Iron ore prices mostly went up on Monday August 2 with the Chinese government being urged to pull back its aggressive carbon-reduction measures. This resulted in improved expectations for iron ore demand, because the proposed cuts in steel production for the rest of 2021 may be eased, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $184.42 per tonne, up by $2.85 per tonn...Read More
As Emerita Resources moves ahead with exploring one high-grade project, a case moving through the Spanish courts may lead it to being awarded another. La Infanta Drilling LocationsZinc is the fourth most widely consumed metal on earth, with only iron, aluminum and copper ahead of it, but it is not on most investors' radar. The price of the metal has been on the rise; zinc has increased from under...Read More
YouTube has temporarily suspended Sky News Australia from posting on its video platform, issuing a first strike to theContinue...Read More
Here are five Fastmarkets stories you might have missed on Monday August 2 that are worth another look.The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.Four unions representing...Read More
The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.China's National Health Commission said on Monday August 2 that there were 98 new cases reported a day earlier, including 40 cases in Jiangsu province alone. Jiangsu's capital city, Nanjing, has been reporting a hi...Read More
China's domestic rebar prices fell sharply on Monday August 2 due to market expectations of lighter production restrictions in some regions, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($804-809) per tonne, down by 140 yuan per tonneThe Politburo of the Communist Party of China's Central Committee said the country will make overall arrangements and issue a national...Read More
Gold has been trading sideways recently, but this won’t last forever – the yellow metal is likely to move downward before continuing its rise.So, so you think you can tell heaven from hell, a bull market from a bear market? It’s not so easy, as gold seems to be at a crossroads. On the one hand, accelerating inflation should take gold higher, especially that the real interest rate...Read More
The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.China's National Health Commission said on Monday August 2 that there were 98 new cases reported a day earlier, including 40 cases in Jiangsu province alone. Jiangsu's capital city, Nanjing, has been reporting a hi...Read More
Here are five Fastmarkets stories you might have missed on Monday August 2 that are worth another look.The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.Four unions representing...Read More
Domestic hot-rolled coil prices were fairly stable across Europe on Monday August 2 due to the seasonal slowdown, market sources told Fastmarkets.In Northern Europe, buyers have been in "wait-and-see" mode while assessing price trends. They have booked sufficient volumes of coil and, therefore, were able to take a pause in their purchasing activity.Buyers also needed to evaluate effect on the mark...Read More
The price of lead reached a new year-to-date peak of $2,412.50 per tonne on Monday August 2, while nickel and copper faltered in trading on the London Metal Exchange.Lead's three-month price was at its highest on Monday for 37 months, since July 2, 2018. The metal's price was up by 0.8% from its price last Friday, hitting $2,402 per tonne at the close of trading. It had risen by 5.5% last month.Eu...Read More
Turkish steel mills remained inactive in the import markets at the start of this week, making no new bookings of deep-sea scrap cargoes on Monday August 2, sources told Fastmarkets.But two older cargoes have come to light since the calculation of the scrap indices closed for the day last Friday.Two European cargoes were booked by mills in the regions of Marmara and Izmir, each comprising unspecifi...Read More
Here are five Fastmarkets stories you might have missed on Monday August 2 that are worth another look.The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.Four unions representing...Read More
The price of lead reached a new year-to-date peak of $2,412.50 per tonne on Monday August 2, while nickel and copper faltered in trading on the London Metal Exchange.Lead's three-month price was at its highest on Monday for 37 months, since July 2, 2018. The metal's price was up by 0.8% from its price last Friday, hitting $2,402 per tonne at the close of trading. It had risen by 5.5% last month.Eu...Read More
Iron ore prices mostly went up on Monday August 2 with the Chinese government being urged to pull back its aggressive carbon-reduction measures. This resulted in improved expectations for iron ore demand, because the proposed cuts in steel production for the rest of 2021 may be eased, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $184.42 per tonne, up by $2.85 per tonn...Read More
Prices of hot-rolled coil across China's domestic market fell sharply on Monday August 2, while futures prices tumbled after Beijing's latest comments on carbon emissions reductions sent confusion across the markets, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,760-5,860 yuan ($892-907) per tonne, down by 150-240 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Ex...Read More
RAPAPORT... Hong Kong's hard-luxury market saw only a partial rebound in June as the lack of tourism kept retail sales well below pre-pandemic levels.Revenue from jewelry, watches, clocks and valuable gifts grew 32% year on year to HKD 3.31 billion ($452.7 million) but was still 42% lower than in the same month of 2019, the municipality's Census and Statistics Department reported Monday. The incre...Read More
RAPAPORT... Prices of fancy-color diamonds increased in the second quarter amid supply shortages, according to the Fancy Color Research Foundation (FCRF).The group's Fancy Color Diamond Index gained 0.2% compared with the previous three months, the organization reported Monday. Prices of blue fancy-color diamonds jumped 0.4%, while pinks increased 0.3%, and yellows rose 0.1%."As retail in the US,...Read More
RAPAPORT... Two specialists in source verification have teamed up to provide consumers with precise origin information for natural and lab-grown diamonds.Australian science organization Source Certain International will provide the technology for SCS Global Services' Certification Standard for Sustainable Diamonds, it said Monday. That technology will enable SCS to state the mine of origin on...Read More
Glencore has purchased a 9.99% stake in junior mining company Hot Chili for A$14.4 million ($10.62 million), the latter said on Monday August 2.The agreement gives Hot Chili, which is listed on the Australian Securities Exchange and operates assets in Chile, the financing to complete a feasibility study for...Read More