* China's U.S. scrap copper imports down 80 y/y pct in Sept* Shipments from Japan increase to fill void* Surging alumina exports head to Iceland, IndiaBy Tom DalyBEIJING, Nov 1 (Reuters) - Chinese imports of scrap metal from the United States fell in September, according to customs data on Thursday, spelling out the impact of tariffs imposed by Beijing, while India and Iceland benefited from a boo...Read More
London Metal Exchange members are considering a multitude of ways to continue to service their EU clients in the event that a financial services deal is either not forthcoming or does not go far enough when the UK finally leaves the European Union. Some companies have even told their LME sales teams they need to be prepared to move to another major European city to be able to legally service their...Read More
Turkish domestic rebar and wire rod prices went down this week because the value of the country's lira strengthened against the dollar, even though demand remained moderate, sources said on Thursday November 1.Fastmarkets' weekly price assessment for domestic rebar on Thursday was TRY3,300-3,450 ($596-623) per tonne ex-works, including 18% VAT, down from last week's TRY3,380-3,520 per tonne.The lo...Read More
The latest news and price moves to start the Asian day on Friday November 2.Comex copper prices in New York, like most base metals on the London Metal Exchange, mostly recovered on Thursday November 1, with a weaker dollar providing support to the complex. Read more in our live futures report.Here are how prices looked at the close of trading:A 10-year low in LME zinc stock volumes...Read More
Brazilian multi-metals producer Nexa Resources has maintained its production and sales estimates for the full year of 2018, although metal prices are down, chief executive officer Tito Martins said on Thursday November 1.Prices and premiums for zinc will probably continue to resist the weakness seen in other metal prices, Martins said in a conference call on the company's third-quarter results. He...Read More
Rising expectations for holiday season as ConferenceBoard's US consumer confidence index hits 18-year high in October. Steady USdemand for 1 ct., G-J, VS-SI, RapSpec A3+ diamonds, but polished pricessoftening amid India liquidity concerns. 1 ct. RAPI -0.9% in October. Roughmarket quiet, with factories closing for next week's Diwali festival. Jewelersreducing in-store inventory, using technology to...Read More
Total zinc stocks on the London Metal Exchange were at a 10-year low on Thursday November 1, prompting one of the metal's widest cash/three-month spread backwardations to date.Despite mixed market sentiment, however, the increasing tightness in zinc availability could boil down to supply flows.Zinc's cash/three-month spread ballooned to $63 per tonne on October 23 this year from $15 per tonne on O...Read More
Specialist mining investors have found a "buyer's market" for projects as the mining sector struggles to compete for funding with new industries, multiple industry executives said at a conference this week.Smaller mines and developers who previously found capital through retail investors in public markets are increasingly turning to specialist investors such as private equity or companies that see...Read More
Cautious sentiment amid several bankruptcy rumors. Polished trading steadyas dealers fill orders before the November 7 Diwali break. Consistent demandfor SI-I1 clarities in all categories. Chinese buyers drive improvement inmelee. Sales-and-distribution offices closing for one week over Diwali, andsmaller Surat factories shutting for three-to-four weeks. RoundRead More
RAPAPORT... Pink and blue fancy-color diamonds saw price increases inthe third quarter, while yellows dipped, according to the Fancy Color ResearchFoundation (FCRF).The organization's Fancy Color Diamond Index for pinks grew0.4% versus the previous quarter, while prices of blues rose 0.7%, the FCRFsaid Thursday. Rates for yellow fancy-color diamonds dropped 1%, with theoverall index down 0.1%."The...Read More
RAPAPORT... Gem Diamonds has increased its production and sales outlook forthe year after robust output during the third quarter, it said Wednesday. The miner now expects to recover 120,000 to 124,000 caratsfrom its Let??eng mine in Lesotho for the whole of 2018, compared with a forecast of 114,000to 118,000 carats it provided in March. It also anticipates selling 118,000 to122,000 carats, up...Read More
The latest metal markets news and price moves to start the North American day on Thursday November 1.Base metals on the London Metal Exchange were collectively higher during morning trading on Thursday November 1, with most metals recovering from Wednesday's dip amid a softer US dollar index and a continued drawdown in LME inventories.Pushing back above $11,500 per tonne, the three-month nickel pr...Read More
RAPAPORT... Lab-grown diamonds will feature at some of the largest US retailers this holiday season, with J.C. Penney, Macy's and Jewelry Television (JTV) anticipating strong growth in the category. Berkshire Hathaway subsidiary Richline Group will supply a new brand featuring lab-grown diamonds to J.C. Penney, the companies said in a joint statement Tuesday. The bridal collection,...Read More
RAPAPORT... Lin Qiang has succeeded Yoram Dvash as vice president ofthe World Federation of Diamond Bourses (WFDB), with the latter taking on a newrole as head of a strategic body.Qiang has served as president of the Shanghai Diamond Exchangesince its establishment in 2000. His election at the WFDB comes after Dvashstood down earlier this year to focus on his role as president of the IsraelDiamond...Read More
Russian diamond miner Alrosa has marked the official start of diamond mining operations at the Verkhne-Munskoye diamond field, which will produce about 1.8-million carats a year for the next 20 years, replacing capacity from the flooded Mir mine.Verkhne-Munskoye will be using the processing plant of the Udachny mining and processing division, which is about 170 km away. Alrosa has constructed a se...Read More
(IDEX Online News) - The IDEX polished diamond price index was down slightly in October, declining very slightly during the month. &nbs...Read More
RAPAPORT... A blue diamond ring estimated at $9 million to$12 million will go under the hammer at Sotheby's Geneva auction on November 15alongside a roster of rare colored diamonds.The rectangular-cut, 5.04-carat, fancy-vivid-blue piece is oneofthree blue diamonds set to feature at the Magnificent Jewels and Noble Jewels sale.The auction will also include earrings containing a 2.61-...Read More
(IDEX Online) - ALROSA, the world's largest diamond mining company, will hold an auction of special size rough diamonds (over 10.8 carats) and polished diamonds it has manufactured in Ramat Gan from November 4-22. The results of the auction will be announced on November 26. The company will auction 127 large gem-quality rough diamonds with a total weight of 2,244 carats. More th...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday November 1.*Copper -$116.03 (-809.22 yuan) Aluminium -$440.16 (-3,069.85 yuan) Zinc -$27.18 (-189.57 yuan) Nickel $671.76 (4,685.1 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
(IDEX Online) - Registration is now open for the eighth International Diamond Week in Israel (IDWI), to be held from January 28 - 30 at the Israel Diamond Exchange (IDE). The event has become a staple on the global diamond calendar, and attracts hundreds of international buyers from over 20 countries every year. IDWI is held on the large trading floor of the IDE. It will featu...Read More