Production at Bosnian steelmaker ArcelorMittal Zenica has been interrupted by a strike, with unions protesting against temporary layoffs, sources told Fastmarkets on Tuesday May 19.The strikes were called on May 19 and affected all operations at the Zenica site except for the coking plant, sources said. The unions did not disclose how long the strikes will last....Read More

RAPAPORT... US polished-diamond imports fell in March to their lowest level since December 2002 as the coronavirus hit global trading. The month saw the 12th consecutive year-on-year decline, according to Rapaport archives based on data from the US Commerce Department. US Trade Data for March 2020Read More

RAPAPORT... The Gemological Institute of America (GIA) has reopened laboratories in five locations following COVID-19 shutdowns.The organization's labs in Johannesburg and Tokyo recommenced limited operations on May 7, the GIA said Monday. Visitors to the Johannesburg lab must make an appointment, have a permit, and wear a mask. The Tokyo location will accept and return goods by delivery only...Read More

Aluminium was the only LME three-month base metals contract to close negatively on Tuesday May 19, with gains in aluminium futures capped by a 26,500-tonne fresh inflow as of 9am. The significant inflows arrived at into LME-approved sheds at Port Klang, Malaysia and Toledo in the United States, with 21,500 tonnes put into warehouses at Port Klang and 5,000 tonnes arriving in To...Read More

RAPAPORT... Jewelry was the top gift US moms received this Mother's Day, with most consumers purchasing online due to store closures, according to a survey by MVI Marketing.Some 57% of husbands who bought their wives a Mother's Day gift purchased jewelry, while 13% gave their partners a watch. Meanwhile, 31% of daughters and 47% of sons bought their mothers jewelry for the holiday. Other popu...Read More

(IDEX Online) - Indian government officials are under increasing pressure to allow up to 30 per cent of diamond workers in Surat to return to work. The cut-and-polish hub has been dormant since the COVID-19 lockdown was imposed on 25 March. Authorities 200 miles away in Mumbai last week said jewelry businesses there could allow up to 10 per cent of their workforce to return, as long as they were f...Read More

TEL AVIV – Israel's economy is slowly returning to normal with the gradual easing of its lockdown, but the once vibrant diamond exchange floor in Tel Aviv remains shut and the diamond district, one of the world's main trade and polishing centres, is still deserted.Before the new coronavirus reached Israel, the trading floor was often a hive of activity where hundreds of people from a...Read More

(IDEX Online) - Former De Beers boss Nicky Oppenheimer and his family saw their $6.85bn fortune dip slightly, as they slipped down the annual Rich List, published by the Sunday Times newspaper in London.They remain the wealthiest representatives of the diamond and jewelry sector in the ranking of the 1,000 richest individuals and families who either live in Britain or have significant links t...Read More

(IDEX Online) - The GIA has reopened its labs in Antwerp, Carlsbad, Gaborone, Johannesburg and Tokyo as lockdown restrictions are eased. Opening hours are limited and restrictions on face-to-face contact mean some centers will only accept diamonds by transport or by prior appointment. The Gemological Institute of America labs in Bangkok, Hong Kong and Ramat Gan remain open. London, Mumbai, New Del...Read More

Alumina prices on an fob Australia basis continued to climb over the past week with buyers from China happy to pay above market levels to import cargoes, Fastmarkets heard on Tuesday May 19."The stronger aluminium prices and demand in China are propping up the international price of alumina," a trader said. "Plants are restarting and life is getting back to normal there, after the [Covid-19 pandem...Read More

Newmont is continuing to ramp up operations at its Pe??asquito lead-zinc-silver mine in Zacatecas, Mexico and expects first production in early June. The mine, which was placed on care and maintenance in early April alongside other non-essential businesses during the Covid-19 pandemic, began ramping up in phases after the Mexican government designated it an essential activity. "Over the next...Read More

Three-month base metals prices on the London Metal Exchange were slightly lower during morning trading on Tuesday May 19, supported by continued market optimism over easing coronavirus restrictions, except nickel which climbed further over the morning. "Yesterday exploded into life when the US drug company Moderna announced its vaccine research was showing 'encouraging results,' which sent the Dow...Read More

Base metals prices are consolidating this morning, Tuesday February 19, following strong performances on Monday, when markets in general reacted to reports that a Covid-19 virus vaccine showed some encouraging results in an early-stage trial. The base metals on the London Metal Exchange are little changed this morning while they consolidate after Monday's strong gains that saw prices close up by a...Read More

Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day despite limited trading activity, sources told Fastmarkets on Tuesday May 19.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?409.84 ($444.90) per tonne on Tuesday, down by only ?,?0.16 per tonne from ?,?410.00 per tonne on Monday.Tuesday's index was calculated based on deals a...Read More

Some of the flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week, but the market is still very slowentering the last week of the Islamic holy month of Ramadan and amid concerns about Covid-19, sources told Fastmarkets on Tuesday May 19.The reason behind the rising prices was strong domestic demand from China and India.No deals were heard during the week and ste...Read More

Steel billet and rebar prices in the United Arab Emirates had mixed fortunes in the seven days to Tuesday May 19, with demand limited by Ramadan and Covid-19 restrictions, market sources told Fastmarkets.Market participants in the UAE said that demand was unlikely to improve before the end of Ramadan in late May.Ramadan is normally a slow month for the region, but the Covid-19 curfe...Read More

The Commonwealth of Independent States (CIS) export rebar and wire rod prices remained stable in the week to Monday May 18 while trading activity in the majority of the outlets was still modest, Fastmarkets learned.Some market participants expected some improvement in finished long-steel prices following the uptick in the scrap and billet segments last week, but there was no sufficient support on...Read More

The export market for hot-rolled coil from the Commonwealth of Independent States was flat in the week ending Monday May 18, but suppliers expect demand to rebound because prices have reached the bottom, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $350-360 per tonne on Monday, narrowing upward from from $340-360...Read More

Base metals prices are consolidating this morning, Tuesday February 19, following strong performances on Monday, when markets in general reacted to reports that a Covid-19 virus vaccine showed some encouraging results in an early-stage trial. The base metals on the London Metal Exchange are little changed this morning while they consolidate after Monday’s strong gains that saw prices close up...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Investors are waiting for Federal Reserve Chairman Powell's testimony later today during a Senate hearing.Equity index futures were virtually unchanged following release of the April Housing Starts at 8:30 AM EDT. Consensus was a drop to 927,000 units from 1.276 million in March. Actual...Read More