RAPAPORT... Gemfields auctioned 12 parcels of rubies backed by G? 1/4 belinGem Lab's Provenance Proof program, the first blockchain-enabled rubies theminer has sold, it said Tuesday. "[The stones] have become the first Gemfields rubies ever topioneer the use of blockchain in facilitating improved supply-chaintraceability," Adrian Banks, Gemfields' managing director of product and sales,expla...Read More
The United States nickel briquette premium hit a fresh multi-month low in the week to Tuesday December 17, with aggressively low offers driving deals lower amid seasonal destocking, while premiums elsewhere were stable.China full-plate premiums stable; potential arbitrage loss dampening spot consumption and capping local premiumsEuropean premiums flat; fresh inflows of material into LME system fai...Read More
Shanghai copper cathode premiums dropped to a six-month low in the week ended Tuesday 17, while in Europe spot interest was muted as market participants eyed lower annual premiums for 2020 and in the Unites States the market remained flat amid poor demand.Shanghai deliverable premium assessments at six-month low EQ premiums trading lower in Shanghai Some sellers start to offer annual premiums in E...Read More
RAPAPORT... Alrosa will help launch a blockchain-based provenance program offering Chinese consumers greater transparency when buying jewelry via WeChat. The e-commerce program, apartnership with blockchain platform Everledger and Chinese Internet giantTencent Holdings, will be available to nearly a billion WeChat users, thecompanies said Monday. WeChat, which is owned by Tencent, is a m...Read More
Anglo American has announced that the value of rough diamond sales for De Beers’ tenth cycle of 2019 amounted to $425-million.This is an improvement of $25-million on the ninth sales cycle, which saw De Beers rake in $400-million.AdvertisementCEO Bruce Cleaver said that the company saw “further signs of steady demand” during the cycle following continued polished diamond price st...Read More
Fastmarkets MB has corrected its weekly assessment for its Zinc SHG 99.995% ingot premium, fca Singapore, which was published incorrectly on Tuesday December 17 as a result of an input error.Fastmarkets' weekly premium assessment for the Singapore FCA zinc ingot premium was originally published at $110-120 per tonne - it has now been...Read More
RAPAPORT... Petra Diamonds has appointed Peter Hill as non-executivechairman, succeeding company founder Adonis Pouroulis, who is stepping down,the company said Tuesday. Hill is currently non-executive chairman of geotechnicalcontractor Keller Group and of building-products company Volution Group. Hewill begin with the miner as non-executive director and chairman-designate onJanuary 1, and will be...Read More
Global industrial company Metso is set to deliver high-performance crushing and material handling equipment to global diamond miner De Beers Group’s Venetia mine, in Limpopo.The Venetia mine is reported to produce an output of about four-million carats, making it one of South Africa’s mineral resource flagships.AdvertisementMetso will deliver two primary jaw crushers and a number of fe...Read More
US Galvalume prices have rebounded along with a recovery in the broader flat-rolled steel markets.Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US rose to $36.50 per hundredweight ($730 per short ton) on Tuesday December 17, up 5.8% from $34.50 per cwt in mid-November and 2.8% from $35.50 per cwt in mid-October.Lead times are approximately six to 10 weeks, acco...Read More
London-listed Petra Diamonds on Tuesday announced the appointment of mining engineer Peter Hill as nonexecutive director and chairperson to succeed founder and chairperson Adonis Pouroulis on March 31.Hill, currently chairperson of the world’s largest geotechnical contractor Keller Group and of building products company Volution, will be chairperson designate from January 1.AdvertisementHe b...Read More
The United States Department of Justice has closed its anti-trust review of Tenaris' acquisition of Ipsco Tubulars, clearing the way for the completion of the purchase from Russia's TMK, Tenaris said in a statement on Tuesday December 17."Tenaris expects to be able to consummate the transaction shortly," the Luxembourg-based company said in its statement. In March, Tenaris agreed to buy Ipsco...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa has generated a further A$9.3-million in revenues following its latest diamond tender.The Africa-focused miner on Monday said that 3 274 ct of diamonds from its Lulo mine, in Angola, was sold for gross proceeds of A$5-million, representing an average price per carat of A$1 517.AdvertisementA further 6 617 ct of diamonds from the Mothae mine, in...Read More
European distributors of flat steel products reported a 3.6% year-on-year drop in shipment volumes in January-October 2019, Eurometal said this week.And multi-product distributor shipments in the region fell by 4.8% year-on-year in the first 10 months of this year, Eurometal said, with declines reported for most products and only rebar registering an...Read More
Domestic transaction prices for hot-rolled coil in Southern Europe increased over the week, supported by reduced availability of domestic material and rising import offers, sources told Fastmarkets on Wednesday December 18.Domestic pricesFastmarkets' weekly price assessment for steel hot-rolled coil, domestic, ex-works Southern Europe, was ?,?430-440 ($479-491) per tonne on December 18, up by ?,?1...Read More
Broader markets are generally weaker this morning, Wednesday December 18, with equities in Asia mainly lower, metals mixed and havens little changed.In Europe, fear that a hard Brexit has not vanished is weighing on sentiment, especially in sterling, while a lack of detail on the United States-China trade deal has made it difficult for markets to see further follow-through buying. Equities in Asia...Read More
(Updates with closing prices) By Peter Hobson LONDON, Dec 18 (Reuters) - Copper prices dipped from theprevious session's 7-month high on Wednesday as data showingrecord Chinese production of the metal helped persuade investorsto pause for breath after a rapid rally.Benchmark copper on the London Metal Exchange (LME)did not trade in closing rings, but was bid down 0.5% at $6,172a tonne after touchi...Read More
Turkish steel mills made no deep-sea bookings for a second day, while prices remained firm, sources said on Wednesday December 18.Turkish steel mills made no deep-sea bookings for a second day, while prices remained firm, sources said on Wednesday December 18.At the beginning of the week, two Baltic Sea cargoes were sold at $299-300 per tonne cfr for HMS 1&2 (80:20).Some suppliers were heard offer...Read More
Seaborne prices for hard coking coal rose in the cfr China segment on Wednesday December 18 while those for premium products were largely stable, with support coming from a pickup in China's domestic market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $135.67 per tonne, up $1.51 per tonnePremium hard coking coal, cfr Jingtang: $147.33 per tonne, unchangedHard coking coal, fob DBCT: $122....Read More
Seaborne prices for mid-grade iron ore came under some pressure on Wednesday December 18, with steelmakers in China continuing to show a preference for materials sold at Chinese ports.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.20 per tonne, down $0.87 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.29 per tonne, down $0.87 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93...Read More
Anglo American has begun iron ore blending operations at a port in China, following the lead of other global miners.The miner has held a ceremony to celebrate completion of its first batch of "AAAF Blended Sinter Feed" at the port of Caofeidian in northern China's steel hub of Tangshan city, Fastmarkets learnt on Tuesday December 17.AAAF stands...Read More