Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More
How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More
When this day come, and current spreads may signal that it's coming sooner rather than later, the price discovered for physical gold and silver will... by Craig Hemke via Sprott Money NewsA Crisis of Confidence, Part Two - Craig Hemke (May 19, 2020)Back in March and April, a chasm opened between the dollar price of spot gold (XAU) and the front month COMEX futures contract. So-called experts reas...Read More
Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Email | Stitcher | RSSJust like we saw in gold in March, unnatural things are happening in silver right now, and widening spreads are just one of the things that have our attention...Craig Hemke of TF Metals Report interviewed by Half Dollar of Silver DoctorsBack in March, we saw some crazy developments in the paper versus...Read More
The smooth flow of material from South Africa will remain uncertain for a considerable period even after the country eased its restrictions on activity in response to the Covid-19 virus. South Africa entered lockdown on March 26, which severely tightened exports of 37% manganese ore, UG2 chrome ore and foundry grade chromite, among other materials. The government has since granted permission for m...Read More
China Iron & Steel Association (Cisa) forecasts the country could post a decline of 16 million tonnes in steel exports in 2020 amid the Covid-19 pandemic, sources told Fastmarkets. The association convened with several major mills on May 12 to address concerns of the country's rising imports against falling exports in the steel industry, two sources familiar with the meeting said. Steel export bus...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 20.Please click...Read More
The London Metal Exchange three-month copper price closed trading on Wednesday May 20 higher, on optimism of a possible slowing in the coronavirus-related economic downturn and while buying in the LME drove the price up and reduced arbitrage profits.LME copper's outright price closed at $5,442.50 per tonne on Wednesday afternoon, climbing over 1.6% from an intraday low of $5,328 per tonne, while t...Read More
The seaborne price indices for coking coal rose further on Wednesday May 20, except for the premium hard coking coal cfr China index. There was active trading in the seaborne market with several transactions reported.Fastmarkets indicesPremium hard coking coal, fob DBCT: $118.98 per tonne, up by $2 per tonne.Premium hard coking coal, cfr Jingtang: $124.62 per tonne, down by $0.29 per tonne.Hard co...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Early signs of post-lockdown demand recoveryWith major economies outside China reopening after the easing of their Covid-19-related restrictions on movement and industrial activity, last week's jump in the number of cancelled aluminium warrants on the London Metal Exchange may be an early sign that the post-lockdo...Read More
This episode features the Q&A portion of Cameco's Q1 conference call that took place on May 1, 2020. Cameco president and CEO Tim Gitzel and vice-president and chief financial officer Grant Isaac discuss the impact of the coronavirus on uranium prices, as well as the difficulty the company has in obtaining an accurate uranium spot price, M&A and its ongoing tax dispute with the Canadian Revenu...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
RAPAPORT... How we manage disruption and upheaval will always be a defining moment. And the lessons we learn during these challenging times will be vital to our future longevity. What we have experienced as an industry over the last several months is unprecedented. Now that we are slowly emerging from the peak of this crisis, it is time to understand what the COVID-19 pandemic can teach us.On...Read More
RAPAPORT... Swarovski has appointed Giovanna Battaglia Engelbert as its first creative director as part of the company's new business realignment.Engelbert, who has worked as a creative director, international editor and fashion consultant for luxury brands for more than 20 years, was already serving as a creative consultant for Swarovski's business-to-business (B2B) division, the crystal mak...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 20.Please click...Read More
RAPAPORT... The Indian diamond trade has postponed its one-month freeze on rough imports until June 1 to give companies more time to complete outstanding shipments.The Gem & Jewellery Export Promotion Council (GJEPC) and four other industry bodies had originally called for a pause in imports from May 15. They announced the plan on April 23, allowing around three weeks to import goods they...Read More
(IDEX Online) - First Lady Melania Trump traded up the 15-carat Graff diamond engagement ring Donald gave her, for an even bigger and more expensive rock. The president-to-be gave her a premium D-color, FL, emerald-cut diamond ring, before they wed in 2005. But the former Solvenian model, aged 50, later had the stone replaced with a 25-carat diamond, according to British newspaper The Daily Expres...Read More
Many of Surat's diamond factories will not survive COVID-19, industry sources have warned, as India's went into "Lockdown 4.0". As many as 90 per cent of the city's 5,000 units are small, unregistered and vulnerable. They're also less able to implement any kind of social distancing rules, likely to be implemented when lockdown eases.The nature of cutting and polishing typically...Read More
The London Metal Exchange three-month copper price closed trading on Wednesday May 20 higher, on optimism of a possible slowing in the coronavirus-related economic downturn and while buying in the LME drove the price up and reduced arbitrage profits.LME copper's outright price closed at $5,442.50 per tonne on Wednesday afternoon, climbing over 1.6% from an intraday low of $5,328 per tonne, while t...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Early signs of post-lockdown demand recoveryWith major economies outside China reopening after the easing of their Covid-19-related restrictions on movement and industrial activity, last week's jump in the number of cancelled aluminium warrants on the London Metal Exchange may be an early sign that the post-lockdo...Read More