For a number of years problems at Ilva, the largest steelworks in Europe, have been casting shadow over the performance of the whole Italian steel industry. Will an acquisition of Ilva by a consortium led by ArcelorMittal, now in its final stage, be a game changer for the market?Following multiple reports of environmental and health problems caused by the Taranto plant, in 2013 Ilva was placed und...Read More
China ended steel production in all of the country's illegal induction furnaces by the end of June last year, it ha claimed.Most operators in China are primarily small private mills that use low-quality scrap to produce substandard rebar. This is mixed with grade III (HRB400) rebar and sold at a discount to construction contractors.For a long period, the government had neither a record of nor cont...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
The partners in the Hook Lake uranium joint venture have approved a 2019 exploration budget of $3 million. Situated within the Patterson Uranium District, Hook Lake is owned jointly by Cameco Corp. (39.5%), Orano Canada (39.5%) and Purepoint Uranium Group (operator and holder of a 21% interest).This year's program includes 6,600 metres of diamond drilling by two rigs. Seven holes will test targets...Read More
SASKATCHEWAN - Fission 3.0 Corp. of Kelowna, B.C., is preparing for its winter drilling program at four high priority targets - Wales Lake (two holes), Patterson Lake North (five holes), Key Lake (nine holes) and Cree Bay (two holes). About 4,400 metres of drilling is planned.Fission 3 recently completed an $8-million financing with which to fund the work.The Wales Lake occurrence is similar to Fi...Read More
Seaborne pig iron has become relatively competitive versus ferrous scrap over the past year in most regions, and China is no exception. As the first chart below illustrates, the gap between the MBR's proxy for imported pig iron price in China and the Metal Bulletin's Chinese domestic heavy melt scrap price assessment had shrunk by late 2017. The premium averaged $17 per tonne this year to date, co...Read More
RAPAPORT... Brian Land has left his position as executive director ofthe Canadian Jewellers Association (CJA) after completing an 18-month contractwith the trade group. The CJA hired Land on a temporary basis in August 2017 tomanage its merger with Jewellers Vigilance Canada, which took effect in Octoberof last year. Carla Adams, a manager at CJA, will serve as interim directoruntil the orga...Read More
RAPAPORT... Fossil Group has appointed former Pandora chiefmerchandising officer Beth Moeri as executive vice president of portfoliobrands. Moeri, who was an executive at the Danish charm jeweler for morethan six years, will be responsible for Fossil's portfolio of licensed watchand jewelry brands, including Armani Exchange, Emporio Armani, Diesel, KateSpade New York, Michael Kors and T...Read More
RAPAPORT... India increased its dominance in the cutting and polishingsector in 2017 due to relatively low costs that gave it a competitive advantageover China, according to Bain & Company. The Indian diamond-manufacturing industry grew 11% in 2017,outpacing the Chinese market, which increased 2%, Bain reported. That leftIndia with more than 90% of the market, versus China's low-single-di...Read More
RAPAPORT... De Beers has increased its production forecasts for 2018 and the coming years, as the miner anticipates solid consumer demand. The diamond company expects output for the current year to reach 35 million to 36 million carats, the highest level since 2008, whereas it recovered 33.5 million carats in 2017, parent company Anglo American said Tuesday. Recovery levels will dip to betwee...Read More
RAPAPORT... Somewhere between the volatility of cryptocurrencies and thestability of diamond prices lies an opportunity for investors. That is, atleast, what several new initiatives to create diamond-backed crypto-coins arebetting on.In fact, developers of these coins, or "tokens," areconfident the asset class will offer a solution to challenges facing both thecrypto market and the diamond trade....Read More
Mining production lifted marginally, by 0.5% year-on-year, in October, primarily on the back of strong growth in platinum group metals (PGMs), diamonds and manganese ore output, according to Statistics South Africa (Stats SA).Production of PGMs, which occupy the second-highest weighting in the minerals basket at 23.5%, increased by 21.4%, adding 4.3 percentage points to the headline number.Adverti...Read More
(IDEX Online) - De Beers has raised its forecast for output for this year to 35 million to 36 million carats, the highest level in a decade since demand was battered by the global financial crisis of 2008. The figure was revised upwards from 34 million to 36 million carats. The updated figure compares with production of 33.5 million carats in 2017, according to a press statement from Anglo...Read More
(IDEX Online) - A little more than a month before the start of the winter edition of the Vicenzaoro show, which takes place from January 18th to 23, the Italian Exhibition Group S.p.A. (IEG) has unveiled the new brand identity of the exhibition which is to be officially launched at the fair. FutureBrand, a brand consultancy company, was selected by IEG to rebrand the show and has done so al...Read More
A historic backwardation in zinc forward prices has its first major casualty, with Thailand's foremost zinc distributor set to close that part of its business as a result.Padaeng Industry, formerly a primary zinc smelter which pivoted into the renewable energy industry, will close its 50,000 tonne per year zinc metal distribution business at the end of 2018, the company said in a Stock Exchange of...Read More
(IDEX Online) - The Canadian Jewellers Association (CJA) has announced changes to its management personnel, with Executive Director, Brian Land leaving the role and the Association following the completion of his scheduled 18-month contract. He will continue to be involved with the CJA as a freelance writer, while Carla Adams, currently a manager in the Association office, will discharge t...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
(IDEX Online) - Online diamond bridal jewelry retailer JamesAllen.com has officially opened its new brick and mortar retail store in Georgetown, Washington DC. The firm said the store offers an OmniChannel experience by providing a new, complementary way for JamesAllen.com customers to explore, research, and purchase its products. JamesAllen.com was acquired last year by Signet Jewe...Read More
(IDEX Online) - In the third departure of a senior figure in less than a year, Dominion Diamond Corp Chief Executive Officer Patrick Evans left the company last week. Evans left on December 5, but will remain as an adviser to the Canadian miner until the end of next year. He is being replaced by COO Shane Durgin. Evans was named as CEO 13 months ago following the company's acqui...Read More