RAPAPORT... China saw strong growth in platinum-jewelry demand in the fourth quarter of 2020, as the economy began to rebound from the coronavirus pandemic, Platinum Guild International (PGI) reported.Demand for branded collections grew by up to double-digit figures in the country compared to the same period in 2019, the trade organization said last week. Platinum-jewelry manufacturing rose 14% ye...Read More

RAPAPORT... The discussion surrounding conflict diamonds has evolved. Frustrated by the failure of the Kimberley Process (KP) to address today's broader ethical challenges, the trade has developed several programs to compensate. Groups such as the Responsible Jewellery Council (RJC) and private entities have systems in place to assure buyers that their diamonds can be fully accounted for, have don...Read More

The European ferro-titanium price dropped over the week to Wednesday March 3, with the range widening lower, which surprised industry sources because an acute shortage of scrap has been pushing up all titanium markets in recent months, sources said.The dip in ferro-titanium prices should be brief, however, given the upward pressure on prices from tight feedstock supplies, which is squeezing alloy...Read More

Trafigura has confirmed it will hold a 19% stake in the Goro nickel mining and processing complex in the South Province of the French territory of New Caledoniia, 1,200km east of Australia.The announcement by the Swiss trading and mining company comes alongside reports that electric vehicle car maker Tesla will source material from the mine for use in its batteries.Trafigura is part of the Prony R...Read More

Some US aluminium traders reacted positively to Commerce Secretary Gina Raimondo's comments on the Section 232 steel and aluminium tariffs, which she called "effective" in a televised interview on Thursday March 4."Let me say those tariffs have been effective. The data show that those tariffs have been effective. And I think what President Biden has said is we're going to have a whole-of-governmen...Read More

Copper is effective at killing bacteria on high-touch transit surfaces, results from a trial study backed by Canadian miner Teck Resources showed.Based on sample-testing that was performed on transit and in a lab, the trial concluded that select copper products on transit are durable and kill up to 99.9% of all bacteria within one hour of the bacteria's contact with the surface.The trial, which be...Read More

The sell-off in the London Metal Exchange three-month nickel price continued on March 4, with the metal down to its lowest since November 2020 during early trading, with a higher US Dollar also dragging the rest of the complex down by an average of 2%.The US Dollar was up to as much as 91.17 at 9am, from Wednesday's 5pm reading of 90.88, while the rise in yields of the US 10-year Treasury bonds to...Read More

China's stainless steel prices decreased in the past week amid a flagging nickel market.The three-month nickel contract on the London Metal Exchange ended the official session on Wednesday March 3 at $17,864 per tonne, down by $1,538 per tonne (7.9%) from $19,402 per tonne a week earlier.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 15,600-16,900 yuan ($2,412-2,613) per t...Read More

Chinese nickel premiums widened upward in the week to Tuesday March 2, with a favorable import arbitrage and increased spot liquidity providing support, while terms in Europe and the United States were broadly flat.Nickel premiums rise in China, ore prices set another record highEuropean cut cathode premium rises 5%, others flatUS premiums unchanged as participants remain watchfulChina's refined m...Read More

Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliThe company started drilling in mid-December and after a short break for Christmas, Xtract announced on January 12 that "significant copper mineralisation" had been intersected in the first hole fromRead More

Eight industry associations representing various steel end-consumers in Europe have sent a letter to the European Commission (EC) asking for termination of the region's safeguard measures imposed on steel imports.The European Commission started an investigation on February 26 into the possible extension of existing safeguard measures, which are applied to imports of 26 steel product categories.The...Read More

Import prices for flat-rolled steel in South America soared in the week to Friday February 26 on a swift increase in bulk freight rates and higher offers from Chinese mills, returning to the market after the Lunar New Year holiday, sources said.By the end of the week, some of offers previously presented to the continent were pulled, due to uncertainties regarding delivery. Reduced availability of...Read More

Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliThe update comes as copper remains close to a near-10-year high reached in February, when it surged above US$9,000 a tonne and $4/lb for the first time since 2011, on tight supply and economic optimism.SAVANT's global activity dispersion index average was 45.8 for February, compared with 46.5 a month earlier when significant fall...Read More

Domestic prices for steel hot-rolled coil (HRC) in Northern Europe inched further up day on day on Thursday March 4 due to a coil shortage and strong demand, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?750.00 ($905.59) per tonne on Thursday March 4, up by ?,?1.25 per tonne from ?,?748.75 per tonne on March 3, based...Read More

Turkish steel billet prices have advanced over the past week due to rising imported scrap costs, market participants told Fastmarkets on Thursday March 4.The latest deep-sea scrap transaction was recorded late on February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20). This raised the daily scrap index for US-origin material - which tends...Read More

Fastenal ((FAST), a NASDAQ 100 stock moved below $45.26 completing a double top pattern.Medical Devices iShares (IHI) moved below intermediate support at $325.11 Technical Notes for Wednesday March 3rdSalesforce.com (CRM), a Dow Jones Industrial Average stock moved below $212.99 extending an intermediate downtrend. AutoDesk (ADSK), a NASDAQ 100 stock moved below $272.70 completing a double to...Read More

Turkish domestic long steel prices increased over the past week because of rising imported scrap costs, but demand has not supported the rises, market participants told to Fastmarkets on Thursday March 4.Late on February 26, a steel mill in the Marmara region booked Baltic Sea-origin shipment of HMS 1&2 (80:20) scrap at $456 per tonne cfr, which pushed up the daily scrap on March 1, with Fastmarke...Read More

Turkish rebar and wire rod export prices have gone up further this week on increasing scrap costs, market sources said on Thursday March 4.The latest deep-sea scrap transaction was recorded late on February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20). This raised the daily scrap index for US-origin material - which tends to reflect Balt...Read More

The Turkish steel producers have resumed their deep-sea scrap purchases after a short break and have booked two cargoes at slightly higher prices, market sources said on Thursday March 4.A steel mill in the Marmara region booked a Canadian cargo, comprising 18,000 tonnes of HMS 1&2 (95:5), 18,000 tonnes of shredded and 7,000-8,000 tonnes of plate and structural (P&S), at an average price of $471 p...Read More

Join Fastmarkets and steel industry experts on Wednesday March 10 for a special webinar on the revival of the Chinese steel scrap import market - 'Understanding China's Steel Scrap Market Dynamics.'Fastmarkets has been at the forefront of reporting deals, obstacles and key regulatory changes in the Chinese steel scrap import market over the past year and on February 8 2020, started a daily pr...Read More