Ferrous scrap prices in the United States are facing more upside in January, in a market where supply is trying to catch up with demand. The strength of the ferrous scrap market has caught nearly everyone off-guard, with earlier predictions that the market had another $30-40 per gross ton to rise following the close of the November trade proving to be well below the actual settlements.&n...Read More
Prices for imported hot-rolled and cold-rolled steel coil in the United States surged on Wednesday December 9 to the highest levels in more than two years, as buyers scrambled to find supply amid speculation that further increases are coming."Import volumes are limited," a West Coast distributor said. "With tariffs and dumping suits you aren't seeing a lot of imports arrive. I think domestic produ...Read More
Steel reinforcing bar prices in the United States have surpassed a one-and-a-half-year high, propelled by raw material-driven mill hikes. Fastmarkets assessed steel rebar, fob mill US at $34 per hundredweight ($680 per short ton) on Wednesday December 9, up by 8.8% from $31.25 per cwt the previous week and the highest level since it was assessed at $34.50 per cwt on May 15, 2019. US marketFas...Read More
Here are five Fastmarkets stories you might have missed on Thursday December 10 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) was close to concluding negotiations with automotive producers to raise its prices for steel under annual contracts in 2021 by 30-45% across different products, commercial director Luis Martinez said...Read More
The London Metal Exchange three-month nickel price rallied 4% and four metals in the base metals complex - tin, nickel, copper and zinc - set new 2020 highs during trading on Thursday December 10 on rising expectations for the approval of a Covid-19 vaccine in the United States. The three-month nickel price was at $17,430 per tonne on Thursday at 5pm, 4.35% higher than its Wednesday evening price...Read More
The seaborne premium cfr price rose on Thursday December 10, with United States-origin coal offered at a higher price, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.89 per tonne, up $0.08 per tonnePremium hard coking coal, cfr Jingtang: $178.60 per tonne, up $2.05 per tonneHard coking coal, fob DBCT: $92.56 per tonne, unchangedHard coking coal, cfr Jingtang: $160.26 per...Read More
Base metals prices were steady on the morning of Thursday December 10, staying around price highs established on Wednesday on the London Metal Exchange when tin, zinc and nickel rallied to new year-to-date highs. The three-month nickel price rose during morning trading to $16,865 per tonne, setting yet another year-to-date high on Thursday. The metal's three-month price was at $16,820 per tonne at...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.Speaking after ConocoPhillips announced it will take over Concho Resources in a $9.7 billion all-stock deal, Robert Clarke, vice president, Lower 48 upstream, at Wood Mackenzie, said: “The combination is remarkable. Just in scal...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.Big Oil is on the move, feeling its way into a changing energy world. There are two sides to adapting: how to decarbonise oil and gas and how to build a sustainable business around zero-carbon technology. Valentina Kretschmar, VP and...Read More
Jewelers upbeat about holiday season amid strong e-commerce and lucrative early gift shopping. Last-minute US orders and preparations for Chinese New Year driving polished trading. China jewelry market robust. Luxury demand good at NY auctions: Christie's sells $45M (91% by lot) including Kashmir sapphire and diamond bracelet to Harry Winston for $6M. Sotheby's raises $47M, with heart-shape, 1.71...Read More
RAPAPORT... Alrosa's diamond sales rose in November to their highest level since January as customers continued to replenish their rough inventories ahead of the holidays.Revenue from rough and polished goods jumped 36% year on year to $390.5 million, the Russian miner reported Thursday. Rough sales increased 33% to $374.1 million, while sales of polished almost tripled to $16.4 million, from...Read More
RAPAPORT... Australian jeweler Michael Hill predicted a rise in profit for the current half year after reporting growth in same-store sales.Sales at branches open for at least 12 months increased 8% year on year in the 22 weeks ending November 29, even as total revenue slipped 1.3% to AUD 224.9 million ($168.2 million), the Queensland-based retailer said Wednesday. The group expects earnings...Read More
RAPAPORT... The diamond and jewelry industry has made important strides in its responsible sourcing practices, but it cannot become complacent, a recent report by Human Rights Watch (HRW) found. Besides, Covid-19 has brought new challenges that affect all levels of the distribution chain.In episode 37 of the Rapaport Diamond Podcast, Juliane Kippenberg, associate director of the Children's Ri...Read More
Domestic European prices for hot-dipped galvanized coil increased over the week to Wednesday December 9, due to low availability, good demand and higher feedstock prices, sources told Fastmarkets during the week.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?680-730 ($823-884) per tonne on December 9, widening upward from ?,?680-700 per tonne a week earli...Read More
(IDEX Online) - Divers who scan the shallow sea floor off South Africa's western coast for diamonds claim an industrial mining operation is muddying their waters and causing long-term damage.They've complained to environmental inspectors about a series of coffer dams - temporary sea walls built by diamond mining companies so they can pump out water and sift the gravel for gems.The countr...Read More
(IDEX Online) - Alrosa's sales of rough and polished were $390.5m in November, up more than a third on the same month last year.The Russian miner said demand for rough had remained strong ahead of the holiday season, especially in the USA and China.It rolled its October and November trading sessions into one as part of a "rhythmical" offering of goods, saying sales were no longer inextricably...Read More
Domestic prices for hot-rolled coil increased substantially day on day in Northern Europe on Thursday December 10 due to a materials shortage in the market combined with good demand from distributors, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?605.00 ($732.28) per tonne on Thursday, up by ?,?1.67 per tonne from ?...Read More
Adapted with permission from Only Natural Diamonds, by the Natural Diamond Council(IDEX Online) - More than four out of five diamond cutters at a center in Windhoek, Namibia, are disabled.Andr?? (C) Messika, a supplier of polished diamonds to the luxury jewelry market, employs 43 diamond cutters, 28 of whom are hearing impaired and eight polishers who are wheelchair users.Marc Friedman, operations...Read More
The London Metal Exchange three-month nickel price rallied 4% and four metals in the base metals complex - tin, nickel, copper and zinc - set new 2020 highs during trading on Thursday December 10 on rising expectations for the approval of a Covid-19 vaccine in the United States. The three-month nickel price was at $17,430 per tonne on Thursday at 5pm, 4.35% higher than its Wednesday evening price...Read More
Hydro will be looking to strengthen its position in low-carbon aluminium as part of its 2025 strategic direction, the producer said during its capital markets day on Thursday December 10. The producer said over the past year it has seen increased demand for its low-carbon brand products, Hydro CIRCAL and Hydro REDUXA, and greater demand is expected also in 2021. "We have generated cash, cut costs...Read More