Chinese domestic ferro-silicon prices stabilized last week, with production cuts and a sudden jump in ferro-silicon futures on the Zhengzhou Commodity Exchange supporting the free market. China garners production, futures support Europe awaits tenders results US ends six-week losing streak Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices uncha...Read More
RAPAPORT... A new fund for diamond companies is set to launch, aiming to provide an easier way for firms to obtain credit."The diamond industry is in a major state of flux, with all the major commercial banks exiting the space," Chris Del Gatto (pictured), creator of the Delgatto Diamond Fund, told Rapaport News. "There is an unprecedented shortage of working capital among dealers, wholesalers, an...Read More
SHANGHAI, Apr 16 (SMM) – China's imports of unwrought copper and copper products in March grew 22% month on month and stood at 439,000 mt, according to data from China Customs. Imports for March also inched up 2.1% year on year.In the first quarter of the year, China imported 1.23 million mt of unwrought copper and copper products, up 7.3% from the same period last year.SMM believed...Read More
The rebel group includes Francis Dubé, an optometrist and chairman of a cannabis producer, Eric Wallman and Brian Bosse.Read More
RAPAPORT... Manufacturing Jewelers & Suppliers of America (MJSA) hasappointed Joel McFadden director of its Council of Custom Jewelers. The New Jersey-based jeweler will be responsible forcultivating and developing group members' expertise into articles, educationalmaterials and promoted content. "Joel is a passionate member of the jewelry-makingcommunity, and as someone who has spe...Read More
BlackRock entered the register via a A$6 million institutional placement completed this week, managed by London's Tamesis Partners.Read More
SHANGHAI, Apr 16 (SMM) – In an emergency response to the heavily-polluted weather in the Beijing, Tianjin and Hebei area this week, Tangshan city has initiated measures to cut emissions from 20:00 on Sunday April 16, SMM learned.On top of current non-heating season cutbacks, a further cut of 50%in output was imposed on sintering machines. Coke ovens were required to prolong co...Read More
Cobalt has been drifting lower after hitting near 10-year peaks last month to exchange hands for $91,500 a tonne on the LME on Friday. Cobalt remains up more than 300% since hitting multi-year lows at the beginning of 2016 as demand for the metal, a crucial element in batteries used in cellphones and electric vehicles, spikes.While some of the froth has gone out of the spot market, the jostling am...Read More
SHANGHAI, Apr 16 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendDespite airstrikes in Syria by the US, UK and France, the US dollar index edged up slightly and closed at 89.78 on Friday April 13 as trade tension eased and the Federal Reserve Board’s March meeting took a aggressive stance.Most base metals rose but saw...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade.Index futures were virtually unchanged following release of economic news released at 8:30 AM EDT. Consensus for March Retail Sales was an increase of 0.4% versus a decline of 0.1% in February. Actual was an increase of 0.6%. Excluding auto sales, consensus for March Retail Sales was an i...Read More
SHANGHAI, Apr 16 (SMM) – Nonferrous metals futures rose across the board on Monday April 16, as SHFE nickel led the gains with a rise of nearly 1.7%. Aluminium and zinc rose close to 1%, tin gained over 0.7% while lead and copper inched up.Most ferrous metals closed lower except for coke. Iron ore dipped nearly 2.6%, coking coal dropped close to 2.5%, rebar fell almost 2%, and hot-rolle...Read More
The following is a summary of our recent FS Insider podcast, "Retail Apocalypse Picking Up Steam, Says Bloomberg's Matt Townsend," which can be accessed on our site here on iTunes here. Last year we saw more than 7,000 stores close their doors, more than twice the amount of stores that opened in the same time period. Question is, with consumer confidence at record levels and the US economy showing...Read More
SHANGHAI, Apr 16 (SMM) – Nonferrous metals futures rose across the board on Monday April 16, as SHFE nickel led the gains with a rise of nearly 1.7%. Aluminium and zinc rose close to 1%, tin gained over 0.7% while lead and copper inched up.Most ferrous metals closed lower except for coke. Iron ore dipped nearly 2.6%, coking coal dropped close to 2.5%, rebar fell almost 2%, and hot-rolle...Read More
SHANGHAI, Apr 16 (SMM) – Nonferrous metals futures rose across the board on Monday April 16, as SHFE nickel led the gains with a rise of nearly 1.7%. Aluminium and zinc rose close to 1%, tin gained over 0.7% while lead and copper inched up.Most ferrous metals closed lower except for coke. Iron ore dipped nearly 2.6%, coking coal dropped close to 2.5%, rebar fell almost 2%, and hot-rolle...Read More
SHANGHAI, Apr 16 (SMM) – Operating rates at Chinese copper rod producers jumped to 79.4% in March, up 10.05 percentage points year on year and 31.73 percentage points on the month, as orders improved from the electric wire and cable industry, according to an SMM survey.In April, operating rates are expected to further increase to 80.9% as producers reported brisk orders during the high seaso...Read More
SHANGHAI, Apr 16 (SMM) – China's imports of unwrought copper and copper products in March grew 22% month on month and stood at 439,000 mt, according to data from China Customs. Imports for March also inched up 2.1% year on year.In the first quarter of the year, China imported 1.23 million mt of unwrought copper and copper products, up 7.3% from the same period last year.SMM believed...Read More
SHANGHAI, Apr 16 (SMM) – In an emergency response to the heavily-polluted weather in the Beijing, Tianjin and Hebei area this week, Tangshan city has initiated measures to cut emissions from 20:00 on Sunday April 16, SMM learned.On top of current non-heating season cutbacks, a further cut of 50%in output was imposed on sintering machines. Coke ovens were required to prolong co...Read More
SHANGHAI, Apr 16 (SMM) – In an emergency response to the heavily-polluted weather in the Beijing, Tianjin and Hebei area this week, Tangshan city has initiated measures to cut emissions from 20:00 on Sunday April 16, SMM learned.On top of current non-heating season cutbacks, a further cut of 50%in output was imposed on sintering machines. Coke ovens were required to prolong co...Read More
SHANGHAI, Apr 16 (SMM) –Copper: LME copper rose and hit the five-day moving average but faced pressure at the 10-day moving average, as KDJ indicator extended downwards last Friday night. The SHFE 1806 contract mostly traded below all moving averages, and touched the joint of five- 10-, and 20- day moving averages with apparent pressure. The copper market was generally sluggish given un...Read More