(IDEX Online) - The largest vivid purple-pink diamond ever to appear at auction has sold for a record $26.6m.The ultra-rare 14.83-carat, internally flawless, oval-cut The Spirit of the Rose (pictured) went to an anonymous phone bidder yesterday at Sotheby's Geneva.It was cut from a 27.85-carat clear pink rough stone unearthed at Alrosa's Ebelyakh deposit in the Republic of Sakha (Yakutia...Read More

RAPAPORT... Alrosa's Spirit of the Rose has achieved the highest price for any purple-pink diamond, selling to an anonymous bidder for nearly $27 million at Sotheby's Geneva.The oval modified brilliant-cut, 14.83-carat, fancy-vivid-purple-pink, internally flawless, type II stone, named for the famous Russian ballet, sold for $26.6 million, beating its low estimate of $23 million. The diamond, whic...Read More

In the closing session of this year's International Ferroalloys, which was held virtually November 9-11, Fleur Ritzema, global minors, ores and alloys editor at Fastmarkets, and Fastmarkets' analysts Amy Bennett and Robert Cartman summed up the key market drivers for the rest of 2020 and beyond. Steel Financial stimulus from China could provide an enormous boost to its domestic consumption - espec...Read More

Domestic prices for hot-rolled coil in Northern Europe increased again day on day on Thursday November 12, supported by tight supplies, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?525.00 ($618.95) per tonne on Thursday, up by ?,?0.50 per tonne from ?,?524.50 per tonne on Wednesday.The index was also up by ?,?13.66...Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Nova said it would acquire the existing NSR on the copper-nickel-platinum group metals project for up to US$6 million in cash and shares.Nova also yesterday announced a "best efforts" C$10 million raising at $1.45 per share and said it was also looking to list in the US.Scoped for growth: Nevada Copper shi...Read More

Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipPantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsShares in the company soared 2,750% from a March low to a 12-month high at C62c per share before retreating to 20c, which capitalises it at $13 milli...Read More

Greenland-centerd commodity developer Bluejay Mining on November 10 announced a deal giving global mining group Rio Tinto the option to buy into its Enonkoski junior nickel project in Finland.Rio Tinto has the option to acquire up to 75% of the Enonkoski project before the end of this decade, with an investment of as much as $20 million.Stage one of the scheme would allow Rio Tinto to take on 51%...Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The month before South32 had wrapped up its over-the-top US$1.Read More

Key data from Fastmarkets' pricing session in Shanghai on Thursday November 12.Key drivers Increased supply from Aluminum Corp of China's (Chalco) Huasheng alumina refinery put additional downward pressure on prices in an already weak market. China's alumina market has been oversupplied since July, while...Read More

With China outperforming the rest of the world in its economic recovery from the Covid-19 pandemic, the country has an increasing need to secure strategic materials and commodities, market participants told Fastmarkets.The disruptions to international trade amid all the headwinds derived from the Covid-19 pandemic have identified the vulnerabilities in the global supply chain. The nationwide and...Read More

The London Metal Exchange three-month aluminium and copper prices increased from Wednesday's close on Thursday November 12 morning, with the rest of the complex subdued on market concerns of a slow economic year-end and expectations the United States will enter a new wave of Covid-19 cases.LME three-month copper gained 0.5% over the morning, reaching $6,920 per tonne, while aluminium made a small...Read More

German steelmaker Salzgitter is to supply heavy steel plate for the Saint-Brieuc wind-power project off the French coast, the company said on Thursday November 12.Two subsidiaries of Salzgitter - Ilsenburger Grobblech and Salzgitter Mannesmann Grobblech - will deliver 50,000 tonnes of thermomechanically rolled plates for the offshore wind farm being built by Spanish group Navantia.The plate will b...Read More

Flat steel re-roller and coated coil producer Al Ghurair Iron & Steel, based in Abu Dhabi in the United Arab Emirates, was now offering hot-dipped galvanized coil at $850 per tonne for orders to be produced in February, Fastmarkets heard on Thursday November 12.The price for the material, which is of 1mm thickness with 275g per square meter zinc coating, was $50 per tonne higher than the company's...Read More

Steel rebar prices remained stable in Egypt over the week to Thursday November 12 amid very weak demand, sources told Fastmarkets.Demand for rebar and billet has been slow in the country since the imposition of a construction ban on May 25, however, the rules of the ban were eased on September 29.Still, buying was weak...Read More

Turkish domestic and import prices for steel billet have gone up over the past week on increasing scrap costs, sources said on Thursday November 12.The suppliers in the Commonwealth of Independent States (CIS) raised their billet offers to Turkish customers by around $5 per tonne to $435-440 per tonne cfr, while bids from...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 16 points in pre-opening trade.Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EST. Consensus for the October Consumer Price Index was an increase of 0.1% versus a gain of 0.2%. Actual was unchanged. Excluding food and energy, consensus for the October Consumer Price Index was...Read More

Turkish domestic long steel prices have gone down over the past week in line with the strengthening of the country's lira, sources said on Thursday November 12.The value of the Turkish currency rebounded sharply at the beginning of the week on news of the resignation of Turkey's economy minister and the replacement of the central bank's governor.Berat Albayrak, who is a son-in-low of national pres...Read More

Seaborne iron ore prices were down slightly on Thursday November 12 amid diminishing demand for steel reinforcing bar (rebar), sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $123.74 per tonne, down $0.82 per tonne62% Fe low-alumina fines, cfr Qingdao: $123.74 per tonne, down $1.26 per tonne58% Fe fines high-grade premium, cfr Qingdao: $114.41 per tonne, down $1 pe...Read More

China cfr seaborne coking coal prices increased across the board on Thursday November 12, while fob prices remained flat because of the ban on coal from Australia and a lack of alternatives in the spot market. Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.40 per tonne, unchanged Premium hard coking coal, cfr Jingtang: $153.07 per tonne, up $4.12 per tonneHard coking coal, f...Read More

China's hot-rolled coil producers allocated limited volumes for export on Thursday November 12 despite falling prices in the domestic market.DomesticEastern China (Shanghai): 4,050-4,070 yuan ($612-615) per tonne, down 10 yuan per tonneSeveral sources in Shanghai said trading was moderate in the spot market on Thursday after sellers lowered their offers.One of them believes prices will weaken furt...Read More