Iron ore prices fell on Tuesday July 27 because of weaker sentiment and rising port inventory, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $202.57 per tonne, down by $0.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.97 per tonne, down by $0.96 per tonne58% Fe fines high-grade premium, cfr Qingdao: $166.29 per tonne, down by $1.36 per tonne65% Fe Brazil-origin fines...Read More
Seaborne coking coal prices stayed large stable in both the cfr and fob markets on Tuesday July 27, with market participants in the later market waited for a sale tender result from a Europe steel mill, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $214.30 per tonne, down $0.33 per tonnePremium hard coking coal, cfr Jingtang: $315.76 per tonne, up $0.69 per tonne ...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 steady climb in copper prices since mid-2020 – and the more recent launch into the stratosphere – puts me in mind of Senator Gracchus in the film Gladiator. Specifically, his observation that fear and wonderment is a p...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.Proposed changes to Chile’s mining royalty regime will not have a drastic impact on the country’s production landscape in the near-term.However, analysis from global natural resources consultancy Wood Mackenzie, a Verisk c...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.Over 650 GW of new onshore and 130 GW of new offshore wind capacity will be installed between 2018 and 2028. This will consume in excess of 5.5Mt of copper, according to a recent analysis by Wood Mackenzie.Henry Salisbury, Wood Macken...Read More
RAPAPORT... Some 143 US jewelry businesses shut their doors in the second quarter of 2021, 53 more than the same period last year, according to data from the Jewelers Board of Trade (JBT).In total, the sector downsized 1.8% year on year to 24,021 companies active during the three months, the JBT said Monday.Of the businesses that discontinued operations in the second quarter, two firms went bankru...Read More
RAPAPORT... LVMH saw sales of watches and jewelry triple in the first half of 2021, boosted by its Bulgari brand, the acquisition of Tiffany & Co., and a strong rebound in demand.Revenues in the category jumped to EUR 4.02 billion ($4.74 billion) in the six months ending June 30, compared to EUR 1.32 billion ($1.55 billion) a year ago. LVMH reported Monday. Sales for the segment also beat pre-...Read More
(IDEX Online) - Coronavirus has caused global devastation, but for a diamond industry that was in turmoil, it may prove to have been a blessing in disguise.It has emerged from the depths of pandemic lockdowns and is now in position that was "unimaginable 12 months ago," say experts Pranay Narvekar and Chaim Even Zohar in IDEX's new state of the industry analysis - Pipeline 2020 - which is ava...Read More
(IDEX Online) - A diamond ring owned by the legendary Sammy Davis Jr sold for $69,000, way above its high estimate of $40,000 at Bonhams' California.The octagonal-shaped modified brilliant-cut diamond (pictured) was GIA-certified as 6.28-carats, K-color and VS1-clarity.Another piece that belonged to the flamboyant performer, an 18-karat gold, 10.75-carat fancy brown diamond and diamond ring,...Read More
(IDEX) - Tiffany & Co is suffering a backlash over its new ad campaign - condemned on social media as disgusting, disrespectful and ageist.Posters of grungy young women with attitude (pictured), headlined Not your mother's Tiffany, have appeared by roadsides in Los Angeles, USA.It follows the on-off-on-again $16.2bn buyout by luxury conglomerate LVMH and the appointment of 29-year-o...Read More
Two of the biggest topics facing miners are electrification and automationSPONSOREDauto-mateZinc-lead discovery helps Zenith double market capSPONSOREDzenith mineralsHigh-grade Costerfield gold mine drives turnaroundSPONSOREDmandalay resourcesNZ heeds the call of Siren GoldSPONSOREDsiren goldThe company is undertaking a 26,000m programme this year including about 16,000m of resource definition dri...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday July 27, after a generally upbeat day on Monday, while the base metals on the Shanghai Futures Exchange were mixed this morning.* Chinese equities under pressure again today – market worried about regulatory intervention* Pre-market western equity index futures showing a weaker start againBase metalsLME thre...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow fell in the week to Monday July 26, mainly due to slow activity in the market and expectations of further price declines, sources told Fastmarkets.Market participants expected the downtrend to continue while the market reacts to the imposition of an export duty on steel products from Russia. This will be in effect from...Read More
* Senior judges say appeal has "real prospect of success" * Claimants' lawyers hail ruling as "monumental judgment" * BHP says proceedings do not belong in UK * 2015 dam failure caused Brazil's worst environmentaldisaster (Adds no comment from Vale) By Kirstin Ridley LONDON, July 27 (Reuters) - London's Court of Appeal made aU-turn on Tuesday by agreeing to reopen a $7 billion...Read More
All base metals prices on the London Metal Exchange fell on Tuesday July 27 at the close of trading, after an exuberant afternoon on Monday, with nickel's price most badly affected and down by 1.8%.Nickel's price fell to $19,357 per tonne at 5pm on Tuesday, after closing at $19,717 per tonne on Monday. This was its highest 5pm price since February, and close to its year-to-date high of $20,110 per...Read More
Noront Resources has recommended that its shareholders accept a Canadian $325 million ($258.72 million) offer from BHP, which is 75% higher than another take-over offer made in May for the future nickel sulfate producer.Market observers said the bidding war underscored interest in electric vehicle battery components.Noront owns the early-stage Eagle's Nest deposit, which it says is the largest hig...Read More
The US Midwest aluminium premium shot to a new all-time high on Tuesday July 27, after a strike at a Canadian aluminium smelter bolstered already bullish sentiment.Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 31-32 cents per lb on July 27, up 3.28% from the previous all-time high of 30-31 cents per lb, where it had held for since July 9.Spot transactions were reported withi...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Index futures were virtually unchanged following release of the June Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 2.2% versus a gain of 2.3% in May. Actual was an increase of 0.08% . Excluding transportation orders, consensus was an increase of 0.8% versus a...Read More
US-based carmaker Ford is to open a new center to develop, test and build vehicle battery cells and cell arrays at Romulus, in the US state of Michigan, accelerating the company's research and development into future battery manufacturing, the company has said.The new center will be called Ford Ion Park and will be part of the company's renewed commitment to making Michigan a center for its focus...Read More
Nickel producers are putting an increased focus on sustainability credentials in a bid to lock in consumer demand from the automotive industry, sources told Fastmarkets.Increased scrutiny from end consumers and government policy on lower carbon emissions throughout the supply chains have nickel producers looking to highlight sustainability to secure long-term deals. Most recently, internation...Read More