CIS export slab export prices fell in the week to Monday March 2, with deals being done at lower prices and the size of the discount varying depending on the final destination, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $405-420 per tonne on March 2, down by $5-10 per tonne week on week.A 50,000 cargo of Ukraine-origin slab was rep...Read More
Copper futures on the London Metal Exchange rose by more than 1% on Monday March 2 as part of a global rally across asset classes.LME 3-month copper was trading at $5,700 per tonne at the exchange's 5pm close, up by $65 per tonne from the close on the preceding Friday.Gains across the base-metals complex came as other asset classes made big gains after a broad collapse toward the end of last week....Read More
China's metals inventories could more than double in the first quarter of 2020, according to a JP Morgan research note published on Thursday February 27.The note also said that stockpiles of copper were expected to build up to about 2.5 times the average seasonal first-quarter volume seen over the past five years, because of sustained production and a lack of downstream demand."In metals, Chinese...Read More
The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.Local exporters that applied for the force majeure "legal shield" cover over 30 different sectors, according to a CCPIT announcement on its website on February 26. The legal provision is traditionally used...Read More
Cesco Santiago, one of the biggest annual events for the copper industry, has been canceled, organisers confirmed to Fastmarkets. "Both the World Copper Conference organized by CRU and Cesco Dinner will not take place this year," the organization said in a press release dated Monday March 2 after confirming by phone. The organization had been under pressure to at least delay the event because many...Read More
China's official manufacturing purchasing managers index (PMI) slumped to 35.7 in February from 50 previously, but despite this the base metals are up across the board this morning, Monday March 2, and Asian equity indices are for the most part firmer too. The buoyancy seems to stem from expectations that central banks will continue to pump liquidity into their economies to cushion the economic bl...Read More
Domestic prices for hot-rolled coil in Europe were fairly stable day on day on Monday March 2, buoyed by a continued lack of competitive import offers, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.55 ($534.22) per tonne on Monday March 2, down by ?,?0.35 per tonne day on day from ?,?484.90 per tonne on February 28.The index...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country's growth outlook at risk. The full scale and impact of the outbreak remain to be seen, but it is cer...Read More
(IDEX Online) - India's diamond exports are expected to drop by a fifth this year, say forecasters. Coronavirus combined with sluggish global demands, have badly hit the second biggest cutting and polishing country in the world. Total diamond exports in the first nine months of the fiscal year were down 18 per cent year-on-year, according to a report published today by Crisil Ratings, the Mum...Read More
Steel billet prices in some global markets rose in the week to Friday February 28, supported by firm demand, sources told Fastmarkets.But the spread of the novel coronavirus (2019-nCoV) across the world, including rising infection numbers in other parts of Asia, such as South Korea and Japan, dampened market sentiment, sources said.Scrap prices declined during the week, with Fastmarkets' dail...Read More
Russian miner Alrosa’s investment committee has approved financing for preliminary engineering studies at the Jubilee diamond mine, to provide up-to-date information to decide on the construction of an underground mine.The Jubilee pipe of the Aikhal division is currently being mined by openpit methods.AdvertisementIn 2019, the company considered technical specifications and decided to start...Read More
With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in February 2020.The case list below includes only updates. For other continuing cases this year, see the...Read More
Angola sold just over 9.44-million carats of diamonds last year, earning $1.299-billion, the National Diamond Commercialisation Company of Angola (Empresa Nacional de Comercialização de Angola) – better known as Sodiam – has reported. This represented a year-on-year increase of 12.3% in production and 6.2% in revenues. At the presentation of these figures, in Luanda, Ango...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable over the week ended Friday February 28, supported by a combination of the positive effects of long lead times from the region's mills and a lack of competitive import offers.In the second half of the week, Italians steelmakers made higher offers and achieved small price rises in transactions.Fastmarkets' daily steel hot-roll...Read More
The D? 1/4 sseldorf wire and tube fair has been postponed due to the spread of the novel coronavirus (2019-nCoV), the fair organizer, Messe D? 1/4 sseldorf, said on Saturday February 29.The international trade fair for wire, cable, tube and pipe industries was due to take place on March 30 to April 3. "We are following the recommendation of the crisis management team of the German government to ta...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesFinancing risks can be managedSPONSOREDHe said the drop was mainly driven by gold-focused exploration budget cuts and the lack of reinvigoration of exploration spend in the sector in th...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesFinancing risks can be managedSPONSOREDThe 2020-2030 plan aims to provide a roadmap for the development of the mining sector which will consolidate gains and guide future governments.Read More
The Turkish steel producers have extended their absence from the deep-sea scrap markets in expectation of lower prices, but suppliers were holding firm, sources said on Monday March 2.After buying several cargoes in the first three weeks of February, the mills stepped back from purchase activity at the beginning of last week.The most recent deep-sea transactions had put the price of HMS 1&2 (80:20...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesFinancing risks can be managedSPONSOREDThe focus for 2019 drilling was to infill the in-pit inferred resource in preparation for an update of the 2013 feasibility study, but that result...Read More
The auto bundle scrap price in the Turkish domestic market has increased on a weaker lira and tighter supply, while ship scrap prices were fairly stable, sources said on Monday March 2.The Turkish currency depreciated following an airstrike in Idlib, northwestern Syria, late last week.The lira was trading at 6.26 lira to $1 on March 2, compared with 6.11 lira to $1 on February 24, according to Oan...Read More