RAPAPORT... The US diamond and jewelry industry is facing the possibility of higher tariffs on goods from China as the trade warescalates.The Trump administration has proposed a levy of up to 25% on products from China worth a total of $300 billion, the US Trade Representative (USTR) announced on May 9. Raw materials and accessories used in the jewelry trade are among the 3,805 items on the l...Read More
There will a changer of the guared Alan Lowe, founder and owner of EGL South Africa (EGLSA) announced he is retiring from his position as Managing Director of EGLSA Lowe opened his first EGL diamond grading laboratory in Johannesburg in 1980. In 1996. EGL South Africa expanded into the grading of colored gemstones and at the same time he opened the EGL College of Gemmology that provided gemologica...Read More
PERTH (miningweekly.com) – A 130 ct gem quality diamond has been recovered from the Lulo diamond project, in Angola, owner Lucapa Diamond Company reported on Thursday.The diamond is the thirteenth stone of more than 100 ct to be recovered to date, and the second so far in 2019, Lucapa told shareholders.AdvertisementThe new 130 ct stone adds to the current inventory of high-value large Specia...Read More
RAPAPORT... Stornoway Diamond Corporation fell deeper into the red inthe first quarter, as rough prices softened, it saidMonday. The miner recorded a net loss of CAD 48.4 million ($36million) for the three months ending March 31, in comparison to a loss of CAD11 million ($8.2 million) during the same period last year. "A continued downward pressure on the market price for roughdiamonds has inhibi...Read More
A diamond mining company has filed a R29.9-billion claim against President Cyril Ramaphosa and his government as a near three-decade-long dispute over expropriated diamond mining rights in Lesotho reaches South African courts again.Josias van Zyl, MD of Swissbourgh Diamond Mining, is arguing that South Africa is liable to pay him damages for, among other reasons, its "unconstitutional" a...Read More
RAPAPORT... Cartier and Van Cleef & Arpels have filed a lawsuitagainst a Florida jeweler, claiming willful infringement on a number of theluxury jewelers' famous trademarked collections. Scott King Inc., registered for business as Florida Diamond Brokers andKing Jewelers, allegedly sold imitations of jewelry belonging to theRichemont-owned divisions, the May 6 suit, filed in the US Distri...Read More
Turkish rebar export prices have gone down over the past week because of the limited levels of current demand, sources said on Thursday May 16.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $450-460 per tonne fob on an actual weight basis on May 16, down from last week's $460-470 per tonne.The...Read More
China's domestic hot-rolled coil prices rose on Thursday May 16, but pessimism continued to cast a pall over the market with trading activity remaining persistently thin.DomesticEastern China (Shanghai): 4,000-4,010 yuan ($582-583) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,890-3,900 yuan per tonne, up 20 yuan per tonneSpot prices rose after mills raised their offers in response to...Read More
Debmarine Namibia, a joint venture between diamond miner De Beers and the Namibian government, has approved the construction of a new custom-built diamond recovery vessel, which will become the seventh such vessel in Debmarine’s fleet.The vessel, which will be built at a cost of $468-million, will start production in 2022 and is expected to add about 500 000 ct/y of production capacity to De...Read More
China's domestic rebar prices rose further on Thursday May 16 on gains in the billet and futures markets, though trading activity fell in response to the increases.Domestic Eastern China (Shanghai): 4,020-4,040 yuan ($585-587) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,950-4,000 yuan per tonne, up 20 yuan per tonneMills raised their offers following the gains in the futures mark...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade III...Read More
JOHANNESBURG – A plan to build Zimbabwe’s biggest platinum mine at a cost of about $4-billion is floundering because a military stake in the project has deterred potential backers, according to people familiar with the funding discussions.The African Export-Import Bank has the mandate to raise money for the mine, a joint venture between Russian and Zimbabwean investors. While the bank...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, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Altech ticks boxes on path to production SPONSOREDaltech chemicalsDepartment of Interior assistant secretary for land and mineral management, Joe Balash announced the renewal following a 41-day public review and comment period stating, "mining on public landsRead More
White Gold Corp a force in Yukon as exploration drive reaps dividendsSPONSOREDwhite gold corpQuality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumAltech ticks boxes on path to production SPONSOREDaltech chemicals"It's not regulation that fails, it's [the industry] as engineers and operators"SPONSOREDsrk consultingNet profit for 2018 was US$16.3 million, u...Read More
Seaborne iron ore prices jumped closer to the $100-per-tonne-cfr mark while setting a five-year high on Thursday May 16 amid bullish market sentiment.MB 62% Fe Iron Ore Index: $99.21 per tonne cfr Qingdao, up by $2.26 per tonne.MB 62% Fe Pilbara Blend Fines Index: $97.40 per tonne cfr Qingdao, up by $1.77 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $102.80 per tonne cfr Qingdao, up by $4.27 pe...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures moved slightly higher following release of U.S. economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 220,000 versus 228,000 last week. Actual was 212,000. Consensus for April Housing Starts was 1.205 million units versus a revised 1.168 million units in Mar...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 oreRio Tinto, Global Ore, 170,000 tonnes of 62% Fe Pilbara Blend fines, traded at $97.40 per tonne cfr China, laycan...Read More
The seaborne coking coal spot market was inundated with offers on Thursday May 16 although the high asking prices kept buyers at bay.At least 11 cargoes of premium hard coking coal and two cargoes of second-tier hard coking coal are being offered to buyers in China, according to various sources.Top Australian brands were offered at around $215-216 per tonne cfr China while two cargoes of other bra...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday May 16 that are worth another look.Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying during afternoon trading.Metals trader Glencore has reshuffled its c...Read More