The latest news and price moves to start the Asian day on Tuesday December 25....Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday December 24.There was general weakness across the base metals traded on the Shanghai Futures Exchange during Asian morning trading on Monday, with prices broadly down amid bearishness stemming from a challenging macro environment.Check Fastmarket MB's live futures report here.The London...Read More
Lead rose 1% by the close on the London Metal Exchange on Monday December 24, while the rest of the base metals inched lower in a mostly quiet session ahead of the Christmas holidays.Following a 31,150 tonne cancellation on Monday, mostly in Antwerp LME sheds, lead was the best performer up $20 per tonne to close at $1,985 per tonne on Monday. Total lead stocks fell 50 tonnes to 107,575 tonnesDesp...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday December 24* Copper -$65.91 (-455.73 yuan) Aluminium -$389.21 (-2,691.1 yuan) Zinc -$10.67 (-73.75 yuan) Nickel $127.47 (881.36 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Physical iron ore prices dipped on Monday December 24 following declines in China's steel and futures markets.MB 62% Fe Iron Ore Index: $71.58 per tonne cfr Qingdao, down $0.66 per tonne. MB 62% Fe Pilbara Blend Fines Index: $71.41 per tonne cfr Qingdao, down $0.66 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $73.52 per tonne cfr Qingdao, down $0.64 per tonne. MB 58% Fe Premium Index: $63.67 p...Read More
Globally, there were 1,349 announced mining deals valued at $86.3 billion through December 18 this year, up 60% from the 2017 total, according to data compiled by Bloomberg.During the heady days of the China-induced supercycle in metals demand, mergers and acquisition in the industry topped $100 billion three years in a row, peaking at $149 billion in 2012 before slumping to little over $50 billi...Read More
December 24, 2018NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESToronto, Canada (December 24, 2018) - Mega Uranium Ltd. (MGA: TSX) is pleased to announce the closing today of the final tranche of its previously announced non-brokered private placement (the "Financing"), pursuant to which the company raised additional aggregate gross proceeds of $44...Read More
RAPAPORT... The Russian government has approved Alrosa's acquisition of Kristall,the diamond manufacturer said Monday.Alrosa has hired Maxim Shkadov, Kristall's director general,to work on integrating the two companies, Kristall added. Alexey Romankov,Kristall's deputy director general and production director, will take over asacting general director at the cutting firm until the next shareholder...Read More
RAPAPORT... Diamond manufacturer Pluczenik must pay $3.3 million to abroker that claimed the company breached a pact made almost 25 years ago, a courthas ruled. The case dates back to a 1994 oral agreement between broker WilliamNagel and Isaac Pluczenik, then CEO of Pluczenik. Nagel agreed to reduce hiscommission for services at De Beers' sights on condition Pluczenik retainedNagel as its bro...Read More
RAPAPORT... The Zambian Revenue Authority (ZRA) has cleared Gemfields' subsidiary Kagem Mining of all tax-evasion allegations following an investigation at itsemerald mine earlier this year. The ZRA has advised Kagem that all matters under scrutinyhave been "suitably addressed," Gemfields said last week. The tax authorityfound no instances of wrongdoing or late payment by either party, the mi...Read More
RAPAPORT... The Zimbabwe government has installed a crushing plant atits Marange diamond deposit as it aims to shift from alluvial operations tohigher-value mining. The Zimbabwe Consolidated Diamond Company (ZCDC) hopes toincrease annual output to 10 million carats within the next five years, the nation'sMinistry of Information, Publicity and Broadcasting Services said in a Twitterpost last w...Read More
Cobalt prices continued to slide in the second half of the month as sellers feeling the pressure to destock ahead of the year-end faced buyers reluctant to add to their books in December. Fastmarkets assessed high-grade cobalt prices at $26.25-28 per lb, in-warehouse, on Friday December 21, down from $27-29 per lb at the time of the midweek assessment. Fastmarkets assessed low-grade cob...Read More
(IDEX Online) - The England and Wales Court of Appeal recently ruled in favor of veteran diamantaire Willie Nagel in a case featuring Antwerp sightholder Pluczenik. The Belgian firm will have to pay $3.3 million to its former broker, W Nagel Ltd., after the court agreed with a ruling of a lower court that Pluczenik violated an agreement between the sides from 20 years ago. Nagel told...Read More
(IDEX Online) - Diamcor Mining Inc. sold 1,905 carats of rough stones from its Krone-Endora at Venetia Project for $303,138.39, resulting in an average price of $158.60 per carat. The company tendered 2,256 carats of rough diamonds; the balance of 351 carats will be tendered along with additional rough diamonds delivered by the company in January. Tota...Read More
(IDEX Online) - The head of Angolan diamond marketing company Sodiam said a second diamond cutting and polishing factory is to be established in Saurimo in February. Sodiam CEO Neves Silva said that the plant, part of the company's strategic plan for the 2018-2022 period, will initially be able to process 4,000 carats of rough diamonds per month, according to a report on Macauweb. Th...Read More
Lead rose 1% by the close on the London Metal Exchange on Monday December 24, while the rest of the base metals inched lower in a mostly quiet session ahead of the Christmas holidays.Following a 31,150 tonne cancellation on Monday, mostly in Antwerp LME sheds, lead was the best performer up $20 per tonne to close at $1,985 per tonne on Monday. Total lead stocks fell 50 tonnes to 107,575 tonnesDesp...Read More
The latest news and price moves to start the Asian day on Tuesday December 25....Read More
Fastmarkets MB has amended the date of publication of its monthly ferro-nickel cif China price to Monday December 31 instead of today after it was incorrectly published earlier due to a reporter error.The assessment for cif China ferro-nickel premium with 26-32% nickel content is scheduled to be published every last Monday of each month.The price, which was assessed at a discount of $250-120 per t...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday December 24* Copper -$65.91 (-455.73 yuan) Aluminium -$389.21 (-2,691.1 yuan) Zinc -$10.67 (-73.75 yuan) Nickel $127.47 (881.36 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Several of China's top smelters agreed to reduce another 800,000 tonnes of aluminium capacity in the coming days, Fastmarkets learned from the conference held in Nanning, Guangxi province in China on Friday December 21.Chalco, China Hongqiao, Hangzhou Jinjiang Group, Xinfa Group, East Hope and State Power Investment were reported to attend the conference, which aimed to lift confidence in the alum...Read More