Turkish steel producers have stayed away from the deep-sea scrap market, amid limited domestic and export demand for finished steel products, sources told Metal Bulletin on Wednesday July 4.Steel mills in Turkey have already finished their deep-sea bookings for July and expected to start booking for August. But it seems they are happy to wait as long as they can because of the weak finished s...Read More
New Century Resources has cut its third-quarter forecast for the Century Mine zinc tailing project in Queensland, Australia, but said it remains on track for first production in August. At an investor roadshow the company said the expected output for August to September 2018 was now 4,000 tonnes of zinc metal, rather than the 13,000 tonnes it forecast late last y...Read More
RAPAPORT... De Beers' decision to sell synthetic diamond jewelry raises important issues that are fundamental to the future of the natural diamond industry. Let us begin by analyzing the role of De Beers in the diamond industry. Until about 2000 and the advent of their "Supplier of Choice" program, De Beers was the custodian of diamonds. They maintained rough diamond prices by buying excess suppli...Read More
RAPAPORT... A company in Sierra Leone has obtained and exported a 144.12-caratrough diamond worth at least $600,000, authorities in the west African nationsaid Tuesday. A licensed diamond exporter brought the stone to theprecious-minerals trading department of the National Minerals Agency (NMA) lastweek for valuation, the NMA and the Ministry of Mines and Mineral Resources(MMMR) reported. The NMA...Read More
4 July 2018 - ALROSA, the world's largest diamond mining company, has sold special size rough diamonds (weighing over 10.8 carats) at an international auction in Vladivostok, which was held on June 18-29, 2018.The company received a total revenue of $17 million from the sale of 121 gem-quality diamonds with a total weight of 2,000 carats.Companies from Belgium, China, Hong Kong, India, Israel,...Read More
The latest metal markets news and price moves for the start of the North American day on Wednesday July 4. Base metals prices on the London Metal Exchange were mostly lower during morning trading following a poor morning session in SHFE trading and growing concerns of global trade tensions. The three-month copper price reached an intraday low of $6,423 per tonne - around its nine-month low - and c...Read More
RAPAPORT... The Gemological Institute of America (GIA) has graded a5.01-carat lab-grown diamond that, its producer claims, is the largest pinksynthetic diamond in the world. New York-based Unique Lab Grown Diamond created the stone usingchemical vapor deposition (CVD). The square-radiant-shaped, fancy intensepinkish-orange synthetic stone has the equivalent of SI clarity, the GIA saidin a lab note...Read More
The duty-free aluminium import arbitrage between the United States and Asia is little changed this month but remains wide with the US Midwest premium well supported throughout June. The differential between canceling aluminium without the 10% Section 232 tariff from London Metal Exchange-listed warehouses in Asia and shipping the material into the US Midwest has maintained at high levels in every...Read More
(IDEX Online) - Signet Jewelers Limited has announced two executive appointments rounding out a leadership team "aligned to drive the company's transformation under its "Path to Brilliance" plan. Mary Elizabeth Finn has been named Chief People Officer, while Stephen E. Lovejoy has been named Chief Supply Chain Officer, effective immediately. Finn and Lovejoy will report directly to the Chief Exec...Read More
3 July 2018 - Rio Tinto's Australian Diamonds program has launched its latest campaign in India highlighting a new range of affordable bridal and fashion jewellery from the company's Argyle diamond mine in Australia.Mithali Raj, captain of the Indian women's cricket team is the official ambassador for the new campaign, helping promote the popularity of diamonds in fashion and bridal jewellery, p...Read More
RAPAPORT... Stornoway Diamond Corporation will recommence operations at itsRenard mine in Canada after a brief suspension caused by a nearby forest fire,it said Tuesday. The miner will start sending staff members to the site onWednesday, and expects full operations to resume immediately. Stornoway announced the temporary suspension on Monday dueto restricted access to the mine. While the blaze did...Read More
Resurfacing concerns over Indonesian tin supply boosted the standard ingot grade premium in the week to Tuesday July 3, while the low-lead premium ticked lower on weak spot demand; other premiums were unchanged on balanced fundamentals. Indonesian supply issues elevate European standard grade premium Low-lead premium pressured down on lower demand United States, China premiums flat on b...Read More
(IDEX Online) - Preparations are moving into high gear for the VICENZAORO September show in Vicenza from September 22 to 26, according to the organizers. The fall edition of the trade show takes place at an important time of the year when businesses place orders and restock ahead of the end-of-year selling season. The September show will feature for the first time "The Design Room," tailore...Read More
Quebec diamond miner Stornoway Diamond Corp will remobilise its staff to the Renard mine and resume full operations on Wednesday, after rainfall and a shifting of prevailing winds have allowed wildfires to be contained.The company ceased operations on Monday as a safety precaution, after fires affected access to the mine site. On Monday morning, fire was located 12.6 km south of the mine, but just...Read More
(IDEX Online) - Rio Tinto's Australian Diamonds program has launched its latest campaign in India highlighting a new range of affordable bridal and fashion jewelry from the company's Argyle diamond mine in Australia. Mithali Raj, captain of the Indian women's cricket team, is the official ambassador for the new campaign, helping promote the popularity of diamonds in fashion and bridal...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Wednesday July 4 following a poor morning session in SHFE trading and growing concerns about global trade tensions. "The interim slide in oil prices also weighed on base metals prices yesterday afternoon. In addition, evening trading on the Shanghai Futures Exchange showed marked weakness, which has spilled...Read More
Quebec diamond mine owner and operator Stornoway Diamond Corporation said on Monday that mining operations at the Renard diamond mine have been temporarily suspended, owing to a forest fire.On Monday morning, the fire was located 12.6 km south of the mine, but just 3.6 km south of the Clarance and Abel Swallow Airport, and within 100 m of the mine’s access road.AdvertisementThe fire covers a...Read More
A widening backwardation in London Metal Exchange forward prices subdued premium movements globally for zinc while China and Southeast Asia lead markets gain momentum due to environmental restrictions on production there. Backwardation in LME zinc's cash/three-month spread widens to $55.50 per tonne. Indian zinc premiums rose in historical high on the high end of its range. Southeast As...Read More
Italian steelmaker Feralpi increased its crude steel production in January-June 2018 by 3.5% year-on-year, it said this week.Crude steel production was 1.29 million tonnes in the first half of 2018, Feralpi said, compared with 1.24 million tonnes in the corresponding period in 2017.Production of cold-rolled steel products in January-June was largely stable year-on-year at 489,000 tonnes.But hot-ro...Read More
Prices for rebar produced and delivered in Southern Europe rose sharply by ?,?15-25 per tonne over the past week as mills pushed through price increases, sources told Metal Bulletin on Wednesday July 4.Metal Bulletin's weekly price assessment for domestic rebar in southern Europe was ?,?500-515 ($583-600) per tonne delivered on Wednesday, up from ?,?475-500 per tonne one week earlier. The assessme...Read More