China's biggest metals conglomerate, Minmetals, has hired Julio Cesar Rojas Ramirez to develop its copper concentrates blending business and the utilitization of its copper smelting capacity, Fastmarkets has heard.Prior to joining Minmetals, Rojas was director for primary raw materials with Aurubis, Europe's biggest copper smelter.His previous roles include head of global sales at Nyrstar and seni...Read More
Gold's sharp plunge in the wake of the FOMC spilled into silver, which amplified it. That selling and the resulting bearish psychology has...by Adam Hamilton of Zeal LLCSilver Miners' Q2'21 FundamentalsThe silver miners' stocks have been pounded lower this summer, collateral damage from gold's selloff on distant-future-Fed-rate-hikes fears. That has devastated this tiny contrarian sector's psy...Read More
4 big takeaways on where we're at in the second half of 2021...By Matt from Silver Fortune via Silver Fortune4 big takeaways on where we're at in the second half of 2021...*** Please Note: If our comment section looks different, it's because we were served notice today that our commenting partner has terminated their relationship with us due to Fake News. Please see the notice here. Also note, thi...Read More
Aluminium's three-month price had the strongest growth in the complex this month, trading at $2,726.50 per tonne on Tuesday August 31, while most other prices on the London Metal Exchange were lower than on August 2. Aluminium closed at $2,718 per tonne on Tuesday, a rise of 2.6% from last Friday's price of $2,649.50 per tonne and up from $2,615 per tonne at the start of August. Bullish funda...Read More
The London Metal Exchange's new digital register for physical metals data, LMEpassport, will launch on October 1, starting with aluminium, the exchange announced on Tuesday August 31.LMEpassport will store electronic Certificates of Analysis (CoAs), which are specification and quality assurance documents that must accompany shipments of LME metals into and out of warehouses.It will also store sust...Read More
Domestic hot-rolled coil (HRC) prices in China edged lower on Tuesday August 31; futures prices pulled back due to the latest factory activity data prompting concerns over the country's economic recovery.DomesticEastern China (Shanghai): 5,700-5,730 yuan ($881-886) per tonne, down by 20 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange came down from its highest leve...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More
RAPAPORT... Hong Kong's hard-luxury market saw its weakest growth figure for six months as the retail sector's rebound ran out of steam amid a lack of tourism.Revenue from jewelry, watches, clocks and valuable gifts grew 27% year on year to HKD 3.2 billion ($410.6 million) in July but was still 42% lower than in the same month of 2019, the municipality's Census and Statistics Department repor...Read More
RAPAPORT... A diamond ring garnered nearly triple its high estimate following a bidding frenzy at a recent Fellows auction.The old-cut, 4.86-carat diamond ring fetched GBP 16,588 ($22,705) at the August 26 jewelry sale, beating its upper valuation of GBP 6,000 ($8,213). That price is one of the highest ever achieved for a single item of jewelry in a timed, online-only sale at UK-based Fellows...Read More
RAPAPORT... As the Las Vegas diamond and jewelry shows ended on Monday, mask-clad vendors expressed satisfaction with the amount of business they'd conducted during the past week."I'm so glad I came," said Mishael Vardi, owner of Israel-based VMK Diamonds, a supplier of fancy-color diamonds. "I met a lot of people, and those people came to do business." There were serious buyers, added a New...Read More
(IDEX Online) - American rapper and actress Cardi B was weighed down with carats when she appeared on stage with an estimated $2.5m of bling.The 28-year-old wore dozens of dazzling high-end pieces for her performance at the annual Summer Jam hip-hop and R&B fest at the MetLife Stadium, New York.The most valuable single item was a 20-carat heart-shaped diamond ring from her husband Offset, also...Read More
(IDEX Online) - Alrosa is set to pay out record dividends to shareholders this year after a swift recovery from the pandemic.The Russian miner is proposing an allocation of RUB 64.7bn ($880m) for H1 2021, equal to its entire free cash flow.It says it expects an even higher allocation in H2, which could bring the annual total for 2021 to as much as RUB 135bn ($1.84bn).The H2 2020 dividends amounted...Read More
RAPAPORT... Four US jewelry retailers weigh in on whether their clients are concerned about products' sustainable origins.Cathy Calhoun (pictured, top left)owner, Calhoun JewelersRoyersford, Pennsylvania"It's hardly an issue for me here in Royersford, but I opened Calhoun Estate Jewelers in Carmel by the Sea in California, and it is an issue out there. Since it's estate jewelry, I present it...Read More
(IDEX Online) - Bluerock's largest ever rough gem from its Kareevlei mine in South Africa has sold for $585,000.The 58.6-carat stone is a D-color makeable (pictured) - colorless but with spotted black sulphide intrusions.The London-based AIM-listed miner also sold a 21.6-carat stone for $268,000. A 14.3-carat stone fetched $236,000 - setting a company record this year at $16,500 per carat.The...Read More
The mood in the European hot-rolled coil market soured in the week ended Friday August 27 after both buyers and producers started to return after the summer holiday in August.Trading activity has been limited while buyers follow a wait-and-see strategy.Buyers expect domestic coil prices to decline in September due to lower raw material costs.Demand outlook for the automotive segment - one of the k...Read More
The European hot-rolled coil (HRC) market remained calm on Tuesday August 31 while buyers remained in a "wait-and-see" mode, sources told Fastmarkets.Although both buyers and sellers have returned to the market after a traditionally slow August, they have been taking their time to assess market trends. Buyers' sentiment has been largely negative due to lower iron ore costs, uncertainty over automo...Read More
Aluminium's three-month price had the strongest growth in the complex this month, trading at $2,726.50 per tonne on Tuesday August 31, while most other prices on the London Metal Exchange were lower than on August 2. Aluminium closed at $2,718 per tonne on Tuesday, a rise of 2.6% from last Friday's price of $2,649.50 per tonne and up from $2,615 per tonne at the start of August. Bullish funda...Read More
The London Metal Exchange's new digital register for physical metals data, LMEpassport, will launch on October 1, starting with aluminium, the exchange announced on Tuesday August 31.LMEpassport will store electronic Certificates of Analysis (CoAs), which are specification and quality assurance documents that must accompany shipments of LME metals into and out of warehouses.It will also store sust...Read More
China's biggest metals conglomerate, Minmetals, has hired Julio Cesar Rojas Ramirez to develop its copper concentrates blending business and the utilitization of its copper smelting capacity, Fastmarkets has heard.Prior to joining Minmetals, Rojas was director for primary raw materials with Aurubis, Europe's biggest copper smelter.His previous roles include head of global sales at Nyrstar and seni...Read More
London Metal Exchange prices were mixed on the morning of Tuesday August 31, with aluminium and nickel leading on the upside due to tightening fundamentals but lead's three-month price under pressure. Aluminium's three-month price reached a peak of $2,726.50 per tonne on Tuesday morning, its highest since May 2011, when the metal reached $2,746 per tonne. It was down slightly to $2,697.50 per...Read More