Former Trafigura base metals trader Ben Thomson has joined Viant Commodities to look after the company's European business, Metal Bulletin has learned. Thomson joined the Singapore-headquartered trading company last month. He was the head of the base metals Singapore desk at Trafigura until January this year, having joined in 2013...Read More
In his final column for Metal Bulletin, Lord Copper looks over the events that have shaped the metals industry during his tenure and considers and what might be in store over the coming years.ValeteWell, it's been a good run since December 2009 but now has come the parting of the ways. This is the last time Lord Copper will grace the pages - or, rather, the pixels - of Metal Bulletin. Looking back...Read More
Steve explains the gold to silver ratio in the Weimar Republic, and he also shows a present day chart with a one to one ratio using this measure...by Steve St Angelo of SRSrocco ReportThere are two crucial factors why silver will increase more in value than gold during the next financial meltdown. These factors are not well known by many precious metals analysts because they focus on antiquated...Read More
The world's largest coking coal producer, BHP, is "cautiously optimistic" about India's economic potential, with the country on the brink of becoming the top importer of the steelmaking raw material. India's coal imports are expected to hit 69 million tonnes by 2020, when it will overtake China as the top importer of coking coal, according to the Australian government's latest Energy and Resources...Read More
In his final column for Metal Bulletin, Lord Copper looks over the events that have shaped the metals industry during his tenure and considers and what might be in store over the coming years.ValeteWell, it's been a good run since December 2009 but now has come the parting of the ways. This is the last time Lord Copper will grace the pages - or, rather, the pixels - of Metal Bulletin. Looking back...Read More
Base metals on the London Metal Exchange were mixed at the close of trading on Thursday July 5, pressured by macroeconomic uncertainty amid continued sell-offs in copper, zinc and tin prices.While zinc prices continue to be hampered by a flurry of short-covering, the metal's three-month price avoided another drop below the nearby support level of $2,700 per tonne at the afternoon close. In ad...Read More
Comex copper prices crashed to a one-year low on Thursday morning in the United States with market sentiment in the red metal affected by fears of an escalating trade war as well as thin trading. Copper for September settlement on the Comex division of the New York Mercantile Exchange tumbled 6.40 cents or 2.2% to $2.8530 per lb. Earlier, the contract touched $2.8370, the lowest since July 2017. T...Read More
SHANGHAI, Jul 5 (SMM) – Both nonferrous and ferrous metals fell across the board, except for rebar, on Thursday July 5 as the imminent US tariffs on Chinese imports weighed on market sentiment.SHFE zinc led the decreases with a slump over 4%. Copper tumbled close 3% and nickel dropped over 2%. Lead and tin lost close to 2% with aluminium fell close to 1%.Coke, iron ore and cok...Read More
SHANGHAI, Jul 5 (SMM) – Spot copper was mostly offered at a discount of 20 yuan/mt to a premium of 30 yuan/mt over the SHFE 1807 contract in Shanghai on Thursday July 5. This compared with a discount of 60-0 yuan/mt on Wednesday amid falling futures prices. Transactions cooled from Wednesday as the market grew cautious on declining copper prices. Offers from sellers fell as a...Read More
SHANGHAI, Jul 5 (SMM) – Copper: LME copper tumbled further after it broke support at $6,500/mt, touching a low of $6,344/mt as SHFE base metals dipped across the board amid intensified worries over a trade war. The SHFE 1808 contract also slumped all the way after opening, to a low at 49,180 yuan/mt before closing at 49,680 yuan/mt. We expect LME copper to trade at $6,360-6,420/mt, and...Read More
Former Trafigura base metals trader Ben Thomson has joined Viant Commodities to look after the company's European business, Metal Bulletin has learned. Thomson joined the Singapore-headquartered trading company last month. He was the head of the base metals Singapore desk at Trafigura until January this year, having joined in 2013...Read More
The Turkish deep-sea scrap import market remained silent on Thursday July 5, due to continuing weak demand in the country's finished steel markets, according to sources.After finishing bookings for July deliveries, Turkish steel producers have gone quiet as demand for finished steel in both the local and export markets has failed to bounce back after the country's presidential and general election...Read More
Leon Westgate has joined VTB Capital as head of metals strategy, Metal Bulletin has learned. Westgate, who was most recently a senior metals and bulk analyst and head of...Read More
Diamond market slows as US wholesalers take vacation. Positive sentimentcontinues after polished prices strengthen in second quarter. 1 ct. RAPI +0.8%in June. Manufacturers upholding discounts as they defend high rough prices. Depreciationof currencies in China and India reducing budgets of local dealers and causingshift in demand to lower qualities. Diamantaires aligning their inventory withretai...Read More
The board of directors of G?(C)camines has implemented a new corporate structure including a more decentralized organization and a drive to promote a new generation of younger managers. The Democratic of Congo's (DRC) state-run miner said the reorganization will not result in any job losses but may include the redeployment of some staff from one area to eventually work in another division of eithe...Read More
Sentiment weaker amid bankruptcy rumors. Localbuyers cautious due to firm polished prices and recent rupee depreciationagainst the dollar (-2.4% in June to $1 = INR 68.80). Fewer foreign buyers inMumbai, owing to US summer vacation. Good demand for 0.30 to 3 ct., G-J, VS-SI,RapSpec A3+ diamonds. Manufacturing steady after $575 million De Beers Junesight. RoundRead More
RAPAPORT... Petra Diamonds will offload its majority stake in theKimberley mine, claiming the deal will ensure a sustainable future for theproject and help the company focus on its core assets. Ekapa Mining has agreed to buy Petra's 76% interest in the SouthAfrica deposit for $22 million (ZAR 300 million), Petra said Thursday. Thecompanies are currently in a joint venture incorporating the Kimberl...Read More
RAPAPORT... As the glitterati gathered for a swank cocktail party on theAvenue des Champs-Elys?(C)es to mark Paris Fashion Week, Penelope Cruz (pictured, right) was busyposing for the cameras alongside Nadja Swarovski (left). The Spanish model and moviestar was attending the "Atelier Swarovski: Cocktail of the New PenelopeCruz Fine Jewelry Collection" event topromote her latest money-making v...Read More
Comex copper prices crashed to a one-year low on Thursday morning in the United States with market sentiment in the red metal affected by fears of an escalating trade war as well as thin trading. Copper for September settlement on the Comex division of the New York Mercantile Exchange tumbled 6.40 cents or 2.2% to $2.8530 per lb. Earlier, the contract touched $2.8370, the lowest since July 2017. T...Read More