The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 7.Please click...Read More

Turkish steel mills continued to book deep-sea scrap for August shipment at slightly higher prices, market sources said on Thursday July 8.A steel mill in the Iskenderun region booked a US cargo, comprising HMS 1&2 (90:10) at $498 per tonne, shredded and plate & structural (P&S) at $516. The composition of the cargo was not shared by the parties involved. This compares with deep-sea bookings heard...Read More

Polished trading seasonally slow due to US summer vacations. Market optimistic for holiday season. Steady demand, shortages and high rough costs supporting prices. 1 ct. RAPI +2.7% in June. Cutters under pressure to raise production but concerned about rough valuations ahead of De Beers' July 12 sight. Kimberley Process reports 2020 global rough production -32% to $9.24B, volume -23% to 107.1M cts...Read More

RAPAPORT... Global rough-diamond production slumped last year, new data showed, as miners slashed output in response to the Covid-19 pandemic.The total value of diamond recoveries slid 32% to $9.24 billion in 2020, according to figures the Kimberley Process (KP) released recently. Production volume dropped 23% to 107.1 million carats, while the average price fell 12% to $86 per carat.De Beers...Read More

RAPAPORT... Lucapa Diamond Company's cutting and polishing partnership with Graff subsidiary Safdico paid off in the second quarter, driving a sharp increase in sales amid a recovery in the rough market.Safdico, a manufacturer, has the right to purchase up to 60% of goods from Lucapa's Lulo deposit, with the miner receiving some of the proceeds from the polished sales.In the second quarter, the mo...Read More

RAPAPORT... Cutting through the corporate jargon that is typical of its earnings reports and strategic plans, Signet Jewelers - under the leadership of CEO Gina Drosos - has a clear vision of its objectives and the role it plays in the sector."We want to be - and to lead - the change we want to see in our industry and in the world," Drosos wrote in the company's annual report for fiscal 2021,...Read More

(IDEX Online) - Attendances at this year's big trade shows in Las Vegas may be hit by Covid-caution and a shift of dates from early June to late August.Just over half (54 per cent) of the 515 people surveyed by National Jeweler magazine said they expected to be there for JCK Las Vegas, as well as  Luxury by JCK, AGTA GemFair, and the Las Vegas Antique Jewelry & Watch Show.By comparis...Read More

(IDEX Online) - De Beers Canada has admitted failing to report levels of mercury in water systems around its disused Victor diamond mine.The case was brought as a private prosecution by Ecojustice, a non-profit environmental law organization that provides funding to lawyers to use litigation to defend and protect the environment.It said De Beers had failed to report mercury and methylmercury level...Read More

Alcoa will supply low-carbon primary aluminium to WKW Extrusion's Erbsl??h Aluminium for its new brand of semi-finished extrusion alloys, the US producer said.Germany-based Erbsl??h Aluminium will use Alcoa's low-carbon EcoLum for its own Newtral brand of alloys. According to Alcoa, the new brand is designed with a specific focus on reducing carbon dioxide (CO2) emissions for customers in the auto...Read More

Base metals prices on the London Metal Exchange were down across the board on the morning of Thursday July 8, after a period of dip-buying activity saw prices rise on Wednesday."We are seeing strong selling pressure in the London Metal Exchange base metals complex today," Fastmarkets analyst Andy Farida said this morning. "Judging by the price action of all the base metals, the rebound seen on Wed...Read More

Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 8, after the United States Federal Reserve's latest minutes showed a slight pick-up in hawkishness.China is looking to cut the bank reserve requirement ratio (RRR), suggesting the authorities think the economy needs supportBase metalsLondon Metal Exchange three-month base metals prices were mixed on Thursday July 8,...Read More

China's domestic stainless steel prices softened over the week to Wednesday July 7 on losses in the nickel market and a drop in demand, though participants expected this to be temporary.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $18,317 per tonne, down by $123 per tonne from $18,440 per tonne a week earlier.DomesticStainless stee...Read More

Hot-rolled coil prices in the United States fell a day after surging above $90 per hundredweight ($1,8080 per short ton) for the first time, with market participants predicting that any declines will be temporary.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $89.47 per hundredweight ($1,789.40 per short ton) on Thursday July 8, down 1.23% from $90.58 per cwt on Wedn...Read More

Steel reinforcing bar prices in the United States' domestic market were steady again this week, with market sentiment mixed regarding what might come next.Fastmarkets' weekly assessment for steel rebar, fob mill US was at $48 per hundredweight ($960 per short ton) on Wednesday July 7, unchanged since June 16 but up by 9.09%% from $44 per cwt on June 2.US marketSupply remains tight, marke...Read More

US flat steel import prices have again climbed to record highs, with buyers in the United States competing with those in other countries to purchase material in a tight global market."Imports are getting more and more attention, but there is not a lot of availability," an East Coast distributor said.Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston was at $1,650-1,700 per shor...Read More

There was little activity in Egypt's steel rebar and billet markets in the week to Thursday, July 8, with market participants awaiting confirmation of changes to the country's import duties, sources told Fastmarkets.Egypt's Ministry of Trade & Industry is currently considering whether to remove or reduce import duties on steel because of the current high prices for long steel products and a shorta...Read More

European hot-rolled coil prices edged up on Thursday July 8, despite slow trading activity, supported by still-limited supplies, sources told Fastmarkets.Sufficient stocks at distributors, as well as full credit lines, were the main reasons behind the lack of trading activity, sources said. Buying interest remained subdued, with customer largely holding back and making only hand-to-mouth bookings...Read More

Iran's steel output will be negatively affected by severe power shortages that started in June and still remain an issue, market participants said.Iran Power Generation, Distribution & Transmission Co (Tavanir) ordered steel and cement production factories to reduce electricity consumption starting Tuesday July 6, local news provider Financial Tribune reported on July 7."Iranian mills are ins...Read More

Turkey's import and domestic billet prices have increased over the past week due to stronger demand, market participants told Fastmarkets on Thursday July 8.Suppliers in the Commonwealth of Independent States region have increased their offers to Turkey ahead of the introduction of Russia's export duty on August 1.The Russian government has approved temporary export duties on 340 steel and no...Read More