RAPAPORT... Belgium's polished-diamond exports increased in January,according to data from the Antwerp World Diamond Centre (AWDC). Polished exports jumped 29% year on year to $813.4 millionand, by volume, rose 21% to 352.1 million carats. The average price grew 6% to$2,310 per carat.Polished exports to the US surged 48% to $275.4 million, while shipments to Hong Kong soared 95% to $144 million. T...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday February 27, with the dollar index surging to its highest since the start of the month. The three-month copper price closed 1.2% lower and only just held above $7,000 per tonne. Copper's healthy contango and a lack of market tightness are putting pressure on prices. "We think that copper prices are vulnerable...Read More
RAPAPORT... US polished-diamond trading slowed last year, according to government data. Polished imports dropped 6% to $21.62 billion and, by volume, slid 9% to9.8 million carats. The average price increased 4% to$2,205 per carat. Polished exports fell 4% to $18.02 billion, while netpolished imports - the excess of imports over exports -slipped 14% to $3.61 billion. Rough imports for the year were...Read More
Tungsten miner W Resources has agreed offtakes for tungsten concentrate produced at its La Parrilla mine in Spain. From early 2019, W Resources will supply 66% WO3 tungsten concentrate to Wolfram Bergbau und H? 1/4 tten and a "leading supplier to the USA tungsten markets," W Resources said. The offtake agreements will account for around 80% of output from the T2 production phase at La Parrilla, an...Read More
RAPAPORT... Revenue from the retail division of Warren Buffett's Berkshire Hathaway slipped0.2% to $15.06 billion last year, the company reported Saturday.The decline in the segment, which includes jewelry chains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, stemmed primarily from the automotive sector. Excluding the car business, retail sales - including at those jewelers - increased 1.7%....Read More
The import markets for flat steel products in South American countries were very muted this month because of the Chinese new year holiday, which took place February 15-21.The lack of trading has prevented import values from showing any major changes in the past few weeks, but prices are expected to rise in late February/early March with the arrival of fresh China-origin offers in the market.The la...Read More
Looking...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.Su...Read More
Turkish scrap import prices continued to climb on Tuesday February 27 with news of another Baltic Sea cargo sold at the end of last week.Market participants, however, expected prices to go up even further, while suppliers have already increased their offers, Metal Bulletin was told.A steel mill in the Izmir region booked the Baltic Sea cargo late on February 23, comprising 28,000 tonnes of HMS 1&2...Read More
Stocks, dollar trumped Section 232 last...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More
Aluminium Aluminium has been on the defensive after support from...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus do...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening comments. Investors are awaiting Federal Reserve Chairman Jerome Powell's testimony on monetary policy to be made at 10:00 AM EST.Index futures moved lower following release of economic news released at 8:30 AM EST. Chairman Powell's initial comments were released. In addition, the January Dura...Read More
SHANGHAI, Feb 27 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday February 27 with SHFE nickel leading the gain with 1% rise. SHFE lead was up close to 1% while tin and zinc inched up. Copper and aluminium were down slightly.The ferrous complex recovered some lost ground in the afternoon with iron ore closing 0.64% lower. Hot-rolled coil was up over 1% while coking coal, coke a...Read More
SHANGHAI, Feb 27 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday February 27 with SHFE nickel leading the gain with 1% rise. SHFE lead was up close to 1% while tin and zinc inched up. Copper and aluminium were down slightly.The ferrous complex recovered some lost ground in the afternoon with iron ore closing 0.64% lower. Hot-rolled coil was up over 1% while coking coal, coke a...Read More
SHANGHAI, Feb 27 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday February 27 with SHFE nickel leading the gain with 1% rise. SHFE lead was up close to 1% while tin and zinc inched up. Copper and aluminium were down slightly.The ferrous complex recovered some lost ground in the afternoon with iron ore closing 0.64% lower. Hot-rolled coil was up over 1% while coking coal, coke a...Read More
Copper hit by a slight bout...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it...Read More
The latest metal markets news and price moves to start the North American day on Tuesday February 27.Base metals prices on the London Metal Exchange were mostly firmer during morning trading, but no significant movements are taking place.The three-month aluminium price was $20 higher as it pushed back above $2,150 per tonne after further cancellations at LME-listed warehouses. 24,900 tonnes was ca...Read More
"This comment usually gets a hearty laugh, which merely goes to show how little most people have determined it actually to be a problem. But consider how many times has the following sequence of events occurred? For a full year, you trade futures contracts, making $1000 here, losing $1500 there, making $3000 here and losing $2000 there. Once again, you enter a trade because your (trading) method t...Read More
SHANGHAI, Feb 27 (SMM) - Copper: We see SHFE copper gaining support at 53,000 yuan/mt in the short term as recovery of downstream consumption is set to boost copper prices. We expect LME copper to trade at $7,080-7,150/mt and the SHFE 1804 contract to trade at 53,190-53,700 yuan/mt today.Aluminium: With pressure from short bets, we expect LME aluminium to continue to test the 60-day...Read More
SHANGHAI, Feb 27 (SMM) - Copper: We see SHFE copper gaining support at 53,000 yuan/mt in the short term as recovery of downstream consumption is set to boost copper prices. We expect LME copper to trade at $7,080-7,150/mt and the SHFE 1804 contract to trade at 53,190-53,700 yuan/mt today.Aluminium: With pressure from short bets, we expect LME aluminium to continue to test the 60-day...Read More
SHANGHAI, Feb 27 (SMM) - Copper: We see SHFE copper gaining support at 53,000 yuan/mt in the short term as recovery of downstream consumption is set to boost copper prices. We expect LME copper to trade at $7,080-7,150/mt and the SHFE 1804 contract to trade at 53,190-53,700 yuan/mt today.Aluminium: With pressure from short bets, we expect LME aluminium to continue to test the 60-day...Read More