UK ferrous scrap prices for deliveries in December have uniformly dropped by ?20 per tonne due to weaker export prices and a slowdown in domestic consumer demand, trade sources told Fastmarkets MB on Thursday December 13.The move follows a rollover on consumer delivery settlements in the past two months. UK suppliers had signaled a likely drop in December shipment prices due to a fall in European...Read More
RAPAPORT... Jewelry sales at Christie's garnered a combined $492.3million this year, driven by expensive blue and pink diamonds. The company's top-selling piece was the Winston Pink Legacy,a rectangular-cut, 18.96-carat, fancy-vivid-pink diamond, which sold in Genevalast month for $50.4 million. Other top lots for the year included apear-shaped, 8.01-carat, fancy-vivid-blue, internally flawless di...Read More
(IDEX Online) - Trans Atlantic Gem Sales (TAGS) held a rough diamond tender from the November 26 to December 4 at the Dubai Diamond Exchange in the Almas Tower, Dubai., selling 97,841 carats for $46.4 million. The company reported that two regular productions of high quality and high color material from South Africa and Angola were offered for sale, as well as several significant special s...Read More
RAPAPORT... Fortuna recorded its largest auction to date as a blue diamond ring fetched $1.4 million in New York earlier this month. The pear-shaped, 3.05-carat, fancy-intense-blue, SI2-claritydiamond ring surrounded by pink diamonds had a presale estimate of $1.2 millionto $1.8 million. That piece led Fortuna's Magnificent Jewels sale, which garnereda total of $4 million, with 83% of lots s...Read More
RAPAPORT... Trans Atlantic Gem Sales (TAGS) sold $46.4 million worth ofrough diamonds during a tender in Dubai in late November and early December, itsaid Wednesday. The company sold 97,841 carats of high-quality stones frommines in South Africa and Angola for an average price of $474 per carat. Thecompany extended its final bidding deadline due to strong interest, it said. "Through 2019 we...Read More
Turkish steel mills continued to stay out of the deep-sea scrap markets on Thursday December 13. They are unlikely to resume buying any time soon due to the continuing lack of demand for finished steel in the country's domestic and export markets.Steel mills in Turkey have been holding back from scrap purchases for more than two weeks now, with only one cargo booked since November 2...Read More
HARARE/LONDON – De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining Minister Winston Chitando said.A spokesman for De Beers, an Anglo American unit, said in an email it was not mining in Zimbabwe and did not intend to. Vast Resources said it could not comment.Adver...Read More
JSE-listed diamond miner Trans Hex reported a group net profit of R52-million for the six months ended September 30, compared with the R199-million loss reported for the six months to September 30, 2017.The company managed to raise its earnings a share to 37.6c apiece, compared with a loss of 89.7c apiece in the prior comparable period.AdvertisementSales revenue from the South African operations i...Read More
Comex copper prices moved higher on the morning of Thursday December 13 in the United States, with easing global trade tensions providing a boost to risk appetite.The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 0.90 cents to $2.7790 per lb.Worries that the trade war between the US and China will only escalate in 2019 have softened in recent we...Read More
As part of its series on blockchain in commodities, Fastmarkets takes a closer look at the evolution of blockchain networks for trade financeMarco PoloOne of the fastest growing trade and working capital finance networks in blockchain is the Marco Polo network, a joint venture with technology firm TradeIX and software firm R3, along with a number of major banks and their clients.Designed to facili...Read More
JOHANNESBURG (miningweekly.com) – The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi.Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only 100% black women owned drilling company in South Africa...Read More
London Metal Exchange base metal prices are broadly higher on Thursday December 13 due to good signals from China-US trade tensions, with the three-month zinc price leading the complex due to historic low inventories."More positive steps from China on trade seem to be easing some of the concerns in the market, although traders are probably nervous that any positivity could be unwound with one pres...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) dropped 7% month on month in November, based on data released by major Japanese trading house Marubeni on Thursday December 13.Total MJP aluminium stocks stood at 295,400 tonnes at the end of November, compared with 317,300 tonnes at the end of October, the third consecutive drop since September. The total stock level, however, remain...Read More
Sustained investment in people a big plus for consultancySPONSOREDbyrnecutMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsMining, oil and gas combined contributes 37% of the territory's gross domestic product, making the it the north's large...Read More
It was another firmer start for the three-month base metals prices on the London Metal Exchange this morning, Thursday December 13, with all the metals in positive territory and showing average gains of 0.6%.More positive steps from China on trade seems to be easing some of the concerns in the market, although the traders are probably nervous that any positivity could be unwound with one president...Read More
RAPAPORT... Global Witness is calling for improved transparency in Zimbabwe's diamond sector, pitching it as a test case for the new president's economic reforms."The new government's handling of the Marange diamond industry will be a clear indication of whether its commitments to economic reform and anti-corruption go beyond lip service," Sophia Pickles, campaign leader for the organization,...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday December 13* Copper -$116.88 (-804.62 yuan) Aluminium -$429.32 (-2,955.46 yuan) Zinc -$104.15 (-716.99 yuan) Nickel $143.04 (984.71 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Companhia Sider??rgica Nacional (CSN) expects Brazilian apparent consumption of flat steel to grow in 2019 while imports' share of usage remains stable, an investor presentation published on Wednesday December 12 showed.The company estimated that Brazilian flat steel consumption will reach 13.43 million tonnes next year, 6% above the 12.67 million tonnes forecast for 2018. Import penetration in bo...Read More
BHP Group may be heading for another clash with investors as the world's biggest miner gets closer to a decision on whether to build, sell or mothball its $20 billion potash project.The Jansen mine in Canada is aimed at giving the company exposure to rising global food demand and represents one of its few big growth prospects. BHP has already spent about $2.7 billion on the project, according to...Read More
US flat-rolled import prices have dipped, with cheaper hot-rolled coil and cold-rolled coil mirroring declines in global steel prices, market participants said.Fastmarkets AMM's price assessment for imported hot-rolled coil fell to $680-720 per ton cfr port of Houston on Wednesday December 12, down from $700-750 per ton two weeks earlier. The assessment for imported cold-rolled coil ...Read More