(IDEX Online) - An Australian man has appeared in court charged with insider trading over a high-value diamond discovery.He's alleged to have bought up shares in Lonhro - now Lucapa - for a family member when he learned of a high-value diamond discovery the company had made in Africa back in 2012.The find was only made public five days later, by which time the shares bought had increased in v...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.Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key themes – OPEC+ production, Covid-19 developments, and the energy transition.Following...Read More

(IDEX Online) - India's gross exports of gems and jewelry saw "remarkable growth" in March as they surged by over 78 per cent year-on-year.Foreign sales took a huge hit for most of the financial year which has just ended, but rallied significantly in the three months since January, according to news figures from trade body Gem and Jewellery Export Promotion Council (GJEPC).Overall exports fel...Read More

(IDEX Online) - Jewelers in India's Maharashtra state are lobbying the government for permission to open, despite a Covid-ban on all but essential businesses.April is traditionally a busy month, with Gudi Padwa (Hindu lunar new year) and a number of other harvest festivals, as well as the start of the wedding season.Maharashtra, with a population of 110m, currently has a night-time curfew and...Read More

The US Midwest aluminium premium climbed to its highest point in more than six years on Tuesday April 13, supported by rising global premiums and shrinking supply.Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 22.5-23.5 cents per lb on April 13, up by 2.22% from 22-23 cents per lb previously and its highest since February 18, 2015, when the premium was assessed at 23.75-...Read More

Brian Helsel, president of the American Tin Trade Association, tells Fastmarkets how he foresaw the recent squeeze on tin markets last year, recalls a turbulent time for trading and discusses the outlook for the metal.There were many pings in the background on a frenetic trading day for Brian Helsel, president of the American Tin Trade Association, when he spoke to Fastmarkets about a tin shortage...Read More

Visible progress has been made toward network readiness and availability of 5G telecommunications in the first quarter of 2021, after delays last year resulting from the Covid-19 pandemic, sources have told Fastmarkets.To date this year, there has been already a significant ramping-up of the uptake of 5G devices. The Global Mobile Suppliers Association (GSA), in its 5G devices summary for March 20...Read More

Prices in the Commonwealth of Independent States (CIS) export steel billet market continued to climb on support from demand in Latin America while momentum in China slowed down, sources told Fastmarkets."Everyone in the CIS is now offering [billet] at a minimum of $600 per tonne fob Black Sea," one trader said.Some market participants reported offers from the CIS at up to $605 per tonne fob Black...Read More

Domestic prices for hot-rolled coil in Northern Europe continued to rise on Tuesday April 13 due to a material shortage, market sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?905.00 ($1,077.07) per tonne on Tuesday April 13, up by ?,?3.33 per tonne from ?,?901.67 per tonne on April 12.The index was up by ?,?20.99 per tonne...Read More

Flat steel import prices to the United Arab Emirates and Saudi Arabia increased sharply in the week to Tuesday April 13 despite weak demand, sources told Fastmarkets.The weakness in demand was attributed to the Islamic holy month of Ramadan that started on the evening of April 12, traditionally a slow period for both countries amid reduced working hours.But uncertainty on rebates fo...Read More

Flat-rolled steel product export prices from the Commonwealth of Independent States (CIS) reached a new high during the week to Monday April 12 on suppliers' bullish mood after they increased offers again, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil (HRC), export, fob Black Sea, CIS was $895-915 per tonne on April 12, up from $885-895 per tonne a week before."Local...Read More

Demand for long steel products was weak in the United Arab Emirates during the week to Tuesday April 13, with prices close to those heard last week, sources told Fastmarkets.The Islamic holy month of Ramadan started on April 12, and demand was unlikely to improve over the period because of the traditionally reduced working hours.In addition, there were hardly any new projects in the country, and s...Read More

A summary of operational results for Russia's largest steelmaker, Novolipetsk Steel (NLMK), for the January-March quarter of 2021. The company also has assets in Europe and the United States.In brief Steel product sales to export markets fell to 1.2 million tonnes, down by 21% quarter on quarter, with a decline in pig iron sales but a rise in intragroup slab deliveries. Sales in home markets incre...Read More

China's domestic rebar prices stopped their downward trend on Tuesday April 13 following a recovery in the futures market, Fastmarkets heard.DomesticEastern China (Shanghai): 4,980-5,000 yuan ($760-764) per tonne, up by 10-20 yuan per tonneRebar futures rebounded from two days' of decreasing on the positive news from the futures market.Spot rebar prices followed suit but rose by just 10-20...Read More

China's hot-rolled coil prices rallied on Tuesday April 13 following gains in the futures market, but export offers from mills were mixed due to the lingering uncertainty surrounding a reduction in the export rebate.DomesticEastern China (Shanghai): 5,410-5,500 yuan ($826-840) per tonne, up 60-110 yuan per tonneA Shanghai-based trader said spot sellers there were offered 5,410-5,430 yuan per tonne...Read More

Base metals prices on the London Metal Exchange were down across the board this morning, Tuesday April 13, as were most of the metals prices on the Shanghai Futures Exchange, while broader markets were quiet.* China’s trade data showed imports and exports grew, highlighting broad-based economic recovery* Markets waiting for the release of United States consumer prices today and to see how tha...Read More

Stronger global demand for higher-grade steel scrap was justification for higher premiums for quality materials, market participants said during Fastmarkets' virtual conference on Scrap, DRI and Mini-Mills on Tuesday April 13.Asian countries such as Indonesia, Malaysia, Bangladesh, India and Pakistan, in addition to China, have increasing needs for higher-quality scrap, leveling the grade demand a...Read More

Nvidia (NVDA), a NASDAQ 100 stock moved above $614.69 to an all-time high extending an intermediate uptrend.Oil and Gas Exploration SPDRs (XOP) moved below $76.09 setting an intermediate downtrend.CooncoPhillip (COP), an S&P 100 stock moved below $50.53 setting an intermediate downtrend.Oil Services ETF (OIH) moved below $179.54 setting an intermediate downtrend.Schlumberger (SLB), an S&P...Read More

Turkish steel producers continued to avoid deep-sea ferrous scrap bookings due to weak finished steel sales, market sources said on Tuesday April 13.A steel mill in the Iskenderun region booked a Canadian cargo at the end of the last week comprising 35,000 tonnes of a 95:5 mix of No1 and No2 heavy melting scrap and 15,000 tonnes of shredded at an average price of $436 per tonne cfr, caus...Read More

Stephen Montague tells Fastmarkets about his passion on the importance of people in his company's success and the attitude and focus needed to have a positive impact in a decarbonizing steel industry.'We want people who have the mindset to really love and serve others' - President & CEOMidrex Technologies, owned by Kobe Steel of Japan, sets great store in the development of the major direct-r...Read More