Seaborne coking coal prices continued to increase in the cfr China market on Thursday August 12 and rose slightly in the fob market due to tight supply and good procurement demand, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $222.37 per tonne, up $0.28 per tonneHard coking coal, fob DBCT: $196.16 per tonne, up $0.25 per tonnePremium hard coking coal, cfr Jingtang: $340.19 p...Read More
Iron ore prices fell on Thursday August 12, on weakening market sentiment prompted by limited demand and thin liquidity, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $162.96 per tonne, down $2.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $163.19 per tonne, down $2.78 per tonne58% Fe fines high-grade premium, cfr Qingdao: $130.72 per tonne, down $3.56 per t...Read More
China's domestic rebar prices fell on Thursday August 12, with end-user demand falling away due to heavy rainfall across large parts of the country.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($803-808) per tonne, down by 30 yuan per tonneHeavy rain hit a large parts of China in recent days, interrupting construction activity and disrupting the transportation of rebar from warehouses.More h...Read More
Most prices were down on the afternoon of Thursday August 12 on the London Metal Exchange, with zinc reporting the largest fall, while nickel's three-month price was the only metal to register a gain, of 1.6%. The three-month price of zinc fell to $2,992.50 per tonne on Thursday after reaching $3,043.50 per tonne on Wednesday. Its cash-to-three month spread was last at a $8.25 per tonne conta...Read More
Domestic prices for cold-rolled coil in Europe were mostly stable in the week to Wednesday August 11 due to the seasonally slow market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe was ?,?1,270-1,320 ($1,489-1,548) per tonne on August 11, widening upward from ?,?1,270-1,310 per tonne ex-works one week earlier.The corresponding weekly pr...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The steady climb in copper prices since mid-2020 – and the more recent launch into the stratosphere – puts me in mind of Senator Gracchus in the film Gladiator. Specifically, his observation that fear and wonderment is a p...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.To quote Elon Musk, “We are running the most dangerous experiment in history right now, which is to see how much carbon dioxide the atmosphere can handle before there is an environmental catastrophe.” What was once a heate...Read More
Commodities - including nickel, cobalt hydroxide and fluorspar - are being held in China at Ningbo-Zhoushan Port's Meishan wharf after the facility was locked down due to a positive Covid-19 infection at the site, market participants told Fastmarkets on Thursday August 12.One person was confirmed as infected with Covid-19 on August 11 and the local government has implemented strict controls and ha...Read More
Sentiment positive despite seasonal slowdown. Dealers filling orders but struggling to replace goods at current price levels. Polished prices firm even as inventory rises. Buoyant US retail driving the recovery; July jewelry sales +83%, reports Mastercard SpendingPulse. Overseas exhibitors frustrated by restrictions preventing travel to Las Vegas shows. Manufacturing profit margins under pressure...Read More
All futures contracts on the London Metal Exchange were up on the morning of Thursday August 12, with most metals facing some form of supply headwinds - which bodes well for higher prices.Copper's three-month price was up to $9,601.50 per tonne on Thursday shortly after 9am, a 0.9% rise from $9,512 per tonne the previous day.The red metal was supported by the impending strike at Codelco's Andina m...Read More
A strike at Codelco's Andina mine in Chile will start at 8am local time on Thursday August 12 after unions rejected the latest offer from the company.The two unions - the main worker's union and the labor integration industrial union, representing some 800 workers - rejected the latest wage offer on Wednesday evening. The Andina Division of the state-controlled Codelco produced 184,400 t...Read More
RAPAPORT... Lusix, a producer of lab-grown diamonds, has received sustainability accreditation for its rough goods, enabling it to participate in the synthetics sector's push to present itself as ethically and environmentally sound.SCS Global Services carried out a third-party audit of the Israel-based company's operations that resulted in the producer receiving approval under the SCS 007 sta...Read More
RAPAPORT... The Gemological Institute of America (GIA) has awarded a $50,000 grant to help advance an initiative focused on eliminating the use of mercury in gold processing.The funds will enable Mercury Free Mining (MFM) and the Alliance for Responsible Mining (ARM) to evaluate new ore-testing processes, MFM said Wednesday. These have the potential to "significantly reduce or eradicate" the...Read More
RAPAPORT... "There's a lust toward trust," Leanne Kemp jokes as she explains the movement driving businesses to embrace sustainability. Since 2015, the company she founded and heads, Everledger, has been on a mission to facilitate that trend, using its blockchain-powered platform to help diamond and jewelry businesses keep a transparent record of their products' provenance. Everledger is not...Read More
(IDEX Online) - Pop icon Beyonce is to become the face of Tiffany & Co, along with rapper husband Jay-Z, in a deal revealed yesterday by Harper's Bazaar.The singer appears on the cover of the magazine's Tiffany-sponsored September issue, wearing a +21-ct Tiffany diamond. She is also featured inside in an interview and photoshoot.The appointment of the superstar couple follows the ann...Read More
Hot-rolled coil prices in the United States surged above $96 per hundredweight ($1,920 per short ton) for the first time, with market participants projecting that new records will be made before this rally runs out of steam.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.54 per cwt ($1,930.80 per ton) on Thursday August 12, up by 1.77% from $94.86 per cwt on Wedne...Read More
(IDEX Online) - BlueRock has announced the recovery of a 21.56-ct diamond at its Kareevlei mine, in South Africa.It's the company's biggest ever rough stone, and is likely to become its most valuable when it is sold at tender later this month.The "exceptional quality" stone is expected to fetch significantly more than $236,000, the company's current record, set by a 20.7-ct diamond...Read More
Domestic steel reinforcing bar prices in the United States rose slightly after three flat weeks, and market participants expect a continued upward trajectory despite prices for shredded scrap - rebar's key feedstock material - declining in August.Fastmarkets' assessment for steel rebar, fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday August 11, up by 0.51% from $49 per c...Read More
A summary of the financial results for German industrial group Thyssenkrupp for April 1 to June 30, 2021, the third quarter of its 2020/21 business year.In briefThyssenkrupp continued to improve its results for the third consecutive quarter on account of restructuring and performance measures amid a significant increase in steel demand and with almost all businesses contributing to the group's ear...Read More
Domestic prices for hot-rolled coil across Europe were largely stable on Thursday August 12, due to the seasonal slowdown in activity, sources told Fastmarkets. Trading in European HRC slows down in the summer holiday season, with both producers and buyers largely absent from the market. Activity is expected to rebound closer to September, following the...Read More