The apparent reaffirming of a phase one trade deal between the United States and China continued to drive an increase in London Metal Exchange three-month prices during the afternoon on Tuesday August 25, with LME base metals futures universally closing up at the 5pm kerb. The LME base metals complex has become prone to following macroeconomic developments, and today was no exception, with the lat...Read More

Exporters of steel slab from the Commonwealth of Independent States mostly kept their offer prices stable in the week to Tuesday August 25, although some made attempts to achieve a slight increase because of reduced availability.Customers, however, adopted a wait-and-see attitude while waiting for more clarity to emerge in the scrap and finished flat steel products sectors."The market is a little...Read More

RAPAPORT... India's polished-diamond exports fell in July but at a gentler pace than in earlier months as the US, Europe and China returned to more normal business levels. Polished shipments out of the country dropped 39% after heavier slumps in April to June, when demand dried up across major markets. India Trade Data for July 2020Read More

RAPAPORT... The Gemological Institute of America (GIA) will offer $1 million in scholarship funds in 2021 to aspiring students and those looking to advance their careers, it said Monday.Students and professionals interested in gemology and jewelry-manufacturing arts programs, distance-education courses and lab classes can apply for funding. The scholarships cover classes at the GIA's campuses arou...Read More

RAPAPORT... De Beers Jewellers has appointed C?(C)line Assimon as CEO, succeeding Fran??ois Delage, who will step down after 10 years in the role.Assimon, who was most recently CEO of Swiss luxury jeweler De Grisogono, also held executive positions at jewelry brand Piaget and in the jewelry division of Louis Vuitton. She has extensive experience in marketing, sales and merchandising of high-end je...Read More

(IDEX Online) - Organizers of Britain's biggest trade show, International Jewellery London, have announced they will not hold a 2021 edition because of COVID-19, having already canceled this year's event.The 2020 show was due to have taken place at Alexandra Palace, London, on 9 June.Reed Exhibitions says cancelling IJL 2021 was an "even more difficult decision" than pulling the plug on...Read More

(IDEX Online) - De Beers is understood to be discounting rough stones at last, as the pandemic shows no sign of ending.Sight holders can expect to see price reductions of as much as 10 per cent on diamonds over a carat.Sales have ground to a virtual halt, down 95 per cent from ?, ?1.2bn in Q2 2019 to $56m for the same period this year.De Beers, the world's top producer by value, is hopin...Read More

(IDEX Online) - The GIA is offering $1m in scholarships to help students embark on careers in the gem and jewelry industry.It has awarded more than $14m in scholarships since 2010, helping more than 3,000 students study on-campus and through distance education programs."To meet the challenges of the pandemic, we are adapting to provide education that positions students for success within the gem a...Read More

(IDEX Online) - De Beers has warned staff in Botswana of possible job losses when the country's Covid-related state of emergency (SoE) lapses at the end of October.The SoE, introduced in April, prevents employers from laying off workers.Botswana, the world's top diamond-producing country by value, saw Q2 sales fall by almost two-thirds because of coronavirus.  It relies on diamonds...Read More

The Brazilian aluminium industry association, Abal, expects to propose a new duty-free import quota to national foreign trade chamber Camex in a month's time, its president, Milton Rego, told Fastmarkets on Tuesday August 25.Market participants have been apprehensive for more than a month now about the possibility of filling quota volumes before the year-end. Imports of primary aluminium are free...Read More

Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama fell by 1.7% year on year at the end of July, according to data released by major Japanese trading house Marubeni Corp. Total aluminium stocks at the three ports stood at 341,400 tonnes on July 31, down by 5,900 tonnes from 347,300 tonnes at the end of June, figures released on Monday August 24 showed. Th...Read More

China's imports of unwrought aluminium and aluminium products soared by more than sixfold on a year-on-year basis in July, while copper shipments also increased, but to a lesser degree, Chinese customs data, seen by Fastmarkets on Monday August 24, shows.AluminiumJuly imports: 391,237 tonnes, up by 570% year on year, up...Read More

Three-month base metals prices on the London Metal Exchange were predominantly up during morning trading on Tuesday August 25, with price action consolidating higher against news of a reaffirmed commitment to trade talks between the United States and China, while zinc futures led the way in a 1% morning uptick.Zinc's outright price on the LME was recently trading at $2,481.50 per tonne on Tuesday...Read More

Hot-rolled coil prices in the United States have topped $24.50 per hundredweight ($490 per short ton) for the first time in nine weeks on longer mill lead times and limited spot availability at some producers.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.58 per cwt ($491.60 per ton) on Tuesday August 25, up by 1.7% from $24.16 per cwt on Monday August 24 and up...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesIt was previously planning to construct a fit-for-purpose mill.The company, which recently reported seven straight quarters of positive cash flow from ongoing underground bulk sampling at Farellon, said it had reached a promissory agreement over the assets with SBX Chile.Artemis all set thanks to unique approachSPONSOREDartemi...Read More

ArcelorMittal has restarted its blast furnace (BF) No3 at its Dunkirk flat steel plant in France, the company told Fastmarkets on Tuesday August 25."We have restarted BF No3 in Dunkirk and it is currently in its ramp up phase," the company's spokesman said.ArcelorMittal announced its plans to resume production in the middle of July after the equipment was idled from March 23 this year, when steel...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesWire services reported workers blocked access to the site on Monday after PT Freeport Indonesia stopped a bus service, which allowed workers to visit their families, due to coronavirus concerns.Police chief Eduard Edison told AFP the protest, which was continuing today, was peaceful "and so far everything is under control".Artemis...Read More

Flat steel import prices in the United Arab Emirates and Saudi Arabia continued to edge up this week, despite demand still being weak, sources told Fastmarkets on Tuesday August 25.No deals were heard during the week because of liquidity problems in the UAE, as well as buyers preferring to wait for prices to fall.UAEOffer prices for hot-rolled coil from Japan were heard in the UAE at $540-550 per...Read More

Prices for steel rebar and billet in the United Arab Emirates decreased slightly this week because of weak demand, market sources said on Tuesday August 25.Domestic rebarRebar producers in the UAE have been offering the product at 1,800-1,830 dirhams ($490-498) per tonne ex-works for orders with September-production  since August 17, with deals heard over the week at 1,750 dirhams per tonne e...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesBMO Capital Markets noted the operation remained a cash burner, however KGHM's VP of international assets Pawel Gruza said on a conference call the operation might not need financial support from its JV partners from 2021, a year later than planned due to COVID-19.KGHM had reported second quarter EBITDA of PLN1 billion for its Poli...Read More