Diamond miner De Beers sold $540-million worth of diamonds in the tenth sales cycle of this year, bringing its total sales for the year to about $5.39-billion.The most recent sight yielded the strongest results for a final sales event in at least three years and compares with $455-million worth of diamonds sold in cycle ten of 2017 and $422-million sold in the same period of 2016.AdvertisementThe...Read More
(IDEX Online) - HRD Antwerp has signed a partnership with Dubai-based jewelry retailer Stargems to certify its jewelry inventory through the establishment of a diamond jewelry grading lab. The cooperation agreement will ensure the transparency and authenticity of each jewelry piece, the sides said in a statement. As a result of the collaboration, HRD Antwerp will open its first diam...Read More
The knock-on effect of Section 232 tariffs imposed by the United States in March this year on imports of steel and aluminium has been swift and dramatic.In retaliation, the European Union, Canada and Turkey swiftly imposed their own safeguard measures; the Eurasian economic zone is set to do so soon.But this trade war poses in particular a threat to the Middle East-North Africa region, which is cu...Read More
(IDEX Online) - Gem Diamonds Limited has announced the recovery of high quality 101 carat and 71 carat white Type IIa diamonds. They were recovered within a 24-hour period at the Let??eng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world, the miner said. The recovery of the 101-carat diamond brings the total recoveries at Let??eng during 2018 to a re...Read More
(IDEX Online) - The Chow Tai Fook Jewellery Group is joining the Tracr?,,? end-to-end diamond industry blockchain traceability platform being developed by the De Beers Group in collaboration with key industry stakeholders. Chow Tai Fook joins a range of other leading businesses from across the diamond value chain in piloting the next generation asset-tracking platform powered by blockchain...Read More
Aluminium market participants in the United States and Europe expect further downward pressure on premiums and London Metal Exchange prices following the US Treasury Department's announcement that sanctions against UC Rusal will be removed.Sanctions were imposed against Rusal in April, followed by several extensions of general licenses that allowed companies additional time to wind down their...Read More
The tin premium in Europe held firm on Tuesday December 18, but remains elevated amid continued Indonesian export delays, while quiet market conditions and a closed import window kept US and Chinese premiums flat week on week. Europe awaits Indonesian export resolution Reduced output caps domestic US market Chinese premiums steady amid seasonal lull European premiums remain elevated d...Read More
Comex copper prices rebounded on Wednesday morning in the US ahead of the Federal Reserve's decision on whether to raise or maintain interest rates.The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 2.40 cents to $2.6885 per lb. Earlier, the contract hit a low of $2.6930 per lb, its weakest since November 14.While the...Read More
Delivery of close to 20,000 tonnes of zinc onto the London Metal Exchange has eased the tightness in the cash/three-month spread, boosting Southeast Asian premiums in the week ended Tuesday December 18 while European and Chinese premiums continued to stay under pressure; lead premiums were flat across various markets on little spot interest. China's zinc premium fell with deals for 2019 long-term...Read More
Alcoa will start to curtail half of the one operating potline at its Aluminierie de Becancour Inc (ABI) smelter in Quebec, Canada, it said on Wednesday December 19. The smelter has a nameplate capacity of 413,000 tonnes per year across its three potlines. Alcoa owns 74.95% of the Becancour smelter while Rio Tinto owns the remaining...Read More
Domestic prices for heavy steel plate in Europe have been largely stable due to the seasonal market slowdown ahead of Christmas, sources told Fastmarkets on Wednesday December 19.Yet, prices are expected to move down in January after market participants return to the market after holidays. "Demand was not good in December and it is unlikely to significantly recover in January, apart from some seas...Read More
European prices for mesh-quality wire rod stayed flat across the Northern and Southern parts of the continent on Wednesday December 19, with questions over the future of the region's import quotas continuing.Fastmarkets MB's weekly domestic price assessment for mesh-quality wire rod in both Southern and Northern Europe was at ?,?540-560 ($614-636) per tonne delivered on Wednesday, unchanged from l...Read More
The price for rebar produced and delivered in Southern Europe fell slightly on the low end on Wednesday December 19, with some low offers from Spain carrying into the year-end period.Fastmarkets MB's weekly price assessment for domestic rebar in Southern Europe slipped to ?,?520-540 ($591-614) per tonne delivered on Wednesday, but there is very little activity predicted ahead of the New Year and t...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday December 19, with the year-end and uncertainty over import quotas keeping the market quiet. Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe remained at ?,?540-560 ($614-636) per tonne delivered on Wednesday, with very little activity in the week while the market winds down for the...Read More
Domestic prices for steel beams in Europe were flat week on week due to the market winding down for Christmas holidays, sources said on Wednesday December 19.Fastmarkets MB's weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was at ?,?620-645 ($705-733) per tonne on December 19, flat week on week."Prices are stable as expected, everybody is closed now...Read More
Hollow steel sections prices in Europe were unchanged this week, which reflects doubts about the ability of mills to push through proposed price increases, market participants told Fastmarkets MB on Wednesday December 19.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week at ?,?635-650 ($721-738) per to...Read More
BEIJING - Representatives from China's biggest aluminium producers will hold a meeting in the southern region of Guangxi to discuss slumping demand and falling prices, three sources familiar with the matter said on Wednesday.The producers held a similar gathering in late 2015 and the meeting comes as a protracted price decline leaves smelters struggling to turn a profit, even after significant out...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Futures responded to overnight news that the U.S and China will resume trade negotiations in early January. Investors are waiting for news from the FOMC meeting to be released at 2:00 PM EST. Consensus calls for a 0.25% increase in the Fed Fund rate to 2.50%. The Canadian Dollar added 0....Read More
The latest news and price moves to start the Asian day on Thursday December 20.Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Wednesday December 19, reflecting a continued retreat in the dollar index. Read more in our live futures report.Here are how prices looked at the close of trading:Leading pig iron exporter Metalloinvest is to modernize two of i...Read More
Stainless scrap prices in the United States were flat this week, with the seasonal year-end lull poised to linger into next year due to low nickel prices and an anticipated downturn in ferro-chrome pricing in the first quarter, market sources said. "It is a typical fourth-quarter slowdown and inventory reduction period, but excess supply is compounding the ugliness [and] allowing mills [consuming...Read More