Here are five Fastmarkets MB stories you might have missed on Thursday January 23 that are worth another look.The digitalization of global trade received another push this week, with the International Chamber of Commerce (ICC), the government of Singapore and industry participants signing an agreement to facilitate and accelerate the adoption of technologies in commerce at the World Economic Forum...Read More

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products....Read More

Hudbay Minerals has appointed Peter Kukielski the company's president and chief executive officer, the copper-zinc miner said on Wednesday January 22.Kukielski has been serving as interim president and CEO of Hudbay since July 2019, a period which coincides with a US District Court blocking the company's Rosemont project."We are very pleased to appoint Peter as Hudbay's president and chief executi...Read More

January Silver Deliveries continue to make anyone who watches these antics frustrated because the cloud of secrecy continues...submitted by J. Johnson via JS MinesetGreat and Wonderful Thursday Morning Folks, Gold is lower in the early morning with the trade at $1,560.00 (April Contract) down $3 and recovering from the London Bop at $1,557.50 with the high to beat at $1,569.40. March Silve...Read More

LME three-month copper fell to its lowest price since December 5 on Thursday January 23, dipping belowthe $6,000-per-tonne support level at the close amid strong turnover, while tin led the complex in terms of losses. Copper's outright price on the London Metal Exchange closed at $5,987 per tonne this afternoon, falling from an intraday high of $6,116 per tonne, while turnover was at its highest l...Read More

The seaborne coking coal market was quiet on Thursday January 23 with many participants in China already away for the Chinese New Year, though a mysterious respiratory virus that is spreading across the country is clouding the outlook for prices.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $162.73 per tonne, unchangedHar...Read More

The three-month aluminium price on the London Metal Exchange dipped below nearby support levels during morning trading on Thursday January 23 on a rewarranting of 68,875 tonnes, while copper's price struggles continued. Aluminium's outright price on the LME was recently at $1,797 per tonne, 0.7% below Wednesday's closing price of $1,811 per tonne and sinking below the key threshold. Turnover in a...Read More

Alumina prices rose in an active week of trading ahead of the week-long Lunar New Year holidays starting on January 24 in China, which market participants say will dampen liquidity through the rest of January. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $277.92 per tonne on Thursday, up from 275.93 per tonne last Thursday. The index has been range-bound so far in 202...Read More

Turkish deep-sea scrap import prices went down once again on the news of a fresh deal for a UK-origin cargo heard on Thursday January 23.The cargo was booked late on January 22 by a steel mill in the Iskenderun region at $277 per tonne cfr for 22,000 tonnes of HMS 1&2 (80:20).This transaction compared with the most recent cargo sold at $295 per tonne cfr for HMS 1&2 (95:5) from the United States o...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday January 23 that are worth another look.The digitalization of global trade received another push this week, with the International Chamber of Commerce (ICC), the government of Singapore and industry participants signing an agreement to facilitate and accelerate the adoption of technologies in commerce at the World Economic Forum...Read More

Exports of non-ferrous scrap from the United States increased by 3.7% in the first 11 months of last year, reaching more than 2.8 million short tons, with aluminium the only metal to register an increase during the period.Zinc, meanwhile, recorded the biggest year-on-year decline, with shipments abroad falling by 23.2% to 31,940 tons from January-November 2019 versus the same period the previ...Read More

Hudbay Minerals has appointed Peter Kukielski the company's president and chief executive officer, the copper-zinc miner said on Wednesday January 22.Kukielski had been serving as interim president and CEO of Hudbay since July 2019, a period that coincides with a US District Court blocking the company's Rosemont project."We are very pleased to appoint Peter as Hudbay's president and chief executiv...Read More

Chilean state-run copper producer Codelco started production from the expansion to its El Teniente division on Thursday January 23, 10 months ahead of schedule, the company said on the day.The expansion is the first step in a project that will increase mine life by 50 years by 2023, Codelco added.The miner has invested $759 million in phase 1 of the expansion, called the Recursos Norte project, wh...Read More

Polished sentiment positive following steady holiday sales. Strong interest in 0.30 ct., D-F, IF-VS1, but high-end 3 ct. and larger weak. Increasing rough demand raising polished-oversupply concerns as large quantities expected to enter market in coming weeks. De Beers lifts prices in some categories at Jan. sight and plans changes to rough buying criteria. De Beers 2019 sales -8% to 31M cts. Alro...Read More

Polished slower than usual for this time of year. Dealers worried about repeat of 2019 diamond glut as they anticipate influx of rough following large De Beers and Alrosa January sales. Chinese New Year offering some optimism for suppliers. Local Indian jewelry market weak amid tight liquidity and high gold prices. RoundRead More

RAPAPORT... De Beers plans to abandon its practice of using sightholders' purchase history as the main factor in determining how it allocates rough supply, sources have told Rapaport News.The move, which would go into effect from 2021, would see the miner shift to more subjective criteria for deciding the value of goods each client receives.The current system, known as "demonstrated demand,"...Read More

Prices for some imported flat steel products moved up again in the United States, with importers reluctant to bring in competitive offers from overseas due to a lack of buying interest.Market participants previously said that imports could become attractive again after a collective effort by domestic flat-rolled steel mills to push prices up. While prices for domestic flat-rolled steel produc...Read More

RAPAPORT... Craig Danforth will join the advisory board of Gem Legacy, a nonprofit organization dedicated to supporting African colored-gemstone mining communities.Danforth, the vice president of client solutions for Jewelers Mutual Group, has more than 25 years of experience in training, sales, marketing and finance, Gem Legacy said Tuesday. He is also on the board of directors for the Women...Read More

Hot-rolled coil prices in the United States moved closer to $30.50 per hundredweight on Thursday January 23 despite deep unease among some steel buyers about staying power at that level.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.44 per cwt ($608.80 per ton) on Thursday, up 1.4% from $30.03 per cwt the previous day but down 1% from $30.75 per cwt a week e...Read More

RAPAPORT... DelGatto Diamond Finance will provide funding directly to customers of rough and polished tender operator Koin International. "All buyers can obtain financing," DelGatto founder Chris Del Gatto told Rapaport News Wednesday. "It will be up to them if they want to reach out to us prior and discuss what they think they want financing-wise, or they can even do it the day of the tender...Read More