RAPAPORT... Sotheby's has appointed Wenhao Yu as deputy chairman ofjewelry for Asia, to help strengthen its expertise and sourcing capabilitiesand expand its business in the region. Yu was previously at Poly Auction Hong Kong, where he founded and headed its jewels and prestige collection department.Prior to that role, he cofounded the jewels and watches department at PolyAuction Beijing. "O...Read More
South Africa’s biggest platinum and gold mining companies are scaling back some operations as record power cuts, now in their sixth day, start to cripple key parts of the economy.Eskom Holdings on Monday moved to Stage 6 load-shedding from 18:00 local time, meaning it cut 6 000 MW from the national grid, the most yet, after a technical problem at the new Medupi Power Station. The utility has...Read More
RAPAPORT... J.C. Penney has appointed Karl Walsh as chief digitalofficer, charging him with overseeing improvements to its e-commerce platforms and customer experience. Walsh waspreviously chief digital officer at Danish jeweler Pandora, a role he took onin March. He also worked at Boston Consulting Group and McKinsey & Company. He began at J.C. Penney on December 2, reporting to executiv...Read More
Petra Diamonds said on Monday it was in the process halting operations at its Cullinan, Finsch and Koffiefontein mines in South Africa after State utility Eskom asked the miner to reduce its electricity load.Production, hoisting and processing have stopped with immediate effect and Petra Diamonds is now removing all people from underground, except those required for essential services, it said in...Read More
Mexican scrap prices have logged further gains, with optimism growing due to steady demand and a positive ferrous scrap settlement for December in the United States.Prices for most grades of scrap in the region of Monterrey city in northern Mexico rose by 175-225 pesos ($9-12) compared with the previous week, except for machine shop turnings.Fastmarkets' weekly assessment for steel scrap No1 bushe...Read More
Turkish steel producers continued to buy deep-sea scrap on Tuesday December 10, pushing up prices ahead of the winter holiday period in the United States and Europe, sources told Fastmarkets.A steel producer in the Northern Turkey booked a cargo from the US on Tuesday, comprising 33,000 tonnes of HMS 1&2 (80:20) at $295 per tonne, 5,000 tonnes of shredded at $300 per tonne and 2,000 tonn...Read More
Iron ore seaborne prices eased a little on Tuesday December 10, but some market participants remained optimistic that steel mills' restocking will likely lend some support.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.57 per tonne, down $0.36 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.66 per tonne, down $0.36 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.48 per tonn...Read More
Seaborne coking coal prices edged up on Tuesday December 10 amid a strengthening market for the steelmaking raw material as well as that for coke in China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.25 per tonne, up $0.04 per tonnePremium hard coking coal, cfr Jingtang: $150.34 per tonne, up $1.34 per tonneHard coking coal, fob DBCT: $122.33 per tonne, up $1 per tonneHard coking co...Read More
Higher offers for Indian hot-rolled coil in the international market have raised the likelihood of transactions involving the flat product from China despite further price gains in the East Asian country's domestic market.DomesticEastern China (Shanghai): 3,820-3,830 yuan ($543-544) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,660 yuan per tonne, down 10 yuan per tonneSpot prices in...Read More
Sentiment...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published....Read More
Increase in Chinese imports in Nov...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soo...Read More
The three-month nickel price on the London Metal Exchange fell during morning trading on Tuesday December 10, softening by more than 3% against a fresh inflow of 14,742 tonnes across LME-registered warehouses in Asia and Europe. Nickel's outright price on the LME was recently seen at $12,930 per tonne, a decline of more than $400 per tonne from Monday's closing price of $13,340 per tonne. Tur...Read More
China's domestic rebar prices moved up further on Tuesday December 10 on early gains in the futures market, though sentiment among participants remained bearish. Eastern China (Shanghai): 3,910-3,940 yuan ($555-560) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,650-3,690 yuan per tonne, up 10 yuan per tonneSellers kept raising their prices after rebar futures climbed steadily in the m...Read More
Aluminium LME three-month aluminium ran into a short-covering...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus...Read More
Base metal markets have become more mixed this week with copper and tin running higher, zinc, lead and nickel consolidating just above low ground and aluminium oscillating sideways.Broader markets that have been seeing more risk-on are now consolidating while they wait for some key political decisions on the United Kingdom's general election, and its ramifications for Brexit, and on the United Sta...Read More
Copper breaks above $6,000 per tonne......ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More
Low prices see scrap availability...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon...Read More
With the exception of those for zinc and lead that were marginally down, base metals prices on the Shanghai Futures Exchange were stronger during the morning trading session on Tuesday December 10.The broadly positive performance comes after another round of better-than-expected data releases on Monday continued to point to a stabilization in the global economy, which in turn boosted risk sentimen...Read More
Vale exiting VNC again? Vale’s investor day in...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the la...Read More
Prices playing catch-up LME...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it...Read More