(IDEX Online) Alrosa has moved its March auctions for rough and polished diamonds from Hong Kong to other trading centers. The decision comes amid the ongoing spread of the coronavirus in the region.An auction for special size rough diamonds will take place in Moscow from March 2-18. The Israeli trading center of Ramat Gan will host a polished diamond auction although the dates have yet to be fina...Read More
Dominion Diamond Mines ULC has appointed Patrick Merrin as its interim CEO. Merrin, COO - Mining of The Washing Companies, takes over from Shane Durgin who has left Dominion. "Having Patrick step in as interim CEO, in addition to his recently announced role as COO - Mining for The Washington Companies, will provide for a seamless transition in leadership and continued strong oversight m...Read More
Prices for steel mesh-quality wire rod in Europe were flat this week although feedstock costs continued to fall, sources told Fastmarkets on Wednesday February 5.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, remained at ?,?460-470 ($508-519) per tonne on February 5, the third consecutive week of stability.Feedstock prices rose sharply...Read More
The price of hollow steel sections prices in Europe remained flat this week, with many waiting for the import quotas to be exhausted which will support the domestic market, sources told Fastmarkets on Wednesday February 5. Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?620-640 ($685-707) per tonne on Wednesday, unchanged week on week. F...Read More
The price of steel H-beams in Northern Europe moved down on Wednesday February 5 following a sharp drop in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?540 - 570 per tonne ($597-630) per tonne on Wednesday, down from ?,?550-580 per tonne a week earlier.Producers had been pushing for price increases for H...Read More
Iranian export steel billet and slab prices increased in the week to Wednesday February 5, but no new deals have been heard.In the wider market in the region, the steel billet index, export, fob Black Sea, CIS, has slipped by $1 per tonne over the week, and was calculated at $392 per tonne on February 4 amid weakening scrap prices.And Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix),...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe updated mineral resource estimate (MRE) puts the combined Kamoa-Kakula project at 423 million tonnes grading 4.68% copper, at a 3% cut off. At a 1% cut off, the resource figure jumps to 1.Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesOn one island is the big but abandoned Panguna copper and gold mine closed prematurely by an arm of Rio Tinto in 1989.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesGlencore announced it had appointed former China Molybdenum International CEO Kalidas Madhavpeddi as an independent non-executive director, with chairman Tony Hayward saying the company looking forward to benefitting from his experience and insights, which included substantial business dealings in the DRC.The company maintained its...Read More
The ferrous scrap export market in the United States is facing more downside with East Coast docks continuing to adjust their buying prices downward in anticipation that the next sale will be lower.Late last month, an East Coast exporter sold 15,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $267.50 per tonne and 15,000 tonnes of shredded scrap at $272.50 to Turkey - and the next...Read More
Stainless steel scrap prices in the United States have stabilized due to serious shortages of scrap."With nickel about the same, the tight supply situation is creating a very slight uptick in 300-series stainless prices," one dealer source said."The lack of supply is the leading force of prices remaining firm to up slightly," a second dealer said.While demand has not really improved at the steel m...Read More
A broad base of markets are rebounding after China's move to boost liquidity and stabilize the market convinced many investors that the measures being taken will help cushion the economic impact of the Wuhan coronavirus (2019-nCoV). Given that it is still early days in terms of discerning the medium-term impact of the Wuhan coronavirus will have on the China and, indeed, the global economy, the ri...Read More
Turkish deep-sea scrap markets went quiet on Wednesday February 5 after cargoes from the United States and the Baltic Sea sent prices down by about $10 per tonne, sources told Fastmarkets.News of two fresh cargoes on Tuesday February 4, caused a $10.38-10.54 per tonne drop in Fastmarkets' daily scrap indices. The drop in prices was expected by market participants because of wea...Read More
Seaborne iron ore prices retreated on Wednesday February 5 while the market reacted to high steel inventories.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $81.31 per tonne, down $2.45 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $80.15 per tonne, down $2.45 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $82.54 per tonne, down $2.56 per tonne.58% Fe fines high-premium, cfr Qingda...Read More
The seaborne coking coal market regained some strength on Wednesday February 5, with a cargo of premium mid-vol hard coking coal fetching a higher price than a day earlier.Fastmarkets indicesPremium hard coking coal, fob DBCT: $150.69 per tonne, up $2.80 per tonnePremium hard coking coal, cfr Jingtang: $159.06 per tonne, down $1.07 per tonne Hard coking coal, fob DBCT: $127.01 per tonne, unchanged...Read More
The Asian scrap market is resting in a mid-week slump on Wednesday February 5 on the back of a string of Wuhan coronavirus-related fears.Shippers are now awaiting more announcements of mandatory quarantine periods - of up to 14 days - for vessels inbound to discharge ports.Key northern Vietnam port Hai Phong has stipulated that any vessels that have visited Chinese ports (excluding Hong Kong) in t...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 28 points in pre-opening trade.Index futures were virtually unchanged following release of economic news. Consensus for January ADP employment was 158,000 versus 202,000 in December. Actual was 291,000. Consensus for December U.S. Trade Deficit was $48.00 billion versus $43.10 billion in November. Actual was $48.9 bill...Read More
Global copper premiums were mostly unchanged in the week to Tuesday February 4, with broad illiquidity and macroeconomic risk-aversion a key headwind for spot demand, while an 11% drop in the London Metal Exchange copper price did not spark fresh buying interest.China's spot market barren amid logistics clamp Tenders are a key factor behind higher Southeast Asian premiums Strong availability tempe...Read More
Fears over a possible price slump for Chinese hot-rolled coil have led some traders to issue export offers that are significantly lower than those of mills.DomesticEastern China (Shanghai): 3,600 yuan ($514) per tonne, unchangedNorthern China (Tangshan): 3,270-3,300 yuan per tonne, widening downward by 30 yuan per tonneSellers in Shanghai kept their offers stable on Wednesday February 5, with trad...Read More
China's rebar prices held steady on Wednesday February 5 after several mills announced plans to cut production.Eastern China (Shanghai): 3,360-3,400 yuan ($480-486) per tonne, unchangedNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedAt least seven rebar producers in eastern China's Shandong province have started maintenance on their equipment due to manpower shortages and subdued de...Read More