(IDEX Online) - The GIA will offer demonstrations of the GIA iD100TM gem testing device that distinguishes natural diamonds from synthetics and diamond stimulants at the Baselworld show in Switzerland from March 22-27. It will be the first time that the GIA iD100TM gem testing device has been demonstrated at a trade show in Europe. This device uses advanced spectroscopic technology to disti...Read More
RAPAPORT... India's Central Bureau of Investigation (CBI) has arrestedHasmukh Shah in its ongoing investigation into Winsome Diamonds, Reuters reportedMonday. Shah is a former director and authorized signatory ofForever Precious Jewellery and Diamonds, a subsidiary of the Winsome Diamondsgroup. Both companies have been accused of defaulting on more than $939 million(INR 61 billion) in credit provi...Read More
JOHANNESBURG (miningweekly.com) – The “exceptional quality” 910 ct D-colour Type IIa diamond recovered from LSE-listed Gem Diamonds’ Letšeng mine, in Lesotho, in January, achieved a price of $40-million on tender in Antwerp, on Monday. Reflecting its significance, the diamond, which is the fifth-largest gem-quality diamond ever recovered, has been named the Leso...Read More
(IDEX Online) - Gem Diamonds announced that the exceptional quality 910 carat D color Type IIa diamond recovered from the Let??eng mine in January was sold for $40 million at tender in Antwerp on 12 March. Reflecting its significance, the diamond, which is the fifth largest gem quality diamond ever recovered, has been named The Lesotho Legend, the miner said. Clifford Elphick...Read More
Lead was the strongest performer on the London Metal Exchange on Tuesday March 13 - closing 2.2% higher.8,000 tonnes of lead was freshly cancelled in Antwerp this morning giving fresh support to prices while stocks tighten once again. LME warrants are also tightly held with one entity holding 30-39% of warrant positions."Lead is carrying out some much needed base-building after breaking below $2,4...Read More
VANCOUVER (miningweekly.com) – Explorer Diamcor Mining has launched a nonbrokered private placement worth C$5-million in an effort to address the insufficient recoveries of water from the settling dams at its Krone-Endora at Venetia project, in South Africa's Northern Cape province.The TSX-V-listed miner is finalising installation of a paste thickening plant and associated operational eq...Read More
(IDEX Online) - Russian diamond mining giant ALROSA said it had prepaid $450 million of bank loans. ALROSA made an early repayment of a $250 million loan from Rosbank, and a $200 million portion of the existing Raiffeisenbank loan, both raised in December 2017. The repayments reduce its debt by more than 27% to $1.17 billion. The bank loans were repaid with the cash proceeds r...Read More
Movements in flat steel import prices in the United Arab Emirates and Saudi Arabia varied by commodity this week but overall demand was still not strong, sources told Metal Bulletin on Tuesday March 13.UAEHot-rolled coil (HRC) was being offered to the UAE at $620-630 per tonne cfr from China and at $640-650 per tonne cfr from India, while buyers were bidding $620-630 per tonne cfr.Metal Bulletin's...Read More
The Turkish steel scrap market remained quiet on Tuesday March 13, with the mills in the country holding back from deep-sea scrap purchases since the end of last week.The mills stepped back from the market after the Section 232 tariffs were officially signed in the United States, imposing a 25% import duty on all steel products. The Turkish mills are now watching the market to see what direction i...Read More
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Price slide continues as SHFE stocks...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as s...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
The latest metal markets news and price moves to start the North American day on Tuesday March 13. Base metals prices on the London Metal Exchange edged higher during morning trading, with most metals recovering from Monday's lull."The LME complex is a mixed bag with zinc and nickel finding some [arbitrage]-related buying and aluminium [finding] some light consumer demand to help lift [prices] off...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Index futures were moved higher following release of the February Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.2% versus a revised gain of 0.5% in January. Actual was an increase of 0.2%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of...Read More
Aluminium Aluminium continues to trade within a downtrend channel, but...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.P...Read More
SHANGHAI, Mar 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell to 89.91 following the weak performance of monthly average hourly earnings in the US for February.Base metals edged down from highs across the board. LME aluminium dropped over 1% to a three-month low as China’s winter production limitati...Read More
SHANGHAI, Mar 13 (SMM) – The Shanghai zinc spot market saw less trading today as the 0# common brand zinc traded at a discount of 90-80 yuan/mt, SMM learned.The Shuangyan brand traded at a discount of 30-20 yuan/mt, and 1# zinc traded at 24,980-25,060 yuan/mt at noon. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to ac...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Tuesday March 13.Base metals traded on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Tuesday. Zinc was the only metal to witness any gains, while nickel prices edged downward following their rally on Monday with negative sentiment stemming from a weaker do...Read More