Gold declined yesterday, or I shouldsay, it rushed down at breakneck speed. And while it might have been a surprisefor some, it wasn’t for me.However, we should stay alert to anypossible changes, as no market moves in a straight line. Tread carefully.On a side note, while I didn’t check itmyself (well, it’s impossible to read every article out there), based on thecorrespondence I...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
Domestic prices for hot-rolled coil in Europe increased in the week to Friday June 18, despite a trading slowdown that resulted from both buyers and sellers holding back from deals.Only a few mills were active in the market and they only had limited volumes on offer, so buyers who needed to re-stock specific material had to accept the higher prices available, sources said.Buyers, in the meantime,...Read More
The price of nickel was the best performer among base metals on the London Metal Exchange on Monday June 21 on account of a softer US Dollar Index, with all prices rebounding during afternoon trading after the sharp selling in the week ended June 18.Nickel rose by the most, up by 1.7% to $17,450 per tonne at 5pm compared with its closing price on Friday of $17,154 per tonne, which was a 7.2% drop...Read More
Buyers are accepting higher prices for hot-rolled coil from European mills, but the number of offers and traded volumes remain limited, sources told Fastmarkets on Monday June 21.German and other Northern European producers were reportedly holding back from making new offers because their order books are good and they prefer to take their time before providing new prices to buyers. The region's st...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycle 8,000 tonnes of EV batteries per year when ramped up - making it one of Europe's top p...Read More
The price of nickel was the best performer among base metals on the London Metal Exchange on Monday June 21 on account of a softer US Dollar Index, with all prices rebounding during afternoon trading after the sharp selling in the week ended June 18.Nickel rose by the most, up by 1.7% to $17,450 per tonne at 5pm compared with its closing price on Friday of $17,154 per tonne, which was a 7.2% drop...Read More
Iron ore prices fell across the board on Monday June 21 because limited demand for steel weakened sentiment for the steelmaking raw material, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $208.15 per tonne, down $10.75 per tonne 62% Fe low-alumina fines, cfr Qingdao: $210.00 per tonne, down $10.24 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $175.53 per tonne, do...Read More
Singapore's DBS has commenced trading as a Category 4 member on the London Metal Exchange, the bank said on Monday June 21.It is the first bank in Asia to have a remote membership with the LME outside of London, it said."With the new membership, DBS' corporate clients in Singapore, China, India, Indonesia, Korea and Hong Kong will have access to a comprehensive suite of hedging and financial solut...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.Copper will play a pivotal role in the energy transition. Aluminium may be an abundant and cheap competitor for electrification applications, but carbon footprint issues for primary metal may give copper the edge. Ultimately that poin...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
Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycle 8,000 tonnes of EV batteries per year when ramped up - making it one of Europe's top p...Read More
RAPAPORT... Diacore has revealed that it was the buyer of a 204.36-carat, yellow diamond that sold for $5 million at Christie's New York earlier this month.Known as the Dancing Sun, the VVS2-clarity stone is the largest polished diamond of North American origin, the dealer and manufacturer said last week. It was cut from a 552.74-carat rough unearthed at the Diavik mine in Canada in 2018. Chr...Read More
RAPAPORT... Sotheby's will auction a massive flawless diamond valued at up to $15 million next month, making the rare move of accepting payment in cryptocurrency. The pear-shaped, 101.38-carat, D-color diamond, known as The Key 10138, will feature in a single-lot live auction in Hong Kong on July 9, Sotheby's said Monday. The diamond is the first jewelry piece for which the company is accepting di...Read More
RAPAPORT... Alrosa's shareholders elected a new supervisory board last week, with independent directors now accounting for a third of the team.The number of independent members in the 15-person board grew to five from three following a vote at an annual general meeting on June 16, the miner said Thursday.At its next meeting, the board will select the new chairman and appoint members to compan...Read More
The domestic market for flat steel in Russia's Central Federal District around Moscow was largely stable in the week to Monday June 21, with most sources expecting either a rollover or even a downward correction in the short term, Fastmarkets heard.Buying activity in the region slowed, partially affected by a weaker export market and unclear sentiment.A new spike in the numbers of Covid-19 cases i...Read More
(IDEX Online) - Two friends of an illegal diamond panner in Zimbabwe have admitted murdering him 12 years ago - after being haunted by his "avenging spirit".They have finally revealed that Welldone Mutangabende was not the crushed in a mineshaft collapse in the Marange diamond fields, as it had appeared at the time.John Muchinganwa and Willard Kushanya have now admitted staging the "accident" afte...Read More
(IDEX Online) - The stones that triggered a "diamond rush" last week in South Africa are nothing more than worthless quartz, say officials.An estimated 3,000 fortune seekers converged on fields outside KwaHlathi, in KwaZulu-Natal province, armed with picks, shovels and forks after word spread on social media.A team of geoscientists and mining experts confirmed yesterday that the stones were quartz...Read More
(IDEX Online) - It started as an April Fool's joke - but Tiffany & Co really is replacing its iconic robin-egg blue with a bright yellow house color. At least in some locations, and for a limited period.The Rodeo Drive store, in Beverly Hills (pictured) has had a (temporary) yellow makeover and selected outlets globally will follow suit.Tiffany & Co fooled some of its Instagram f...Read More