By Rory HallCryptocurrencies are not anonymous and they are not decentralized, period. This is to say nothing of the dangers they pose as being "pirate money" that can create real world problems for a persons life. If you don't believe me simply ask Randall Lord, Ross Ulbricht or anyone that has had their "wallet" hacked or stolen on any number of exchanges where cryptocurrencies are bought and...Read More
Steel billet import prices in Egypt fell slightly but domestic rebar prices remained unchanged in the week ended Thursday February 1.Billet import prices fell amid lower offer prices and news of a deal being agreed for material from Iran."Demand is not very strong and prices are going down," a trader told Metal Bulletin on Thursday."People will wait...Read More
Gold consumption in China grew 9.41% in 2017, according to information Continue...Read More
China's domestic rebar prices picked up some upward momentum on Thursday February 1 amid gains in the billet and futures markets. Domestic Eastern China (Shanghai): 3,830-3,890 yuan ($608-618) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,900-3,950 yuan per tonne, widened upward by 10 yuan per tonneGains in the futures market in the first couple of hours of trading and an increase in...Read More
Ferro-alloys producer Ferroglobe has successfully completed the acquisition of a 100% interest in Glencore's manganese alloys plants in Mo i Rana (Norway) and Dunkirk (France) from a wholly-owned subsidiary of Glencore International, it said on Thursday February 1. Ferroglobe has received the necessary regulatory approvals in France, Germany and Poland for the purchases, the company added. The new...Read More
Slowing spot demand caught up with the molybdic oxide and ferro-molybdenum markets this week, with prices dropping after suppliers cut their offer prices to book profits following a strong rally in recent weeks, sources told Metal Bulletin. Metal Bulletin assessed molybdic oxide prices at $11.80-12.00 per lb in-warehouse Rotterdam on Wednesday January 31, down 20 cents from Friday. The market...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in January 2018.The case list below includes only updates.(1) BRAZIL HRC(2)...Read More
Demand and prices for Indian finished steel products are likely to be boosted over the coming year after the country's government announced stronger spending on infrastructure in its new budget, Metal Bulletin heard on Thursday February 1.India's budget allocation for infrastructure spending in its 2018-19 financial year, which begins in April, will rise to 5.97 trillion rupees ($93.65 billion), c...Read More
Swedish steel trading company BE Group forecast solid demand and largely stable steel prices in the first quarter of 2018 following its good performance in October-December 2017, in a report published on Thursday February 1."Demand during the upcoming quarter is expected to remain strong in the company's main markets. At the same time, steel prices are expected to remain at the same level as in th...Read More
The Brazilian long steel market was largely stable in January, but prices are now expected rise and a government decision on whether to allow ArcelorMittal Brasil to take control of Votorantim Siderurgia's long steel assets is imminent.That transaction is currently under review by the tribunal of Brazil's competition regulator, Cade, which is composed of six commissioners and a chairman, ArcelorMi...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in January 2018.The case list below includes only updates.(1) BRAZIL HRC(2)...Read More
Summary of Glencore's production results for the fourth quarter and full year 2017.(Own-sourced output volume, year-on-year % change) Copper Q4: 363,200 tonnes, 0% 2017: 1,309,700 tonnes, -8% Zinc Q4: 262,800 tonnes, -14% 2017: 1,090,200 tonnes, 0% Lead...Read More
Treatment and refining charges (TC/RCs) for spot market copper concentrates dropped significantly during the second half of January, with smelters coming to the market for tonnages below benchmark rates and mine sales going at aggressive numbers.Metal Bulletin's copper concentrate TC/RC index dropped by $9.4 per tonne/0.94 cents per lb. Of that drop, $3.2/0.32 cents was due to the addition of a co...Read More
The falling scrap market pushed prices for CIS-origin pig iron down during the week ended Thursday February 1, Metal Bulletin has heard."The market has weakened, and producers can no longer keep pig iron prices high while the scrap market is crashing," a trader told Metal Bulletin.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region fell to $350-375 per tonne fo...Read More
Steady demand and firm prices.Chinese orders slow down as focus turns to consumers for Chinese New Year (Feb.16). Rising expectations for Year of the Dog, after China's gold, silver andjewelry sales +6% to $47.2B in 2017. Strong rough market during $665M De Beerssight, with dealers selling boxes at estimated 6% average premium. De Beers sellingthird-party rough on auction platform. Alrosa 2017 sal...Read More
(IDEX Online) - ALROSA recovered two gem-quality stones, weighing 97.92 carats and 85.62 carats, from the Yubileynaya pipe at Aikhal Mining and Processing Division last month. The 97.92 carat rough diamond (pictured above), is a transparent octahedron yellow-hue crystal with small sulfide and olivine inclusions near the surface. It measures 26 х 17 х 21 mm. The second r...Read More
Angola’s Sociedade Mineira de Catoca (Catoca Mining Company) is expecting to produce seven-million carats of diamonds this year. This was stated by company GM Sergei Amelin, the Macauhub news agency reported. He was speaking in the city of Saurimo, which is the capital of Lunda Sul province, where the Catoca diamond mine is located. Catoca is Angola’s biggest diamond mine, accounting f...Read More
Lead prices on the London Metal Exchange were 1.7% higher at the close on Thursday February 1, with the metal continuing its fine performance since the turn of 2018. The three-month lead price hit a high of $2,668 per tonne earlier today, the highest since July 29, 2011, and closed just $3 shy of this high level. "The fundamental outlook for lead is strong with low exchange stocks while consumptio...Read More
(IDEX Online) - The membership of the World Jewelry & Diamond Hub, Panama, Latin America's first and only diamond exchange, has elected Edi Faltz as its new President. He replaces Mahesh Khemlani, who had served in the position since September 2015. The vote took place on January 10, following an earlier decision by the diamond exchange's management which appointed an...Read More
Finished long steel prices in Europe are expected to remain largely stable in February after rising steadily through January, market participants told Metal Bulletin this week.Domestic offer prices from European steel mills are still supported by high production costs and strong demand from end-users.Market participants expect domestic rebar prices in Northern Europe to remain strong in February,...Read More