London Metal Exchange base metal prices were little changed in morning trading on Tuesday November 6, with the market pausing for direction after taking heavy losses on Monday. Three-month copper price is down $13 against yesterday's 5pm closing price at $6,118 per tonne, while aluminium futures are up by just $4 at $1,979 per tonne and zinc is down by $4 to $2,558 per tonne. Industrial metal mark...Read More
TOKYO/GENEVA, Nov 6 (Reuters) - A World Trade Organization (WTO) dispute panel largely upheld Japan's complaint against a safeguard duty imposed by India on steel imports for two-and-a-half years, a ruling published on Tuesday showed.The ruling, which can be appealed by either side, said India had broken the WTO rules and urged India to take corrective action, even though the disputed duties ended...Read More
* Iran says it is selling oil it needs to, despite U.S. pressure* U.S. crude production seen averaging 12.06 mln bpd in 2019 -EIA* U.S. crude stocks rise by 7.8 mln barrels, topping views (Updates with API data)By Stephanie KellyNEW YORK, Nov 6 (Reuters) - Oil prices fell on Tuesday, with U.S. crude futures hitting an eight-month low, a day after Washington granted sanction waivers to top buyers o...Read More
MUMBAI, Nov 6 (Reuters) - Former Reserve Bank of India Governor Raghuram Rajan defended the central bank's call for greater autonomy from the government, saying ultimately the nation stands to benefit from an independent and robust RBI.In an interview on CNBC-TV 18 telecast on Tuesday Rajan said current rift between the central bank and the government can be resolved if both sides respect each oth...Read More
The US Supreme Court seems inclined to support a Virginia law that bans mining at the nation's largest known uranium deposit due to public health and economic reasons, as it begins to hear a challenge to the prohibition brought forward by the owners of the property, with support from the Trump administration.On Monday, the justices considered whether Virginia's moratorium on uranium mining clashes...Read More
Investing.com - Gold prices moved higher on Tuesday as voting in the U.S. midterm elections got underway and traders opted for safety ahead of the outcome.At 9:13 AM ET (14:13 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange gained $4.40, or 0.36%, to $1,234.20 a troy ounce.Voters on Tuesday will decide key races in Congress and state governments,...Read More
RAPAPORT... Pandora has lowered its revenue expectations for the thirdtime this year following a disappointing quarter, and will implement a new programto cut costs. The Danish retailer had an "unsatisfactory" third quarter,with global sales down 4% year on year to DKK 4.98 billion ($761.5 million). Theretailer has therefore reduced its full-year revenue-growth outlook to between2% and 4%, fr...Read More
RAPAPORT... Chinese e-commerce giant Alibaba will collaborate with theAntwerp World Diamond Centre (AWDC) to bring Belgian diamonds to Chineseconsumers. Through the partnership, Shape of Antwerp diamonds will besold exclusively on the Chinese retailer's Tmall online marketplace. "Chinese consumers love Antwerp diamonds, and China is thesecond-largest market in the world for polished diamonds...Read More
RAPAPORT... Lev Leviev faces questioning over diamond-smugglingallegations that have led to six of his relatives and employees being arrested,according to reports.Israeli police detained Zevulun and Moshe Leviev, thetycoon's son and brother, who ran a factory that Lev Leviev owned, according toThe Times of Israel. The other four suspects held senior positions in thetycoon's companies, the report s...Read More
Canadian miners' performance slipped in the three months leading to the end of September, due mostly to weaker gold, nickel, copper and zinc prices, the latest report by consultancy Ernst & Young (EY) reveals.Following a 5% drop between April and June this year, gold prices decreased by another 5% in the third quarter, mainly due to the strong US dollar and the recent Federal Reserve rate hike of...Read More
Surge Exploration (TSX?EUR?V: SUR) announced today that it will acquire up to 100% of the Atacama Cobalto Exploration Property near Copiap??, northern Chile.Surge said that in order to complete the transaction, it will sign a formal agreement with Compa???-a Minera del Pac?-fico S.A. or CAP Mineria before the end of the month.The 1,059-hectares Atacama Cobalto Project is located in the Atacama Pro...Read More
RAPAPORT PRESS RELEASE, November 6, 2018, New York... Polished-diamond prices softened in October as inventory levels rose ahead of the Diwali festival. Despite the decline, sentiment improved, with expectations growing for the US holiday season. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds fell 0.9% in October. The index was up 1.3% since the beginning of the year and 0.7% from a year...Read More
(IDEX Online) - CIBJO, the World Jewellery Confederation, has been certified as being carbon neutral in 2017, the fifth straight year that offset its greenhouse gas emissions through the purchase of carbon credits. It did so as part of the CIBJO Greenhouse Gas Measurement Initiative that was launched several years ago to promote environmental consciousness and responsibility in the jewelry...Read More
RAPAPORT... Global demand for gold jewelry rose 6% year on year to 535.7tonnes in the third quarter, as reduced prices drove consumer purchasing, theWorld Gold Council (WGC) said. Orders for gold jewelry in India climbed 10% to 148.8 tonnesin the three months ending September 30, as the price of gold dipped to itslowest level since January. In addition, the sharp growth was also due to relati...Read More
Canada's Diamcor Mining (TSX-V.DMI), announced today that following its previous release on the initial tender of 2,606.50 carats of rough diamonds recovered from resumed processing exercises at the company's Krone-Endora at Venetia Project in South Africa, it delivered an additional 5,335.83 carats of rough diamonds before the end of October. The tender for the rocks will be completed in November...Read More
(IDEX Online) - The third quarter of 2018 was unsatisfactory and group revenue decreased 3% in local currency due to timing of shipments, change of inventory levels in the wholesale channel and negative total like-for-like, the jewelry-maker reported. Due to the unsatisfactory Q3 2018 performance, a lower than expected tailwind from forward integration as well as a weak start to the fourth...Read More
(IDEX Online) - Lucapa Diamond Company and its partners have announced the discovery of a new alluvial source of large and premium-value diamonds at the Lulo diamond project in Angola. "To date, the diamonds mined from Lulo - the world's highest average US$ per carat alluvial production - have been sourced predominantly from the terrace deposits along the Cacuilo River valley," Lucapa said....Read More
(IDEX Online) - The Antwerp World Diamond Centre and the Alibaba Group have signed an exclusive partnership to offer Antwerp certified diamonds to Chinese consumers via Alibaba's B2C marketplace, Tmall. The cooperation agreement was signed in the framework of the first China International Import Expo (CIEE), which is being held this week in Shanghai, the AWDC said. The Antwerp diamo...Read More
RAPAPORT... Lucapa Diamond Company hasextracted 1,502 carats of rough during testing at a new alluvial diamond sourceadjacent to its Lulo mine in Angola. The yield included 17 stonesweighing more than 10.8 carats each, as well as a 55.30-carat, D-color, typeIIa stone. The average diamond size was 1.40 carats, Lucapa said. The new source is located in thepreviously untested flood plains at Lul...Read More
The Turkish steel mills have resumed their deep-sea scrap purchases for December deliveries with prices remaining strong in the latest transaction, sources said on Tuesday November 6.A steel mill in the Marmara region booked a European cargo late on November 5, comprising 20,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 10,000 tonnes of a mixture of HMS 1 and plate and structural sc...Read More