Three-month base metals prices on the LME were mostly lower at the close of trading on Wednesday June 24, with thin turnover a key sign that investor sentiment remains fragile. Nickel's outright price on the London Metal Exchange was worse off this afternoon, falling by 1.26% to close at $12,547 per tonne, its lowest closing price since May 29, while turnover was at just 3,931 lots by th...Read More

Spot lead demand in Southeast Asia is still lackluster despite lockdown easing across Vietnam, Malaysia and Indonesia, while interest in spot zinc units was minimal in all regions, which left premiums unchanged in the week to Tuesday June 23. A backlog of uncleared lead cargoes sit in Indian ports in the fourth week of June, a time that typically would have been a peak production period for batter...Read More

Cost pressures kept China's domestic rebar prices from falling further on Wednesday June 24 despite a pessimistic outlook for demand in the next two months amid high production rates.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($504-508) per tonne, unchangedGross profits for rebar producers that operate blast furnaces have fallen to around 100 yuan per tonne of gross profit, 50 yuan per to...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Poised for a technical breakoutFears over a second wave of Covid-19 continue to grow, forcing prices of aluminium and the other base metals to take a pause. Our base-case scenario is that countries will respond more efficiently to contain the virus spread, so economic activity and metal demand should continue to r...Read More

Supply is down and is expected to continue declining, which seems somewhat counterintuitive as silver's price has dropped at the same time...by Chris Marcus of Arcadia EconomicsThe latest SLV and ETF silver data is out, and once again, there were significant new (alleged) inflows into the trusts.What's further interesting, is that this is happening at a time when supply is down, and is expected to...Read More

Get up-to-speed from the 1980s to the present day. The unwind will be spectacular...by J. Johnson with Jim Sinclair, Bill Holter and Ted Butler via JS MinesetWe had the privilege to interview Ted Butler this weekend. For those interested in the history of the ongoing silver scam, Ted Butler brings us all the way back to the 1980's up to present day. The unwind will be spectacular!Read More

With COMEX gold getting very near new 2020 highs, concern is growing that COMEX silver is not coming along for the ride... by Craig Hemke via Sprott Money NewsWith COMEX gold getting very near new 2020 highs, concern is growing that COMEX silver is not coming along for the ride. Let's give it a few days and then check back.Let's start with COMEX Digital Gold. Recall that prices surged with the on...Read More

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Three-month base metals prices on the LME were mostly lower at the close of trading on Wednesday June 24, with thin turnover a key sign that investor sentiment remains fragile. Nickel's outright price on the London Metal Exchange was worse off this afternoon, falling by 1.26% to close at $12,547 per tonne, its lowest closing price since May 29, while turnover was at just 3,931 lots by th...Read More

The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise. And that's how Neil Herrington, senior vice president for the Americas, US Chamber of Commerce, views reports that the US administration is c...Read More

RAPAPORT... An Israeli diamond cutter with 45 years of experience in the trade turned to a surprising source of income when his business floundered due to Covid-19: driving a garbage truck.The story of Atzmon Breitbart might sound more worrying than inspiring. But the 66-year-old says he made the move mainly to avoid sitting idle - and prays he'll be able to return to diamonds when the pandemic is...Read More

RAPAPORT... A 3.01-carat, fancy-vivid-blue diamond ring, carrying a high estimate of $6.3 million was among a number of headline items that failed to find buyers at Sotheby's Geneva auction.Sotheby's withdrew the stone from Tuesday's Magnificent Jewels and Noble Jewels Part II at the request of the consigner, it told Rapaport News Wednesday. The sale, which achieved a total of $12.4 million, was t...Read More

RAPAPORT... The coronavirus cost BlueRock Diamonds GBP 550,000 ($690,000) as sales slumped and the closure of its Kareevlei mine added to its expenses, the company reported Monday.The amount includes an estimated GBP 100,000 ($125,000) of lost revenue, with the weak market forcing the company to withdraw its rough goods from a tender in March, and offer a 15% discount in June, it explained. I...Read More

(IDEX Online) - A diamond worker reportedly jumped to his death from a sixth-floor window at the Bharat Diamond Bourse, in Mumbai, India, on his first day back after lockdown. He's been named by local media as Jay Lakhiya, aged 20.He'd arrived from his home in Surat to resume work at the bourse, in the Bandra Kurla Complex (pictured) on Tuesday.Police investigating the death say he...Read More

Chinese copper premiums continued their uptrend in the week to Tuesday June 23, with market participants noting brand-dependent demand as a driver for the latest increases, while US and European premiums were unchanged in illiquid markets. Brand-dependent, near-term demand strengthens Shanghai premium  Sellers continue to dominate in Europe  Sluggish US spot market hinders premium moveme...Read More

here(IDEX Online) - New software will help jewelers comply with anti-money laundering (AML) requirements of the anti-terror USA PATRIOT Act.The JewelPAC online program has been developed by the Jewelers Vigilance Committee (JVC) and is hosted by insurers the Jewelers Mutual Group.It's designed to save time and provide peace of mind for the vast majority of US jewelers required to implement po...Read More

Netherlands-based aluminium producer Aldel has signed a partnership with solar park operator Ecorus to help accelerate the development of solar power infrastructure in the region, the producer announced on Tuesday June 23.Ecorus is developing a solar power park on a site near to Aldel's smelter at Delfzijl, and the partnership will allow it to feed the entire peak output of 4.5MW from the site int...Read More

(IDEX Online) - Diamond factories in Surat should close for a week to combat a spike in COVID-19 cases, say industry bodies.Three units have been forcibly closed after workers were diagnosed with the virus and 10 others have suspended work voluntarily.The Gems & Jewellery Export Promotion Council (GJEPC) and the South Gujarat Chamber of Commerce and Industry (SGCCI) have jointly appealed for a...Read More

Crude steel production in Germany fell by 27% year-on-year in May 2020, following a 24% drop in April due to output adjustments made by mills to address the Covid-19-driven deterioration in steel demand, German steel federation WV Stahl said on Wednesday June 24.Germany's mills produced 2.56 million tonnes of crude steel in May, down from 3.51 million tonnes in the corresponding period of 2019, WV...Read More

Steel billet producers from the Commonwealth of Independent States (CIS) reduced their offers early this week on a lack of demand in Asia as well as in nearer markets, Fastmarkets learned.Offers from several Russian mills were heard at $370-375 per tonne fob Black Sea earlier this week against $380-385 per tonne fob last week.One source said a Ukraine-based producer offered material to customers i...Read More