Sales of watches and jewelry in the US during May were up a third on the same month in pre-Covid 2019. Year-on-year they more than doubled, by 106.9 per cent, but that figure needs to be treated with caution. The actual dollar spend for May 2021 was $115.1m, compared with $52.7m in 2020 and $76.3m in 2019, before the pandemic. Sales for May 2021 are up 33.7 per cent on May 2019. April 2021 showed...Read More

Steel rebar prices in northern Europe edged up in the week to Wednesday July 21 despite a seasonal slowdown in buying activity, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?890-930 ($1,049-1,096) per tonne on July 21, up from ?,?880-930 per tonne. This marks its highest level since Fastmarkets start...Read More

(IDEX Online) - Antwerp's rough trade was up by 11 per cent in the first half of this year to $10.4bn, compared with same period in pre-Covid 2019.The polished trade is "lagging behind" - at $7.4bn for H1 2021 - hit by the compete lack of trade shows and India's devastating third wave of coronavirus.But the Antwerp World Diamond Centre (AWDC) said it was showing signs of recovery, with t...Read More

China's electricity system is particularly stretched this summer, so aluminium, zinc and lead smelters have received repeated notices for several weeks that they should restrict power use, and many are not still seeing an end to the situation, Fastmarkets has learnt."Power consumption limits will be a recurring issue for Chinese smelters, [and] not only for summer. [They are] likely to be extended...Read More

Dwindling spot supply of rounded forms of nickel in the United States sent the US briquette premium to an all-time high in Fastmarkets' assessments. Fastmarkets began assessments by shape, rather than grade, in March 2018.Strong global briquette demand, reduced spot supply to the US, and "spiraling" ocean freight costs are all boosting premiums for the form, now said to  barely be found in th...Read More

European lead smelter Berzelius Metall has declared force majeure on supply contracts after floods that have caused chaos in northern Germany and Belgium forced the closure of its Stolberg smelter.Fastmarkets' calls to Berzelius were not answered, while an email to parent company EcoBat Technologies was not responded to by the time of publication.But sources in the lead market confirmed to Fa...Read More

The Australian-listed explorer has three 100%-owned projects, mainly covering copper, zinc and gold, as well as two partner-managed projects covering zinc, lead and gold.A recent zinc-lead discovery at the Earaheedy project in Western Australia, in which Zenith holds a 25% interest, was the catalyst for a doubling of Zenith's market cap to its current level of around A$80 million ($60 million).Ass...Read More

In its June quarter production figures, which were broadly in line with market expectations, Antofagasta said rainfall at Los Pelambres, located in Chile's Coquimbo region, 240 km north-east ofRead More

Premiums for copper cathodes in Shanghai's bonded zone traded in the week to Tuesday July 20 at their highest levels since May, while market sources in the United States speculated about possible rises.Premiums in Shanghai rise on strong domestic marketFresh pandemic concerns damp Southeast Asia demandUS premiums steady at high levels.China premium rebounds stronglyChina's import appetite for copp...Read More

The first hole, collared about 1,300m east of its Warintza Central target was drilled to 1,213m with the first 320m of core from surface assaying 320m grading 0.36% copper, 0.02% molybdenum and 0.Read More

London-listed Chilean copper miner Antofagasta maintained its annual guidance of 730,000-760,000 tonnes of copper production for 2021, despite output dipping in the second quarter.The company warned that drought conditions at its Los Pelambres mine are the worst than they have been for 12-years, and that guidance could be impacted unless rain returns.In brief: Antofagasta's copper production was 1...Read More

Premiums for nickel products in China and the United States rose in the week to Tuesday July 20 amid improved arbitrage terms and tight supply. The European premium was unchanged amid stable demand, but the outlook for the market is positive.Improved arbitrage in China stimulates sentimentSpot supply shortage pushes up US premiumEuropean market flat, but outlook is bullishArbitrage opportunities p...Read More

Hot-rolled coil prices in the United States climbed closer to $92 per hundredweight ($1,840 per short ton) on Wednesday July 21, setting a new record for the second time this week.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.78 per hundredweight ($1,835.60 per short ton) on July 21, an increase of 0.48% from $91.34 per cwt on Tuesday July 20 and 0.49% higher th...Read More

Uranium Outlook: Ready for lift off at lastSPONSOREDGalan Lithium rides electric vehicle revolutionSPONSOREDgalan lithiumGlobal Atomic is shipshape and in weather for plain sailingSPONSOREDglobal atomicDenison aims for 2022 live ISR field test at PhoenixSPONSOREDdenison minesCastillo, who will take office on July 28, won by a margin of 44,000 votes with the ONPE and National Election Jury taking 4...Read More

Galvalume prices in the United States hit a record high for the seventh consecutive month thanks to ongoing tight supply and strong demand. Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US was at $98 per hundredweight ($1,960 per short ton) on Tuesday July 20, up by 8.29% from $90.50 per cwt in June and nearly triple the $33.25 per cwt recorded in the same month las...Read More

Prices in the United States for domestic and imported carbon steel wire rod rose by $40 per ton in July, nearing an all-time high for domestic product and a record for imports.Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $55-57 per hundredweight ($1,100-1,140 per short ton) on Tuesday July 20, up by 3.70% from 53-55 per cwt on June 1...Read More

Belgian flat steel re-roller NLMK La Louviere has declared force majeure after a fire at its rolling mill, sources told Fastmarkets on Wednesday July 21.The fire at La Louviere's hot-rolling mill occurred on July 17. It was extinguished within about 30 minutes and there were no injures, according to a company spokesperson."The equipment installed during the [recent] modernization of the mill was n...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 point in pre-opening trade. Chipotle advanced $68.86 to $1,641.21 after reporting higher than consensus second quarter revenues and earnings. Netflix added $2.15 to $533.20 after the company announced plans to enter the gaming industry.Canadian National Railway slipped $0.40 to US$101.90 after reporting slightly less...Read More

The stock market bounced back today after yesterday's major losses. "Buy the dip" is alive and well.But today, I want to revisit a topic I haven't addressed much lately due to the pandemic, the inflation debate, and many other topics that have taken center stage.I'm talking about the war on cash.I've warned for a long time that governments are forcing citizens into digital forms of money so that t...Read More

A weaker United States ferrous scrap export market is stoking fears that prices could retreat in the August domestic trade after recyclers on the East Coast lowered their selling prices by $10-25 per gross ton in a tell-tale sign.International steel mills have lowered their import prices for US ferrous scrap grades - including heavy melt - this week, citing inflation, higher oil prices and th...Read More