The global refined copper market recorded a surplus of 74,000 tonnes in February 2019, compared with a deficit of 33,000 tonnes in the prior month, according to preliminary data released by the International Copper Study Group (ICSG). World refined copper production totaled 1.83 million tonnes in February, down by 9.4% from 2.02 million tonnes in January, while usage amounted to 1.76 million tonne...Read More
Base metals prices on the Shanghai Futures Exchange were on divergent paths during morning trading on Tuesday May 21, with the resumption of operations at the Alunorte refinery in Brazil putting pressure on aluminium prices, while nickel climbed after London Metal Exchange spreads moved into backwardation.Aluminium was amongst the underperformers on Tuesday morning, with its most-traded July contr...Read More
Companhia Sider??rgica Nacional (CSN) will increase its prices for steel by around 10% in June and other Brazilian flat steel producers are likely to follow its lead, the president of national distributors' association (Inda), Carlos Loureiro, said on Tuesday May 21.Domestic steel is being sold at a discount in comparison with imports, he added, while cost inflation has been hurting steelmakers' m...Read More
UK steel trade unions have renewed their calls for the government and British Steel's owners Greybull Capital to reach an agreement to save the troubled long steel producer."It is vital now that cool heads prevail and Greybull and the [British] government continue to focus on finding a solution that maintains employment and keeps the business trading," Alasdair McDiarmid, operations director for U...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were down during the week to Tuesday May 21 after Chinese producers adjusted their offers to remain competitively priced amid declining domestic demand and the weakening Chinese currency, market sources said.The Chinese currency slid to 6.91 yuan to $1 on Tuesday May 21, compared with 6.73 yuan per $1 on Sunday May 6, one da...Read More
China's hot-rolled coil prices rose on Tuesday May 21 after trading turned more active following gains in the futures market.DomesticEastern China (Shanghai): 4,000-4,040 yuan ($578-584) per tonne, widening upward 30 yuan per tonneNorthern China (Tianjin): 3,900-3,920 yuan per tonne, widening upward 10 yuan per tonneWhile sellers started with prices of around 4,000 yuan per tonne in Shan...Read More
RAPAPORT... De Beers' sales fell to their lowest level in more than ayear and a half, as a slowdown in the Indian manufacturing sector hit roughdemand. Revenue dropped 25% to $415 million for the fourth salescycle of the year, which included last week's May sight in Botswana, thecompany reported Tuesday. Proceeds haven't been that low since October 2017, when De Beers garnered just $376 million am...Read More
RAPAPORT... A private collection of more than 800 luxury watches will gounder the hammer at four Sotheby's auctions in London, Geneva, New York andHong Kong over the coming year and a half. The Masterworks of Time sale series comprises pieces from the last500 years that have been out of the public eye for a long time, Sotheby's saidrecently. The collection also encompasses clocks from the past 400...Read More
RAPAPORT... Round diamonds have long been the most popular in the US, but fancy shapes also have a following in certain cities, according to a study by Blue Nile. Round-cut diamonds continue to be the most popular shape inmost states, accounting for 66% of nationwide orders, the jeweler said lastweek. However, when it comes to fancies, Blue Nile receives the most orders foremerald and princes...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 transactions: hot-rolled coilHot-rolled coilEast China, domestic,...Read More
De Beers's diamond sales plunged to the lowest since 2017 in the company's latest offering, underlining a slump in the industry worldwide.Sales by the Anglo American Plc unit dropped 25% from a year ago to $415 million, and were down 29% from an offering last month. It's often a quieter time of the year because the industry has already restocked after the key holiday period, but total sales so far...Read More
RAPAPORT... Sarine Technologies posted a loss in the first quarter ascredit problems in the Indian manufacturing sector led to softened demand forits equipment. The diamond-technology company reported a net loss of $1.4million, versus a profit of $3.1 million for the same period last year, thecompany said last week. The company's customers in India, its largest market,struggled to obtain cred...Read More
JCK announced that His Excellency Dr. Mokgweetsi Eric Keabetswe Masisi, President of the Republic of Botswana, will open the JCK Las Vegas Show as a keynote speaker on Friday, May 31, 2019 at 7:30 am in the Palazzo Ballroom, Venetian Level 5. This "historic conversation will focus on the special connection between the Americans and the people of Botswana as His Excellency, the President of the Rep...Read More
Since the beginning of the year, the news releases issued by the De Beers Group regarding their periodical rough diamond sales (Global Sightholder Sales and Auction Sales) keep getting shorter and shorter. That was also valid for the report concerning De Beers' news on for the fourth sales cycle - or sight - of 2019. The moment these releases will get longer again, it will be to announc...Read More
Aaron Shum Jewelry of Hong Kong and designer Reena Ahluwalia partnership is set to add more dazzle to JCK this year. The brand will be exhibiting Coronet's ninth Guinness World Record and their Alyssum by Reena collection at JCK Las Vegas, booth 57096. The Mudan diamond watch was awarded the Guinness World Record at Baselworld for most diamonds set on a watch. The watch is set with 15,858 di...Read More
Minerals Council South Africa facilitated the inclusion of junior-specific provisions in Mining Charter III, gazetted in September last year, says Minerals Council Junior and Emerging Miners’ Desk head Grant Mitchell.He notes that the provisions will assist the stability and growth of the junior and emerging mining space, which has lagged behind that of Australia and Canada.AdvertisementMitc...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 130-carat, gem-qualitydiamond from its Lulo alluvial mine in Angola. The stone is the miner's 13th over 100 carats todate, and its second in that size category this year, it said last week. It found a128-carat, white, type IIa stone in February. The company expects to sell those two diamonds, along with a62-carat white diamond and several fa...Read More
Seaborne iron ore prices continued to strengthen on Tuesday May 21 after exceeding $100 per tonne cfr last Friday, thanks to gains in the futures and spot steel markets.MB 62% Fe Iron Ore Index: $102.03 per tonne cfr Qingdao, up by $0.32 per tonne.MB 62% Fe Pilbara Blend Fines Index: $100.22 per tonne cfr Qingdao, up by $0.32 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $105.76 per tonne cfr Qi...Read More
Seaborne coking coal spot prices were mostly lower on Tuesday May 21 despite a third round of increases in metallurgical coke prices in China.Eastern China-based Rizhao Iron & Steel - a major coke buyer in the country - increased its purchase price for coke on Tuesday for a third time since April 26, sources said.It is now paying a delivered price of 2,140 yuan ($309.40) per tonne for materia...Read More
Physical iron ore markets continued to strengthen on Friday May 17, with the seaborne price breaching $100 per tonne cfr China for the first time in five years amid bullish futures.MB 62% Fe Iron Ore Index: $101.71 per tonne cfr Qingdao, up by $2.50 per tonne.MB 62% Fe Pilbara Blend Fines Index: $99.90 per tonne cfr Qingdao, up by $2.50 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $104.48 per t...Read More