RAPAPORT... Mountain Province plans to sell $50 million worth of rough diamonds to an entity owned by one of its major shareholders, generating liquidity amid weak prices.The first sale of $22 million in diamonds to Dunebridge Worldwide will take place on June 11, Mountain Province said Monday. The deal will enable the miner to sell its run-of-mine goods - under 10.8 carats - at the current m...Read More

(IDEX Online) - Angola is to establish a national bourse and diamond hub as it seeks to consolidate its position as a player on the world market.It's currently the sixth biggest diamond producer but has yet to explore 60 per cent of its potential kimberlite reserves.The government believes it could actually increase its rough production as other countries see theirs decline."The main ambition...Read More

US hot-rolled coil prices continue to notch steady gains, and the next test is whether tags can remain on firm ground as idled furnaces restart, some market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $25.98 per hundredweight ($519.60 per ton) on Tuesday June 9, up 0.4% from $25.88 per cwt on Monday and up 3.5% from $25.10 per cwt a week ago on J...Read More

(IDEX Online) - British miner BlueRock says COVID-19 knocked 15 per cent off the price of rough diamonds sold from its Kareevlei mine, in South Africa.The company yesterday announced the private sale of 2,400 carats for a total of $700,000, averaging $290 a carat."The parcel sold did not contain any notable high value diamonds and therefore the price achieved is approximately 15% below what we wou...Read More

(IDEX Online) - A court in India has approved the confiscation of assets owned by billionaire diamantaire Nirav Modi.It's the first time new powers to seize have been exercised since the country's Fugitive Economic Offenders Act came in to force two years ago.Modi, 49, (pictured) is currently in prison in London, fighting extradition to India, where he is accused of defrauding the Punjab...Read More

The export market for flat steel products from the Commonwealth of Independent States improved during the week to Tuesday June, 9 on strong iron ore prices and increasing demand from Asia. Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $395-410 per tonne on Tuesday, up from $365-375 per tonne on January 1."Offers, and the market...Read More

CIS rebar and wire rod producers increased offers in the first half of June, supported by strengthening import scrap prices in Turkey as well as increased finished long steel prices. The Turkish market is considered indicative of price momentum because the country is one of the world's major scrap importers and long steel exporters. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix...Read More

Export slab prices from the Commonwealth of Independent States (CIS) continued to strengthen over the week to June 9, while suppliers managed to win higher sales prices, sources said.One large cargo of Ukrainian material was reported sold to Turkey slightly above $370 per tonne cfr, which would be equivalent to $360 per tonne fob Black Sea, Fastmarkets learned.Initial offers from the supplier were...Read More

The prices for steel rebar in the United Arab Emirates remained stable over the past week, but market sources expect it to increase soon because of rising raw material prices, Fastmarkets heard on Tuesday June 9.Fastmarkets' daily index for 62% Fe fines, cfr Qingdao was $104.60 per tonne on June 9, rising from $101.32 per tonne on June 2.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix...Read More

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Ferrous scrap exports from the United States declined by 15.6% month on month in April due to shipments to Turkey nearly halving compared with March volumes, according to latest figures from the US Census Bureau.US exports of ferrous scrap totaled 1,190,118 tonnes in April, down by 219,871 tonnes compared with 1,409,989 tonnes in March and 1,436,500 tonnes in February.Shipments to Turkey, which fe...Read More

Ferrous scrap prices in Mexico remained largely sideways this week in the steelmaking regions of Monterrey and Bajio as manufacturing activity began to resume with the easing of Covid-19-related restrictions.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey unchanged at 6,100 pesos ($279) per tonne on Tuesday June 9, while the steel scrap No1 heavy...Read More

Despite a mixed picture this morning, Tuesday June 9, generally strong uptrends are underway in most of the base metals. The exception is the infrastructure heavy-weight zinc, although the galvanizing metal is also widely used in the auto industry, which may be why it is lagging behind. Asian-Pacific equities are for the most part stronger this morning, led by a 2.53% gain in the Australian ASX 20...Read More

Turkish deep-sea scrap import prices continued to rise on Tuesday June 9, with mills continuing to book more cargoes for July, sources told Fastmarkets.A steel mill in the Iskenderun region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25) and 30,000 tonnes of a mixture of shredded, plate & structural (P&S) and busheling at an average price of $265 per tonne cfr.The cargo w...Read More

Seaborne iron ore prices eased on Tuesday June 9 amid announcements from the Dalian Commodity Exchange of efforts to stamp out market rumors and strengthen regulation. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $104.60 per tonne, down $1.07 per tonne 62% Fe low-alumina fines, cfr Qingdao: $107.30 per tonne, down $1.35 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $93.39 per...Read More

Seaborne coking coal prices fluctuated slightly on Tuesday June 9, with market participants uncertain whether policies would change and how soon demand would rebound, sources said. Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.32 per tonne, down $1.02 per tonne Premium hard coking coal, cfr Jingtang: $116.33 per tonne, up $1.05 per tonneHard coking coal, fob DBCT: $87.25 per tonne, u...Read More

Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, has suspended production at two of its mines following the steep increase in new Covid-19 cases among its workers, the company said on Monday June 8.JSW will temporarily halt coal production at the KWK Budryk and KWK Knur??w-Szczyglowice mines from June 9 to June 28 due to the worsening of the epidemic...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 28 points in pre-opening trade. Macy's added $0.97 to $10.52 after reporting a less than consensus first quarter loss. Signet Jewelers dropped $0.87 to $16.00 after reporting lower than consensus first quarter revenues. The company also suspended its dividend. EquityClock's Daily Market CommentFollowing is a link...Read More

China's domestic hot-rolled coil prices weakened amid fluctuating futures on Tuesday June 9, while importers asked to pay lower after Indian mills tweaked the specifications of their cargoes offered to the country.DomesticEastern China (Shanghai): 3,630-3,650 yuan ($513-516) per tonne, down 20 yuan per tonneA Shanghai-based trader said prices tracked the fluctuations in the futures market during t...Read More

The cobalt standard grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $14.60-15 per lb on Tuesday June 9, 2020. Bid at $14.6...Read More