RAPAPORT... Stargems sold nearly $50 million worth of rough diamonds ata tender in Dubai this month. A total of 577,000 carats of high-quality rough from acrossAfrica went on sale at the Dubai Diamond Exchange's Almas Towers, withmore than 500,000 of those originating from the Sacim mine in the DemocraticRepublic of Congo. More than 200 international buyers attended the sale,one of the larges...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Comstock Resources today tightened its grip on the Haynesville basin with a US$2.2 billion cash-and-stock deal to buy privately-held Covey Park.Robert Clarke, director, US Lower 48, at global natural resources consultancy Wood Mackenz...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Perhaps a false sense of security had crept in. Plentiful oil supply, carefully stewarded in 2019 by OPEC+ to get the market closer to balance, and moderate prices. Rising geopolitical tension,even around Iran, seemed a nebulous...Read More
(IDEX Online) - Thieves have stolen three diamond jewelry sets from the Dresden Green Vault. Each set consists of 37 parts each, leading to fears the thieves may try to break them up. Officials are still trying to establish how much was taken in the robbery.According to press reports, there is speculation that the thieves gained entry to the museum after disabling the alarm system by setting fire...Read More
CIS export billet prices continued to rise on Monday November 25 after several fresh bookings from last week came to light. However, some market participants said that buying activity had begun to slow since Wednesday because customers had booked significant volumes earlier in the week.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $384 per tonne on November...Read More
The global diamond industry will require a new narrative and a rebranding to secure its future, a new report has warned.The Dubai Multi Commodities Centre (DMCC) states in its ‘Diamonds Changing Forever’ report that the global industry is at a “major inflection point”.AdvertisementPrices are steadily decreasing, profitability is in decline and access to finance is restricte...Read More
China's hot-rolled coil prices slid on Tuesday November 26, with buyers not in a rush to restock amid rising supply.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($526-529) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,640-3,660 yuan per tonne, down 10-30 yuan per tonneA Shanghai-based trader said trading overall thinned on Tuesday, with losses in the futures mark...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The time is right for the mining industry to invest in new projects. The fundamentals are clear: we forecast supply gaps across a number of key commodities by 2028.Investors are understandably concerned that the mining industry will r...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Shockwaves from Tsingshan's new stainless steel hub in Indonesia are reverberating across South East Asia and beyond, according to Wood Mackenzie.“Competitively priced exports of Indonesian stainless product have provoked varyin...Read More
RAPAPORT... Gem Diamonds has recovered two diamonds weighing more than100 carats from its Let??eng mine in Lesotho. The miner found a 120-carat, high-quality, white, type IIa diamond onNovember 20, and a 125-carat, low-quality stone on November 19, it said. The stones are the ninth and 10th of that magnitude for the company so farthis year. It recovered five high-quality white stones and thre...Read More
Diversified miner Anglo American has become a member of ResponsibleSteel, a nonprofit organisation and the steel industry's first global, multi-stakeholder standard and certification programme.ResponsibleSteel covers the entire steel supply chain, from raw material supply through steel processing to use, reuse and recycling.AdvertisementIt provides a forum to build trust and achieve consensus...Read More
Turkish steel mills remained quiet in the deep-sea scrap markets on Tuesday November 26 with prices unchanged, according to market sources.Mills booked four deep-sea cargoes last week at steady prices. The bookings from the Baltic Sea region sold at $260 per tonne and $261 per tonne cfr for HMS 1&2 (80:20) throughout the week ended Friday November 22.Mills are still expected to book a few more...Read More
Seaborne iron ore prices fell back below $90 per tonne cfr China on Tuesday November 26 after reclaiming the mark a day earlier, amid losses in steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $89.30 per tonne, down $1.62 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $89.33 per tonne, down $1.62 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.71 per ton...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: pig iron, iron orePig iron United States,...Read More
Seaborne coking coal prices continue to trade in a range-bound manner, with participants keeping a close eye on the impact of the recent supply disruptions on market direction but not seeing them as major price drivers yet.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.70 per tonne, down $1.96 per tonnePremium hard coking coal, cfr Jingtang: $145.39 per tonne, unchangedHard...Read More
A coal mine worker was fatally injured at the Carborough Downs mine site in Queensland, Australia, on Monday 25 November, miner Fitzroy Resources said on Tuesday. All operations on the site have been suspended until further notice, it added."We are deeply saddened by this news and Fitzroy extends our deepest sympathies to the family, friends, and colleagues of the worker. The deceased is a long-te...Read More
Risk appetite should improve this week The latest reports about progress towards a US-China trade agreement suggest that a phase one deal is back on track. If history is a guide, interest in risk assets, including the base metals, should rebound while this remains the case. Equity markets have led the way so far. Aluminium: Looking for a short-term rebound Aluminium’s price action is demonstr...Read More
Room to rally again if risk appetite continues to improve Over the weekend, China appears to have reached a compromise position that could boost the probability of a 'phase one' trade deal with the US. China announced that it will raise penalties for intellectual property rights theft, meeting one of the many stringent demands from the US. Barring any further negative developments, risk appetite s...Read More
Aluminium With no sign of aggressive selling pressure, the LME aluminium price was able to produce a higher low on Monday November 25. Also, the metal closed positively though the limited upside momentum continues to indicate prices remain in consolidation mode from the recent low. Still, aluminium carries short-term upside risks, with the daily RSI and stochastic lines in oversold territory...Read More
In this week’s analysis, we discuss the main trends of the global copper market so far this year, based on the latest ICSG statistics. All the percentage changes discuss are on a year-on-year basis, unless stated otherwise. Refined market balance The ICSG estimates that the refined copper market was in an “apparent” deficit of 330,000 tonnes in January-August 2019, compared with a s...Read More