The latest forecasts from Fastmarkets' team of analysts is ready to view.Oversupply to persist in North America as demand slumpsPrices for welded oil country tubular goods (OCTG) and linepipe weakened further in April nearing historical lows, and there may be room for further pipe price retreat through the second quarter. Supply of ERW OCTG and line pipe is expected to continue to outpace demand f...Read More

Copper production will be reduced by 73,300 tonnes in Chile this year due to the Covid-19 pandemic, the country's minister of mining, Baldo Prokurica, said in a television interview on Thursday April 29."We are one of the less hit countries in comparison with other copper producers," Prokurica told Emol TV. "We have been hearing 25-30% production cuts [around the world], which hopefully will prese...Read More

Deliverable stocks of base metals in Shanghai Futures Exchange-approved warehouses all declined in the week ended Thursday April 30, with those for copper decreasing the most in percentage terms. SHFE copper stocks totaled 230,956 tonnes on April 30, declining by 28,081 tonnes or 10.8% from 259,037 tonnes on April 24 amid continued supply disruptions and a recovery in demand. This week, the...Read More

Key pricing data from the pricing session for Fastmarkets' alumina index, fob Australia on Thursday April 30. Fastmarkets' daily alumina index, fob Australia moved up to $241.37 per tonne on Thursday from $233.93 per tonne the previous day. The index is now at its highest since April 1 when it was at $241.52 per tonne. Key drivers:  Three new deals concluded Thursday, with two destined f...Read More

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

KAZ Minerals has delayed the start of production at its $1.2 billion Aktogay copper expansion project in Kazakhstan to late 2021, citing the impacts to its supply chain of the Covid-19 pandemic. The company has also cut its capital expenditure for the project this year to $300-350 million from $400 million previously forecast. KAZ Minerals had spent $663 million on the project by the end of 2019,...Read More

Domestic steel beam prices in the United States slipped in April on weaker demand and price reductions by mills, while import prices edged slightly higher in the face of collapsing demand due to foreign mills resisting price cuts. Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US fell to $35.25 per hundredweight ($705 per short ton) on Thursday April 30, down by $1.25 (...Read More

RAPAPORT... The Rapaport TradeSheet provides Rapaport Discount Prices with percentage discounts in relation to the Rapaport Price List. The discount prices reflect our opinion of prices at which natural diamonds meeting Rapaport Specification A3 are available for sale. This is the same specification used for the Price List.The format of the TradeSheet includes prices from the current Rapaport Pric...Read More

A free-falling domestic flat-rolled steel market has sent more pressure to the foreign mills that are shipping their steel products to the docks in the United States, resulting in further declines on prices of most imported flat steel products.US hot-rolled coil prices crashed below $23 per hundredweight ($460 per short ton) this week despite an expected increase in ferrous scrap prices in May.&nb...Read More

Diamond trading limited as some centers start to ease lockdown restrictions. Dealers and manufacturers focusing on how to reduce inventory, with more than enough rough and polished in the pipeline to satisfy demand. Outlook uncertain as US economy shrinks 4.8% in 1Q. Miners cut 2020 production plans and India prepares voluntary 30-day pause in rough imports. Marketers to focus on bridal as pandemi...Read More

RAPAPORT... De Beers has contributed $200,000 to assist women's shelters and support organizations in its diamond-producing countries during the COVID-19 pandemic.The money, which will be split evenly between Botswana, Canada, Namibia and South Africa, will help women and children whose vulnerability to domestic violence has increased due to local lockdowns, De Beers said Wednesday."As the wo...Read More

Latin American steel group Ternium expects the Mexican automotive industry to "gradually" restart operations in May, chief executive officer M??ximo Vedoya said on Wednesday April 29.Automakers in Mexico have stopped operations since late March because of the spread of Covid-19. "The automotive industry's value chain in US and Mexico is highly integrated and it demands synchronized production in b...Read More

RAPAPORT... A gem-set, diamond and enamel tutti frutti bracelet by Cartier garnered $1.3 million at Sotheby's, the highest price for any jewel sold in an online auction.The piece, which features a selection of old European and single-cut, VS- to SI-clarity, F- to I-color diamonds, surrounded by rubies, emeralds and sapphires, smashed its high estimate of $800,000, the auction house said Wedne...Read More

A summary of the financial results for Turkey's largest steelmaking group, Erdemir, for January-March 2020.In briefEarnings before interest, taxes, depreciation and amortization (Ebitda)1,068,037,000 Turkish lira ($153.07 million*), down by 38.36% from 1,732,790,000 lira in January-March 2019.Q1 2020 production, salesCrude steel production2.232 million...Read More

(IDEX Online) - The fourth De Beers Sight of the year will go ahead in Botswana next week as planned, unlike the previous one, which was canceled at the last minute. But few of the 80 Sight holders are expected to attend, because of widespread travel restrictions. It is understood that because of the coronavirus crisis, the miner will allow 100 per cent deferrals. The third Sight of the year (30 M...Read More

RAPAPORT... De Beers is allowing rough-diamond customers to skip all purchases at next week's sight, as shutdowns of manufacturing and retail markets have led to minimal demand.The sight will be the second consecutive sale at which the miner has allowed clients to push their allocations to later in the year. Appetite for rough is at rock bottom as the trade seeks to avoid taking on unsellable...Read More

Indian steel mills are unlikely to cut domestic hot rolled coil prices for sales in May, private mill sources in the country told Fastmarkets this week."We are likely to continue with current prices for the next month,," an official from a private sector mill said, "[because] any reduction in prices will [lead to] a big loss to our dealers and distributors."Fastmarkets' price assessment...Read More

(IDEX Online) - Bharat Diamond Week is going digital after organizers were forced to cancel the physical event, scheduled for August, because of coronavirus. Buyers and sellers at the "diamond-only" show will be able to meet on a secure digital platform. The Bharat Diamond Bourse (BDB) canceled the three-day event because of travel restrictions but says it wanted to provide the industry with a muc...Read More

The Russian Steel Association has called for equal access to the country's railway infrastructure so that its members can export goods to eastern destinations, according to a local news report published earlier this week.Russian Steel unites the country's largest mining and steel companies.It filed an appeal to Russia's first deputy prime minister, Andrei Belousov, asking him to ensure that there...Read More

Latin American steel group Ternium expects to delay the start-up of some projects in order to preserve cash during the Covid-19 pandemic.The company will delay start-up of a hot-rolling mill in Pesquer?-a, a northeastern Mexican city near Monterrey, Mexico, to April 2021.The company previously planned a fourth-quarter 2020 launch of the new hot-rolling mill, which is designed to hav...Read More