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.Perhaps a false sense of security had crept in. Plentiful oil supply, carefully stewarded in 2019 by OPEC+ to get the market closer to balance, and moderate prices. Rising geopolitical tension,even around Iran, seemed a nebulous...Read More
Canadian company Lucara Diamond Corp, which operates the Karowe mine, in Botswana, has had stronger-than-expected finish to the year, with the final tender "reflecting a more stabilised market environment".Lucara generated sales proceeds of $52.9-million in the final tender held on December 12, achieving an average price of $548/ct. The sales proceeds exceeded expectations by 16%.Adverti...Read More
Indian domestic secondary billet prices rose by 1,400 rupees ($20) per tonne in the week ending December 20 on the rising cost of directly reduced iron (DRI), the main raw material used by Indian secondary billet makers.The price of steel billet domestic, ex-works India was assessed by Fastmarkets on December 20 increased by 1,400 rupees per tonne to 27,400-27,600 rupees per tonne compar...Read More
Diamond miner Alrosa, Chinese multinational Tencent and independent technology company Everledger have launched a new WeChat Mini Program e-commerce solution to Chinese retailers.This demonstrates the power of blockchain technology to seamless enable the purchase with full transparency of their origin, characteristics and ownership, a statement this week said.AdvertisementCreated by Alrosa and Eve...Read More
The Polish domestic rebar price picked up slightly over the week and producers are targeting further price rises, market sources told Fastmarkets on Friday December 20.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland narrowed on the top end of the range to 2,000-2,030 zloty ($522-530) per tonne on Friday, compared with 1,980-2,030...Read More
Indian steelmakers are likely to increase domestic HRC prices by at least 2,000 rupees ($28) per tonne in January, following on from an increase in export prices, sources told Fastmarkets on Friday December 20.But the mills will not be attempting further prices increase in the remaining days of December.Fastmarkets' weekly price assessment for steel HRC, domestic ex-works India,&nbs...Read More
The CIS export billet market was rather quiet in the week ended Friday December 20, reflecting the approaching holiday period.Offers from CIS mills remained around $420 per tonne fob Black Sea, with some mills starting to offer February casting material.Buying activity has slowed compared with previous weeks because customers in major markets have already purchased the necessary volumes to meet th...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resources"The land (held by state-controlled Gécamines) includes multiple blocks over the preferred location for construction of a new long-term tailings facility, and multiple other blocks that will enhance KCC's ability to more efficiently operate its mines, facilities and other key infrastructure requirements," Glencore-contr...Read More
Domestic prices for hot-rolled coil in Northern Europe have been largely stable day on day on Friday December 20, following a substantial increase over the week, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe was at ?,?439.39 ($488.79) per tonne on Friday December 20 compared with ?,?439.24 per tonne on Thursday.The calculation of the ind...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesSouth32 owns 11.7% of Trilogy and has contributed US$30 million over three years to exploration, and had until January 20 to decide if it wanted to expand its interest.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe copper is in the pre-filter press feed tank and will be sent to the concentrate press over the coming days, ending the company's 10-year dependence on its Prominent Hill copper-gold mine as its sole source of income. Artemis all set thanks to unique approachSPONSOREDartemis resourcesIt aims to produce 20,000-25,000 t...Read More
Turkish prices for hot-dipped galvanized coil (HDG), and color-coated coil or pre-painted galvanized iron (PPGI), were stable in the week to Friday December 20 amid moderate demand, sources told Fastmarkets.Domestic pricesDemand in Turkey's local market slowed this week ahead of the year-end because buyers had already placed their orders earlier in December, sources said.Most producers have filled...Read More
Global scrap prices trended upward in the week to Friday December 20 on higher offer prices and limited supplies.Turkish import prices steady on limited trades United States export prices up on recent Turkish sales Vietnam, Taiwan import prices rise on higher offers Indian import prices up on tight supplies Turkey Turkish imported ferrous scrap prices were largely stable this week,...Read More
The inter-merchant spot price for light iron scrap in the United Kingdom was steady in the week ended Friday December 20, consolidating gains of ?15 per tonne made over the month.A solid increase in European steel scrap export prices has been support to the British market.The UK market, both on an inter-merchants level and to steel mills, has been strengthening over the fourth quarter - exporters...Read More
U.S. equity index futures were slightly higher this morning. S&P 500 futures were up 2 points in pre-opening trade.Today is "Triple Witching Day": last trade day for December equity and index futures and options. Volumes are expected to be higher than average. Index futures were virtually unchanged following release of the next estimate of third quarter GDP at 8:30 AM EST. Consensus was growth...Read More
The price of ferrous scrap imported into India increased this week as traders hold on to their material in the hope of achieving higher sales in January, sources told Fastmarkets on Friday December 20.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $296.05 per tonne on Friday, up from $290.75 per tonne a week earlier.Deals were heard for shredded at $290 and $300 per tonne f...Read More
Turkish steel producers have continued to stay out of deep-sea scrap markets at the end of the week to focus on finished steel sales, sources said on Friday December 20.The mills have booked several cargoes in the previous weeks for January and February shipments and went quiet earlier this week in response to rising offers, Fastmarkets was told.Turkish producers booked two deep-sea cargoes at the...Read More
Seaborne iron ore prices fell across the board on Friday December 20 amid fresh emergency pollution curbs imposed in the steelmaking hub of Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.63 per tonne, down $2.14 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.72 per tonne, down $2.14 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.46 per tonne, down...Read More
What caused the overnight lending market to unexpectedly seize up in September? There's a good reason to believe JPMorgan Chase (JPMC) may have been at the heart of it.JPMorgan Chase is the largest bank in the U. S., and has about $1.49 trillion in deposits. It's one of the big banks that provide much of the loans in the overnight money markets.But it seems the mega-bank had gone on a stock buybac...Read More
The big news this week was that the House of Representatives impeached President Trump for abuse of power and obstruction of Congress.Trump now joins Andrew Johnson and Bill Clinton as the only U.S. presidents to be impeached (Nixon resigned before he could be impeached).Now it goes to the Senate for trial. But there's virtually no chance the Senate will convict Trump on the charges, given the Rep...Read More