China's rebar prices moved up on Monday September 23 after news broke that a few steelmaking regions would restrict production from this week. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($516-520) per tonne, up 50 yuan per tonneNorthern China (Beijing): 3,570-3,610 yuan per tonne, up 20 yuan per tonneLocal authorities in Tangshan are tightening steelmaking restrictions ahead of the countr...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Competitive prices of Russian cargoes softened hot-rolled coil prices in Asia over the past week, though the rate of decline are likely to slow down from this week with Indian offers gaining some stability, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HRC import, cfr Vietnam - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold i...Read More
Offer prices for Turkish rebar to Singapore fell again in the week to Monday September 23, due to weak scrap prices....Read More
Import prices for steel slab in Southeast Asia and East Asia breached the psychological floor of $400 per tonne for the first time since July 2017 on Monday September 23 amid weakness in the downstream hot-rolled coil market.A producer in the Commonwealth of Independent States sold 40,000 tonnes of slab to Southeast Asia at $400 per tonne cfr during the week to Monday.After the transaction at $400...Read More
RAPAPORT... BlueRock Diamonds, which owns the Kareevlei mine in SouthAfrica, has sold a 10.6-carat rough diamond for $103,000 at its Septembertender. The stone, fetching $9,571 per carat, is the sixth diamond the miner has sold this yearfor more than $50,000. Those goods have brought in $600,000 combined. "The recovery and sale of yet another high-value diamondcontinues to underpin the...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...Read More
RAPAPORT... The Indian government has lowered the rate of goods and services tax(GST) for certain diamond work in a move that will help buoy the struggling sector, the nation's Gem & Jewellery Export Promotion Council (GJEPC) said. GST on diamond "job work" - manufacturing or otheractivities that a company outsources to a third party, such as diamond cuttingor jewelry making - will drop t...Read More
(IDEX Online) - Former Diamond Trading Company group sales operations CFO Richard J. Whitby has joined ALTR Created Diamonds as CFO. Whitby spent more than a decade working for De Beers. "Lab-grown diamonds are a major innovation that is breathing new life into the diamond industry, and I look forward to applying my expertise to the future of this field at this exciting time," Whitby said in...Read More
(IDEX Online) - The Indian government has announced a 3.5-percent cut in the Goods and Service Tax (GST) on work related to diamonds to 1.5 percent. The move is an attempt to shore up the ailing diamond industry.According to the Business Standard, the cut is expected to release Rs 1,500 crore ($212 million) in blocked working capital into the pipeline. The government made similar cuts for the...Read More
(IDEX Online) - The World Federation of Diamond Bourses (WFDB) Presidents Meeting kicks off in Dubai today. Besides the regular business of the WFDB and the International Diamond Manufacturers Association (IDMA), there are special sessions on lab-grown diamonds and blockchain technology planned for the meeting.The "Lab-Grown Diamonds: A Call for Action," panel will feature Israel Diamond Exchange...Read More
Aim-listed BlueRock Diamonds has sold a 10.6 ct diamond for $103 000.This is the sixth diamond sold for more than $50 000 this year. Together, the six diamonds have generated revenues of $600 000.AdvertisementBlueRock executive chairperson Mike Houston says the sale of another high-value diamond continues to “underpin the increasing potential” of the Kareevlei mine, in K...Read More
Look beyond market approach to project valuations: van ZylLeadershipWhite Gold turns heads as exploration steps up a gearSPONSOREDwhite gold corpSilver Mines times Bowdens to perfectionSPONSOREDsilver mines limitedPoster South Africa mine regeneration on trackSPONSOREDorion mineralsAfter paying Cortadera's vendor $2 million in July, Hot Chili will now hand over a further $3 million, with another $...Read More
Turkish domestic scrap prices have gone down over the past week in response to the downturn in imported scrap values, sources said on Monday September 23.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,340-1,450 ($233-252) per tonne on Monday, down from last week's TRY1,400-1,575 per tonne.Following the decline in imported scrap values,...Read More
Seaborne iron ore prices increased on Monday September 23 following steel market gains, amid speculation there will be further restrictions on steelmaking in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.12 per tonne, up $1.56 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $94.51 per tonne, up $1.56 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.38 per t...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 transactions: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at the December average of Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao, and another 62% Fe low-alumina index at a premium...Read More
Faced with high and increasing emissions costs during a period of challenging market conditions, the steel industry is driving a change toward carbon neutral and fossil-fuel-free steel production in a bid to evolve and stay afloat.Many European steel producers have reported significant falls in profits in recent results due to weaker demand for steel during an economic downturn, the disruption of...Read More
Trading activity for seaborne coking coal was muted on Monday September 23, with market participants awaiting fresh offers.Premium hard coking coal, fob DBCT: $128.19 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $154.98 per tonne, unchangedHard coking coal, fob DBCT: $122.50 per tonne, unchangedHard coking coal, cfr Jingtang: $132.76 per tonne, unchangedLow-vol PCI, fob DBCT: $98.94...Read More
Key data from the pricing sessions in London and Shanghai in the week ending Friday September 21.ChinaKey drivers The price paid for silicon in China decreased in the week to September 21 after suppliers cut offer prices, with one deal reported done at $1,370 per tonne.The weak domestic market in China provided another headwind to the export market. Some domestic refiners sold grade-553 silicon at...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 2 points in pre-opening trade.U.S. steel stocks and its related ETF are expected to open lower after JP Morgan downgraded AK Steel , Nucor, Steel Dynamics, Commercial Metals and U.S. Steel and lowered their target prices.Nvidia was unchanged at $172.63 despite an increase in target price by SunTrust to $216 from $210....Read More