The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? Flat steel product prices in the United States moved largely in line with our expectations in October, although the increases slightly outpaced our projections. US hot-rolled coil prices averaged $655 per ton in October, exceeding our forecast price of $640 per...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Key ferro-alloy forecast highlights for the coming months:?EUR? A strong recovery in both bulk and noble alloys is expected in 2021 but the markets are unlikely to return to the levels seen before the outbreak of the Covid-19 pandemic. We have seen a quicker-than-expected recovery across various regions amid the economic fal...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.While much commentary has been written about Asian economies performing far better than those elsewhere this year during the global Covid-19 pandemic, it is stainless steel markets in Europe and the United States that are ending the year in better shape than their Asian counterparts.We do not talk of demand levels or demand g...Read More

JP Morgan says an end to Chinese credit stimulus will result in price declines for copper, aluminium and zinc over 2021.Analysts at the bank led by Natasha Kaneva noted in a report on Wednesday December 16 that demand risks in main consumer China would likely outweigh the recovery expected across the rest of the world next year."While we think prices could have further to run in early 2021 as upsi...Read More

Forecasts for growth in electric vehicle (EV) use set the scene for increased cobalt demand, but they have become the backdrop for increased volatility in prices.The mismatched timing of increased supply for, and demand from, the growing EV sector has seen cobalt prices swing to highs of nearly...Read More

Positive sentiment in final week before Christmas as Covid-19 vaccine receives FDA approval. Holiday season successful for e-commerce businesses. Online sales now slowing as delivery deadlines approach. US Nov. retail sales -1.1% vs. previous month after boost from early holiday shopping in Oct. Chinese demand driving polished market ahead of Feb. 12 lunar festival. Dealers anticipate good invento...Read More

RAPAPORT... Mountain Province reported strong sales during the fourth quarter, noting that rough prices surpassed pre-Covid-19 levels in most categories.Revenue for the final three months of the year reached $61.7 million, the Canada-based mining company said Thursday. That represented an increase of 25% compared to the same period a year earlier. Sales volume grew 24% to 956,348 carats, while the...Read More

RAPAPORT... De Beers' rough sales rose in December, albeit at a slower rate than in previous months, as steady retail demand ahead of the holidays supported trading at the rough and polished levels.The final sales cycle of the year brought in $440 million, up 3% from the $426 million the miner recorded a year earlier, it reported Thursday. However, the figure was 5% lower than the November cy...Read More

RAPAPORT... US retail sales struck a disappointing note in November due to an uptick in coronavirus cases and the lack of a second government stimulus package.Revenues fell 1.1% month on month to $546.5 billion, though they were still 4.1% higher than in November 2019, the US Census Bureau reported Wednesday."Consumers held back on spending in November as virus rates spiked, states imposed re...Read More

(IDEX Online) - The Dubai Diamond Exchange sold $87.5m of gems at the UAE's largest ever rough tender.More than 250 companies took part, with delegates flying in from India, Hong Kong, Russia, Belgium and Lebanon, as well as Israel, now that links have been "normalized".Organizers said the record-breaking tender testament to strength of Dubai's diamond ecosystem and confidence boost for...Read More

(IDEX Online) - De Beers sold $440m of rough in December, indicating a sustained recovery in consumer demand.It's the fourth consecutive month in which 2020 Sights have matched or surpassed their 2019 equivalents.De Beers welcomed the steady demand for its goods, but cautioned that the ongoing pandemic still posed a threat. The miner started offering discounts and extra flexibility to Si...Read More

(IDEX Online) - Staff at some Pandora at some franchises in Australia and New Zealand were told not to call in sick over the three-week Christmas period.Boss Joseph Howley (pictured in screengrab) told them in a video message that it was going to be "very busy" and they shouldn't call in sick or cancel shifts."You are very important to this business," he tells employees of The Howley Group, w...Read More

The London Metal Exchange three-month aluminium and tin prices set new year-to-date highs during trading on Thursday December 17, while the whole complex is continuing to hold high prices on hopes of a positive outcome in negotiations for a United States economic stimulus package to deal with the Covid-19 pandemic. The aluminium price hit a new 2020 high of $2,096 per tonne at around 2pm on Thursd...Read More

The London Metal Exchange recently announced the next steps in its sustainability drive, but En+ Group believes the plans "do not address the industry's concerns." The energy and metals company said on Wednesday December 16 the LME's plans "represent a lost opportunity to drive industry-wide meaningful change" at a time when the world looks to "build back better" in 2021 from the impact of the glo...Read More

London Metal Exchange tin's three-month price came to $20,000 per tonne during early trading while the rest of base metals made gains on Thursday December 17 morning on bullish market hopes of the passing of a US economic stimulus package to deal with the Covid-19 pandemic.The LME three-month tin price came to a new year-to-date high of $20,035 per tonne during early trading on Thursday, its highe...Read More

Jakob Stausholm will become the new chief executive officer of mining major Rio Tinto at the start of next year, the company announced on Thursday December 17.Currently chief financial officer, Stausholm joined Rio Tinto in 2018, having previously held senior positions at shipping company AP Moeller-Maersk and at oil producer Shell. The appointment comes as Rio Tinto faces a series of corpora...Read More

The Shanghai Futures Exchange aluminium price will maintain its upward momentum in the first half of 2021 due to strong demand before trending gradually lower in the second half of the year on increased supply, market participants and analysts told Fastmarkets.The aluminium front month contract demonstrated great resilience in 2020 by recovering quickly from the impact of Covid-19 on consumption t...Read More

Tight supply in the spot market has sent tin premiums in the United States back up to April 2019 levels while the London Metal Exchange price climbed toward its highest price of 2020 in the past two weeks.Renewed demand, scant domestic supply push US premiums 4-22% higherHigh freight, metal costs subdue European spot trade Chinese premiums flat amid few importsUS supply shortage boosts premiumsTin...Read More

Steel billet and rebar prices in Egypt increased during the week ending Thursday December 17 because of restocking after recent price increases, although demand for billet imports was not strong, market sources told Fastmarkets.Buyers did not accept any offered price for imported billet since locally produced billet was enough to meet rebar producers' demand.Demand for rebar and billet has been sl...Read More

Steel reinforcing bar prices in the United States have continued to rise following recent mill price increases, Fastmarkets has learned. Fastmarkets assessed the price for steel reinforcing bar (rebar), fob mill US at $34.50 per hundredweight ($690 per short ton) on Wednesday December 16, up by 1.47% from $34 per cwt the previous week.US marketFastmarkets' current assessment indicates that al...Read More