Technical analysis shows targets of $31.30 and $37...by Chris Vermeulen of The Technical TradersChris Vermeulen, founder of Technical Traders Ltd. joins Patrick Vierra on Silver Bullion TV's Metal Money show to discuss the price charts of Silver and Gold for 2021. Chris's application of Fibonacci extensions and technical analysis shows a first upside target for Silver of $31.30 with the 2nd target...Read More

An overview of the consumer electronics markets and their latest price moves.Ewa Manthey, Dalila Ouerghi and...Read More

Domestic prices for hot-rolled coil have increased across Europe in the week to Wednesday January 13, with steelmakers targeting further price rises, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?691.25 ($840.90) per tonne on Wednesday, up by ?,?3.25 per tonne day on day from ?,?688.00 on Tuesday.The index was also up by...Read More

Brass and bronze foundry H Kramer & Co has acquired phosphor copper producer Metallurgical Products Company, a source with direct knowledge of the matter confirmed to Fastmarkets on Wednesday January 13.The financial terms of the deal are not known yet, but the acquisition is understood to have been effective January 1, 2021.The Chicago-based H Kramer "had contracted plenty" in the past with Metal...Read More

The three-month lead price made the biggest gains among the London Metal Exchange base metals complex on January 13, while the copper price closed above $8,000 per tonne, aided by a stable dollar index and the prospect of a new, trillion-dollar stimulus package in the United States. The lead price closed 1.5% higher on Wednesday at $2,051 per tonne at 5pm from Tuesday's closing price of $2,021 per...Read More

Canada-based miner Cornish Metals intends to float a private placement of new common shares on the Alternative Investment Market (AIM) of the London Stock Exchange in the hope that proceeds from the fundraiser will advance one of its copper-tin projects in the UK, it said on Wednesday January 13.The Vancouver-headquartered miner said that, pending regulatory approvals, it proposed to raise ?5 mil...Read More

Aluminium alloy ADC 12 prices in China and Japan continued to trend down in the week to Wednesday January 13 on reduced production costs after the price of aluminium scrap - used as a raw material - weakened. Fastmarkets assessed the price of aluminium ingot ADC12, exw dp China at 16,600-16,800 yuan ($2,567-2,598) per tonne on Wednesday, down 200-400 yuan per tonne from 16,800-17,200 yuan per...Read More

RAPAPORT... Alrosa's sales soared in December to their highest level in almost three years as rough demand continued to gain momentum.Diamond revenues rose 43% year on year to $521.6 million, with rough sales jumping 34% to $470.3 million - totals the Russian miner hasn't exceeded since March 2018, according to Rapaport archives. Polished sales more than quadrupled to $51.2 million from $11.6...Read More

RAPAPORT... The continued operation of Firestone Diamonds is in question amid an extended shutdown of its mine in Lesotho and heavy debt.The miner will keep its Liqhobong deposit closed until it can work out a deal to restructure the more than $80 million in debt it owes ABSA bank, it told Rapaport News Wednesday."We are in discussion with our debtholders to restructure our balance sheet, which is...Read More

Prices for steel hollow sections in Europe have moved upward on continued pressure from the price and availability of feedstock materials, sources told Fastmarkets on Wednesday January 13.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?820-850 ($998-1,034) per tonne on Wednesday, up from ?,?800-820 per tonne one week before.Producers have stru...Read More

RAPAPORT... Alrosa has received approval to sell rough diamonds to Russia's state depository, Gokhran, this year, enabling the miner to offload inventory should the market deteriorate.The company did not sell goods to Gokhran in 2020, as the industry situation improved in the second half of the year, an Alrosa spokesperson told Rapaport News this week. However, the government has given the mi...Read More

Iran's export prices for steel slab and billet remained stable over the week to Wednesday January 13, with about 30,000 tonnes of billet sold during the review period, sources told Fastmarkets.More deals were expected to be done later in the week, but most market participants did not expect any price increases because of the slowdown in the rate of global price rises.The sharp uptrend in global st...Read More

RAPAPORT... The Gemological Institute of America (GIA) has introduced a classification report for unmodified cultured akoya, South Sea and Tahitian pearls.The GIA Cultured Pearl Classification Report includes the size, shape, color, luster, surface, nacre and matching aspects of the jewel, known as the GIA's 7 Pearl Value Factors, the institute said Tuesday. It will also feature a digital image of...Read More

(IDEX Online) - Alrosa sold $521.6m of rough and polished in December, buoyed by the record-breaking Spirit of the Rose diamond, disposal of accumulated stock and strong midstream demand.The state-owned Russian miner acknowledged today that its busiest month of the year was a one-off, and predicted sales in January would be more in line with usual expectations. December's sales were up a...Read More

(IDEX Online) - The GIA has introduced classification reports for cultured pearls.They are based on its 7 Pearl Value Factors -  size, shape, color, luster, surface, nacre and matching  - and include digital images. The Gemological Institute of America's new service is only available for the three major types of cultured pearls, Akoya, South Sea and Tahitian pearls.It says up t...Read More

Flat steel prices in the Turkish domestic and export market were mostly unchanged in the first full week of 2021 after the festive holidays, while local producers were offering material with long lead times, which buyers were hesitant to accept, sources told Fastmarkets.Domestic pricesMarket activity was slow during the week to Friday January 8 because it was the first week of 2021 and some countr...Read More

RAPAPORT... Sales of rough at BlueRock Diamonds increased in 2020 as the miner increased production at its Kareevlei deposit in South Africa.Sales volume rose 29% to 16,290 carats for the year, BlueRock said Tuesday. In addition, the miner sold goods in December 2020, but it did not hold a sale for the same month in 2019. Meanwhile, the average price dropped 29% to $295 per carat. The miner produc...Read More

(IDEX Online) - Debswana has reportedly pulled the plug on a $1.3bn contract to extend the life of its Jwaneng mine, in Botswana, and will carry out the work itself.The company, jointly owned by De Beers and the Botswana government, terminated the deal with Australian mining contractor Thiess and a local partner, according to a Reuters news report. Debswana has given no reason for cancelling...Read More

The price of steel H-beams in Europe has jumped this week, with producers returning to the market after pausing their offers ahead of the Christmas holiday break due to volatile market conditions, sources told Fastmarkets on Wednesday January 13.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?750-770 ($912-937) per tonne on Wednesday, up from ?,?70...Read More

Domestic prices for steel mesh-quality wire rod in the north of Europe unexpectedly surged in the week to Wednesday January 13, amid sharp increases in feedstock costs and persistent supply tightness, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe rose by ?,?45-70 per tonne, to ?,?675-700 ($821-851) per tonn...Read More