Alrosa has paused production at certain lower-value deposits as the diamond industry continues to face an inventory imbalance and external challenges, its CEO said.The Russian miner placed on care and maintenance select alluvial mines that contain diamonds priced at $50 to $60 per carat, Sergey Ivanov told members of the trade at the International Diamond Week in Israel on Monday. "In case the mar...Read More
BriteCo, an innovative appraisal and insurance technology company, announced that IDEX, the leading online diamond-trading platform for professional diamond traders, has become BriteCo's preferred source for diamond pricing. Free to qualified jewelers, BriteCo's appraisal software provides retail jewelers with intuitive, self-guided screens to enter key information, include ph...Read More
(IDEX Online) - Chow Tai Fook Jewellery has closed over 40 points of sale in Hong Kong and Macau because of the ongoing threat of the coronavirus. The company is also taking steps to reduce operating hours at its remaining stores, with shops closing at 7 p.m.According to the Nikkei Asian Review the retailer is not planning on laying off any staff. Instead, the company will "arrange for front-line...Read More
(IDEX Online) - The Responsible Jewelry Council (RJC) has announced it will unveil its latest retailer initiatives and resources at The Plumb Club pavilion during the 2020 JCK show. The not-for-profit organization will have a booth where it will meet with companies about RJC certification, integrating sustainability into their operations - and building trust and confidence with consumers.&nbs...Read More
Russian diamond miner Alrosa's rough and polished diamond sales increased by 44% year-on-year to $405-million in January.This included $390.2-million worth of rough diamonds sold to third parties and $14.8-million of polished diamond sales.Advertisement"January saw steady demand for rough diamonds as cutters continued restocking on the back of positive Christmas jewellery retail sales,&qu...Read More
(IDEX Online) - Lucapa Diamond Company Limited's first sales of diamonds from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho 2020 have realized A$8.2 million ($5.5 million). A total of 1,548 carats of diamonds recovered from Lulo sold for A$5 million ($3.4 million). This meant an average price per carat of A$3,251 ($2,200).The company sold 6,306 carats o...Read More
Demand for long steel in the United States market will be steady in 2020 while Brazil's steel sector is expected to recover this year, the International Rebar Producers & Exporters Association (Irepas) said on February 5. The United States Steel supply increased in the US due to a growth in domestic production and more imports from Section 232-exempt countries, Irepas noted. The United States prod...Read More
The prices of hollow steel sections in Europe remained flat this week, with eyes on the soon-to-be-exhausted import quota allocated to Turkey, sources told Fastmarkets on Wednesday February 12.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-640 ($677-698) per tonne on Wednesday, unchanged week on week.Prices have remained steady des...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesCEO of subsidiary, Pebble Limited Partnership, CEO Tom Collier said he had scrutinised the leaked US Army Corps of Engineers document, confirming the near final report was positive, demonstrated itRead More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesSouth32 exercised its option to acquire a 50% interest in December 2019. Trilogy contributed all its UKMP assets—some 172,675 hectares—to the JV while South32 contributed US$145 million.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesUnder the agreement, Kennecott can accelerate the earn-in and has the right to elect to form a joint venture after completing either the first, second or third option.Emgold is acquiring 100% of New York Canyon from junior Searchlight Resources by paying a further C$300,000 over 18 months under a deal agreed in mid-2019. ...Read More
While equity markets remain buoyant on optimism that the spread of the novel coronavirus (2019-nCoV) may be slowing, the base metals seemed more circumspect on Wednesday February 12 as they wait to see what the fallout from the virus will be in terms of how much disruption the manufacturing sector is suffering.LME base metals prices were up by an average of 0.2% and Asian equities were up acr...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe miner is undertaking technical review of the mine, which had operated at reduced capacity in recent years, owing to constrained weather-related water availability.Read More
Turkey has returned to the United States' ferrous scrap market, paying higher prices and leading many to believe that the US ferrous export market is showing signs of recovery.A sale to Turkey by an East Coast exporter was reported on Wednesday February 12 involving a 40,000-tonne cargo at a price that was up by $4-8 per tonne from the two prior sales on February 7, in which an 80:2...Read More
Prices for 300-grade stainless steel moved higher week on week in the United States, driven more by tightness in supply than by the intrinsic values of nickel, chrome and iron, Fastmarkets understands."Stagnant supply remains the driving force behind current stainless steel scrap price stability," one scrap dealer said. "Clearly, supply concerns exist and sellers finally have some leverage," he co...Read More
Turkish deep-sea scrap import prices have increased sharply with improving demand from the country's steel mills, sources said on Wednesday February 12.A steel mill in the Izmir region has booked a US cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $268 per tonne, 12,000 tonnes of shredded at $273 per tonne and 4,000 tonnes of bonus at $278 per tonne cfr. It was not clear whether this deal w...Read More
Seaborne coking coal prices were steady on Wednesday February 12, with a premium mid-vol cargo fetching $150 per tonne fob Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, up $0.44 per tonnePremium hard coking coal, cfr Jingtang: $160.73 per tonne, unchangedHard coking coal, fob DBCT: $127.01 per tonne, unchangedHard coking...Read More
Seaborne iron ore prices remained firm on Wednesday February 12 following an announcement by Vale that it expects lower production for the quarter ending on March 31.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.68 per tonne, up $0.75 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.01 per tonne, up $0.75 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.93 per tonne, up $0.7...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 11 that are worth another look.A block on the World Trade Organization's dispute settlement process has paralyzed progress in steel cases, including those pertaining to Section 232, which could result in a disparity between steel prices in the United States and those in the rest of the world, according to two trade expe...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening comments.Bed Bath and Beyond dropped $3.91 to $10.94 after reporting lower than consensus fourth quarter revenues and earnings. The company also lowered guidance. Visa added $1.86 to $205.80 after Oppenheimer raised its target price from $210 to $220.MolsonCoors gained $3.25 to $61.30 after rep...Read More