RAPAPORT... Sarine Technologies has entered into a collaboration with diamond-industry consultancy Constell Group that will focus on improving efficiency for the lab-grown supply chain."The application of Sarine's advanced technological solutions to many of the currently manual processes will increase the realized value significantly, and we are fully committed to bringing this evolution to t...Read More
RAPAPORT... The diamond industry is emerging from the Covid-19 crisis, says Rapaport Senior Analyst Avi Krawitz, who has identified five trends shaping the market in 2021. Polished diamond prices rose 1.7% in the first quarter and the momentum continued through April and May, Krawitz noted in the quarterly Diamond Trends Webinar that broadcast on May 12 and 13. The increases were driven by the ret...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi...Read More
RAPAPORT... Lucapa Diamond Company has agreed to acquire the Merlin diamond project in Australia for AUD 8.5 million ($6.6 million), planning to fund the deal with private and public sales of its shares.The acquisition agreement with Merlin Operations complements Lucapa's existing portfolio, the miner said Monday. "This is a strategic acquisition which represents a value-accretive and lo...Read More
Domestic prices for European heavy steel plate increased again in the week to Wednesday May 26, supported by good demand, sources told Fastmarkets."Demand is definitely good but still missing the boost that would come from projects, especially in Italy," an Italian producer said.Market sources said that lead times from domestic suppliers have been getting longer. German mills have already started...Read More
(IDEX Online) - Australia is set to become a diamond-mining nation again, with the planned resurrection of the Merlin mine, in a remote part of Northern Territory.Lucapa, which also has interests in Angola and Lesotho, agreed to buy the deposit for $6.6m and hopes to have it operational within two years.Merlin produced Australia's largest ever rough diamond - 104-carat type IIa -...Read More
(IDEX Online) - Italian football legend Fabio Cannavaro is auctioning his extremely rare Patek Philippe watch - and donating the proceeds to help at-risk youth in his hometown of Naples.The pink gold timepiece, reference 5208R, is estimated to fetch $705,000 to $962,000 at the Hong Kong Watch Auction XII, to be held jointly by Phillips and Bacs & Russo.Only 10 such watches are produced annuall...Read More
Nickel and aluminium were the stand-out metals during the afternoon session on Wednesday May 26 on the London Metal Exchange, with slight rises for the rest of the base metals - except for zinc - after a start of the week that saw lower prices across the complex. Nickel's price was up 1.5% to $17,288 per tonne on Wednesday, its highest in the past week following a bout of weakness triggered on the...Read More
Ford Motor Company is accelerating investments and increasing planned total spending on electrification to more than $30 billion by 2025, chief executive officer Jim Farley said.This will be achieved while deriving efficiencies from Ford's electric vehicle (EV) architecture and modular technologies, Farley said at the company's capital markets day.Ford is anticipating that 40% of its global vehicl...Read More
The Kamoa Kakula copper mine in the Democratic Republic of Congo (DRC) is the latest greenfield copper project to come online, having started concentrate production on Tuesday May 25. Jointly owned by Zijin Mining and Ivanhoe Mines, the copper mine began concentrate production ahead of schedule when the first batch of copper ore containing 5-6% copper content was conveyed from the underground mine...Read More
Zinc and lead premiums were mostly stable across the globe on Tuesday May 25, despite tight supply in various regions with activity gaining steam, and a milder loss of the import arbitrage in China.Zinc premium holds in northern Europe; market tightness boosts levels in ItalyUnited States Midwest premiums stable amid conflicting near-term viewsPremiums steady in Shanghai despite lower arbitrage lo...Read More
Spot buying interest for copper in both China and the United States was limited over the week ended Tuesday May 25, with buyers wary of price fluctuations.Chinese buying interest remains lowChina's copper premiums were stable over the seven days after consecutive weeks of declines.Fastmarkets assessed the daily benchmark copper grade-A cathode premium, cif Shanghai, at $20-35 per tonne on Tuesday,...Read More
Domestic prices for cold-rolled coil continued to increase across Europe in the week to Wednesday May 26 due to the persistent shortage of material, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?1,250-1,300 ($1,530-1,592) per tonne on May 26, compared with ?,?1,250-1,270 per tonne a week earlier.The assessment was based on achiev...Read More
Domestic prices for hot-rolled coil in Europe have continued to rise, supported by tight domestic and overseas supply and strong demand, sources told Fastmarkets on Wednesday May 26.Although buyers had to accept higher prices to secure their required volumes, they have become more cautious about the sustainability of the upward trend in Europe due to falling prices in China.The drop in Chinese fla...Read More
European steel H-beam prices remained on an upward trend on Wednesday May 26, with producers still committed to continued increases, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?900-920 ($1,102-1,126) per tonne on Wednesday, up from ?,?880-900 per tonne a week earlier.Following several months with consistently well-fille...Read More
The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021, the company said on Wednesday May 26.With 19 million Reais ($3.6 million) in investments for a revamp, ArcelorMittal will resume activities with one of the two electric arc furnaces in the plant. The company first cut output at...Read More
Rebar prices in the south of Europe continued to rise in the week to Wednesday May 26 on support from good order books at mills and rising scrap prices, while buyers were struggling to keep pace with surging offers, Fastmarkets heard.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?730-750 ($906-918) per tonne on Wednesday, up from...Read More
Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe 205 workers remotely manage pits and cathode and concentrator plants at the Escondida and Spence copper mines, The union said Escondida's profits jumped 119% in 2020 to US$2.Read More
Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationTshisekedi made the announcement on Twitter, congratulating the company for "having reached this important milestone which indicates that the DRC is open for business and investment".Read More
Base metals prices on the LME and SHFE were mixed - albeit with a slight upward bias - this morning, Wednesday May 26. But the rebounds seem half-hearted, with some erring on the side of caution judging by the lower treasury yields and stronger gold price.* While the United States Federal Reserve generally seems to be remaining dovish, the vice chair, Richard Clarida, spoke of a “soft landing...Read More