RAPAPORT... US consumer confidence fell almost 5% this month amid the latest coronavirus wave, according to the Conference Board.The business data group's Consumer Confidence Index declined to 88.6 in December, from 92.9 in November, it reported Tuesday. Americans gave a weaker assessment of current business and labor conditions - a fact that outweighed an improvement in their short-term outl...Read More

RAPAPORT... Lucapa Diamond Company is in advanced negotiations to acquire the Merlin mine in Australia after the site's owner entered liquidation earlier this year."The Lucapa board considers that Merlin would be complementary to the company's existing niche operating mines and exploration projects in Angola, Australia, Botswana and Lesotho, and is a development opportunity that would significantl...Read More

Import prices for flat-rolled steel products in South America continued their nearly three-month uptrend as Chinese material was presented at higher levels for March 2021 and April 2021 shipments following ongoing domestic strength.Interest from buyers went quiet ahead of the year-end holidays, however, market participants said. Most clients were waiting to see if prices would correct down next mo...Read More

(IDEX Online) - Alrosa raised $7m at its fourth online sale of special-size rough.The Russian state-owned miner launched digital tenders in May to give buyers an opportunity to buy large stones (over 10.8-carats) remotely using 3D scans by Sarine.It hasn't disclosed the value of previous sales.  In December it sold 80 per cent of the goods available -  185 rough diamonds with a tota...Read More

Steel billet and rebar prices have increased again in Egypt in the week to Thursday December 24, with demand for rebar said to be moderate because of restocking, market sources told Fastmarkets.Locally produced billet was sufficient to meet demand from rebar producers, so buyers did not book any import billet.Demand for rebar and billet has been slow in the country since the imposition of a ban on...Read More

(IDEX Online) - The average spend on an engagement ring fell slightly in the US to $5,500 this year.That's according to a survey on 5,000 newly-engaged individuals for online wedding website The Knot.It dipped slightly from $5,900 in 2019 as one in eight couples shopped virtually for a ring.  But the pandemic had only a "minimal" effect on their spend, said The Knot 2020 Jewelry & En...Read More

(IDEX Online) - The recovery in sales of US watch and jewelry continues, with a fifth consecutive month of year-on-year increases.October's 18.6 per cent rise was another record high. The jump from September appears at first more modest than recent monthly increases, a possible indication that sales are finding their level, but it's likely the figure will be revised upwards, in line with...Read More

Fastmarkets will discontinue its tin ingot premiums on a seaborne basis to China from the start of January. The decision follows a month-long market consultation. Market analysis and engagement showed support for the move, with China a major producer but a negligible importer of LME registered tin ingot bands other than in extreme circumstances. The two prices to be discontinued are: MB-SN-0032-Ti...Read More

Fastmarkets has decided to discontinue its copper cathode premium, cif Japan from the start of January. The results of a month-long consultation, market analysis and engagement showed support for the move, with Japan a major producer but a negligible importer of LME registered copper cathode brands. The price to be discontinued is: MB-CU-0385 - copper grade A cathode premium, cif Japan, $ per tonn...Read More

The United Kingdom and European Union have reached an agreement on a trade deal that will ensure tariff-free trading of most goods between the country and the bloc after December 31 when the withdrawal transition period ends, easing metals and minerals market participants' fears of logistics paralysis and material shortages. Following four years of slow negotiations after the 2016 Brexit referendu...Read More

Treatment charges for zinc and lead concentrates cif China were flat in December, while those in the China domestic market fell on low inventories and consistent demand from smelters. Fastmarkets assessed the zinc spot concentrate TC, cif China at $75-90 per tonne. The lead spot concentrate TC,...Read More

Copper production at Las Bambas, one of Peru's largest mines, may need to be cut from this week if a road blockade continues to prevent concentrates reaching Matarani port, parent company MMG said on Thursday December 24.Some supply contracts are already subject to force majeure, including road and rail transportation services, MMG said. Despite being in place intermittently through...Read More

Spot market copper concentrate treatment and refining charges (TC/RCs) rose by around 5% in the week ending Thursday December 24 with smelters better supplied for the first quarter. The index is now at the highest since July 3. Deals to smelters continued in the high $40s and low $50s for clean qualities, just below the quarterly purchase...Read More

China's Copper Smelters Purchase Team (CSPT) has set its first-quarter copper concentrate treatment and refining charge (TC/RC) buying floor at $53 per tonne / 5.3 cents per lb, down from $58 / 5.8 cents for the fourth quarter, sources told Fastmarkets. This comes after annual benchmark TC/RCs, fees paid to smelters for processing concentrates into metal, for 2021 dropped 4% to $59.50 per tonne /...Read More

Hot-dipped galvanized coil prices continued to increase in Turkey's local market in the week to Thursday December 24, while demand was good because of low stock levels following a recent shortage of coated supply, when some producers had limited hot-rolled coil feedstock, sources told Fastmarkets.Domestic pricesFastmarkets' weekly price assessment for steel hot-dipped galvanized coil domestic, exw...Read More

Market participants reported healthy demand for flat steel in the Turkish market in the week to Thursday December 24 with buyers securing material ahead of expected further price increases. Hot-rolled coil producers in Turkey are offering product for April production and cold-rolled coil is being offered for late February production at the earliest. Production costs also kept increasing this week,...Read More

Offers for steel billet from the Commonwealth of Independent States remained high this week despite buying activity only really being seen in Turkey, sources told Fastmarkets on Thursday December 24.Billet offers from major Russian and Ukrainian suppliers were heard at $600-605 per tonne fob Black Sea on Thursday, up from $580-600 per tonne fob on Monday December 21.One electric-arc furnace (...Read More

Prices for imported hot-rolled and cold-rolled steel coil in the United States surged to their highest levels in more than 12 years amid speculation that scarcity will drive prices higher still in the first quarter of 2021. Import offers are selling out quickly because of "the perception of the market that the US mills are only going to be higher in February, March and April," a national distribut...Read More

Base metals prices on the Shanghai Futures Exchange were up across the board this morning, Thursday December 24, while those on the London Metal Exchange were mixed.Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, suggesting markets are content to consolidate while many cross currents muddy the waters.Markets seems to b...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.The British Pound moved higher on news that the United Kingdom and Europe are set to announce a Brexit trade deal.Alibaba dropped $8.76 to $247.42 after the Chinese government launched an anti-trust probe on the company. On the charts, the stock moved below $252.55 completing a modified He...Read More