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

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

The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More

RAPAPORT... Rio Tinto's diamond division returned to profit in the first half of the year as demand picked up amid the reopening of the economy.The unit recorded a profit of $5 million for the six months ending June 30, the miner said last week. That compared with a loss of $40 million a year earlier, when the company incurred an impairment charge of $441 million related to its Diavik mine in Cana...Read More

European buyers of hot-rolled coil have been in "wait-and-see" mode so domestic prices were fairly stable on Wednesday August 4, sources have told Fastmarkets.Sentiment in the market turned negative despite the seasonal slowdown, due to competitive import offers. Although the volumes available have not been significant, according to estimates by market participants, they will still affect sentimen...Read More

RAPAPORT... Jewelers of America (JA) has elected Robert Moeller, a second-generation jeweler, to head its board of directors.Moeller, the president and director of sales of R.F. Moeller Jeweler in Minnesota, will succeed outgoing chair Holly Wesche, the organization said Tuesday. A Gemological Institute of America (GIA) graduate gemologist and an American Gem Society (AGS) certified gemologist app...Read More

RAPAPORT... Signet Jewelers has reached a new deal with its lenders and completed the final step in the sale of its credit portfolio."These actions, as well as S&P's recent upgrade of Signet's issuer credit rating resulting from our enhanced financial profile, demonstrate the progress we are making with our Inspiring Brilliance growth strategy," said Joan Hilson, the retailer's chief fina...Read More

(IDEX Online) - The affordable jeweler Piercing Pagoda is rebranding, opening up to 100 new locations, and introducing more facial and nose piercings in a major retail shift.The Signet-owned brand, which currently had 500 kiosks and stores, has already changed the name of some outlets to Banter by Piercing Pagoda, and will now roll that out across the board.It will expand into malls across the US,...Read More

Benjamin Baptista will retire and leave his role as chief executive officer of ArcelorMittal's Brazilian unit on September 30 after 12 years, with current Latin America long steel CEO, Jefferson De Paula, to replace his role, Baptista said on Tuesday August 3.Baptista joined ArcelorMittal in 1983, when it was still called Companhia Sider??rgica de Tubar??o (CST). It was later bought by Arcelor, to...Read More

(IDEX Online) - One in five diamond workers have quit their jobs in Surat because of low wages, says a union boss.Factory owners are also accused of failing to pay artisans' wages during India's Covid lockdowns, or of reducing them by as much as 25 per cent. That's despite a spike in demand from consumers in the USA and China.The Diamond Workers Union is demanding a 20 per cent pay...Read More

(IDEX Online) - Surat's vast but long-delayed diamond bourse is now reported be on target for opening next year.It was originally supposed to open in January 2020, according to the Surat Diamond Bourse (SDB) website. That was put back by September 2021, and now to some time in 2022, according to the BusinessToday.In website.The $355m bourse (pictured) will be the world's largest office b...Read More

Century Aluminum is on track to complete the expansion at its Mount Holly smelter in Goose Creek, South Carolina, by the end of the year, allowing it to ramp up to 75% of its 229,000 tonnes annual production capacity.Second quarter 2021 ended June 30 in brief Century's adjusted earnings before income, tax, depreciation and amortization was $34.4 million, an increase of $54.1 million from the previ...Read More

A summary of the financial results for US-based aluminium producer Novelis in April-June 2021, the first quarter of its business year, released on Wednesday August 4.In brief Novelis' adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter were $555 million, up by 119% year-on-year. Net income attributable to its common shareholders was $240 million, up fro...Read More

While 300-series stainless scrap prices in the United States continued to inch higher on strong nickel prices, a correction in the domestic ferrous scrap market has limited growth for 400-series prices, and participants indicated the stainless scrap market could be nearing a peak."The market for stainless scrap in the USA is overblown. The largest processors have seemingly been in a battle for mar...Read More

Global commodities producer BHP's nickel sulfate plant in Australia is nearing completion and is now at the commissioning stage, BHP Nickel West asset president Eduard Haegel said on Tuesday August 3.Haegel was speaking to the Diggers and Dealers Mining Conference in Kalgoorlie, Western Australia.The plant at the Kwinana nickel refinery in Western Australia has begun production, Haegel said. Tanka...Read More

The aerospace industry is on pace for a full recovery in the next three years, with demand already rebounding in the second half of 2021 compared with Covid-19 pandemic-related lows, according to Arconic's top executive."While [aerospace] remains the biggest question mark in our portfolio, we believe that question really just boils down to timing. We fully expect the industry to return to pre-pand...Read More

Future remains golden for Rox ResourcesSPONSOREDrox resourcesCashed-up Karora is doubling gold production at a blistering paceSPONSOREDkarora resourcesZinc-lead discovery helps Zenith double market capSPONSOREDzenith mineralsThe path to decarbonising the mining industrySPONSOREDThe company is "one of the few companies that has a clear line of sight toward sustained nickel production into the 2030s...Read More

Future remains golden for Rox ResourcesSPONSOREDrox resourcesCashed-up Karora is doubling gold production at a blistering paceSPONSOREDkarora resourcesZinc-lead discovery helps Zenith double market capSPONSOREDzenith mineralsThe path to decarbonising the mining industrySPONSOREDThe company announced a 27% increase to its mine plan production on Monday, to 1.84 million ounces of gold across seven y...Read More

Latin American steel group Ternium expects prices to remain steady in North America, despite the increase in capacity coming into the market.New projects coming onstream are expected to add around 5-6 million tonnes of flat steel capacity in the region, according to the company's estimates. But such an increase is not expected to bring prices down. "I don't see this as a driver of huge oversupply,...Read More