Stagnant tin prices could be set to climb after a bridge collapsed on a key route to Alphamin Resources' Bisie tin mine in the Democratic Republic of the Congo, Central Africa.The Mauritius-based mining company confirmed this week that the Maiko Bridge at Lubutu - on a key route to the Bisie tin mine in the Walikale territory of DRC - collapsed on October 30, some 53 kilometers sout...Read More
Seaborne coking coal prices displayed no clear trend on Monday November 11, though some market participants in China have reported an emergence of offers for November-loading cargoes despite it being close to the middle of the month.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.77 per tonne, up $1.53 per tonnePremium hard coking coal, cfr Jingtang: $145.02 per tonne, down $1.10 per t...Read More
Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11. The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and Briti...Read More
The export market for hot-rolled and cold-rolled coil from the Commonwealth of Independent States has improved on a bullish mood among suppliers, which preferred to step back from the market rather than to continue sales at low prices, sources told Fastmarkets on Monday November 11.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $375-385 per tonne on November 11, up fr...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 11 that are worth another look.Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on November 11.Chilean copper production grew by 1.2% year on year in September, a...Read More
Chilean copper production grew by 1.2% year-on-year in September, as higher output from state-owned Codelco offset a drop from Escondida and Collahuasi, the country's copper commission, Cochilco, said on Thursday November 7.Total production reached 483,800 tonnes of copper content during September, up from 478,200 tonnes a year earlier.Output during the January-September period came to 4.24 millio...Read More
Stagnant tin prices could be set to climb after a bridge collapsed on a key route to Alphamin Resources' Bisie tin mine in the Democratic Republic of the Congo, Central Africa.The Mauritius-based mining company confirmed this week that the Maiko Bridge at Lubutu - on a key route to the Bisie tin mine in the Walikale territory of DRC - collapsed on October 30, some 53 kilometers sout...Read More
Miner-smelter Nyrstar has begun the final stages of a planned restart to its Port Pirie lead smelter in Australia, with the first feed in its top submerged lance (TSL) furnace expected later this week, it said on Monday November 11. The smelter will be restarting 13 weeks after the company announced a "forced shutdown" on August 9 caused by an incident at the hearth in the primary smelter that req...Read More
The three-month nickel price on the London Metal Exchange recorded a sharp sell-off during morning trading on Monday November 11 on mounting fears that progress in a US-China trade deal could stall. Concerns that the trade talks are not progressing as smoothly as hoped, with US President Donald Trump saying late last week that he had not agreed to roll back tariffs on imports from China, has dampe...Read More
Concerns that China-United States trade talks are not progressing as smoothly as hoped, with US President Donald Trump saying late last week that he had not agreed to roll back tariffs on imports from China, has dampened sentiment in the metals.That said, US equities went on to brush off the news with markets closing at record highs again on Friday November 8. Gold prices break below support as US...Read More
With the exception of those for tin and zinc, base metals prices on the Shanghai Futures Exchange were mostly lower during the morning trading session on Monday November 11.The subdued performance by the base metals comes after United States President Donald Trump told reporters at the end of last week that China was pushing for the removal of some tariffs as part of an agreement, but he said a "c...Read More
Special bar quality (SBQ) steel prices in the United States moved sideways across cold-finished and hot-rolled grades this month despite higher ferrous scrap prices due to reports of discounting and overall weak demand.Fastmarkets' price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US stood at $34 per hundredweight ($680 per ton) on Frid...Read More
Steel plate prices in the United States dropped further during the week to Friday November 8, but the market might have found a bottom after more domestic mills joined efforts to raise pricing, some market participants said. Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill USwas at $30 per hundredweight ($600 per short ton) on Friday November 8, down by 1.6% from...Read More
RAPAPORT... The parent company of Bailey Banks & Biddle, whichclaims to be the US's oldest nationwide jeweler, has filed for Chapter 11bankruptcy in Texas, according to a court document. Houston-based BBB Group estimated both assets andliabilities of up to $50,000 in the November 6 voluntary petition. Joseph Trowbridge Bailey and Andrew Kitchen founded thecompany in 1832 as Bailey & Kitch...Read More
RAPAPORT... Rolex, Cartier and Tiffany & Co. captured the top threespots in the luxury category when it comes to the emotional connectioncustomers have with a brand, according to a study of "brand intimacy." The three jewelry brands ranked ahead of Chanel, Jaguar, Louis Vuitton andGucci, as well as the other fashion and automotive brands which rounded out the luxury segment's...Read More
RAPAPORT... Alrosa has implemented a digital-tender pilot enabling buyers to scan rough diamonds to evaluate their polished output using systems from SarineTechnologies. The program, which the Russian miner debuted at its October sale, uses Sarine's Galaxy inclusion mapping and DiaExpertplanning to study a rough stone's external shape, internal inclusions and anticipatedcolor and fluorescence...Read More
RAPAPORT... Israel's polished-diamond exports fell 21% to $2.62 billionin the first nine months of the year, according to data from the nation'sMinistry of Economy. Shipments to the US, Israel's largest export market,dropped 14% to $1.13 billion, while supply to Hong Kong slid 46% to $577million.Israel Trade Data for Jan-Sep 2019 Read More
(IDEX Online) - Underscoring the importance of the Far East market, 21 companies will exhibit in the Israel Diamond Pavilion at the upcoming Hong Kong International Jewelry Manufacturers' show (HKJMA).The pavilion will be located in Hall 1 of the Hong Kong Convention & Exhibition Centre and will feature the Diamonds Show database of Israeli exhibitors available in English and Chinese.&nbs...Read More
(IDEX Online) - The 11.11 Global Shopping Festival kicked off at midnight in China and generated $1 billion in the first minute and eight seconds. By the first hour, that number had shot up to $12 billion, reports Alibaby Group Holding Limited. The 11.11 shopping festival began in 2009 with participation from 27 merchants as an event for merchants and consumers to raise awareness about the va...Read More
The strength of December's ferrous scrap trade in the United States is in debate, with mills seeing potential for only a limited upside while sellers believe a repeat of November's increase may be necessary to reinvigorate scrap flows.One mill buyer said that he expects the market to increase by a modest $10 per gross ton in December because the last month of the year is not known for strong deman...Read More