Australian iron ore lump prices continued to rise on Tuesday July 3, while fines prices stayed rangebound.Metal Bulletin 62% Fe Iron Ore Index: $64.55 per tonne cfr Qingdao, up $0.01 per tonne Metal Bulletin 58% Fe Premium Index: $51.95 per tonne cfr Qingdao, up $0.03 per tonne Metal Bulletin 65% Fe Iron Ore Index: $91.50 per tonne cfr Qingdao, down $0.10 per tonne Metal Bulletin 62% Fe China Port...Read More
SHANGHAI, Jul 3 (SMM) – The nonferrous complex closed with mixed performances on Tuesday July 3. SHFE lead dropped 0.84%, nickel and aluminium dipped while zinc and tin nudged up and copper gained 0.18%.The ferrous complex fell across the board. Coke led the decreases with a loss of 1%. Coking coal edged down close to 1%, rebar lost 0.64% and hot-rolled coil and iron ore dipped.Copper:...Read More
SHANGHAI, Jul 3 (SMM) – Copper: LME copper broke support at the 60-week moving average last night to a low of $6,519/mt as US dollar jumped on robust manufacturing data. It recovered part of the losses to close at $6,571/mt, down $48/mt from the previous trading day. We see it test support at $6,500/mt in the short run with trading range today at $6,520-6,580/mt. The SHFE 1808 contract...Read More
Turkish steel mills have remained quiet in the deep-sea scrap markets, waiting for lower prices from suppliers due to falling values for finished steel and billet, sources said on Tuesday July 3.The mills in the country booked a number of deep-sea cargoes from the United States last week but fell quiet later in the week. The material in the cargoes was priced around $354 per tonne cfr for HMS 1&2...Read More
RAPAPORT... Sales of jewelry and other luxury items rose in greater Chinain May, driven by improved consumer sentiment and a higher rate of tourism toHong Kong, according to government sources. In China, retail sales of gold, silver and jewelry increased6% year on year to $3.05 billion (CNY 20.3 billion) for May, the NationalBureau of Statistics of China reported recently. Sales for the January-to...Read More
Prices for rebar in the United Arab Emirates were stable this week with demand being low for seasonal reasons, sources told Metal Bulletin on Tuesday July 3.Construction activity is at a very low level in the heat of summer, and demand is not expected to improve any time soon, sources said.Domestic rebarMajor rebar producers in the UAE rolled over their rebar prices again on June 29 and prices are...Read More
RAPAPORT... Israel Diamond Exchange (IDE) president Yoram Dvash hascalled for India to lower its 5% import duty on polished diamonds, claiming itrestricts trade between the two countries. "The tax makes it very difficult for Indian diamantaires whobuy polished goods in Israel, and for Israeli diamantaires who wish to tradewith their Indian counterparts," Dvash said Monday. He made the plea to Vija...Read More
RAPAPORT... Rio Tinto has launched an advertising campaign in India thatwill highlight a new range of fashion and bridal jewelry featuring Australiandiamonds sourced from its Argyle mine. The collections featured in the "As Real as You" campaign willbe available at 63 retailers across the nation, and will include designs usinguncut diamonds, known in India as chakri. The miner will track the ston...Read More
RAPAPORT PRESS RELEASE, July 3, 2018, New York ... Diamond market sentiment was positive in June after the Las Vegas shows demonstrated robust US jewelry demand. Suppliers held polished prices firm amid shortages in some categories and as high rough prices squeezed manufacturing profit margins. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds increased 0.8% in June. Prices strengthened in...Read More
RAPAPORT... A mob of 300 to 500 people overran Gemfields Group'semerald-exploration operations in Ethiopia on Friday, forcing staff members toflee. Employees, contractors and service providers at Web GemstoneMining (WGM) were safely evacuated to a town a two-hour drive away, the companyreported Monday. Two WGM team members suffered minor injuries, with the gemstoneproducer expecting both of them t...Read More
RAPAPORT... Stornoway Diamond Corporation has suspended operations atthe Renard mine in Canada due to a local forest fire.The blaze had reached within 100 meters of the mine's accessroad as of 6:30 a.m. Eastern Standard Time (EST) Monday, Stornoway said. It was also3.6 kilometers south of the Clarence and Abel Swallow Airport, whichserves the project site, though it was still 12.6 kilometers south...Read More
The US Midwest aluminium premium dropped for the third assessment in a row, as an ever-widening backwardation on the London Metal Exchange has pushed suppliers to offer at levels not seen since early April. American Metal Market's latest assessment of the US P1020 spot premium dropped to 20-20.75 cents per lb on Tuesday July 3, down from 20.5-21 cents per lb previously. The premium is now dow...Read More
(IDEX Online) - The Israel Diamond Exchange (IDE) has hosted an official visit of a high-level delegation from the State of Gujarat, India, where IDE President Yoram Dvash and Chief Minister Vijay Rupani spoke of the close connection between the diamond communities of both countries. Dvash and Rupani spoke about the growth and prosperity that the diamond trade brings to both sides, and discussed w...Read More
A summary of base metals premiums from across the globe for the week to Tuesday July 3.Please click...Read More
Comex copper prices were slightly lower on Tuesday July 3 morning in the US, with trade shallow ahead of the Fourth of July holliday.Copper for September settlement on the Comex division of the New York Mercantile Exchange inched down 0.10 cents or 0.1% to $2.9430 per lb. The contract now sits at its lowest point since August 2017.Base metals have...Read More
The latest metal markets news and price moves for the start of the North American day on Tuesday July 3.Base metals on the London Metal Exchange edged higher during morning trading, supported by a downtick in the dollar index, while turbulent trade relations between the United States and major economies continue to destabilize commodities.Here's how base metals prices looked at 11:56am London time...Read More
Base metals on the London Metal Exchange edged higher during morning trading on Tuesday July 3, supported by a downtick in the dollar index while turbulent trade relations between the United States and major economies continue to destabilize commodities. "London has seen a re-emergence of the systematic sell programs after the poor closes last night, where most [base metals] settled on the session...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday July 3*Copper -$89.71 (-601.00 yuan)Aluminium -$510.61 (-3,420.95 yuan) Zinc $12.81 (85.81 yuan) Nickel -$177.86 (-1,191.59 yuan) *Metal Bulletin calculates the physical arbitrage for import into China...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transactions: rebarRebarOman, export, rebar, traded at $615-620 per tonne cfr, theoretical weight, to the UAE.Oman,...Read More