** Metals miner Rio Tinto falls as much as 1.4 pct,while larger rival BHP trades 1.6 pct lower** U.S. President Donald Trump said on Thursday that UnitedStates would impose import tariffs on steel and aluminium,raising concerns about a trade war ** "Any kind of challenge to world trade and global growthmeans there is real risk for our markets," said said MathanSomasundaram, market portfo...Read More
SHANGHAI, Mar 1 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightAs the US dollar continued to go up, with the dollar index hitting a post-Chinese New Year high at 90.62, and China’s manufacturing purchasing managers’ index (PMI) failed to meet expectations, we saw a big slump in base metals futures except for SHFE alumi...Read More
** Department store operator Matsuya Co rises 3.7pct to 1,546 yen** Co says February sales at its main store in Ginza rose12.3 pct on year** Co has underperformed the Tokyo SE TOPIX Retail TradeStock Price Index sector by 3.7 percentage points inthe past one month** The main stock index NIKKEI 225 has fallen 1.56percent in the past month** As of 01:03 GMT, about 106.00 thousand shares of theTokyo-...Read More
China's steel purchasing managers' index (PMI) fell into contraction territory in February after nine months of expansion.The index fell 1.4 points to 49.5 points in comparison with that for January, according to data released by the China Federation of Logistics & Purchasing (CFLP) on Wednesday February 28.Business activity in the steel industry thinned...Read More
SHANGHAI, Mar 1 (SMM) -Copper: LME copper lost support at the $7,000/mt level and SHFE copper fell to a low of 52,380 yuan/mt overnight as the US dollar remained strong. With pressure on base metals, we see copper staying rangebound in the short term with possible upward room in the medium term. We expect LME copper to trade at $6,900-6,970/mt and the SHFE 1804 contract to trad...Read More
Date 3/2 (BOJ Financial Markets Department) - The Bank of Japan said it offered to buy 250 billion yen in treasury discount bills oughtright from 3/6. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can...Read More
Handan, a major steel-producing city in north China's Hebei province, will step up its steelmaking curbs by cutting production by 50-55% until the end of March, according to an official notice from its local government late on Monday February 26. The city, which is among 28 in the country's northern region that are limiting production at 50% of capacity during the winter heating season, which ends...Read More
Date 3/2 (BOJ Financial Markets Department) - The Bank of Japan said it offered to buy 250 billion yen in JGBs outright with residual maturities of more than 1 year and up to 3 years from 3/6. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, ne...Read More
China's imports of iron ore rebounded to the second highest ever in January while those for coking coal fell to a seven-month low. Exports of scrap surged on the year, while those for coke, which include semi coke, contracted.[Editor's note: This table has been amended...Read More
Positivesentiment after Chinese New Year. Hong Kong show starts off slow, with Chinesebuyers still on vacation. Steady dealer demand and firm prices for 0.30 to 1ct., G-J, VS-SI, RapSpec A2+ diamonds. Indian consumers and banks cautious asfallout from alleged $1.8B Nirav Modi-Gitanjali fraud widens, with new reports ofunpaid $810M Gitanjali loan. A.Jaffe, Firestar Diamond and Fantasy file forbankr...Read More
Africa-focused Stellar Diamonds (LON:STEL) said Wednesday it had finalized its tribute agreement and revenue share with junior Octea Mining for the Tongo-Tonguma diamond project in eastern Sierra Leone.The deal, which allows for mining the combined and contiguous Tongo and Tonguma concessions, is expected to create one of the largest diamond mines in West Africa."The closure of the agreements with...Read More
Date 3/2 (BOJ Financial Markets Department) - The Bank of Japan said it offered to buy 330 billion yen in JGBs outright with residual maturities of more than 3 years and up to 5 years from 3/6. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, n...Read More
(IDEX Online News) - There was a clear downward trend in price changes in many categories of round diamonds in February, particularly in categories from 0.30-0.39 to 0.80-0.89 carats and 2.00-3.99 carats. However, there were rising prices in the smallest stones of 0.18 to 0.29 carats, and in 1.50-1.99 carat diamonds. Fancy diamonds saw relatively few price changes in the smallest ca...Read More
By: John Bristow and Dan MoagiSouth Africa’s minerals and mining industry faces severe headwinds. The Republic of South Africa hosts a treasure trove of geology and minerals, valued at about $2.5-trillion. Without modern exploration, prospecting and new local and foreign investment, these resources will not be developed for the benefit of the country and its people.AdvertisementChallenges fa...Read More
Exporters of CIS-origin pig iron have increased their offer prices, citing rises in scrap prices, sources have told Metal Bulletin.Metal Bulletin's export price assessment on Thursday March 1 for high-manganese pig iron from the CIS region was $350-365 per tonne fob Black Sea, narrowing from $345-370 per tonne fob Black Sea a week earlierAfter several cargoes of Ukraine-origin pig iron were sold t...Read More
Date 3/2 (BOJ Financial Markets Department) - The Bank of Japan said it offered to buy 450 billion yen in JGBs outright with residual maturities of more than 5 years and up to 10 years from 3/6. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however,...Read More
(IDEX Online) - Registration has opened for participation in the first-ever edition of the Bharat Diamond Week at the Bharat Diamond Bourse (BDB) in Mumbai, India. The BDB expects thousands of visitors from India and abroad to take part in the April 23-25 international diamond week. The BDB said that 200 Indian companies will be exhibiting polished diamonds to buyers from across the world....Read More
JOHANNESBURG (miningweekly.com) – Aim-listed BlueRock Diamonds expects to treat in excess of 275 000 t of material this year, compared with the 153 147 t treated in 2017.The company, which operates the Kareevlei mine, in South Africa’s Kimberley region, on Thursday also noted that it expects to achieve an average grade of 3.5 carats per hundred tons (cpht) to 4.5 cpht for this year, in...Read More
Prices for steel hollow sections have remained largely unchanged across Europe this week, with extreme weather in the region contributing to the low demand, sources said.Metal Bulletin's price assessment for Northern European domestic hollow sections remained at ?,?650-670 ($794-818) per tonne delivered on Wednesday February 28."Most [of Scandinavia]...Read More
Date 3/2 (BOJ Financial Markets Department) - The Bank of Japan said it offered to buy outright 25 billion yen in inflation-indexed Japanese government bonds from 3/6. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. n...Read More