High demand for bulk vessel space for mineral raw materials exported from China is driving costs for this transport option higher, with market participants reporting an array of factors that are affecting trading conditions and delivery timelines.Container freight costs for China's seaborne route have remained high well into March, with ongoing disruptions reported by participants active in m...Read More

Crude steel output in Germany dropped by 10.4% year on year in February 2021 after four consecutive months of recovery, German steel federation WV Stahl said on Monday March 22.German crude steel production totaled more than 3.09 million tonnes in February, down from 3.46 million tonnes in the corresponding period of 2020."The cautious upward trend of the past few months has ended. The recove...Read More

Here are five Fastmarkets stories you might have missed on Monday March 22 that are worth another look.Crude steel output in Germany dropped by 10.4% year on year in February 2021 after four consecutive months of recovery, German steel federation WV Stahl said on March 22.The process at...Read More

Usually after a London Metal Exchange discussion paper there is a decent idea of what the outcome is likely to be. But this time around, it seems much harder to tell which path the LME will take. The proposals under debate include the permanent closure of the exchange's open outcry trading floor, known as the ring, which dates back to 1877. They also include the incentivization of electronic trade...Read More

Fluctuating global prices and erratic downstream secondary aluminium consumption have market participants in Europe wondering how to manage risk through periods of volatility. Fastmarkets' assessment of the aluminium pressure die-casting ingot DIN226/A380, delivered Europe was at ?,?2,010-2,040 ($2,391.04-2,426.72) per tonne Friday March 19, down from ?,?2,040-2,090 per tonne the week before....Read More

This is highly unusual...by Jason Burack of Wall St For Main StOver 1.6 million oz of physical silver came into the Sprott Physical Silver Trust (PSLV) this week.So while physical silver is still increasing in PSLV the last 2 weeks the amount of silver coming in is slowing down when compared to the pace of January and February 2021.Also, according to a trader involved in the silver squeeze the US...Read More

Initial deals for second-quarter supply of aluminium to Japan have settled at levels that would mark six-year highs, boosted by demand from other key importer regions. Since the beginning of March, international producers have locked deals with Japanese buyers at $148-149 per tonne cif main Japanese ports (MJP), the highest since the second quarter of 2015, when the settlement was at $380 per...Read More

Their memes are truly inspirational...by J. Johnson via JS MinesetGreat and Wonderful Monday Morning Folks We start the first trading day of Spring with June Gold down $4.30 with the trade at $1,739.70 after the dip down to $1,728.60 with the high at $1,749.20. Silver is still their big problem with the trade at $25.82, down 50.1 cents after the algos dipped it to $25.45 with the high...Read More

Aluminium's futures price reached yet another year-to-date high at $2,289.50 per tonne during trading on the London Metal Exchange on Monday March 22, with supply concerns for the metal continuing, and with all base metals prices up day-on-day at the close.The price of aluminium closed at $2,272 per tonne, $7 per tonne higher than on Friday, while its intraday high point on Monday was its highest...Read More

The process at the heart of proposals to overhaul the London Metal Exchange's market structure is problematic and suggests the exchange is not putting its users first, the president of the International Wrought Copper Council (IWCC) said. In an interview with Fastmarkets, Mark Loveitt said that it was not clear to the IWCC and its members why the exchange was revisiting plans to change its margin...Read More

The proposals included in the London Metal Exchange's discussion paper would not serve the needs of the physical market and could have a negative impact on copper and copper alloy semis-fabricators, the International Wrought Copper Council (IWCC) said.Mark Loveitt, IWCC president and director, said the association is not opposed to change but believed the proposals would not achieve the LME's stat...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.In both Europe and the United States, the prices of most flat steel products have pushed to record highs in the weeks to Monday March 22. They remain slightly below their mid-2008 peaks in China, but are at multi-year highs there too.This illustrates in part the heavier consequences of the Covid-19 pandemic for steelmakers in...Read More

Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More

RAPAPORT... When Covid-19 hit Europe and the United States just over a year ago, the watch world took an immediate beating. Sales plummeted globally, and not long after that, Swiss manufacturing facilities had to close for several weeks or more, causing a loss of production. Luckily, a year later, the industry seems to have stabilized - thanks in part to customers having more disposable incom...Read More

RAPAPORT... Informa, which runs the September Hong Kong show, has joined together with the Italian Exhibition Group (IEG) to launch a new fair in Dubai.The first edition of Jewellery, Gem & Technology (JGT) Dubai will take place from February 22 to 24 at the Dubai World Trade Centre (DWTC), the companies said Monday. The event - a partnership with the Dubai Multi Commodities Centre (DMCC) - wi...Read More

RAPAPORT... Spending on engagement rings in 2020 was only moderately affected by the Covid-19 pandemic as increased disposable income boosted consumers' budgets, according to a survey by The Knot.Last year, consumers spent an average of $5,500 on an engagement-ring purchase, a 6% dip from the $5,900 they were willing to lay out in 2019, the recent study found. Responses from 86% of those surv...Read More

(IDEX Online) - Signet Jewelers has achieved the targets of its three-year turnaround plan it says, as it reported increased revenue in Q4 of 2020 and a 70 per cent surge on online sales. The world's largest retailer of diamond jewelry achieved better-than-expected results and announced a new strategy  -  Inspiring Brilliance, which will focus on innovation and sustainable grow...Read More

RAPAPORT... Lucapa Diamond Company has increased output at its Mothae mine by 45% following an expansion of the site and the installation of a new processing plant.The project will allow the miner to raise its ore-processing capacity to 1.6 million tonnes per year, from 1.1 million tonnes, it said Monday. Lucapa has also added new machinery to the plant to aid in the process.The company is working...Read More

(IDEX Online) - Elsa Peretti, the Italian fashion model turned iconic jewelry designer has died aged 80.She was probably best known for her signature bone cuff bracelet, and for making silver popular again during her long tenure at Tiffany & Co.She was working as a model in New Work when she decided to try her hand at making jewelry, inspired by a piece she spotted at a flea market.She became...Read More

Domestic prices for steel hot-rolled coil substantially increased across Europe over the week to Friday March 19, driven by a material shortage and strong demand.At the end of last week, ArcelorMittal increased its offer prices further, up by ?,?50 per tonne in Northern Europe to ?,?850 ($1,012) per tonne ex-works, and up by about ?,?30-40 per tonne to ?,?820 per tonne ex-works in Italy.Fastmarket...Read More