The latest forecasts from Fastmarkets' team of analysts are ready to view.Judging by a recent webinar we conducted on Asian ferroalloys last week, many market participants believe the steel and steelmaking raw materials' world - outside of China - will record an 'L' shaped recovery, effectively failing to recover. With crude steel production outside of China falling close to a third in April and o...Read More

RAPAPORT... Two companies have expressed interest in acquiring Dominion Diamond Mines, according to an affidavit by its former CEO Brendan Bell.Those parties, who were not named in the June 12 legal filing, have signed non-disclosure agreements that entitle them to review confidential information on Dominion's financials. The process could result in either company making a bid for some or all of t...Read More

RAPAPORT... Surat authorities have extended the shutdown of the Indian city's diamond-manufacturing sector for another week after the number of coronavirus cases grew.While trading markets can reopen this Friday, cutting factories won't be able to restart until July 14, the Surat Municipal Corporation ordered Monday.The industry closed for seven days last week after polishing units increasing...Read More

RAPAPORT... US consumers still favor purchasing diamond jewelry in a brick-and-mortar shop, but want store owners to provide proper safety measures against the coronavirus, according to a De Beers survey."While consumers increasingly desire a diamond-acquisition journey that blends the digital and physical, when it comes to making purchases, they still prefer the personalization of the in-sto...Read More

RAPAPORT PRESS RELEASE, July 7, 2020, Las Vegas... The global diamond market was uncertain in June due to the resurgence of Covid-19 and geopolitical tensions. Polished prices firmed for select goods. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds rose 1.9% during the month, driven by investment demand for 1-carat to 1.10-carat, D, IF, RapSpec A3+ stones. Prices for lower colors and clar...Read More

RAPAPORT... Synthetic-diamond firm Lumex will set up shop in the Dubai Multi Commodities Centre (DMCC), as the trading hub looks to expand its lab-grown sector. "In line with its mandate to attract, facilitate and drive new trade flows through Dubai, DMCC is positioning the emirate as a hub for both the natural and laboratory-grown diamond trade," the DMCC said Monday.Last year, DMCC held its...Read More

(IDEX Online) - Diamond factories in Surat, India, will remain closed until 14 July at the earliest as the city battles a COVID-19 outbreak centered on its main cutting and polishing zone.There have been 850 confirmed cases of coronavirus among diamond workers and merchants, mostly in the Katargam area.It means world's key diamond manufacturing hub is at a complete standstill.The Surat Munici...Read More

The three-month price of lead on the London Metal Exchange was at the top of the list of gains at the close of trading on Tuesday July 7, with the price appreciating by 1.5% to push above nearby resistance levels, while a continued rise in LME copper futures took the red metal to a six-month high.Lead's outright price on the LME closed at $1,828.50 per tonne on Tuesday afternoon, climbing from an...Read More

(IDEX Online) - Tiffany & Co have won a $12m legal battle against fake websites claiming to sell their goods.The iconic New York-based jeweler said sites with names like "tiffanyandco.net" and "tiffanyand.cn" imitated its own website and misled consumers. Some redirected traffic from Google to their own site rather the genuine Tiffany website.Twelve defendants were fined $1m each by a federal...Read More

Fastmarkets proposes to discontinue five precious metals price assessments due to the limited liquidity of the markets in question and to focus on its core markets.The prices to be discontinued are as follows:Platinum min 99.9% Europe Free Market $ per troy oz in warehousePalladium min 99.9% Europe Free Market $ per troy oz in warehouseRhodium min 99.9% Europe Free Market $ per troy...Read More

The recent contango seen on aluminium cash-to-future spreads on the London Metal Exchange supported a limited uptrend in Europe during the week to Tuesday July 7, driving the Rotterdam duty-paid market higher, while premiums were unchanged in other parts of the world.Rotterdam uptrend capped by weaker demandMJP premiums steady as focus remains on quarterly negotiationsLimited spot liquidity keeps...Read More

Teck Resources has delayed the start of the Red Dog shipping season after equipment failure on one of its two barges forced the vessel out of service for about a month. The Vancouver, Canada-based company said that shipping from Red Dog will begin in around seven days with one barge operational and that repairs to the other barge will be completed in around four weeks."This will affect the timing...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resources"The aim is to create efficiencies for [producers], especially for multi-metal producers with one framework and level of scrutiny for all," Copper Mark executive director Michle Brulhart toldRead More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe move comes as Northern Dynasty Minerals also said the US Army Corps of Engineers had signalled the Final Environment Impact Statement for Pebble would be published on July 24.Yesterday's announcement prompted a share price jump which took the company's market value above C$1 billion.Artemis all set thanks to unique approachSPON...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company had reduced its copper sales outlook in April, furloughed staff and cut capex by almost a third as it responded to the COVID-19 pandemic.Its full-year copper sales outlook was reduced at the time from the 3.5 billion pounds estimated in January based on US$2.85/lb, to 3.1Blb at $2.30/lb.Artemis all set thanks to unique...Read More

Alumina exports from Brazil increased in June on an annual basis but at a reduced rate than in the previous months of this year, data from the country's economy ministry on Monday July 6 showed. Brazilian alumina exports totaled 679,914 tonnes in June, a 4.6% year-on-year increase from 650,229 tonnes. When compared with May figures, however, exports fell by 12.8% from 779,694 tonnes. The lower exp...Read More

A regulatory filing has shown that Dongying Fangyuan missed the payment of a bond that reached its maturity eight months ago.The biggest private copper smelter in China said on July 6 that it is still in the process of repaying the principal payment and the interest for its bond named '16 Fangyuan 01', which is numbered 136807, according to its filing to the Shanghai Stock Exchange (SSE). The bond...Read More

First Quantum Minerals is to resume production at its Cobre Panama copper project after Panama's government lifted its Covid-19 suspension of operations at the site. The Panama copper project is expected to reach full capacity by mid-August, the Toronto, Canada-listed company said. A phased increase in personnel is expected to take output to an annualized throughput rate of 85...Read More

Australia-based tin mining company Kasbah Resources has delisted from the Australian Securities Exchange (ASX), according to a company statement issued on Tuesday June 30.The delisting came after 13 years of activity on the exchange, with the company citing a large disparity between project valuation and market capitalization as a determining factor behind the decision."It is the board's view that...Read More

Prices for steel rebar and billet in the United Arab Emirates were stable this week due to only limited demand, sources told Fastmarkets on Tuesday July 7.Domestic rebarUAE local mills were offering rebar at 1,770-1,774 dirhams ($482-483) per tonne ex-works, unchanged since late June.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw UAE, was 1,770-1,773 dir...Read More