(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
Mining investments are rising in Peru, with projects slated for the next decade amounting to $59.3 billion in the latest data collection by the local government in November, up from the $58.51-billion tally in March. Peru has three mining projects already in the construction phase and nine more scheduled to begin in December, the data show. There are another 16 projects expected for the 2019-21 pe...Read More
The government of Greece has held emergency meetings to keep the country's state-owned ferro-nickel company Larco in production. George Stathakis, Greece's Minister of the Environment and Energy, met on Wednesday December 12 with the members of the left-governing party Syriza as well as representatives of trade unions in Larco, to discuss how to avoid closing the indebted company. Larco is the sec...Read More
The tin premium in Europe continued its ascent on Tuesday December 11 on mounting concern for the availability of supply from Indonesia, while weak demand is keeping premiums in the United States and China flat. European premium boosted by Indonesian export freezeUS premiums flat in quiet marketChinese premiums stable on seasonality, closed import window European tin premium up before a tight Janu...Read More
Base metals prices on the London Metal Exchange had mostly drifted lower by the close on Wednesday December 12 but were confined to tight ranges throughout what was an unexceptional trading day.Volumes were thin while market participants slowed their trading ahead of the looming end of the year. In copper, around 10,000 lots traded by the 5pm close compared with more than 22,000 lots on Friday. Th...Read More
The lingering backwardation in cash/three-month zinc spreads pressured the Southeast Asian premium down this week; lead premiums were largely stable with market participants focused on securing long-term contractual supply amid the continued absence of Iranian lead units. Backwardation in cash/three-month zinc spread stood at $77 per tonne as of Wednesday December 12. The backwardation stil...Read More
Fastmarkets' European nickel premium fell, while that for briquette in the United States stabilized in an unusually active week ended Tuesday December 11 with sellers trying to command higher premiums on falling metal prices. Nickel briquette premiums fell in Rotterdam Discounting of US briquette premium stalls; spot activity picks up No change in China during year-end slowdown The prem...Read More
Comex copper prices were unchanged during trading on Wednesday December 12 amid market hesitation after the latest round of global trade developments.The copper price for March settlement on the Comex division of the New York Mercantile Exchange was flat at $2.7670 per lb.Sentiment in commodity markets received a boost from the news that China plans to slash import tariffs on US automobiles from 4...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedCEO Mark Cutifani told a briefing for investors and analysts Tuesday he was confident about the company's outlook, with Anglo's production expected to be 2% higher than the full-year 2018 guidan...Read More
State-owned Saudi Arabian steel producer Hadeed Sabic plans to investment in a new product, although the details have yet to be announced, company president Mohammed Al-Zahrani said on Tuesday December 11.The trade war between China and the United States has affected the Middle East region because those countries that cannot export to the US are redirecting their products to the Middle East, Al-Za...Read More
Waterton bought 912,763 Hudbay common shares on the open market at C$6.4973 for a total investment of $5.93 million.It previously expressed opposition to Hudbay's commitment to any further mergers and acquisitions, saying the company had enough quality projects to create significant shareholder value.Waterton had requisitioned a special meeting of shareholders on October 23, to have sharehold...Read More
Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Wednesday December 12, with average gains of 0.3%. This after the complex climbed by an average of 0.4% on Tuesday, which followed Monday’s test of support levels – that held. This morning’s gains were fairly tightly bunched with prices rising between 0.2% for aluminium and 0...Read More
Hollow steel sections prices in Europe remained flat this week while the market mulled the implications of reaching the import quota limit, market participants said.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 tonne delivered on Wednesday December 12.The hollow sectio...Read More
European prices for mesh-quality wire rod stayed flat across the Northern and Southern parts of the continent on Wednesday December 12, with the EC's import quota now more than 90% filled.Fastmarkets MB's weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe stayed at ?,?540-560 ($613-636) per tonne delivered on Wednesday.The European Commission's import...Read More