Speculators continue to attack the COMEX for physical silver. Harvey explains...by Harvey Organ of Harvey Organ BlogSEPT 23//SILVER HAS A STELLAR DAY UP 80 CENTS TO $18.63///GOLD TAGS ALONG UP $16.25//HUGE PAPER ADDITION OF 10.55 TONNES OF GOLD ADDED TO THE GLD///NONE ADDED FOR SILVER;S SLV//THE REPO MESS IS NOW EXPLAINED FULLY IN OUR USA SECTION: A MUST READ...//TONIGHT WE SIT SHIVA FOR THOMAS CO...Read More
Traders, hedge funds & institutions all study and follow technical analysis, and right now, they are...by Steve St Angelo of SRSrocco ReportSince my last video update, the silver price has consolidated to a lower level. While I wasn't surprised to see silver continue to correct, I do believe its only temporary before it begins a new leg higher. And, if we look at the COT Report for silver, the...Read More
The three-month zinc price on the London Metal Exchange was lower at the close of trading on Tuesday September 24, dipping below the $2,300-per-tonne support level despite falling exchange stocks, while aluminium futures closed at their lowest level since September 3. Zinc futures closed at $2,282 per tonne this afternoon, also settling at their lowest level since September 3 against a broad weake...Read More
Bearish sentiment continues to grip the seaborne coking coal market, where prices fell to a three-year low this month.Premium hard coking coal, fob DBCT: $128.19 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $153.98 per tonne, down $1 per tonneHard coking coal, fob DBCT: $122.50 per tonne, unchangedHard coking coal, cfr Jingtang: $132.76 per tonne, unchangedLow-vol PCI, fob DBCT: $98...Read More
Ongoing steelmaking restrictions continued to support prices for hot-rolled coil in China on Tuesday September 24.DomesticEastern China (Shanghai): 3,660-3,670 yuan ($515-516) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,600 yuan per tonne, unchangedSpot prices remained largely at Monday's levels amid optimism due to the emergence of more details surrounding steelma...Read More
The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More
Miners launch cheaper offer prices for manganese ore in response to declining demand from China. Ore markets knocked by cheap offers, languishing demandSilico-manganese spot prices weaken in ChinaIndian silico-manganese prices drop amid poor demand, oversupplyEuropean alloy markets flatline in consumer absenceUS high carbon ferro-manganese price falters Seaborne manganese ore prices dived on Frida...Read More
Turkish deep-sea scrap prices have shown a slight uptick with news of a fresh European cargo trade, but the market direction was still unclear, sources said on Tuesday September 24.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) at $220 per tonne and 10,000 tonnes of shredded at $230 per tonne cfr.News of the cargo raised the daily scrap i...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday September 24 that are worth another look.The long-lasting downtrend in the international scrap market, which has pushed prices to three-year lows this month, has led to the point where steelmakers which use electric-arc furnaces (EAFs) have a significant advantage over those equipped with blast furnaces (BFs), which use iron ore...Read More
Five private copper smelters in China have halted production because processing at market terms has become unfeasible due to a combination of weakening demand for end products, a tight copper concentrates market and the higher costs of complying with pollution standards.The smelters involved are Top-Eastern Copper in Liaoning, Jinshui Copper and Kaitong Group in Yunnan, Laizhou Fangtai in Shandong...Read More
Fastmarkets published its monthly Shanghai, nickel premium, 99.80% purity briquette, on a duty free cif basis, two minutes later than scheduled on Tuesday September 24 due to an unforeseen market shift from a premium to a discount.The following price was published in Fastmarkets' price book later than scheduled:Shanghai, nickel premium, 99.80% purity briquette, duty free, cif, $ per tonne For more...Read More
Fastmarkets published its alumina index, fob Australia 23 minutes later than scheduled on Tuesday September 24 due to a technical issue during the pricing discovery process. The following price was published in Fastmarkets' price book later than scheduled: Alumina index, fob Australia, $/tonne For more information on or to provide feedback on the delayed publication of this index or if you wo...Read More
RAPAPORT...USpolished-diamond imports dropped 21% to $1.6 billion in July, according to thelatest data from the Commerce Department. This year's downwardtrend has continued, with polished imports falling 10% for the first seven months.The average price of shipments has also decreased during 2019. US Trade Data for July 2019Read More
Several large aluminium companies were now producing metal with low carbon emissions, but not all consumers were yet willing to pay a premium for the material, industry executives have said.But this was expected to change in the future, and will in part create incentives for other producers to decarbonize, they told a panel at the Fastmarkets International Aluminium Conference in Athens, Greece."S...Read More
RAPAPORT... Diamcor Mining's rough-diamond sales fell 22% year on yearto $569,059 in the second fiscal quarter amid production of smaller,lower-quality stones. The company sold 3,760 carats, including a 20.66-caratgem-quality rough, for an average price of $151 per carat during the periodending September 30, it said last week. Although the volume of sales from its Krone-Endora at Venetia proj...Read More
RAPAPORT... Blockchain technology company Everledger has closed a $20million Series A funding round, led by China-based internet giant TencentHoldings. Everledger, which supports blockchain technology for manycompanies in the diamond industry, will use the money to fund its growth. The company, whose clients include G? 1/4 belin Gem Lab, Chow Tai Fook and Hari Krishna Exports, alsoreceived in...Read More
RAPAPORT... The timing of the September Hong Kong Jewellery & GemFair was unfortunate, coming amid a wave of anti-government demonstrations inthe city. But for many participants, the political tensions were masking thebigger issue: Chinese demand has slowed, compounding the wider problemsin the diamond industry."The protests are an excuse [for not attending], but reallythe market is not good,"...Read More
(IDEX Online) - Sodiam chairman Dr. Eugenio Bravo da Rosa took part in the ribbon-cutting ceremony opening the World Federation of Diamond Bourses Presidents Meeting this morning.Sodiam is the state-owned Angolan National Diamond Trading Company, which controls the purchase, sale and import and export of diamonds in Angola.The participation of the Angolan delegation underscores the country's...Read More
The long-lasting downtrend in the international scrap market, which has pushed prices to three-year lows this month, has led to the point where steelmakers which use electric-arc furnaces (EAFs) have a significant advantage over those equipped with blast furnaces (BFs), which use iron ore as a feed.That was the conclusion made by the raw materials committee of the International Rebar Exporters & P...Read More
(IDEX Online) - The DMCC has opened the Dubai Design Academy (DDA) to increase the standard of jewelry design in the emirate. The Academy will equip students with innovative design development training and practical experience in the latest CAD designing and manufacturing technology.The DDA has formed an educational partnership with Gemvision USA to offer professional courses for various levels of...Read More