Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More

If we're going down into the teens for one last time, then...(by Half Dollar) We're close to finding out if I'll be right about my call.I will be the only person who will have been right about that, of course.If you need proof, just read my articles in chronological order starting from late January of this year.Regardless, let's take a moment to review current silver "market" conditions.Silver has...Read More

A combination of concerns over the spread of the delta variant of Covid-19, a sturdy dollar index and falling US equities triggered a sell-off in London Metal Exchange prices during the afternoon's trade on Monday July 19.Nickel's three-month price showed the biggest drop of the day, down by 3.2% at the close to $18,462 per tonne, from Friday's $19,070 per tonne price at the same time."Nickel pric...Read More

The London Metal Exchange launched new lithium and aluminium premium futures contracts on Monday July 19, which are cash-settled against Fastmarkets' assessments.The lithium contract will be cash-settled against Fastmarkets' price assessment for lithium hydroxide monohydrate, 56.5% LiOH.H2O min, battery grade, spot price, cif China, Japan & Korea. Fastmarkets' most recent assessment for this price...Read More

Iron ore prices eased on Monday July 19 amid weaker market sentiment caused by restrictions on sintering and emissions imposed on mills in the steelmaking hub of Tangshan, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $221.04 per tonne, down $0.39 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.02 per tonne, down $0.37 per tonne58% Fe fines high-grade premium, cfr Qingd...Read More

Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR?  US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR?  Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More

Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More

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

RAPAPORT... Diamond production at the Diavik mine in Canada dropped 12% year on year in the second quarter amid the recovery of lower-grade ore, according to part owner Rio Tinto.Diavik yielded 1.4 million carats for the three months ending June 30, with higher processing volumes failing to offset the lower ore grades coming from the mine's underground portion, Rio Tinto said last week.Rio Tinto's...Read More

RAPAPORT... Australian jeweler Michael Hill reported a rise in revenue during the fourth fiscal quarter amid the reopening of a number of its stores and a sharp increase in online sales.Group sales soared 116% to AUD 116 million ($85.5 million) in the three months ending June 30, the company said last week. Same-store sales - at branches open more than a year - grew 7.5%. During the period, Michae...Read More

Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More

RAPAPORT... Belgium's polished-diamond exports rose 58% year on year to $739 million in June as the industry continued to recover from last year's drops.However, the rebound in polished trading was gentler than in rough, the Antwerp World Diamond Centre (AWDC) said Friday. "Since the outbreak of the pandemic, there have been no trade shows whatsoever, which traditionally create a lot of movem...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More

(IDEX Online) - Free Covid vaccines are being given to 5,000 diamond artisans in Mumbai, India, following an industry-wide Diamond Aid appeal.It was launched in April after a catastrophic spike in Covid fatalities. The World Federation of Diamond Bourses (WFDB) pledged urgent action to help hospitals in the manufacturing and trading hubs of Surat and Mumbai.The campaign raised "many tens of thousa...Read More