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
Sales of the world’s largest diamond miner by volume, Alrosa, came to a near halt in April, with the company only selling $15.6-million in rough and polished diamonds in the month.This compares with sales of $152.8-million in March and $405-million in January this year.AdvertisementThe Russian company virtually stopped selling diamonds as governments across the globe were taking active...Read More
(IDEX) - Alrosa's monthly figures reveal the full impact of COVID-19, with April sales of rough and polished plunging to just $15.6m.That's a fall for the state-owned Russian miner of 96 per cent on $405m sales in January, before coronavirus lockdowns and travel restrictions came into force. Sales for the world's largest diamond producer by volume in 2019 were $3.3bn.Alrosa sou...Read More
(IDEX Online) - The case against lab-grown diamond companies accused of patent infringements is to go ahead, after a judge threw out their motions to dismiss.The Carnegie Institution of Washington and WD Lab Grown Diamonds, the manufacturer licensed to use its chemical vapor deposition (CVD) technology, are jointly bringing a case against competitors at a New York federal court.Defendants Fenix Di...Read More
(IDEX Online) - The billionaire who owned Firestar Diamond yesterday began his legal fight against extradition to India, where he is accused of defrauding the Punjab National Bank out of $1.85bn.Nirav Modi, 49, is alleged to have persuaded corrupt bank workers to approve low-rate loans for importing foreign goods, which he used to pay off debts. He was India's most wanted man and was the...Read More
Aim-listed BlueRock Diamonds has advised that its expansion plans for the Kareevlei diamond mine, in the Kimberley region of South Africa, remain on hold.The mine is, however, expected to reach full operating capacity by the end of May.AdvertisementThe mine has started ramping up operations, after having restarted following a complete shutdown of mines in South Africa from the end of March to...Read More
The recovery of zinc metal prices is set to continue with stronger Asian demand outpacing supply cuts, and there are no expectations for a review of annual zinc treatment charges (TCs) due to the Covid-19 pandemic, Nexa Resources chief executive officer Tito Martins said on Tuesday May 12."We are seeing a market adjustment in Asia," Martins told analysts and investors in the company's first-quarte...Read More
RAPAPORT... Lucara Diamond Corp. has indicated the market could improve in the second half of 2020 as lower rough supply and a recovery in Asia bode well for prices."Though our near-term outlook on diamond prices remains uncertain, global rough-diamond production curtailments, combined with early indications of polished diamond-demand recovery in Asia, provide some optimism that demand will i...Read More
Troubled oil trader ZenRock owes at least $615 million to banks, suppliers and customers, it said in Singapore court filings seen by Fastmarkets.ZenRock has $116.1 million in secured financing owed to the banks HSBC, Natixis, BCP, Bank of China, Credit Agricole and ING Bank, the company's president, Xie Chun, told Singapore's High Court in an affidavit.The company has $448.9 million in unsecured o...Read More
Low inventories should help limit stock builds in copper, zinc and nickel that may materialize due to the decline in demand resulting from the Covid-19 pandemic, according to the chief executive officer of Glencore. The company estimates that 4% of global copper supply for this year forecast prior to the virus has been lost due to shutdowns and cuts created by the virus, excluding smelting/refinin...Read More
London Metal Exchange base metals prices were down at the close on Tuesday May 12, while the previous day's rally abated with the complex absorbing market optimism for a global commercial restart."There were a lot of the positive dynamics that led to yesterday's price rebound, from a recovery in global equities markets, to the reopening of China and the easing of lockdowns in Europe," Fastmarkets...Read More
Hot-rolled coil prices have held steady in the United States because both buyers and sellers are leery of pushing tags lower for limited spot volumes.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.92 per hundredweight ($498.40 per short ton) on Tuesday May 12, little-changed from $24.89 per cwt on Monday May 11 and up by 1.9% from $24.46 per cwt a week earlier on...Read More
Brazilian automakers are slowly resuming production after more than a month of idling due to Covid-19 brought the country's car output to near zero in April.General Motors (GM) reopened its engine plant in Joinville, in the southeastern state of Santa Catarina, on May 12, a company spokesperson told Fastmarkets. The other units owned by the company in Brazil have been preparing for the past four w...Read More
Workers at ArcelorMittal Spain are preparing a series of token strikes in response to the company's decision to apply a new plan for temporary layoffs (known as ERTE), sources told Fastmarkets on Tuesday May 12.The employees planned a series of strikes between May 20 and June 30, a spokesman for ArcelorMittal told Fastmarkets. The workers were reported to have plans for a four-hour strike every da...Read More
Commonwealth of Independent States (CIS) steel slab exporters turned to the Chinese market for sales in mid-May because customers in this market accepted higher prices than any in other destinations, Fastmarkets heard.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $335-340 per tonne on May 12, up from $325-335 per tonne fob a week earlier.Over 100,000 tonnes of...Read More
A summary of German steelmaker Thyssenkrupp's financial results for the first half and second quarter of its 2019/2020 financial year up to March 31, 2020. In brief Thyssenkrupp's performance was significantly affected by the initial effects of the coronavirus pandemic. It cites the weak automotive market as well as price and volume losses in the materials businesses. Its steel Eur...Read More
The price of steel rebar in Russia's Central Federal District around Moscow was unchanged week on week on Tuesday May 12, while buying remained slow due to Covid-19-related restrictions and public holidays, sources told Fastmrkets.Market participants said that construction activity, the key rebar consuming sector, remained limited last week."[Most] construction sites have been closed sin...Read More
Exporters of steel billet from the CIS have managed to secure deals at higher prices outside China, where trading activity has been concentrated recently.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $347 per tonne on Tuesday May 12, up by $2 from May 7.A 10,000-tonne cargo of Ukraine-origin billet was reported sold to Italy at $350 per tonne fob Black Sea.And...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesSeven ways the resources sector can survive the COVID-19 crisisSPONSOREDproudfootThe report reveals some minerals, such as aluminium, copper and molybdenum, will be used across a range...Read More
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