First Cobalt is entering the second phase of financing discussions for the recommission and expansion of its currently idled cobalt refinery in Canada, with proposals under review with its financial advisor, Canadian Imperial Bank of Commerce (CIBC).The Canada-headquartered company is contemplating an initial recommissioning of the cobalt refinery in partnership with miner and marketer Glencore be...Read More

Spot payables for cobalt hydroxide continued to rally in the first half of the week that began on Monday July 20, with consumers raising their bids in an effort to secure spot August cargoes, which remained in tight supply.The assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end), rose to 70-71.5% on July 22. Th...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 22.Please click...Read More

Here are five Fastmarkets stories you might have missed on Wednesday July 22 that are worth another look.Russia's largest steelmaker, Novolipetsk Steel (NLMK), has suspended rolling operations at its subsidiary in the Ural region due to a flood, the company said earlier this week.Rio Tinto has formally complained...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 22.Please click...Read More

This is a rare sighting. Perhaps not as rare as Sasquatch or Nessie. But rare nonetheless...by Keith Weiner of Monetary-MetalsThe price of silver has just spiked up about $2.00-that's about 10%.All the usual suspects have been calling for silver to skyrocket. With some amusement, we have been watching ads from a guy known for savvy junior mining stock investments, who has been calling for gold to...Read More

If this technical indicator is positive, silver will likely continue higher on Thursday. However, if it turns out to be a negative indicator... by Steve St Angelo of SRSrocco ReportBy the close of trading today, it will set the short-term trend for the silver price. If this technical indicator is positive, silver will likely continue higher tomorrow. However, if it turns out to be a negativ...Read More

London Metal Exchange three-month base metals prices were down at the close of trading on Wednesday July 22 following news that China's central bank will cease its monetary easing activity amid fears that it would over-stimulate its economy while it recovers from the Covid-19 pandemic.The People's Bank of China injected 1.81 trillion yuan ($259 billion) of new loan liquidity on July 10. Following...Read More

AND WITH NO SILVER AROUND: WHAT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!by Harvey Organ of Harvey Organ BlogJULY 21//ERIC SPROTT SENDS SILVER HUGELY NORTHBOUND WITH A MASSIVE 75 MILLION OZ PURCHASE//SILVER UP $1.38 TO $21.18//GOLD FOLLOWS NICELY UP $26.090 TO $1842.60//COMEX GOLD STANDING: 24.2 TONNES//A MASSIVE 15.368 MILLION OZ ADDED TO THE SLV: (THIS IS A FRAUD)//A HUGE 4.97 TO...Read More

The seaborne premium hard-coking coal fob Australia index increased on Wednesday July 22 following the latest transaction, which market participants attributed to an optimistic outlook shared among miners and traders, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $109.93 per tonne, up $1.67 per tonne Premium hard coking coal, cfr Jingtang: $119.23 per tonne, down $0.24 p...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Comfortable consolidationAluminium appears comfortable consolidating for the moment, and this will leave prices in a stronger position to challenge overhanging long-term trend-line resistance from the May 2018 high, which stands at $1,670 per tonne currently.Copper: Consolidation unlikely to lastCopper reached its...Read More

RAPAPORT... Independent US jewelers with financial stability have weathered the Covid-19 crisis well, but face a serious challenge if the pandemic persists, according to Jewelers of America (JA) CEO David Bonaparte."Mainstream mom-and-pop retail jewelers, especially the ones that are in a standalone location, aren't doing that badly," Bonaparte said Monday in an interview with Rapaport News....Read More

RAPAPORT... Some Signet Jewelers team members will not return from furlough after the company restructured its store operations during the Covid-19 shutdown.The jeweler has recalled most of its furloughed employees, but has laid off an unspecified number, it noted. In June, the owner of Kay Jewelers, Jared and Zales announced it was closing 380 stores.The jeweler is moving toward a more digit...Read More

RAPAPORT... Alrosa will spend $12 million over the next two years prospecting and developing several diamond deposits in Zimbabwe.The government has allowed the Russian miner to begin exploration through Alrosa Zim, a joint venture with national miner Zimbabwe Consolidated Diamond Company (ZCDC). Geologists will start sampling and trenching this month in selected zones in the provinces of Mat...Read More

CIS export steel billet prices continued to strengthen early this week after a fresh sale and on limited availability of August-rolling volumes, Fastmarkets heard on Wednesday July 22.Rare offers from CIS mills were heard within the range of $380-385 per tonne fob Black/Azov Sea ports. This was up from $375-385 per tonne fob late last week.Some Russian producers, however, quoted significantly high...Read More

RAPAPORT... The Jewelers Board of Trade (JBT) reduced companies' credit scores at an "unprecedented" rate in the second quarter as businesses missed payments during the Covid-19 crisis.Many jewelers that bought on terms of 90 days or less before the pandemic were unable to meet their obligations to suppliers because revenues dried up during lockdowns. As a result, the JBT downgraded 1,70...Read More

Italian steel re-rollers have been targeting a price increase for heavy plate due to the rising cost of steel slab, sources told Fastmarkets on Wednesday July 22.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?430-440 ($493-505) per tonne on July 22, up by ?,?10 per tonne week on week from ?,?420-430 per tonne.The assessment was based on achievabl...Read More

(IDEX Online) -  Alrosa is investing $12m seeking out new diamond reserves in Zimbabwe.The Russian state miner announced a joint venture in December 2018 with the national miner Zimbabwe Consolidated Diamond Company (ZCDC), and is now embarking on two-years of prospecting and preliminary exploration works for primary diamond deposits.Zimbabwe is hoping to exploit its rich diamond reserves and...Read More

(IDEX Online) - An Indian laborer who leased a tiny square of land to dig for diamonds has unearthed a 10.69 carat stone valued at $67,000. Anandilal Kushwaha, 35, paid just $2.70 for the six-month rights to a 25ft by 25ft patch in an area of Panna, Madhya Pradesh, known for its diamond deposits. The stone will be auctioned by the mineral resources department and Mr Kushwaha says he'll share...Read More

(IDEX Online) - A pioneering new app uses facial recognition-type technology to positively identify diamonds and combat fraud.It allows anyone in the jewelry industry with an iPhone or iPad and a $50 outlay to start registering and verifying diamonds using a special viewer that fits over the camera lens.Tech firm GemEx says its patented DiamondEye is the only affordable ID system in the marketplac...Read More