RAPAPORT... Rough-diamond prices are too high, and reducing them is a must.Not only is such a move necessary to ensure profitability formanufacturers, it would also raise market sentiment, which has beenuncharacteristically weak for a first quarter.In the long term, miners would gain from a correction as well, as itwould stimulate demand and prevent a market freeze that is inevitableif rough price...Read More
RAPAPORT... Phillips has appointed Graeme Thompson worldwide head ofjewelry, as it works to expand the recently created department internationally. Thompson, who will be based at the company's Hong Kongoffice, has been tasked with creating a strategy for the auction house's internationalbusiness. He will be responsible for developing a global team in New York,London, Hong Kong and Geneva. He...Read More
Backtracking from a promise made last year that for "safety" reasons the identity of its customers will not be revealed, the state-controlled firm Namdia announced it had selected the 16 firms that will buy diamonds from Namdia from 2019 to 2021. The Namibian buyers are: Schachter and Namdar Namibia; DYS Diamond Manufacturer Namibia; Tate Diamonds and Pluczenik Diamond Company. Four Belgian compan...Read More
Steel H-beam prices in Northern and Southern Europe dropped in the past week on the back of falling feedstock costs and weaker trading conditions, sources told Fastmarkets on Wednesday April 10. Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe widened downward by ?,?5 per tonne to ?,?595-635 ($670-716) per tonne delivered on Wednesd...Read More
The London-based jeweler Lawrence Graff paid an unprecedented $8.75 million for the 13.33 carat pink rough diamond that was found in February of this year by Gem Diamonds in its Letseng mine in Lesotho. The amount paid by Graff constitutes a record price per carat paid for a diamond from the Letseng mine. Meanwhile, the Letseng mine has acquired a famed reputation for some of the world's most ex...Read More
The price range for rebar produced and delivered in Northern Europe has remained unchanged week on week amid continued cautious buying activity among end-users, sources told Fastmarkets on Wednesday April 10.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?535-550 ($603-620) per tonne delivered on Wednesday, unchanged from April 3."I don't think the price will rise...Read More
Cyclone Idai, which hit Malawi, Mozambique and Zimbabwe in March of this year, has also left its mark on Zimbabwe's diamond mining projects. The cyclone claimed at least 268 lives in Zimbabwe and left a trail of destruction in its wake. ZCDC chief executive Dr Moris Mpofu told The Sunday Mail Business last week that the company was now "regrouping to recover from the aftermath of Cyclone Idai and...Read More
Eastern promise for PolarXSPONSOREDpolarxOrtonowski said in the event that copper concentrate flows from mines in Democratic Republic of Congo to smelters in Zambia were reduced, it would cut the amount of sulphuric acid produced by the smelters shipped to SXEW plants in both countries, potentially impacting their ability to produce copper cathodes."The 5% import duty will increase raw material co...Read More
The stainless steel scrap market in the United States continued to inch up slightly for the 300-series grades with buying becoming more difficult due while participants wait for higher prices."Seems like the market is looking for some more push in either direction before moving again," one US dealer source said."Quiet buying week with people at [the Institute of Scrap Recycling Industrie...Read More
Eastern promise for PolarXSPONSOREDpolarxThe panel discussion looked at how a October 2018 position paper by the London Metals Exchange (LME) about responsible sourcing could be implemented.Read More
Turkish steel mills continued to make deep-sea scrap purchases at a slow pace this week, while prices were going down, sources said on Wednesday April 10.A steel producer in the Marmara region booked a United States cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $306 per tonne cfr, 6,000 tonnes of shredded at $311 per tonne and 2,000 tonnes of bonus at $316 per tonne cfr, late on April 9.Th...Read More
Eastern promise for PolarXSPONSOREDpolarx"Productora is half a mine.Read More
The vice president for marketing materials at BHP, Vicky Binns, has decided to leave the company after 10 years, industry sources said. Binns, a 35-year veteran in the industry, will step down from her role in Singapore at the end of September and return to Australia, where she had previously worked for the Macquarie Group and Merrill Lynch. She...Read More
Eastern promise for PolarXSPONSOREDpolarxFitch produces an ESG exposure score with elements rated on a scale of one-to-five where three is neutral in that a risk is minimally relevant or it is well-managed, and four and five are relevant toRead More
Seaborne iron ore prices continued to slide on Wednesday April 10, while the seaborne spot market remained subdued with no open tenders being issued by the major miners.MB 62% Fe Iron Ore Index: $94.61 per tonne cfr Qingdao, down $0.24 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.73 per tonne cfr Qingdao, down $0.24 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.57 per tonne cfr Qingd...Read More
Uncertainties continue to linger in the seaborne coking coal spot market, with most participants still keeping away from the premium hard coking coal segment due to a divergence between offers and bids.While offers for premium hard coking coal have stayed largely stable at $200-204 per tonne cfr China, bids from end users have emerged around $190-195 per tonne cfr, various sources told Fastmarkets...Read More
Eastern promise for PolarXSPONSOREDpolarx"We are implementing a successful cocktail of electrification," he said.Read More
Japanese ferrous scrap is expected to be more competitive against materials from the United States' west coast after the Kanto Tetsugen tender price plunged on Wednesday April 10, market sources told Fastmarkets MB.The cooperative of scrap dealers in Japan's most-industrialized region concluded its April export tender of H2-grade scrap at ?23,300 ($209) per tonne fas Tokyo Bay, down ?1,710 per t...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Index futures were virtually unchanged following release of the March Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.2% in February. Actual was up 0.4%. Excluding food and energy, consensus for the March Consumer Price Index was an increase of 0.2...Read More
China's domestic rebar prices dropped slightly on Wednesday April 10 due to softer demand. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($596-603) per tonne, down 50-70 yuan per tonneNorthern China (Beijing): 3,940-3,980 yuan per tonne, down 10-20 yuan per tonneBuyers have been cutting their procurement rates since Tuesday due to recent price increases. They continued to limit their purchas...Read More