Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction...Read More
The European titanium scrap market, which was steady in the week to Wednesday January 27, looks set to resume its price rally that started in September 2020 in the near term, market sources told Fastmarkets. Fastmarkets' titanium scrap turnings, unprocessed type 90/6/4, 0.5% Sn max, cif Europe price stood at $1.60-1.75 per lb in the latest assessment on Wednesday, while titanium scrap tu...Read More
The price of tin on the London Metal Exchange rose to a new 2021 high on Thursday January 28, while the rest of the base-metals complex showed mixed results at the 5pm close.Zinc, notably, was holding its ground after a 2.7% decline on Wednesday, but the prices of nickel and aluminium drifted lower.Tin's continued rise on Thursday led it to a new year-to-date high of $23,075 per tonne during the d...Read More
Iron ore prices fell on Thursday January 28, with weak mill margins and expected crude steel production cuts weighing on market sentiment, sources told Fastmarkets Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $157.42 per tonne, down $9.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $158 per tonne, down $8.65 per tonne58% Fe fines high-grade premium, cfr Qingdao: $143.81 pe...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part weaker this morning, Thursday January 28, after market sentiment across the board has turned more cautious. Asian-Pacific equities and major western pre-market equity index futures were weaker this morningUS Dollar Index firmed on Wednesday while equities sold-offBase metals There were more fallers...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.It was only a couple of months ago that contract buyers of coated steels - represented in large part by market participants from the automotive sector - were grudgingly resigned to paying as much as ?,?100 ($120) per tonne more for their contracted shipments in 2021 compared with in 2020. Increases in contract prices of...Read More
Mixed sentiment as trading has slowed from previous weeks. Polished inventory increasing after strong Dec.-Jan. rough buying. High expectations for China retail recovery during Chinese New Year. US Jan. consumer confidence +3%, boosted by stimulus package, says Conference Board. Concerns due to rising Covid-19 infections, 6.7% unemployment, and slow vaccine rollout. US jewelry trade -2.2% in 4Q to...Read More
RAPAPORT... Swiss watch exports continued to recover in December as robust Chinese demand helped offset declines in other countries.Global shipments fell 2.5% year on year to CHF 1.72 billion ($1.93 billion) for the month, the mildest drop since the beginning of 2020, the Federation of the Swiss Watch Industry reported Thursday.Exports to China soared 45% to CHF 306.6 million ($344.6 million). How...Read More
RAPAPORT... De Beers has reduced its 2021 production plan for a second time, citing operational issues at mines, even as diamond demand looks strong at the start of the year.The company expects to recover 32 million to 34 million carats this year, compared with a previous outlook of 33 million to 35 million carats, parent company Anglo American said Thursday."Ongoing operational challenges" a...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key themes – OPEC+ production, Covid-19 developments, and the energy transition.Following...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The New York Harbor Product Storage report is the first of its kind and relies on the same highly calibrated infrared camera, aerial diagnostic and proprietary technologies we use to measure and deliver our industry standard Cush...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Rising stocks of concentrate, high treatment charges and difficulties in selling less desirable qualities of concentrate was expected to result in mine production losses over the next few years. But coronavirus has changed this dynami...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Different markets, different cycles. Mining companies suffered for their sins in the downturn a little earlier than the oil and gas sector. Now they are emerging into a new upturn, also ahead of the game. What challenges do...Read More
Key data from the pricing session in London on Wednesday January 27.Key drivers The European ferro-tungsten market recovered in the first half of the week following the sharp downward moves of the past few weeks, with sellers starting to refuse lower bids. The market had been on a downtrend for the past two weeks with prices dropping by almost 8% amid profit taking and expectations of mo...Read More
(IDEX Online) - De Beers has revised down its production guidance for 2021 by three per cent, blaming operational issues and lower output at its Venetia mine, in South Africa, rather than a Covid-related lack of demand.Its forecast is now down by a million carats at 32m to 34m carats, rather than the original 33m to 35m carats.Parent company Anglo American says in its Production Report Q4 2020 tha...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
(IDEX Online) - Visitors to the USA's only active diamond mine recovered over 80 carats last year. The Crater of Diamonds State Park, near Murfreesboro, in Arkansas, charges day trippers $10 a day to sift the soil - and lets them keep any gems they find. It says 2020 was a record-breaking year, despite an enforced closure form March to May because of coronavirus. The largest find was a 9.07-c...Read More
Turkish steel producers continued to book deep-sea scrap cargoes at steady prices on Thursday January 27, after reviving their interest in imports on Wednesday following a sharp downturn in scrap values, sources told Fastmarkets.A steel mill in the Iskenderun region booked a cargo from the United States, comprising HMS 1&2 (80:20) at $416 per tonne, shredded at $421 per tonne and bonus scrap at $4...Read More
(IDEX Online) - British jeweler David Morris is breaking the mold by launching a high-end collection online, rather than through a virtual presentation at the Paris haute couture week.It's partnering with Farfetch, the British-Portuguese luxury fashion retail platform to give buyers their first glimpse of its Renaissance range.Among the high-value one-off pieces on offer are the Monsoon Neckl...Read More
The shortage of container shipping is a "snowballing problem" that is impeding exports of scrap products from the United States, according to industry participants at a recent virtual meeting of the Institute of Scrap Recycling Industries (ISRI).The global tightness in containers supply, combined with the confusion surrounding China's implementation of their new policy for copper scrap imports, is...Read More