The London Metal Exchange will launch a new lithium futures contract on Monday July 19, settled against Fastmarkets' assessment for battery-grade lithium hydroxide. The contract will help cater to a growing need among original equipment manufacturers (OEMs), improving risk management across the supply chain, experts said.Antonio Masiero, the LME's product development manager, confirmed the launch...Read More

The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More

Domestic prices for hot-rolled coil across Europe have remained high despite a slowdown in demand and competitive import offers, sources told Fastmarkets on Wednesday July 14.Buyers were reported to be largely inactive in the market due to the effect of the seasonal slowdown. They have also been holding back from acquiring substantial volumes over the past few weeks, mainly due to still-high price...Read More

Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...Read More

Market terms for copper concentrates reached a 10-year high in April 2021; since then it has only been uphill for sellers.Fastmarkets' calculation of the index for copper concentrates TC/RC, which measures a mid-point for processing fees paid to smelters, hit $42.40 per tonne/ 4.24 cents per lb on July 9, almost double the low set on April 9.Over the weekend, information began to filter throu...Read More

Tin continued to be unaffected by global macroeconomic pressures and reached a new year-to-date peak of $32,775 per tonne on the afternoon of Wednesday July 14, while other base metals traded on the London Metal Exchange ended the day's session with lower prices.The three-month price for tin closed 0.8% higher on Wednesday at $32,661 per tonne compared with Tuesday's 5pm price, with its all-time h...Read More

Iron ore prices were largely rangebound on Wednesday July 14 despite activity on the trading platforms, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.66 per tonne, up by $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.00 per tonne, down by $1.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $178.41 per tonne, down by $0.25 per tonne65% Fe...Read More

China's domestic rebar prices gained upward momentum on Wednesday July 14 due to a reduction in steel production in several provinces.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, up by 100-120 yuan per tonneThe China Iron & Steel Association (Cisa) reports that steel production dropped sharply in early July, posting a second consecutive 10-day...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 14.Please click...Read More

RAPAPORT... A rare 2-carat Argyle diamond fetched AUD 2.2 million ($1.6 million) at the first public tender of pinks originating from the mine, setting an Australian record.The fancy-purplish-pink stone, called the Fitzpatrick Pink, was expected to garner between AUD 1.5 million and AUD 2.5 million ($1.1 million and $1.9 million), Yourdiamonds.com, the sale's organizer, said Wednesday.The seller w...Read More

Domestic prices for cold-rolled coil in Europe have remained high despite competitive import offers to the region in the week to Wednesday July 14, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, import, cfr main port Northern Europe, was ?,?1,150-1,200 ($1,360-1,419) per tonne on July 14, down by ?,?50 per tonne week on week from ?,?1,200-1,250 per tonne.The assessmen...Read More

RAPAPORT... Belgian diamond manufacturer HB Antwerp has launched a training and education center for current and prospective members of the trade, the latest move in the company's speedy expansion drive.The HB Academy, based in Antwerp, will have three components: training for people who want to become diamond specialists, courses for customer-facing jewelers, and a continuing-education progr...Read More

RAPAPORT... The Gahcho Ku?(C) mine is on track to achieve its 2021 production forecast after strong second-quarter output compensated for a shutdown earlier this year, Mountain Province said.Total production from the site in Canada rose 14% year on year to 1.8 million carats during the three months ending June 30, the part owner reported Tuesday. The figure was also 27% higher than the 1.4 million...Read More

(IDEX Online) - China's diamond trade is surging, as it bounces back from the pandemic and benefits from crackdowns on smugglers and money launderers.The Shanghai Diamond Exchange (pictured) reports $3.82bn in total rough and polished transactions in the half-year to June, an increase of over 86 per cent on the same period in pre-Covid 2019.Imports of polished goods came to $1.58bn, up by alm...Read More

RAPAPORT... Lucara Diamond Corp. has unearthed four fancy-pink diamonds from its Karowe mine in Botswana, the largest of which weighs a whopping 62.7 carats.The type IIa diamond, which the miner named Boitumelo - meaning "joy" in the local Setswana language - came from the high-value EM/PK(S) portion of Karowe's south lobe, Lucara said Tuesday. Boitumelo is the largest fancy-pink diamond to be rec...Read More

(IDEX Online) - Fugitive diamond dealer Mehul Choksi has been granted bail by a court in Dominica, so he can return to Antigua for medical treatment.Choksi, 62, is wanted in India, where he is accused of defrauding the Punjab National Bank out of $1.85bn.The Eastern Caribbean High Court, in Dominica, allowed him bail on Monday, demanding a bond of just 10,000 Eastern Caribbean dollars - equivalent...Read More

(IDEX Online) - Lucara has recovered a huge fancy pink Type IIa diamond - weighing 62.7 carats - from its Karaowe mine, in Botswana.The Canadian miner said it was one of the world's largest rough pink diamonds on record.It was recovered from direct milling of ore sourced from the EM/PK(S) unit of the mine's South Lobe, along with three other large fancy pinks of similar quality - weighin...Read More

RAPAPORT... New Jersey-based Bergio International, a jewelry designer and manufacturer, has acquired a majority stake in Gearbubble, a company that helps businesses sell items on the internet.Headquartered in Las Vegas, Gearbubble is an e-commerce fulfillment platform that aims to improve clients' experience when listing products on sites such as Amazon and Etsy. Bergio has bought 51% of Gear...Read More

Investment and management company Dada Holdings has sold a portion of its stake in New Day Aluminum Holdings to Concord Resources Ltd, the companies said.The deal, for an undisclosed sum, gives the commodities merchant trader a substantially larger equity interest in New Day, which is the parent of Noranda Bauxite, Noranda Alumina and Niche Industrial Chemicals.In addition to retaining a minority...Read More

Market terms for copper concentrates reached a 10-year high in April 2021; since then it has only been uphill for sellers.Fastmarkets' calculation of the index for copper concentrates TC/RC, which measures a mid-point for processing fees paid to smelters, hit $42.40 per tonne/ 4.24 cents per lb on July 9, almost double the low set on April 9.Over the weekend, information began to filter throu...Read More