasingly tight supplies of scrap, alloy suppliers in Europe told Fastmarkets. Delivered duty-paid prices in Europe will set a new annual peak if prices increase at all from the top end of the current range, and the market will equal a more than six-year high if prices...Read More
Copper and aluminium prices reached new year-to-date highs at the close of trading on the London Metal Exchange on Monday November 30, while the rest of the base-metals complex showed dips in their three-month prices.Copper rose to $7,580 per tonne at 5pm on Monday, up by 1% from Friday's closing price of $7,499.50 per tonne and setting a new year-to-date high.The red metal also went up to $7,708....Read More
The London Metal Exchange has appointed a new head to its LME Clear platform after Richard Thornhill stepped down from the position, Fastmarkets understands.Marco Strimer was appointed as Chairman of the LME Clear Limited Board on Monday November 30 following Richard Thornhill's retirement after seven years at the role. Strimer has been a member of the LME Clear Board since December 2013 and...Read More
The London Metal Exchange copper price rose by 1.8% in morning trading on Monday November 30, continuing the bullish trend from the previous week and boosted by positive Chinese economic data and a weak dollar index, but nickel was the laggard. Copper's three-month price, which last Friday leapt to numbers not seen since April 2013, rose to $7,636.50 per tonne at 9am with over 14,000 lots exchange...Read More
Hurry-up and sell all of your soon to be worthless silver! There is, however, this funny thing about bear traps...(by Half Dollar) Um, yeah.I was wrong, again.It happens.Yup.Thank God that I don't spoon feed the Beast, because if I gambled in the Rigged Casino known as Wall Street and I saw the "price action" that I saw last night in silver, I'd probably have some pretty serious indigestion right...Read More
The silver miners' stocks have been grinding lower on balance since early August in a healthy correction. This necessary rebalancing is achieving its...by Adam Hamilton of Zeal LLCThe silver miners' stocks have been grinding lower on balance since early August in a healthy correction. This necessary rebalancing is achieving its mission of dampening enthusiasm, paving the way for this sector's...Read More
The London Metal Exchange has appointed a new head to its LME Clear platform after Richard Thornhill stepped down from the position, Fastmarkets understands.Marco Strimer was appointed as Chairman of the LME Clear Limited Board on Monday November 30 following Richard Thornhill's retirement after seven years at the role. Strimer has been a member of the LME Clear Board since December 2013 and...Read More
European ferro-titanium prices could hit multi-year highs in the coming weeks against strengthening demand from steelmakers and increasingly tight supplies of scrap, alloy suppliers in Europe told Fastmarkets. Delivered duty-paid prices in Europe will set a new annual peak if prices increase at all from the top end of the current range, and the market will equal a more than six-year high if prices...Read More
RAPAPORT... A pink-diamond necklace by designer Feng J was the top seller at Phillips's Hong Kong sale, leading the $9 million auction.The Jardin de Giverny, a diamond and gem-set necklace featuring a 19-carat, fancy-light-pink diamond center stone, sold for $2.6 million, the auction house said Monday. The piece, which can also be transformed into a ring and bracelet set, brought in just over its...Read More
RAPAPORT... US jewelry sales plunged 54% year on year on Black Friday as consumers stayed away from physical stores, according to shopping tracker RetailNext.Total footfall at brick-and-mortar stores decreased 48%, while in-store purchases across all categories slid 30%, RetailNext reported Saturday. The drop was also due to a lack of "doorbuster" sales, in which retailers offer large discounts on...Read More
RAPAPORT... De Beers has pledged to provide the origin and impact of all its diamonds by 2030 as part of a plethora of sustainability goals it has set out for the coming decade.By 2025, it will "scale" programs that help identify the provenance of De Beers-mined diamonds at retail, the company said Monday. By 2030, it will record most of its annual production - by value - on its Tracr blockch...Read More
(IDEX Online) - De Beers today unveiled a sustainability charter, with a dozen pledges, including gender parity and carbon neutrality.The miner and retailer announced its "Building Forever" goals to protect the natural world and improve people's lives over the next decade in its four producer countries - Botswana, Namibia, South Africa and Canada - and the 30-plus countries where its brands D...Read More
(IDEX Online) - A necklace with over 117 carats of emeralds and diamonds sold at auction for almost $7m.Edmond Chin, the Singapore-born jewelry designer, created the one-of-a-kind piece for the Geneva-based Maison Boghossian, and it was sold at Christie's Hong Kong - where he started his career working in the jewelry and jadeite department.It sold for $6.99m, a fraction below the...Read More
(IDEX Online) - Dozens of gold miners are feared dead following the collapse of a disused deposit in Zimbabwe.Efforts are still being made to rescue around 30 miners trapped underground at the Ram mine, Bindura, about 70km north of the capital Harare. Six men have so far emerged alive since the disaster on Wednesday.It follows two other mine collapses in the country in recent weeks.&nbs...Read More
RAPAPORT... A Colombian emerald and diamond necklace designed by Edmond Chin for Boghossian was the top seller at the Magnificent Jewels sale at Christie's in Hong Kong, fetching $7 million.The double rivi??re piece contains 28 cushion and octagonal-cut Muzo emeralds weighing a total of 117.60 carats, and 48.01 carats of oval and rectangular-cut, D- to F-color diamonds. It went for just under its...Read More
The first deal for the supply of aluminium to main Japanese ports (MJP) for the first quarter of 2021 has concluded at a premium of $125 per tonne cif MJP, multiple sources told Fastmarkets on Monday November 30. The deal was for 6,000-9,000 tonnes of aluminium ingot in total for January-March delivery, with 2,000-3,000 tonnes to be delivered each month, and is on top of the London Metal Exchange...Read More
The London Metal Exchange copper price rose by 1.8% in morning trading on Monday November 30, continuing the bullish trend from the previous week and boosted by positive Chinese economic data and a weak dollar index, but nickel was the laggard. Copper's three-month price, which last Friday leapt to numbers not seen since April 2013, rose to $7,636.50 per tonne at 9am with over 14,000 lots exchange...Read More
Base metals prices were mainly stronger this morning, Monday November 30, helped by strong Chinese manufacturing purchasing managers' index (PMI) data and a weaker dollar, but some of the metals are starting to look tired.Chinese manufacturing PMI climbed to 52.1 in November, up from 51.4 in OctoberChinese non-manufacturing PMI climbed to 56.41 in November, up from 56.2 in OctoberBase metals The t...Read More
The price of hot-rolled coil in the United States has reached its highest level in over two years, Fastmarkets has learned. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $39.83 per hundredweight ($796.60 per ton) on Monday November 30, up 2.1% from $39 per cwt on Wednesday November 25 and an increase of 2.7% from $38.80 per cwt one week earlier. Inputs were received...Read More