Exports of standard P1020 aluminium from Canada into the United States in July have declined as demand for value-added products (VAP) resumes and smelters rebalance their production, according to the Aluminium Association of Canada (AAC). This makes the potential reintroduction of Section 232 tariffs by the US government not just unnecessary but also penalizing for North American manufacturers and...Read More

Indian importers have rejected import offers of hot-rolled coil from South Korea at a price of $500-505 per tonne cfr Mumbai, citing low domestic prices, Fastmarkets heard on Wednesday July 29.According to an importer, bids for similar material at $478-480 per tonne cfr Mumbai were not accepted by the seller."The cost of South Korea-origin HRC imports for us, even at a price of $500 per tonne cfr...Read More

The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Wednesday July 29, shrugging off downward pressure from an inflow of 15,050 tonnes of material in the morning, while nickel followed higher in a positive afternoon session for the majority of the base-metals complex.Zinc's outright price on the LME closed at $2,297 per tonne on Wednesda...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 29.Please click...Read More

Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Wednesday July 29. Key drivers: Deals concluded on Wednesday at $275 per tonne fob Western Australia for 30,000 tonnes with mid-August loading.  Prior to this, the deal market had been quiet with no spot business since one deal at $280.50 per tonne fob Australia on July 22. Chinese market participants h...Read More

A major buildup in London Metal Exchange stocks of refined zinc and lead is the main story for both metals this week, with market participants taking warehouse inflows as a sign of supply greatly exceeding demand. Total LME zinc stocks up 54% to 187,475 tonnes on July 29, from 121,050 tonnes on July 20. Total LME lead stocks up 84% over the same time period to 117,600 tonnes. Premiums fl...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view. We also review our price forecasting accuracy for the second quarter 2020.Q2 2020 price forecast performance review According to the results of Fastmarkets' Apex for the second quarter of 2020 published this week, Fastmarkets' base metals research team was the second most accurate price forecaster for nickel (99.06%), lead...Read More

The United States' International Trade Commission (ITC) has voted to retain existing countervailing duties on imports of carbon and certain alloy steel wire rod from Brazil and anti-dumping duties on imports of this product from Brazil, Indonesia, Mexico, Moldova and Trinidad and Tobago, it said on Wednesday July 29. The commission determined that revoking the duty orders "would be likely to lead...Read More

RAPAPORT... The Diamond Club of Antwerp has reelected Thierry Polakiewicz as its president and named 13 other officers and board members.The club, founded in the 1890s, is one of the city's four bourses, and is primarily for traders of polished diamonds. It held its latest election earlier this month, confirming the following officers:President: Thierry PolakiewiczVice president: Philippe Bar...Read More

RAPAPORT... Kering reported weak jewelry sales during the first half of 2020 as a slowdown at its Europe-focused brands outweighed stronger figures in Asia.The group's Boucheron and Pomellato brands suffered from their exposure to the Western European market during Covid-19, Kering reported Monday. However, sales at Qeelin grew for the six months as demand recovered in mainland China when the...Read More

RAPAPORT... Weak rough demand and a devaluation of assets pushed Rio Tinto's diamond division further into the red in the first half of the year, the miner reported Wednesday.The unit recorded a net loss of $40 million for the six months ending June 30, compared with a loss of $5 million a year ago. Diamond sales fell 48% to $141 million for the period."The Covid-19 pandemic has significantly...Read More

RAPAPORT... Nine De Beers sightholders have committed to becoming carbon-neutral, aiming to align the manufacturing sector with environmental standards present elsewhere in the diamond industry.The participants will begin by assessing their current emissions, and will then develop a plan to reduce them in a sustainable way. They expressed their intentions in a virtual meeting Monday held by D...Read More

Domestic prices for hot-rolled coil in have increased over the week to Wednesday July 29 in Northern Europe and stood unchanged in the south of Europe, sources told Fastmarkets. Market activity has been gradually declining over the week because the European market is entering the traditionally slow month of August, but the sentiment remains positive. Steelmakers will resume production at higher pr...Read More

The Technical Secretariat of Anti-Dumping (TSAIP) of the Gulf Co-operation Countries (GCC) has announced its preliminary determination in its steel safeguarding case, the World Trade Organization said on July 23.According to the preliminary results, GCC countries decided that the import of steel products under investigation had increased significantly to the region, which was causing serious harm...Read More

(IDEX Online) - The company behind Baselworld, the iconic but ill-fated trade show, has announced details of its successor - a new watch and jewelry event called HourUniverse.It will take place in Basel, Switzerland, in April 2021, timed to fit around other industry events, notably a rival event in Geneva by ex-Baselworld exhibitors Rolex and Patek Philippe.Organizers the MCH Group describe HourUn...Read More

Hollow steel sections prices in Europe were flat on Wednesday July 29 with the market experiencing its usual summer slowdown, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?540-560 ($620-642) per tonne on Wednesday, unchanged week on week.Fastmarkets' weekly steel sections (medium), domestic, delivered Southern Europe...Read More

(IDEX Online) - The Natural Color Diamond Association (NCDIA) has appointed ambassadors to promote what it describes as the rarest and most beautiful of all stones.They've been tasked with reinvigorating interest in a high-value market that has collapsed in recent months because of the COVID-19 pandemic.Alan Bronstein, president of the association, says a "United Nations" of ambassadors ...Read More

(IDEX Online) -  Nine leading companies have announced their commitment to create a completely sustainable and responsible midstream diamond pipeline.  They will develop "concrete road maps" to reduce their carbon emissions by reviewing all aspects of their businesses, including electricity sources, transport and distribution methods. The nine, all De Beers Sight Holders, agreed on the j...Read More

RAPAPORT... Rio Tinto has given customers flexibility with their rough purchases since the Covid-19 crisis began, allowing them to buy only what they needed."We provided full flexibility for all our customers and worked constructively with individual Rio Tinto select diamantaires during the pandemic to understand, and operate in line with, their needs," a company spokesperson told Rapaport Ne...Read More

Export prices for steel billet from the Commonwealth of Independent States continued to climb over the week ended Wednesday July 29, with offers from mills being limited by the ending of the month.The CIS export prices gained further support from rising import scrap costs in Turkey.The index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $270.82 per tonne...Read More