The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
Gold traders wondering about bullion's 5% decline since its February high may not need to look any further than the calendar. That's because gold appears to follow a six-months-on, six-months-off seasonal pattern. We're right in the middle of the period of seasonal weakness, which likely could last through August. To be sure, this seasonal pattern doesn't always hold up every year. Its existence i...Read More
Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More
When the London Metal Exchange amended its policies related to its physical delivery network a few years ago, it overlooked one key thing. The issue centers on LME's linked load-in/load-out (LILO) rule, which operates by linking the amount of metal a warehouse loads in to the amount it is obligated to load out for warehouses that have queues of over 50 days.The rule changes were part of package of...Read More
Gold futures ended higher Thursday as investors braced for an intensifying Sino-U.S. trade conflict, which could provide a lift to bullion amid markets stricken by international trade fears. The precious metal traded higher "with news flow on the trade situation favoring uncertainty and the dollar posting very minimal weakness," said analysts at Zaner Metals. Gold for June delivery GCM9, +0.00%...Read More
A trade war between the United States and China is depressing the price of copper and the red metal would be 5% to 15% higher without the dispute, the chairman for Chile's Antofagasta Plc told a Chilean newspaper on Sunday."Without the commercial war, I am convinced that the price of copper would be between $3.20 and $3.50 per pound," Jean-Paul Luksic said in an interview with El Mercurio.Despite...Read More
Large diversified miners saw another 12 months of consistently increasing profit margins and cash flows in FY2018.According to Fitch Solutions, the positive numbers are a result of miners streamlining their operations, cutting debt and expenditures, increasing production efficiencies, and incorporating advanced technology in operations to further enhance productivity and reduce costs."Building on...Read More
Compelling supply and demand projections for copper in the years ahead makes the red metal one of the favourites of industry observers, who see flat-lining mine supply running into increased demand as the world continues to achieve greater electrification. Here's a look at eight active juniors with substantial copper assets in their property portfolios.AURYN RESOURCESWhile Vancouver-based junior A...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 10 that are worth another look.Primary aluminium foundry alloy premiums in Europe were steady on Friday May 10 in a quiet market, while bearish sentiment from the automobile industry continued to cap premiums. The premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region...Read More
RAPAPORT... Leo Schachter, whose famed international diamond company has borne his name for almost 70 years, has died. Schachter launched Beck and Schachter Company on New York's47th Street in 1952, having learned the trade from his father, Max. The firmbecame a De Beers sightholder in 1966, and expanded beyond the US to Israel,Africa and the Far East. It remained a family business, with many of S...Read More
RAPAPORT... Shares in Mountain Province rose 12% Friday after it increased its production guidance for the Gahcho Ku?(C) deposit. The Canada-based miner has made plant modifications at thesite that will allow it to process between 3.2 million and 3.3million tonnes of ore in 2019. Mountain Province had previously stated it expected toprocess between 3.1 million and 3.2 million tonnes. The chan...Read More
RAPAPORT... The Dubai Multi Commodities Centre (DMCC) will offer rough lab-grown diamonds at tender for the first time, as it aims to diversify the emirate's trade. The sale, which will be run by Hong Kong-based diamondtrading firm Tony's Auction World, will feature 50,000 carats of synthetic stones created using chemical vapor deposition (CVD). The tender will take place in the Almas Tower a...Read More
RAPAPORT... Lucara Diamond Corp.'s revenue nearly doubled in the firstquarter, as it introduced a new tender process which enables it to sell its higher-value stones faster. Revenue rose 92% to $48.7 million, as sales volume increased50% to 95,057 carats. The average selling price climbed 28% to $512 per caratfor the three months ending March 31. During the quarter, the company's new c...Read More
The Australian Financial Review reported that according to filings with the Australian Securities and Exchange Commission (ASIC), that profits generated in 2018 by Rio Tinto's diamond mine Argyle rose to their highest levels in a decade. The Argyle diamond mine, which is scheduled to close in 2020, registered $370.6 million in revenue which was 26 percent higher than in 2017 and was the mine&...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.As Indonesia heads for the polls on 17 April, Wood Mackenzie's research director Andrew Harwood provides the following commentary:"We predict that President Jokowi will once again defeat his 2014 opponent, Prabowo Subianto, and secure...Read More
The Fancy Color Research Foundation (FCRF) concluded today the results of the Fancy Color Diamond Index' first quarter of 2019. the overall prices decreased by 0.2 percent in the first quarter of 2019, influenced by a decrease in the yellow category. pink diamonds increased by 0.5 percent, blue diamonds showed a very slight decrease of 0.2 percent, and yellow diamonds decreased by 1.5 percent...Read More
RAPAPORT... Gem Diamonds' revenue faltered during the first quarter, as it recovered fewer large diamonds from its Let??eng mine. Sales plunged 51% to $51.9 million for the three months ending March 31, as the average price dropped 42% to $1,900 per carat. During thesame period last year, the miner sold the 910-carat Lesotho Legend for $40million, raising the average price for the period...Read More
GIA is organizing two seminars of interest during the upcoming JCK LV show. Identifying Laboratory-Grown Diamond Seminar Learn the techniques used to identify laboratory-grown diamonds, including HPHT and CVD, through interactive, guided discussion and a hands-on lab. Previous Gemological training and/or experience is recommended. Friday, May 31 - two sessions available: 9:00 to 11:00 a.m. a...Read More
Two reportedly illegal diamonds miners were killed in clashes between protesters and Angolan security forces who they blamed for the deaths of other illegal diamond miners. The protests were staged in Calonda, in Lunda Norte province, after reports that 17 illegal miners had died in a diamond mine. The demonstrators argued these 17 miners had been killed by police, or by the mine's security f...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.China's influence on global commodity markets is unparalled. It's a matter of scale.China imports more than 60% of domestic demand for oil, gas and iron ore. Its imports of oil, LNG and coal account for around a fifth of glo...Read More