(IDEX Online) - Four high-quality diamonds have been recovered from the newly-discovered extension to a kimberlite pipe in the Limpopo Province of South Africa.Botswana Diamonds also reports abundant kimberlitic indicators from drill samples at the Thorny River kimberlite extension, which was discovered in November 2020.It says indications so far are very encouraging, and it will embark on another...Read More

(IDEX Online) - The US is set for a weddings boom in 2022, as couples re-schedule after lockdown.The number of ceremonies is forecast at 2.47m, according to the market research company Wedding Report.That's almost double the historic low of 2019, when there were just 1.27m weddings, and up significantly on 2021, with a predicted 1.93m.It will provide jewelers with an extra boost, in addition...Read More

Tin's three-month price reached yet another all-time peak of $35,795 per tonne on Wednesday August 11 on the London Metal Exchange. Most other base metals, copper being the sole exception, were also up while the US Dollar Index pulled back slightly.Months-long supply tightness and continued demand for tin meant that its three-month price has risen by 70% since the start of the year, having been $2...Read More

Prices for 300-series stainless scrap grades in the United States have weakened considerably following a downturn in the domestic ferrous scrap trade, falling nickel values on the London Metal Exchange and some consuming stainless mills buying smaller tonnages."We dropped pricing sharply due to indications of limited demand in September and nickel falling," one major processor said."As I've previo...Read More

A summary of the financial performance of Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) for the second quarter of 2020, according to its earnings report released on Tuesday August 10.In brief Total aluminium sales increased year on year during the second quarter amid a "consistent" recovery of Brazilian demand following the 2020 low caused by the Covid-19 pandemic, CBA said....Read More

Metal held outside London Metal Exchange warehouses decreased for the fourth month running, down by 12% to 913,825 tonnes in June from just over 1 million tonnes in May. The LME's latest off-warrant stock report showed a decrease of 338,158 tonnes in June, following a fall of 140,246 tonnes in May.In April, there were 1,010,360 tonnes of aluminium alone outside of LME warehouses.Copper and le...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 mineralsMining and the lack of external investmentSPONSOREDswannThe company regretted this decision by workers and reiterated that its offer was very competitive compared to other agr...Read More

Nickel premiums continued to rise in the United States in the week ended Tuesday August 10 due to tight availability, but premiums in other regions remained flat.US premiums up on higher sales despite end to Vale strikeChina's cathodes and briquettes quiet amid firmly closed arb windowQuiet market in Europe.Uptrend continues in US premiumsNickel premiums rose in the United States on continued high...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 mineralsMining and the lack of external investmentSPONSOREDswannAtalaya reported EBITDA of €51.9 million in Q2, up from €12.8 million a year ago and 5% above estimates by an...Read More

Summary of Showa Denko's first half production results for the six months ended June 30. Net sales in the first half of 2021 rose by 112.34% to ?693 billion ($6.23 billion) with sales in chemicals, electronics, inorganics and aluminium segments improving from the first half of 2020. Showa Denko reported...Read More

Hot-rolled coil prices in the United States remained firmly above $94 per hundredweight on Wednesday, setting an all-time high for the third day in a row.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $94.86 per hundredweight ($1,897.20 per short ton) on Wednesday August 11, up by 0.20% from $94.67 per cwt on August 10 and by 1.72% from $93.26 per cwt one week earlie...Read More

The shareholders of United Arab Emirates-based Arkan Building Materials have approved the merger of their company with Emirates Steel, Arkan said on August 9.Arkan owns companies in the construction-related sectors, including cement and concrete producers.Emirates Steel has crude steel capacity for 3.5 million tonnes per year, making it the biggest steel producer in the UAE. It produces rebar, wir...Read More

Base metals prices on the LME were mainly weaker this morning, Wednesday August 11, after average rebound gains of 1.4% on Tuesday, while SHFE base metals prices were mainly stronger in reaction to yesterday's LME gains.* US Senate passes $1 trillion infrastructure bill, focused on the transport system* Wall Street set fresh record highs on Tuesday* US dollar strong and climbing and US treasury yi...Read More

Domestic prices for hot-rolled coil were stable in Northern Europe and down in Italy on Wednesday August 11 due to seasonally weak trading activity, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,138.13 ($1,334.51) per tonne on August 11, down by ?,?0.62 per tonne from ?,?1,138.75 per tonne on August 10.The index was dow...Read More

A summary of German steelmaker Salzgitter's financial results for the second quarter of 2021, running from April 1 to June 30.In brief Recovery in the steel market and surging steel prices led to a strong performance in the second quarter, particularly in Strip Steel and Trading. Steel demand in Europe has continued to increase from 2020's Covid-19 slump. Not only have steelworks' order intakes in...Read More

Export billet prices from the Commonwealth of Independent States (CIS) region declined at the beginning of the week, pressured by low prices and poor demand.Lower import scrap prices in Turkey as well as low demand in major sales outlets due to the summer slowdown were the main reasons for the negative mood."[The] market seems very soft. August is a quiet month in general as well," a Europe-based...Read More

Prices for steel hollow sections in Europe remained unchanged on Wednesday August 11 with the market moving through a seasonally slower period of trading, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,642-1,677) per tonne on Wednesday, unchanged week on week."Prices remain above ?,?1,400 per tonne,...Read More

I've been analyzing currency wars for years. In fact, I've written a book called Currency Wars, so I have some expertise in the subject.A new front in the currency wars is emerging, but it has not yet erupted into blatant currency manipulation. That will probably come in early 2022.First, we'll likely pass through a major market disruption that will force the dollar significantly higher against ot...Read More

We're now in the middle of a new surge of COVID cases blamed on the Delta variant of the SARS-CoV-2 virus. The Delta surge should abate significantly by mid-September.But I'm afraid the consequences of bad economic policies engendered by the pandemic will last much longer.In the immediate aftermath of the first pandemic wave (March - May 2020), the White House, Congress and the Fed implemented a f...Read More

Ferrous scrap exports from the United States tumbled by 20.68% month on month in June, with shipments to Turkey down by two thirds compared with May, according to the latest data from the US Census Bureau.Ferrous scrap exports dropped to 1.61 million tonnes in June from 2.03 million tonnes in May and 1.63 million tonnes in April.Exports to Turkey, typically the top buyer of US ferrous scrap, plumm...Read More