American Metal Market is proposing to launch a weekly assessment of a US aluminium duty-unpaid P1020 premium, to be assessed once per week on Tuesday.Market participants have expressed interest in a duty-unpaid premium (DUP) assessment for the US Midwest as a reference tool following recently imposed import duties, although they also noted that liquidity in this market is currently limit...Read More

Comex copper prices saw a modest recovery in the US morning on Thursday July 12 after setting a fresh yearly low yesterday on news of fresh import tariffs on China. Copper for September settlement on the Comex division of the New York Mercantile Exchange recovered 3.85 cents or 1.4% $2.7820 per lb. Pressured by a surprise announcement on Wednesday morning that the United States plans to issue furt...Read More

Polished trading seasonally quiet. Asiandemand driving activity during US vacation period. Chinese buyers shifting tolower colors amid yuan currency devaluation (-4% since June 1 to CNY 6.67/$1).Weaker yuan will also impact tourist jewelry shopping. Dossiers selling well,with good orders for 0.50 ct., D-M, VS-SI, RapSpec A2+ diamonds. Polishedsuppliers maintaining steady prices after rough-price h...Read More

Sentiment down somewhat as rupee currencydevaluation (-7% since Jan. 1 to INR 68.8/$1) affects local transactions.Buyers cautious due to higher polished prices and weaker exchange rate.Suppliers maintaining prices with slightly lower polished production. Steadyinterest in 1 ct., J-L, SI1-I2 diamonds. Rise in availability of 0.50 ct., D-H,IF-VS stones. RoundRead More

State-owned PT Indonesia Asahan Aluminium (PT Inalum) will become a 51% shareholder in Grasberg, the world's second largest copper mine, buying shares from Rio Tinto and Freeport-McMoRan in a deal totaling $3.85 billion, Rio Tinto and Freeport-McMoRan said on Thursday July 12. Rio Tinto has agreed to sell its 40% stake in Grasberg for $3.5 billion, while Freeport will divest a portion of its inter...Read More

RAPAPORT... Rio Tinto will offer a 3.14-carat, vivid pink diamond at its2018 tender, the largest stone of its color in the history of the annual salesevent.  The emerald-cut Argyle Alpha (pictured, third from left) is one of 63 rare pink, red and violetdiamonds -weighing a combined 51.48 carats - featuring in this year's ArgylePink Diamonds Tender. It is part of a collection of six "hero" dia...Read More

The arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday July 12*Copper -$48.01 (-321.23 yuan) Aluminium -$453.56 (-3,034.67 yuan) Zinc $51.75 (346.27 yuan) Nickel -$331 (-2,214.59 yuan) *Metal Bulletin calculates the physical arbitrage for import into...Read More

RAPAPORT... An employee at Alrosa's Udachny mine died Wednesday when explosives went off 580 meters below ground.The incident occurred while a worker was planting explosives inside the underground mine in preparation for blasting works. The victim was 47 years old, the Russian mining company told Rapaport News. Mine operators received reports of an explosion at 5:26 am local time, Alrosa said. Res...Read More

(IDEX Online) - Sarine Technologies Ltd held a celebratory event to mark the official opening of the Sarine Technology Lab in Mumbai, India. The event was attended by Sarine customers, diamond professionals and trade press members despite the seasonal floods, Sarine said. The audience enjoyed a presentation about the Sarine Lab and the changes it brings to the industry, given by Sarine Group CEO...Read More

The University of Pretoria (UP) will be hosting a short course on ‘Diamond Exploration and their Primary and Secondary Sources’, from October 23 to 26. The internationally recognised short course will be led by Tsodilo Resources nonexecutive director and geologist Dr Mike de Wit and resource consultant and geologistDr John Bristow.Advertisement The diamond exploration and evaluation co...Read More

(IDEX Online) - The Israel Diamond Exchange's (IDE) technological incubator Diamond Tech, has signed an agreement to host Israeli start-up Inova Diamonds Ltd. The company develops technological solutions for online marketing of diamonds and jewelry using augmented reality (AR). The new technology being developed will enable customers to virtually "try on" diamond rings and jewelry using computeri...Read More

Turkish domestic rebar and wire rod prices have gone down over the past week while the value of the country's lira weakens and scrap costs fall, sources said on Thursday July 12.Metal Bulletin's weekly price assessment for domestic rebar was $535-550 per tonne ex-works, down from last week's $550-560 per tonne.The domestic rebar price in the Istanbul region was $550-560 per tonne ex-works on Thurs...Read More

(IDEX Online) - The World Federation of Diamond Bourses (WFDB) has announced that former Dubai Diamond Exchange (DDE) President Peter Meeus will take over as head of its World Diamond Mark (WDM) programme. Meeus is a diamond industry veteran who served as President of the DDE from 2009 to 2018 and was Managing Director of the Hoge Raad voor Diamant (HRD), now the Antwerp World Diamond Centre, fro...Read More

(IDEX Online) - Firestone Diamonds plc, the diamond producer with operations focused in Lesotho, has announced that Paul Bosma, the company's CEO from 1 July, has been appointed to the Board with immediate effect.  Paul Bosma, aged 50, was previously the General Manager of Liqhobong Mine and currently does not hold any directorship positions. Former CEO Stuart Brown has resigned from th...Read More

Turkish rebar and wire rod export prices have fallen over the past week because of sluggish demand and weakening prices for steel scrap and billet, sources said on Thursday July 12.Metal Bulletin's weekly price assessment for rebar exports out of Turkey was $540-545 per tonne fob on an actual weight basis, down from last week's $545-555 per tonne fob.Turkish steel producers have...Read More

The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBillet Iran,...Read More

The DrillSafe initiative will host its inaugural Drill Safe Drill Rig & Safety Innovation Forum at the Glen Hove Conference Centre, in Johannesburg, on July 20. The forum will explore innovations in drilling equipment and the exploration work environment, explains DrillSafe founder and Colin Rice Exploration & Training MD Colin Rice.DrillSafe was first launched in 2013 to distribute accide...Read More

Imported steel billet prices decreased this week in Egypt with lower offers heard in the market, but domestic rebar prices remained unchanged, sources told Metal Bulletin on Thursday July 12.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on July 12 was unchanged at E ?12,525-12,528 ($698-699) per tonne ex-works.The country's major rebar producer, Ezz...Read More

An independent evaluation of a package of diamonds recovered from TSX-V-listed Tsodilo Resources’ BK16 project, in Botswana, has yielded a valuation of, on average, $197.68/ct.The package comprised two parcels totalling 224 diamonds and a total weight of 34.35 ct.AdvertisementIt was evaluated by licensed diamond dealer RD Ferraris of QTS Kristal Dinamika.The average value of the larger diamo...Read More

The world's largest steelmaker ArcelorMittal has announced higher prices for its coil products in Northern Europe, market sources told Metal Bulletin on Thursday July 12.The target for hot-rolled coil is ?,?580 ($679) per tonne ex-works in Northern Europe.Metal Bulletin's weekly price assessment for domestic HRC in Northern Europe was ?,?555-565 per tonne ex-works on July 11, reflecting "work...Read More