Nickel and copper prices on the London Metal Exchange resisted a continuously surging dollar index during morning trading on Thursday June 21, recovering from recent sell-offs amid renewed trade tension rhetoric. Climbing back above $15,000 per tonne, nickel's three-month price surged more than 3% since Thursday's low of $14,700 per tonne. Equally, copper's three-month price ticked 0.8% higher ove...Read More
UC Rusal has restarted its Friguia alumina refinery in Guinea more than six years after production was halted, the company said on Thursday June 21. Friguia has an annual nameplate capacity is 650,000 tonnes of alumina and 2.1 million tonnes of bauxite. Rusal reached agreements with the Republic of Guinea, which provide for the ramp up of production up to 550,000-600,000 tonnes of alumina per year...Read More
The latest news and price moves to start the Asian day on Friday June 22.Zinc prices on the London Metal Exchange fell by more than 2% by the close of trading on Thursday June 21, while sister metal lead struggled to find support amid an intensified trade war between China and the United States. Read more in our live futures report.Here are how prices looked at the close of trading:The L...Read More
Hong Kong show opens with rising expectations forChinese demand after Las Vegas demonstrates positive US market. Polished pricesfirm for RapSpec A2+ diamonds, and buyers shifting to lower price points forlower-quality goods. Limited inventory supporting prices for 3 ct. and larger diamonds.Rough trading steady during De Beers sight, despite tight manufacturing profitmargins. Consolidation among cu...Read More
Export prices for Turkish rebar dipped slightly for the week ended Thursday June 21 amid fresh bookings.Rebar offers varied within a range of $550-560 per tonne fob on an actual weight basis, unchanged week on week.A total of 50,000 tonnes was reported sold to...Read More
Small manufacturersstruggling to source rough at current price levels. Weaker rupee (INR 68 = $1)negatively impacting suppliers to the local market, but helping exporters.Large manufacturers raising polished production to fill shortages. Newavailable output garners stronger prices than existing stock. Jewelry retailsales stagnant. RoundRead More
"Mineral development will lead economic development and infrastructure development in the north," Natural Resources Canada assistant deputy minister Glenn Mason told this week's Resources for Future Generations conference in Vancouver.Read More
RAPAPORT... Alrosa has lowered the production outlook for itsInternational mine from next year due to enhanced safety precautions following the Mir accident. "In our decision to reduce pace and output we were guided bynew, stricter rules governing health-and-safety system[s]," Alrosa CEO Sergey Ivanovsaid Wednesday. "Our employees' health and safety are an absolute priority forus." The miner has s...Read More
The first longstop date was originally April 20 and was the date all conditions precedent to completing a strategic agreement were to be satisfied.Under the September deal, Centerra was to pay close to US$60 million into government-administered environmental and health funds, in return for an end to existing arbitration, and guarantees of no future blocks on money transfers plus free movement...Read More
Turkey's ferrous scrap import market was idle on Thursday June 21, with consumers in Turkey moving to the sidelines ahead of the Turkish general election on Sunday - the result of which has the potential to influence currency moves and interest rates, industry sources told Metal Bulletin.Moreover, Turkish steel producers are being cautious for the time being, with one trader source citing&nbs...Read More
RAPAPORT... Cryptocurrency transactions have grown to 20% of sales at a California-based retailer in the past year, enhancing the company's ability to clinch high-value deals, its CEO said.Stephen Silver Fine Jewelry, which implemented the system in 2014, claimsto be the first jeweler to accept cryptocurrency."Cryptocurrency has surpassed the volume of retail credit-cardpurchases in the company in...Read More
(IDEX Online) - Jewelers of America (JA) says it applauds the decision by the United States Supreme Court to uphold South Dakota's sales tax fairness law and overturn the 1992 decision in Quill Corp. v. North Dakota. By a vote of 5-4, the Court struck down the earlier judgment which established the current system under which states are prohibited from collecting sales and use taxes from se...Read More
RAPAPORT... De Beers has renamed its retail chain De Beers Jewellers "toreflect the public brand identity already in use," a company spokespersonconfirmed to Rapaport News Wednesday. The London-headquartered retailer announced the change in a filinglast week with Companies House, a UK government agency holding information onbusinesses. De Beers bought out the brand, formerly known as De Beers Dia...Read More
US domestic rebar prices remained flat in the wake of the Section 232 tariffs imposed by the United States on steel and aluminium imports from Canada, Mexico and the European Union on June 1, with supply said to be tightening on certain sizes.American Metal Market's June 20 price assessment for domestic rebar remained at $35-36 per hundredweight ($700-720 per ton), where it has been since Apr...Read More
Metal Bulletin has today corrected its assessment for the Turkey rebar export market.Metal Bulletin has corrected its Turkey export rebar assessment, which was published incorrectly on June 21 due to a technical error.The published assessment was $540-566 per tonne fob on actual weight basis and was corrected to $540-550 per tonne fob. Metal Bulletin's price book and database have been updated to...Read More
RAPAPORT... India saw its best May for polished-diamond exports in seven years, with shipments growing 8% year on year to $2.21 billion. That mainlyreflects a 27% jump in the average price, which came to $775 per carat. Themonth's figures include goods shipped to the US for the Las Vegas trade showsin the first week of June.India Diamond Trade Data for May 2018 $ Millions unless stated otherwiseRead More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBillet CIS, export, billet, traded at...Read More
Imported steel billet prices in Egypt rose this week but domestic rebar prices remained unchanged, sources told Metal Bulletin on Thursday June 21. Metal Bulletin's weekly price assessment for domestic rebar in Egypt on June 21 was unchanged at E ?12,525-12,528 ($700) per tonne ex-works. The country's major rebar producer, Ezz...Read More
Welcome to Creamer Media’s Resources Watch, a weekly video round-up of the events and people making and shaping the news in the mining industry.This week:AdvertisementDe Beers concludes R600m transport empowerment deal at Venetia diamond mineAnd, Mandela Mining Precinct partner boasts simulation capabilities, serves as ‘test-bed’ for Mining 4.0 technologiesAdvertisementDe Beers C...Read More
Domestic prices for heavy steel plate have been under pressure from weak demand, sources told Metal Bulletin.Trading activity has been slow because buyers have sufficient stocks of material, market sources said."Buyers have enough material and don't need to re-stock ahead of the traditionally slow, second half of summer," one trader said.Metal Bulletin's price assessment for domestic grade-S235JR...Read More