(IDEX Online) - The DELGATTO Diamond Finance Fund (DDFF) today (26 May 2020) launches the diamond industry's first ever online finance platform, on IDEX Online.Dealers who have inventory on the IDEX Online trading platform will be able to click on any individual stone or stones and receive an immediate financing estimate from DELGATTO Diamond Finance Fund.This offers the diamond and jewelry i...Read More
Triland Metals has canceled its annual party, which was set to take place during LME Week in London on Monday October 19."We are living through unprecedented times and a great deal of uncertainty. The coronavirus pandemic has meant it is essential to limit social contact and avoid large gatherings," Triland chief executive office Martin Pratt said on May 26."It is also clear that global travel wil...Read More
From future raw material investments to China's resurgence in lithium-iron-phosphate (LFP) battery chemistries, Fastmarkets analysts and reporters consider six key discussion points dominating the battery and electric vehicle markets. The below themes were raised from questions during Fastmarkets' webinar "Covid-19 and the battery raw materials supply chain" on May 19. To listen again to the webin...Read More
Domestic prices for hot-rolled coil in Northern Europe dropped further during the week to Friday May 22, due to low trading activity.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?407.50 ($443.92) per tonne on Friday, down by ?,?4.38 per tonne week on week and down by ?,?37.50 per tonne month on month.Friday's index was calculated based on deals and "workable...Read More
Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on Tuesday May 26, but output was unaffected, the company said.A group of company employees used trucks to block the entrance to the plant to protest Tata Steel's policy in the Netherlands."We can confirm a number of employees took unplanned action near the gates of our IJmuiden steelmaking site in the Netherla...Read More
CIS export slab prices have continued to climb in the second half of May, supported by Turkish customers accepting higher-priced deals.A 30,000-tonne cargo of Ukrainian slab was reported sold last week at $360 per tonne cfr Turkey, equivalent to around $350 per tonne fob Black Sea, sources told Fastmarkets.Turkish customers accepted higher slab offers following a surge in domestic and export...Read More
Domestic prices for hot-rolled coil in Northern Europe were unchanged day on day on Tuesday May 26 while trading activity remained low, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe held at ?,?407.50 ($447.03) per tonne on May 26, flat from Friday May 22.Tuesday's index was calculated based on deals and "workable" prices heard at ?,?400-410...Read More
Flat steel prices in Russia's Central Federal District around Moscow declined in the week to Tuesday May 26 amid slow demand and an oversupplied market, sources told Fastmarkets.Buying activity in the region remained limited over the past week and key suppliers to the region cut offers for June rolling and revised stockist prices down for May rolling, sources said."Mills have huge stocks they need...Read More
Crude steel production in Germany fell by 23.85% year on year in April due to production cuts made to reflect the drop in demand caused by the Covid-19 pandemic, the German steel federation said this week.Germany's crude steel production totaled 2.56 million tonnes in April 2020, down from 3.56 million tonnes in the corresponding period of 2019, WV Stahl said on Monday May 25.The last time ou...Read More
Oversupply in the steel rebar market in Russia's Central Federal District around Moscow is a cause for concern, sources told Fastmarkets on Tuesday May 26, although prices remained largely unchanged week on week. Construction, the key consumer, was still running slowly after a gradual restart in the wake of the Covid-19 lockdown restrictions, sources said"Yes, the construction activity has im...Read More
Broad markets were stronger this morning, Tuesday May 26, with many Asian-Pacific equity indices up by around 2%, while pre-market major western equities were up by around 1% but metals prices were mixed.Hopes that the reopening of economies will lead to an economic recovery are boosting equities but the United States-China trade dispute is worsening, which is not going to help the global economy...Read More
NEW TOOLS IN ITS LATEST MICROMINE UPGRADESPONSOREDmicromineCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThe updated study delivered a 43% increase in undiscounted pre-tax free cashflows to A$1.6 billion, or A$1.2 billion post-tax.Read More
Turkish deep-sea scrap import prices remained broadly stable on Tuesday May 26 after news of a fresh cargo came to light. The transaction which came to light on Monday was sold either on Sunday May 24 or Monday May 25, sources said. The market was relatively quiet at the beginning of the week due to a public holidays in many countries on...Read More
Steelmaker ArcelorMittal is to receive a ?,?75 million ($82 million) loan from the European Investment Bank (EIB) to be used on its projects intended to reduce carbon emissions.Two projects will operate at ArcelorMittal's Ghent location in Belgium. These are worth ?,?215 million in total and are hoped to eliminate as much as 350,000 tonnes per year of CO2 emissions in the first phase.The first pro...Read More
Seaborne premium hard coking coal prices dropped on Tuesday May 26, due to recent lower transaction values, while most market participants now expect prices to remain flat for some time.Fastmarkets indicesPremium hard coking coal, fob DBCT: $115.36 per tonne, down $2.91 per tonne Premium hard coking coal, cfr Jingtang: $124.37 per tonne, down $1.04 per tonneHard coking coal, fob DBCT:&nb...Read More
Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite there being no upward movement in their steel sales prices, sources in Japan have told Fastmarkets.On Tuesday May 26, key EAF mill Tokyo Steel raised its bid price for steel scrap by ?500 ($5) per tonne at all its steelworks except in Tahara, wh...Read More
The prices for seaborne iron ore went down on Tuesday May 26 with market sources saying that Brazilian miner Vale's weekly iron ore shipments increased, easing market concerns about supply.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $95.28 per tonne, down by $2.37 per tonne.62% Fe low-alumina fines, cfr Qingdao: $97.97 per tonne, down by $2.31 per tonne.58% Fe fines high-grade premium,...Read More
The seaborne iron ore concentrates and pellet market followed the uptrend in the iron ore fines market, but at a slower pace, in the week to Friday May 22, sources said.Iron ore concentrates, however, continued to be traded at discounts to the 65% Fe fines index because of a much stronger Brazilian high grade fines market, sources said. Fastmarkets' index for iron ore 66% Fe concentrate, cfr Qingd...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 55 points in pre-opening trade.Bank of Nova Scotia (BNS $51.99 Cdn) is expected to open higher after reporting higher than consensus fiscal second quarter earnings. Merck gained $2.33 to $78.70 after announcing a deal to develop coronavirus vaccines. Autozone added $41.06 to $1164.00 after reporting higher than consens...Read More
Three-month base metals prices on the London Metal Exchange were mostly up during morning trading on Tuesday May 26, with copper giving the best performance of the complex in terms of percentage gains.The three-month copper price was most recently trading at $5,369.50 per tonne, up by $81 per tonne (1.5%) from last Friday's 5pm close of $5,288.50 per tonne. The LME was closed on Monday due to the...Read More