An overview of the minor metals markets and the reasons for their latest price moves.Read More
EU domestic prices for hot-rolled coil have increased day on day due to tight supply from European mills and a lack of competitive alternatives from overseas, sources told Fastmarkets on Wednesday February 12.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?476.21 ($519.73) per tonne on Wednesday February 12, up by ?,?2.64 per tonne from ?,?473.57 per tonn...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday February 12 that are worth another look.China may not be the big steady steel rebar buyer that most of us in the market thought it was, the International Rebar Producers & Exporters Association (Irepas) said on February 5 with regards the impact of the novel coronavirus (2019-nCoV).Major Chinese copper smelter Daye Nonferrous,...Read More
Nickel premiums in all regions held steady in the week to Tuesday February 11. European nickel premiums hold in illiquid spot market. The US nickel briquette premium could rise further, though it was flat this week. China nickel premiums were unchanged amid spot illiquidity on a closed arbitrage import window. Rotterdam nickel premiums stabilize in illiquid spot market Premiums for a...Read More
Brazilian multi-metal miner Vale has revised its 2020 nickel production guidance to 200,000-210-000 tonnes per year from 240,000 tpy previously amid its projected "exit" from the Vale New Caledonia (VNC) operations, the company announced on Tuesday February 11.The lower 2020 production guidance comes after Vale indicated that operations at VNC would cease entirely at the end of April 2020 while th...Read More
Major Chinese copper smelter Daye Nonferrous, at the heart of the region affected by the coronavirus outbreak, is managing to continue its copper production activities by destocking the sulfuric acid byproduct at a discount, Fastmarkets has learnt."We have no plans to declare force majeure so far," a source with direct knowledge of the matter said. "We are still receiving overseas shipments of cop...Read More
Demand for aluminium and steel coil in China has come under strain while the novel coronavirus (2019-nCoV) crisis has allowed the gears of the country's automotive sector to grind to a halt.Many manufacturing plants across China - including those in the automotive segment - have paused operations in the past two weeks to February 12 after the government extended workers' Lunar New Year holiday to...Read More
Rio Tinto will conduct a strategic review of its ISAL smelter in Iceland, due to high energy costs and historically low aluminium prices, the company said on Wednesday February 12."ISAL is expected to remain unprofitable in the short to medium term in the challenging conditions facing the aluminium industry, due to the smelter's uncompetitive energy costs and historically low aluminium prices," Ri...Read More
Martin Rapaport outlined his view of the diamond industry Monday on the opening day of International Diamond Week in Israel. The Rapaport Group chairman presented data showing a decline in the diamond market during 2019, and examined how it had impacted business throughout the distribution chain - miners, manufacturers, dealers, retailers and consumers. He concluded with a number of guidelines on...Read More
Hot-rolled coil prices declined further in the United States, with some mills aggressively pursuing spot market deals in order to fill their order books and some steel consumer sectors showing worse-than-expected first-quarter performance, market participants said.Fastmarkets' steel hot-rolled coil index, fob mill US was calculated at $28.79 per hundredweight ($575.80 per short ton) on W...Read More
RAPAPORT... US imports of polished diamonds slid 16% to $19.46 billion last year, reaching their lowest level since 2010. Shipments fell by value and volume, while the average price also declined. December was a relatively weak month, with imports falling at a steeper rate than for the full year. US Trade Data for December 2019Read More
RAPAPORT... India's diamond industry has asked banks and the government for help with its credit difficulties, as the coronavirus crisis has left clients in China and Hong Kong unable to pay bills.The Gem and Jewellery Export Promotion Council (GJEPC) wrote to 30 lenders and the commerce and finance ministries Tuesday, requesting more time to pay back loans and finalize other costs connected...Read More
RAPAPORT... Chow Tai Fook will temporarily suspend operations at more than 40 locations in Hong Kong and Macau following a rise in the coronavirus epidemic.The shutdown is a protective measure in the interest of public health and safety, as the risk of the virus spreading increases, the Hong Kong-based retailer told Rapaport News Tuesday. The company will also shorten its operating hours at t...Read More
The price difference between scrap and rebar for Turkish mills in January this year was at its narrowest since January 2019, the International Rebar Producers & Exporters Association (Irepas) said on February 5.In fact, compared with January 2019, the spread had only ever been smaller in January 2017, according to Irepas' outlook statement.Turkish producers were also trying to widen the spread, wh...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa has generated a further A$8.2-million from the run-of-mine diamond sales from its Lulo and Mothae mines.The ASX-listed company told shareholders that a total of 1 548 ct of diamonds from the Lulo operation, in Angola, was sold for gross proceeds of A$5-million, representing an average price of A$3 251/ct.AdvertisementA further 6 306 ct of Motha...Read More
Alrosa has paused production at certain lower-value deposits as the diamond industry continues to face an inventory imbalance and external challenges, its CEO said.The Russian miner placed on care and maintenance select alluvial mines that contain diamonds priced at $50 to $60 per carat, Sergey Ivanov told members of the trade at the International Diamond Week in Israel on Monday. "In case the mar...Read More
BriteCo, an innovative appraisal and insurance technology company, announced that IDEX, the leading online diamond-trading platform for professional diamond traders, has become BriteCo's preferred source for diamond pricing. Free to qualified jewelers, BriteCo's appraisal software provides retail jewelers with intuitive, self-guided screens to enter key information, include ph...Read More
(IDEX Online) - Chow Tai Fook Jewellery has closed over 40 points of sale in Hong Kong and Macau because of the ongoing threat of the coronavirus. The company is also taking steps to reduce operating hours at its remaining stores, with shops closing at 7 p.m.According to the Nikkei Asian Review the retailer is not planning on laying off any staff. Instead, the company will "arrange for front-line...Read More
(IDEX Online) - The Responsible Jewelry Council (RJC) has announced it will unveil its latest retailer initiatives and resources at The Plumb Club pavilion during the 2020 JCK show. The not-for-profit organization will have a booth where it will meet with companies about RJC certification, integrating sustainability into their operations - and building trust and confidence with consumers.&nbs...Read More
Russian diamond miner Alrosa's rough and polished diamond sales increased by 44% year-on-year to $405-million in January.This included $390.2-million worth of rough diamonds sold to third parties and $14.8-million of polished diamond sales.Advertisement"January saw steady demand for rough diamonds as cutters continued restocking on the back of positive Christmas jewellery retail sales,&qu...Read More