Chinese automotive production rose by 9.6% year on year in November, supporting prices of upstream materials such as steel and aluminium. Carmakers in the country produced 2.85 million units in November, up by 9.6% from a year ago and up by 11.5% from the month prior, China Association of Automobile Manufacturers said (CAAM) on Friday December 11. Auto sales totaled 2.77 million units, up by 12.6%...Read More
Precious metals are the bedrock of the financial world. They have permanent value and are the oldest form of money in the world. If you don’t own physical gold and silver, your investment portfolio lacks a sound foundation. Precious metals are often sought after as a store of permanent value, and as a method of diversifying portfolios.While cash, bonds, stocks and real estate offer investors...Read More
The gold miners’ stocksare finally perking up again, after spending months slogging through a grindingcorrection. Contrarian traders aretaking notice, starting to redeploy capital in this high-potential sector. Gold miners’ earnings and thus stock pricesare overwhelmingly driven by gold’s fortunes. And the yellow metal’s recent technicals are signaling a ma...Read More
After a recent spike to the upside over the past seven days, both gold and silver have turned negative again and could be headed back to their recent low points reached early in the day on Monday, November 30th.The movement in both gold and silver is evident of a decided shift in trend direction to the downside. What happens after prices return to their recent lows could prove interesting; or down...Read More
Chinese automotive production rose by 9.6% year on year in November, supporting prices of upstream materials such as steel and aluminium. Carmakers in the country produced 2.85 million units in November, up by 9.6% from a year ago and up by 11.5% from the month prior, China Association of Automobile Manufacturers said (CAAM) on Friday December 11. Auto sales totaled 2.77 million units, up by 12.6%...Read More
Here are five Fastmarkets stories you might have missed on Monday December 14 that are worth another look.Prices for flat steel products in the Brazilian domestic market have continued to increase, going up for the sixth month in a row in December amid material scarcity and a recovery in...Read More
Prices for carbon steel plate in the United States jumped after buyers realized that they will need to wait until later in the first quarter of 2021 for spot material. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US climbed to $36.50 per hundredweight ($730 per short ton) on Friday December 11 from $35 per cwt on December 4. The assessment has now gaine...Read More
The domestic price for rebar in Brazil increased for the sixth month in a row in December, with limited supply and persistently increasing demand continuing to support this year's price uptrend.Fastmarkets' price assessment of steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, was 3,800-3,945 Reais ($750-778) per tonne on Friday December 11, a 7.6% increase from 3,515-3,680 Reais...Read More
Nickel's three-month price was the star performer on Monday December 14 on the London Metal Exchange, rising by 1.7% at the 5pm close compared with Friday, on a day when the majority of the base-metals complex showed price rises of more than 1%.Nickel rose by 1.7% on Monday, the highest among the complex, to $17,590 per tonne from Friday's closing price of $17,278 per tonne.The metal also once mor...Read More
Here are five Fastmarkets stories you might have missed on Monday December 14 that are worth another look.Prices for flat steel products in the Brazilian domestic market have continued to increase, going up for the sixth month in a row in December amid material scarcity and a recovery in...Read More
Several minor metals prices have increased sharply in the week ended Friday December 11 following rising offers from China and higher transportation costs while uncertainty about logistics and demand in the near term are preventing some traders from taking long positions, Fastmarkets learned. "Price increases are massive... Almost all materials are currently strongly moving higher," a minor metals...Read More
Nickel's three-month price was the star performer on Monday December 14 on the London Metal Exchange, rising by 1.7% at the 5pm close compared with Friday, on a day when the majority of the base-metals complex showed price rises of more than 1%.Nickel rose by 1.7% on Monday, the highest among the complex, to $17,590 per tonne from Friday's closing price of $17,278 per tonne.The metal also once mor...Read More
Seaborne iron ore prices fell on Monday December 14 after steelmakers in China called on authorities to clamp down on price speculation after it led iron ore prices to surge to multi-year highs last week, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $154.37 per tonne, down $5.76 per tonne62% Fe low-alumina fines, cfr Qingdao: $154.71 per tonne, down $5.70 per to...Read More
It also seems apparent that the agreed upon trades over the past 3 days are over. Of course, all this happened before...by J. Johnson via JS MinesetGreat and Wonderful Monday Morning Folks, February Gold is down $14.80 with the last quote at $1,828.80 after hitting the low of London at $1,820 with the high to beat at $1,845.60. I had to hit the side of my screen this morning because...Read More
The nickel price rallied to a new year-to-date high in the morning of Monday December 14 on the London Metals Exchange, spurred by positive forecasts for electric vehicle sales in China and the approval of the Pfizer-BioNTech Covid-19 vaccine in the United States. Nickel's three-month price touched a new 2020 high during early trading of $17,780 per tonne, overtaking the previous year-to-date high...Read More
Transaction prices for domestic steel hot-rolled coil continued to rise across Europe in the week to Friday December 11, due to tight supply from both domestic and overseas suppliers and solid demand.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?606.25 ($734.19) per tonne on Friday, up by ?,?31.25 per tonne week on week and by ?,?81.75 per tonne...Read More
RAPAPORT... Lucapa Diamond Company has unearthed a 101-carat rough from its Mothae mine in Lesotho.The company found the D-color, type IIa diamond in the mine's southern lobe region, it said last week. It's the fourth 100-carat-plus rough the miner has recovered from the site since it commenced operations in January 2019. Last week, Lucapa unearthed a 127-carat, high-quality diamond from its Lulo...Read More
RAPAPORT... A 14.7-carat diamond ring was the top seller for Christie's in Paris, nearly tripling its high estimate.The marquise-cut, E-color, SI1-clarity stone sold for EUR 437,500 ($531,812), or $35,322 per carat, well above its EUR 150,000 ($182,333) upper valuation. It was one of a number of noteworthy diamonds that led the sale Paris Jewels sale, which took place from November 24 to December...Read More
RAPAPORT... De Beers lifted prices of select goods at last week's sight, reflecting strong rough trading and improving demand in the corresponding polished categories, industry insiders told Rapaport News.Prices climbed by 1% to 2% for 0.75-carat rough goods and larger, as well as for -7 sieve sizes, sources said following the December sale. The miner also adjusted assortments, making some bo...Read More
RAPAPORT... The Indian Diamond & Colorstone Association (IDCA) has unveiled its new board and leadership team following elections earlier this month.Haridas Kotahwala of Royal India USA will remain as president, the New York-based IDCA said Thursday. The board also elected Rajeev Pandya of Ashi Diamonds as vice president, Rutali Gandhi of Sagar Star Corp as secretary, Amit Jhalani of TBR...Read More