Most steel scrap prices in Mexico fell during the week ended Friday July 10 amid slow demand, with the market affected by pessimism stemming from the monthly settlement in the United States.At least one scrap buyer has applied price cuts totaling 500 pesos ($22) per tonne since the end of June, while others have reduced prices by 300 pesos per tonne.Of the 10 grades of ferrous scrap tracked b...Read More

London Metal Exchange three-month base metals prices all closed down on Tuesday July 14 after a sell-off across US equities and weaker than expected Chinese data put a block on any upward price momentum. China trade balance data released earlier today was 329 billion for June against a forecast of 410 billion for the period and down from 443 billion in May.And US-China sentiment has become ev...Read More

RAPAPORT... Israeli finance company Peninsula has agreed to buy Union Bank's diamond business, pledging to continue offering loans amid a shortage of credit in the domestic industry.Peninsula will pay between 55% and 70% of the loan portfolio's value and will take over Union Bank's premises inside the Israel Diamond Exchange (IDE) in Ramat Gan. The final price will depend on the loans' total...Read More

RAPAPORT... A Colombian emerald and diamond ring was the top seller at Phillips in Hong Kong, leading the $6.1 million auction.The piece, which features a step-cut, 21.52-carat emerald flanked by two half-moon diamonds, fetched $1.2 million against a presale estimate of $960,000 to $1.2 million at last week's Hong Kong Jewels and Jadeite sale. The total achieved is a 54% increase over the sam...Read More

RAPAPORT... Mountain Province has obtained a waiver for its revolving-loan agreement as it struggles with challenges in the diamond market amid the coronavirus pandemic.The Bank of Nova Scotia and Nedbank, which hold the loan, have agreed to exempt the Canadian miner from complying with the terms of the credit agreement, including maintaining a minimum cash balance, Mountain Province said Tue...Read More

RAPAPORT... Alrosa's supervisory board has reelected Russian Finance Minister Anton Siluanov as its chairman. He has held the position since 2015.Members of the board also reelected Aysen Nikolaev, head of the Republic of Yakutia, as first deputy chairman, and Alrosa CEO Sergey Ivanov as deputy chairman, Alrosa reported Monday. The election took place on Friday as an absentee vote amid corona...Read More

(IDEX Online) - Southstone Minerals reports further discoveries of very large and high-quality diamonds at its alluvial Oena mine, in South Africa.Output for Q3 (March to May) was severely impacted by coronavirus and an enforced five-week shutdown, down almost two thirds on the previous quarter.But the Canada-based junior miner said it had recovered 23 stones over 10 carats from the 8,800-hectare...Read More

(IDEX Online) - India is allowing companies more time to have diamonds graded and certified abroad without having to pay duty, in response to coronavirus.Polished diamonds are routinely sent to labs overseas, but have been subjected to delays because of the COVID-19 pandemic.  They are normally subject to duty if they are out of the country for over three months.India's Central Board of...Read More

(IDEX Online) - Migrant diamond workers are deserting Surat, India's cutting and polishing capital as COVID-19 cases spike and factories remain closed.They're returning in their thousands to villages elsewhere in Gujurat, with local media estimating that only 20 per cent of the diamond workforce remains in the city.Surat's once-thriving diamond industry was locked down on 1 July aft...Read More

Aluminium producer Vedanta is seeking an agent to market the company's aluminium products in Europe for 2021, sources close to the matter told Fastmarkets. Multiple sources confirmed to Fastmarkets a tender had been issued by Vedanta this week for the marketing rights for their products in Europe; it is understood the majority of this will be aluminium value-added products (VAP), such as billet an...Read More

Execution works at the copper-gold Serrote project, operated by Minera????o Vale Verde (MVV), have reached 60% completion and is planned to start production in the second half of 2021, MVV's parent company Appian Capital Advisory said on Tuesday July 14. The project is located in the Brazilian northeastern state of Alagoas, and has an expected production capacity of 20,000 tonnes per year of coppe...Read More

Robust demand for aluminium in China has supported the Shanghai Futures Exchange aluminium price into July and analysts expect it to maintain strength at least until the end of August. The SHFE front month aluminium contract soared to a three-and-a-half-year high of 15,185 yuan ($2,169) per tonne on Monday July 13, up 370 yuan per tonne from Friday's close at 14,815 yuan per tonne. The price...Read More

ArcelorMittal Dunkirk plans to restart production from a blast furnace (BF) that was idled in late March, when steel demand dropped due to the economic effects of the lockdown measures intended to control the spread of Covid-19.The steelmaker plans to restart operations at the Dunkirk BF in France in the middle of August this year, the company's spokesperson told Fastmarkets on Tuesday July 14.It...Read More

Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, pa...Read More

Domestic prices for hot-rolled coil in Northern Europe were largely stable day on day on Tuesday July 14, but steelmakers continue to push for price rises, sources told Fastmarkets. Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?403.00 ($456.87) per tonne on Tuesday July 14, down by just ?,?0.13 per tonne from ?,?403.13 per tonne on Monday. Tuesd...Read More

New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe revised resource, prepared by USA-based Independent Mining Consultants, is the first new estimate since 2010 and incorporates results from 2019 and earlier (2010 to 2012) drilling in an updatedRead More

Fastmarkets proposes to amend the specifications of its hot-dipped galvanized steel import price on a cfr South America basis to narrow the range of products included and better reflect the base-grade material traded in the region.Following discussions with market participants, Fastmarkets is proposing to narrow the thickness specification of its steel hot-dipped galvanized coil import, cfr main p...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe anomaly was discovered by a high resolution, drone-mounted, magnetic survey following an updated geological interpretation for Marimaca, which indicated strong potential for sulphideRead More

Look beyond market approach to project valuations: van ZylLeadershipCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Asiamet Resources: Copper's Best Kept SecretSPONSOREDasiamet resourcesThe company said Scotiabank, on behalf of a syndicate of underwriters, had agreed to buy 643.7 milli...Read More