The Commodity Futures Trading Commission (CFTC), a US commodities regulator, is analyzing what led the crude oil price to move into negative territory last month, including an assessment of market participant activities and whether position limits and other regulations might need to change.The move could add impetus to the CFTC's proposal to impose federal position limits in 25 energy, metals and...Read More
The three-month zinc price on the London Metal Exchange maintained upward momentum at the close of trading on Thursday May 7, settling above the nearby $2,000 per tonne resistance level for the first time in over a month, while steady buying in copper saw price action similarly incline over the afternoon. Zinc's underlying price on the LME closed at $2,003.50 per tonne at the 5pm London close on T...Read More
And can the hesitant moves in gold last much longer?by Przemyslaw Radomski via Sunshine ProfitsPrecious metals haven't moved all that much on Wednesday, but is it time to get complacent? The wait continues... PMs declined yesterday, but the move was nothing to call home about. Still, it was more or less in tune with what we saw in March - provided that one takes into account the lower volatility i...Read More
Steady buying of the three-month zinc contract on the London Metal Exchange took the price above $2,000 per tonne on Thursday May 7 for the first time since March 11. Zinc's outright price on the LME was recently at $2,008.50 per tonne, building on gains made over Wednesday afternoon, while turnover was high at some 4,000 lots exchanged by 10am London time. This comes despite well-stocked LME zinc...Read More
Aluminium billet premiums around the globe were unchanged on Thursday May 7 due to low liquidity and poor demand across all regions.European consumers begin to reopenUS premium at all-time lowBrazilian market uneventfulAsian market quietPremiums in Germany, Italy at record lowsDemand for aluminium billet in Europe remained poor this week, with limited spot deals reported to Fastmarkets.Fastmarkets...Read More
While global long steel production is expected to recover quicker than demand, which could put pressure on market prices, the outlook for the next quarter is unstable due to a lack of demand and low pricing, the International Rebar Producers & Exporters Association (Irepas) said this week.Supply and demand have worsened in the European Union due to a lockdown among most world economies.It is...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 outbreak of coronavirus, the oil price crash and the impending global recession present an enormous challenge for energy and natural resources. How are you keeping up with the spread of Covid-19 and its impact on your sector?Wood...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.Why is zinc expected to see significantly higher zinc prices later this decade?A spate of scheduled mine closures, an underdeveloped project pipeline and steady demand growth is expected to provide the basis for significantly higher z...Read More
Trading limited but sentiment up slightly as Antwerp prepares to reopen trading floors on May 11. Select services returning to Israel Diamond Exchange. New York still on lockdown, restricting US diamond activity. 1 ct. RAPI +0.2% in April. Manufacturers curtailing rough purchases to ease liquidity pressure and focus on depleting polished inventories. Alrosa expected to reduce 2020 production guida...Read More
RAPAPORT... Mountain Province reported a loss in the first quarter as the stronger US dollar led to an increase in the miner's debts.The company posted a net loss of CAD 41 million ($29.1 million), compared with a profit of CAD 2.5 million ($1.8 million) in the same period of 2019. The appreciation of the US currency against its Canadian counterpart had a negative impact of CAD 30.8 million (...Read More
RAPAPORT... Lightbox, De Beers's lab-grown diamond jewelry brand, has delayed commissioning its new facility in Portland, Oregon, by a few months due to the COVID-19 pandemic."The building itself and plant infrastructure [are] already complete, and we are now in a phase of installing and commissioning the deposition equipment," Lightbox CEO Steve Coe said in an email to Rapaport News. "To ens...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.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...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.Different markets, different cycles. Mining companies suffered for their sins in the downturn a little earlier than the oil and gas sector. Now they are emerging into a new upturn, also ahead of the game. What challenges do...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.What have I got to do to make you love me? What have I got to do to make you care?You can imagine the Majors' CEOs musing over Elton John's lyrics, wondering what it takes to win over investors after the stock market's dismissive rece...Read More
RAPAPORT... Jared will offer free virtual weddings to 1,000 couples who had to cancel or postpone their events due to the COVID-19 pandemic.The jeweler will begin holding the ceremonies, which are part of its #LoveCantWait campaign, at the end of May, it said Monday. The Signet Jewelers-owned banner will allow the couples to design a customized wedding, including selecting their own date, the...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.As electric vehicles have grown in popularity, increasing attention has been placed on raw materials such as lithium, cobalt and nickel for batteries, but the story extends further.Fully electric vehicles will require four times...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. Building a case for long-term sustainability'Underwhelmed' sums up investors' indifferent response to the Majors' Q1 results. The flicker of positive share price movement barely made an impression on the collective 16% underperf...Read More
(IDEX Online) - Organizers have axed the iconic Baselworld watch and jewelry show for 2021 after an exodus of big-name exhibitors and the launch of a rival event.Its future had been in doubt since its canceled its April 2020 event because of COVID-19. Many exhibitors were angered by its refund policy of what was once one of the watch industry's top showcases, and by the January 2021 date...Read More
RAPAPORT... The organizer of Baselworld has called off the next edition of the show, scheduled for January to February 2021, following a revolt over timing and refunds.MCH Group said it had reached an agreement with exhibitors and drawn up an "amicable solution" that had gained support from industry associations."In light of the large loss of revenue due to COVID-19, and our responsibility to...Read More
(IDEX Online) - De Beers boss Bruce Cleaver says India could lose out to China and Thailand if diamond cutting does not resume soon. The CEO echoed the message of an open letter he penned earlier this week, in which he said the supply of rough diamonds must flow freely again as soon as possible.That puts him starkly at odds with industry leaders in Surat, who have asked for a month-long volun...Read More