High freight rates are pushing prices along the aluminium supply chain to multi-year highs, but there is one area where it is having the opposite effect: alumina.Alumina prices have been under pressure because of oversupply and high freight costs deterring buyers in China from importing despite low prices.Fastmarkets assessed its daily benchmark alumina index, fob Australia at $274.15 per tonne on...Read More

Market chatter about China possibly imposing new export taxes for steel as part of commodity price cooling measures has been rampant in the past week, causing traders and market participants to re-think their trading strategies, and overseas buyers to consider a potential supply shortfall.The taxes are supposed to take place from June 1, but there has been no official statement by China's Ministry...Read More

There are a few clues about how this is likely to play out...Jim Forsythe with Chris Marcus on Arcadia EconomicsWatch out for silver "spoof" prior to options expirationTuesday is silver options expiration on the COMEX. And with the way the board is lined up, there are a few clues about how this is likely to play out.To find out more, click to watch the video now!FULL SHOW NOTES AND LINKS HERE Read More

The three-month prices of zinc and lead were the only ones to rise on Tuesday May 25, while other futures contracts on the London Metal Exchange ended the day lower, with consolidation continuing in the base-metals complex.The price of the galvanizing metal rose to $2,982.50 per tonne from Monday's 5pm price of $2,948.50 per tonne. One week earlier, zinc had reached its latest year-to-date high at...Read More

Seaborne iron ore prices rose on Tuesday May 25, on support from a trading activity recovery in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $192.87 per tonne, up $0.45 per tonne62% Fe low-alumina fines, cfr Qingdao: $194.49 per tonne, up $0.62 per tonne58% Fe fines high-grade premium, cfr Qingdao: $165.02 per tonne, up $1.55 per tonne65% Fe...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly positive on the morning of Tuesday May 25, with only SHFE lead showing significant weakness. Broader markets seem to have become more risk on again after US central bankers stuck to their dovish guidance.Asia-Pacific equities were firmer this morning, especially in China where government action has calmed inf...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.The steady climb in copper prices since mid-2020 – and the more recent launch into the stratosphere – puts me in mind of Senator Gracchus in the film Gladiator. Specifically, his observation that fear and wonderment is a p...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.Demand for copper — already on a rising trend — is arguably set to explode as the energy transition takes hold. In order to prevent structural deficits, unsustainably high prices and demand destruction, miners will have to...Read More

RAPAPORT... A necklace made in 1925 by Jean Fouquet will be the flagship item in a selection of vintage jewelry at an online sale by the French unit at Christie's.This piece is expected to fetch up to EUR 450,000 ($551,254) at the June 21 to July 5 sale, which will offer a range of 19th to early 20th century jewelry. The white gold and silver necklace is an example of jewelry influenced by th...Read More

RAPAPORT... The International Gemological Institute (IGI) has begun offering education services in Egypt, expanding its footprint from its current eight facilities.The institute offers training courses that cover fundamental jewelry topics such as raw-diamond classification and jewelry design, it said Monday. IGI also provides trainees the option of becoming certified specialists in precious...Read More

RAPAPORT... Stuller, a provider of goods and services for jewelry professionals, has named Guy Borenstein as its senior gemologist.Borenstein has 15 years of gemology experience under his belt, including stints as vice president of gemological services at Gemewizard, and as chief gemologist at the European Gemological Center and at GWLAB laboratories, an independent chain of labs."Guy is a wo...Read More

RAPAPORT... Lucapa Diamond Company has agreed to acquire the Merlin diamond project in Australia for AUD 23 million ($17.8 million), planning to fund the deal with private and public sales of its shares.The acquisition agreement with Merlin Operations complements Lucapa's existing portfolio, the miner said Monday. "This is a strategic acquisition which represents a value-accretive and lo...Read More

(IDEX Online) - Mehul Choksi, the Indian diamantaire facing extradition over an alleged $1.85bn fraud against the Punjab National Bank (PNB) has gone missing on Antigua.Family members are "worried and anxious", says his lawyer, after his car was found - with no sign of him - on the Caribbean island where he currently has citizenship.  He was last seen at 5.15pm local time on Sunday 23 May.The...Read More

(IDEX Online) - Diamond manufacturer Shairu Gems says it has become first in India to achieve carbon-neutral status.The Mumbai-based company has been financing emission reduction programs to offset its own carbon emissions.In 2014 the company won international recognition for building the world's first energy-efficient diamond factory (pictured), in Surat.Shairu, a De Beers sight holder with...Read More

(IDEX Online) - The largest purple-pink diamond ever offered at auction sold yesterday for $29.3m, a record high price but far short of its $38m high estimate.The 15.81-carat type IIa IF diamond (pictured) was named the Sakura Diamond because it perfectly matches the petals of the Sakura cherry blossom.It was the highlight of a Christie's Hong Kong live auction.The previous auction record for...Read More

(IDEX Online - The Dubai Diamond Exchange (DDE) could set up its own bank to provide financing for dealers.The move is designed to attract more business to a hub that opened in 2002 and last year saw $25bn of rough diamond transactions. Ahmed Bin Sulayem (pictured), executive chairman and CEO of Dubai Multi-Commodities Centre (DMCC) where the exchange is located, said he recognized the need f...Read More

The price of containerized shredded steel scrap imported into India decreased this week on softer demand that was a result of the wave of Covid-19 cases sweeping much of the country, as well as weaker steel prices in China, Fastmarkets heard on Tuesday May 25.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $510.93 per tonne on Tuesday, down from $517.88 per tonne in t...Read More

Fastmarkets has increased the frequency of its India steel scrap shredded index to twice-weekly from Tuesday May 25, 2021, following a consultation period which ended on May 20.The steel scrap shredded, index, import, cfr Nhava Sheva, India, has been subject to continuous fluctuations in the market as a result of factors such as the Covid-19 pandemic and the global shipping crisis.This means that...Read More

The three-month prices of zinc and lead were the only ones to rise on Tuesday May 25, while other futures contracts on the London Metal Exchange ended the day lower, with consolidation continuing in the base-metals complex.The price of the galvanizing metal rose to $2,982.50 per tonne from Monday's 5pm price of $2,948.50 per tonne. One week earlier, zinc had reached its latest year-to-date high at...Read More

Chilean copper producer Codelco has agreed a 36-month labor deal with unions representing management and employees at its headquarters in Santiago the state-run company said on Monday May 24.The world's largest copper producing company had offered no pay rises, but a bonus of 1.5 million Chilean pesos ($2,068) for those agreeing to the labor deal."The successful negotiation adds to [other] deals r...Read More