(IDEX Online) - Alrosa has halted almost all its diamond cutting operations, saying there is currently no market because of COVID-19.CEO Sergey Ivanov said around 1,000 workers had been put on paid, enforced downtime.The Russian state-owned miner has a factory in Moscow that cuts larger stones and one in Barnaul, Siberia, for two-six grainers. They jointly sold over $95m of polished goods in 2018....Read More
JOHANNESBURG (miningweekly.com) – A full bench has heard the application for a judicial review of certain aspects of the Mining Charter gazetted in September 2018.Judge President Mlambo, judges Vally and Van Der Schyff reserved judgment on the application lodged by the Minerals Council South Africa on March 27, 2019, when the 180-day time limit came into effect for reviews under the Promotio...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The global crude landscape is being upended by surging US crude oil production flowing into international markets.The North America Crude Markets Service provides context and crude oil analysis of the entire US crude value chain - fro...Read More
RAPAPORT... Signet Jewelers has reopened more than 130 US stores and is planning to unlock up to 50 more doors in time for Mother's Day as some states are allowing retailers to do business again. The company, which owns Kay Jewelers, Jared and Zales, has implemented initiatives to help it continue selling during the coronavirus pandemic, Bill Luth, Signet's executive vice president of global...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country's growth outlook at risk. The full scale and impact of the outbreak remain to be seen, but it is cer...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this means for the power, coal, gas and LNG, and oil products sectors.Impact on power and coal...Read More
Russian diamond major Alrosa on Tuesday announced that it would temporarily suspend mining works at two operations, citing a decrease in demand and sales as major economies are struggling amid the Covid-19 pandemic. Mining will cease at the Aikhal underground mine from May 15 to September 30 and the Zarya openpit will be put on care and maintenance from May 15 to December 31.AdvertisementAlr...Read More
The three-month zinc price on the London Metal Exchange maintained upward momentum at the close of trading on Thursday May 7, settling above the nearby $2,000 per tonne resistance level for the first time in over a month, while steady buying in copper saw price action similarly incline over the afternoon. Zinc's underlying price on the LME closed at $2,003.50 per tonne at the 5pm London close on T...Read More
United States-based Ball Corp expects to slightly delay beverage packaging growth projects in Europe and Brazil as a result of the impacts of the Covid-19 pandemic. The metals packaging and aerospace supplier said projects for multiple beverage can line additions will be executed across its existing European plant network in 2020 and beyond to meet demand recovery, but that certain work has been d...Read More
RAPAPORT... The Israel Diamond Exchange (IDE) has become the latest bourse to revive operations, as trading centers around the world slowly return to action following lockdowns.Facilities including banks, the post office, customs, the diamond controller's office and the Brinks safety-deposit room opened on Sunday after being partially or entirely closed for several weeks, the IDE said this we...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Thursday May 7. Fastmarkets' daily alumina index, fob Australia was little changed at $241 per tonne on Thursday from $241.37 per tonne a week ago. Key drivers: Majority of market sees $240 per tonne as repeatable after multiple deals were concluded around this level last week. The most recen...Read More
The US Department of Commerce has initiated anti-dumping and countervailing duty investigations into imports of pre-stressed concrete steel wire strand from 15 countries. Argentina, Colombia, Egypt, Indonesia, Italy, Malaysia, the Netherlands, Saudi Arabia, South Africa, Spain, Taiwan, Tunisia, Turkey, Ukraine and the United Arab Emirates will be investigated for dumping, and Turkey will be invest...Read More
Declining market activity due to the ongoing Covid-19 pandemic and competitively priced imports worked in tandem to lower steel reinforcing bar prices in the United States, market participants said. Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US narrowed lower to $29-29.50 per hundredweight ($580-590 per short ton) on Wednesday May 6, down from $29-30 per cwt pre...Read More
The Brazilian steel industry currently has 12 blast furnaces and a number of meltshops and rolling mills that are at a standstill because of the lack of demand resulting from the Covid-19 pandemic, according to national steel association Instituto A??o Brasil."April was the worst month for sales since 1995," A??o Brasil executive president Marco Polo de Mello Lopes said on Thursday May 7 after a m...Read More
Demand for imported steel billet and domestic steel reinforcing bar (rebar) in Egypt remained weak in the week to Thursday May 7, with no improvement anticipated soon due to the Islamic holy month of Ramadan and the Covid-19 pandemic, sources told Fastmarkets.No new billet deals were heard over the past week, sources said.Ramadan, traditionally a slow month for trade in Muslim countries, bega...Read More
Trading activity in the Commonwealth of Independent States' export billet market switched to China in early May, while other outlets remained quiet due to the religious holidays in the Middle East, Africa and part of Asia as well as the effects of the Covid-19 pandemic.A 40,000-tonne cargo of Russian billet was reported sold to China through a trader at slightly below $370 per tonne cfr, equivalen...Read More
Italian steel producers have begun to restart their operations after the Covid-19 pandemic lockdown measures were eased in the country from the start of this week, Fastmarkets heard on Thursday May 7.European steelmakers reduced output and temporarily idled equipment in March and April due to the poor demand under the lockdown conditions and other quarantine measures implemented across the region,...Read More
Mining companies are looking to trading houses and specialist funds for credit since lower metal prices and enforced shutdowns have restricted cashflow. Peru, Mexico, Bolivia, Ecuador, the Democratic Republic of Congo and South Africa are among major mining nations to order mine closures as part of countrywide lockdowns designed to protect against the spread of the Covid-19 disease. Cashflow-limit...Read More
Broader markets were mixed this morning, Thursday May 7 after Wednesday’s employment data in the United States knocked market confidence, but with a barrage of data expected today and Friday, the market is braced for a reality check. Not, all the data released so far has been bad though; the all-important Chinese trade data for April showed a surprise 3.5% rise in exports compared with a year...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe update confirmed a robust project that would pick up from the oxide operation in FY2022 and carry Simberi through to FY2035, producing 1.Read More