Earlier this year, various gold stock indices (XAU, HUI, GDX) gained more than fifty percent in just three months. Most of the negativity associated with the sector was brushed aside and replaced by positive expectations for the future.Of course, the 90-day rush to this year’s highs did not occur in a vacuum. The price of gold rose by twenty percent over the same three-month period. Th...Read More
Technical analyst Clive Maund charts the longer term picture for silver.Like gold, silver has been in a corrective downtrend following its peak early in September, and it looks like it has further to run before its done, partly of course because we have a downside target for gold in the $1360–$1400 area before it turns up. On the 6-month month we can see how it has been stumbling lower withi...Read More
Turkey is calling for a level playing field when it comes to trading with the European Union and the United States, Turkish steelmakers said during a panel discussion at Fastmarkets' Middle East Iron and Steel conference in Dubai.Speaking on Tuesday December 10 in a panel discussion about the protectionism Turkish steel faces in its major steel export markets, panelists said they were on...Read More
Major Chinese steelmakers' daily crude steel output dropped in late November, according to data released by the China Iron & Steel Association (Cisa) on Tuesday December 10.Daily crude steel output November 21-30:...Read More
China's finished steel exports decreased on a year-on-year basis in November, according preliminary Chinese customs data released on Sunday December 8.November exports: 4.56 million tonnes...Read More
Here are five Fastmarkets MB stories you might have missed on Friday December 13 that are worth another look.The digitization of the iron ore market took another step forward this week with trader Cargill completing its first e-contract transaction for iron ore with a Chinese steelmaker, Ningbo Iron & Steel.Chinese copper smelter Jiangxi Copper and Zambian blister copper producer Chambishi (CCS) h...Read More
A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle (EV) sector are coming into play. Glencore will supply battery manufacturer SK Innovation with up to 30,000 tonnes of cobalt contained in hydroxide over six years, it said last week - a deal worth about $1 billion in today's market. And other deals also point...Read More
If you are a producer or consumer, or are active in the physical markets, then you had better be aware of a new set of regulations that will make it all the more important for you to choose the right logistics partner from next year.The International Maritime Organization (IMO) has ruled that from January 1, 2020, the marine sector will have to reduce sulfur emissions by more than 80% by switching...Read More
Most major aluminium producers agree that tackling the carbon intensity of the smelting process is one of the biggest challenges facing their industry. What they cannot agree on is how to deal with the situation, as a lively panel hosted by Fastmarkets during LME Week at the end of October showed. Aluminium smelting is an energy-intensive business and the market is starting to differentiate b...Read More
Here are five Fastmarkets MB stories you might have missed on Friday December 13 that are worth another look.The digitization of the iron ore market took another step forward this week with trader Cargill completing its first e-contract transaction for iron ore with a Chinese steelmaker, Ningbo Iron & Steel.Chinese copper smelter Jiangxi Copper and Zambian blister copper producer Chambishi (CCS) h...Read More
RAPAPORT... US retail sales rose in November as consumers sentiment was strong at the start of the holiday season, the National Retail Federation (NRF)said. Total purchases for November - excluding automobiles, gasoline andrestaurants - rose 0.1% compared to the previous month, according todata the NRF published Friday. Sales climbed 2.1% year on year for the month, particularly impressive gi...Read More
RAPAPORT... After six years of development, production is due to begin at Alrosa's Luaxe diamond deposit in Angola next year, the nation's government said. Output will come to around 1 million carats valued at $90 million in the first year, according to a Reuters report. The initial stages of production will be a "pilot project," Endiama strategic planning andmining operations administrator L...Read More
RAPAPORT... Belgium's diamond trade showed signs of stabilizing in November,with rough exports increasing year on year for the first time since April.While polished exports dropped 22%, the rate of decline slowed versus October, data from the Antwerp World Diamond Centre showed.Belgium Trade Data for November 2019 Read More
(IDEX Online) - The International Gemological Institute (IGI) has teamed up with S P Mandali's Principal L N Welingkar Institute of Management Development and Research (WeSchool) business school to launch a Jewelry Design and Business Management Program in Mumbai. Speaking at the launch of the three-month certification course, IGI managing director Tehmasp Printer said the course is an o...Read More
(IDEX Online) - Retail sales in November increased 0.1 percent seasonally adjusted over October and were up 2.1 percent unadjusted year-over-year. November's results build on October's increase of 0.2 percent month-over-month and a strong 4.1 percent year-over-year. The numbers exclude automobile dealers, gasoline stations and restaurants.As of November, the three-month moving average wa...Read More
RAPAPORT... Diamond manufacturers will consolidate in the coming years to avoid being further squeezed by miners and retailers, Bain & Company predicted in its annual report on the industry.The forecast stems from the midstream becoming anincreasingly weak part of the supply chain while retailers and rough producers haveimproved efficiency. This has resulted in manufacturers becoming "pri...Read More
Exore excels in Cote d'IvoireSPONSOREDexore resourcesArtemis all set thanks to unique approachSPONSOREDartemis resourcesDark Horse could be 2020 bolterSPONSOREDdark horse resourcesTulkubash, Kyzyltash to add 400,000ozpa to Chaarat profileSPONSOREDThe bank says in a lengthy commentary on the looming "material" impacts of prominent technologies on mining, and mining costs, historic deflationary...Read More
Exore excels in Cote d'IvoireSPONSOREDexore resourcesArtemis all set thanks to unique approachSPONSOREDartemis resourcesDark Horse could be 2020 bolterSPONSOREDdark horse resourcesTulkubash, Kyzyltash to add 400,000ozpa to Chaarat profileSPONSOREDTeck Resources anticipates its US$4.7 billion Quebrada Blanca Phase II (QB2) project in Tarapaca will experience both cost and time overruns due to t...Read More
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