Turkish steel producers continued holding back from the deep-sea scrap markets on Tuesday February 26 because of the weak demand for their finished steel products in the country's domestic and export markets.The steel producers in the country went quiet at the end of last week after booking a Baltic Sea cargo, which sent prices down by $20 per tonne week on week."Turkish producers are not in very...Read More

Lithium producer share price weakness is a reflection of the supply response that started in 2018, head of base metals and battery materials research William Adams said.Lithium producers' share prices have generally been under pressure since late 2017. In the chart below, producers' share prices are up 15% on average from their 52-week low price. We see this as a reflection of the supply response...Read More

The process to resume full production at Hydro's Alunorte alumina refinery in Brazil has hit a further setback, after an accident with an iron ore tailings dam at a mine from Vale prompted a round of inspections throughout the country, sources told Fastmarkets. Market participants do not expect the Brazilian refinery to resume normal operations anytime soon. Traders and producers initially expecte...Read More

Base metals prices on the London Metal Exchange were mixed during morning trading on Tuesday February 26, with copper, nickel and zinc futures holding gains amid a decline in Asian equities while ongoing US-China trade talks continue to indicate a potential trade resolution. Three-month copper futures continue to trade around $6,500 per tonne amid the continued removal of material, with on-warrant...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday February 26* Copper -$186.61 (-1,253.04 yuan) Aluminium -$332.74 (-2,234.26 yuan) Zinc -$120.26 (-807.52 yuan) Nickel -$313.42 (-2,104.55 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More

After recent strong performances by the base metals traded on the London Metal Exchange, most prices started to consolidate at the beginning of the week and are down an average of 0.3% this morning, Tuesday February 26.Copper and tin prices have been the strongest on the upside in recent weeks, with warrant cancellations in copper tightening up liquidity on the LME copper contract, while further s...Read More

Base metals traded on the Shanghai Futures Exchange were all down during morning trading on Tuesday February 26, with nickel leading the complex lower.The weakness in the base metals follows strong gains on Monday after the market reacted positively to the news that US President Donald Trump had postponed a planned increase in tariffs on Chinese goods due to progress made in US-China trade talks.B...Read More

Botswana has offered to lend Zimbabwe $600 million to support its diamond industry and local private firms, a state-owned newspaper reported on Tuesday, amid a severe dollar crunch in the southern African nation.There are few signs the flow of foreign currency is improving in Zimbabwe after it ditched a discredited 1:1 dollar peg for its dollar-surrogate bond notes and electronic dollars, merging...Read More

RAPAPORT... The Swiss Gemmological Institute (SSEF) has launched aservice for linking polished gemstones to their original rough, it saidTuesday. GemTrack creates a fingerprint that documents the stone'sjourney from mine to market, based on analyses of the stone's crystallographic,structural, chemical and microscopic features. "Given the growing demand for provenance and traceability inour i...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday February 26 that are worth another look.Lithium producer share price weakness is a reflection of the supply response that started in 2018, head of base metals and battery materials research William Adams said. While the supply side is weighing on sentiment, the demand side of the equation remains extremely bullish - and inc...Read More

RAPAPORT... The Women's Jewelry Association (WJA) has appointedJacqueline Cassaway, the vice president of merchandising for Starboard CruiseServices, as president-elect. Jenny Luker will remain president and Sara Yood will continue as treasurer.Corporate secretary Rebecca Moskal, vice president of chapter affairs LaurenThompson and past president Brandee Dallow will also stay in their roles....Read More

Flat steel import prices in the United Arab Emirates and Saudi Arabia have increased over the past week, although buying activity remained limited, Fastmarkets heard on Tuesday February 26.Deals were scarce because market participants were waiting to see whether the price increases would be permanent, sources told Fastmarkets.The buyers were doubtful because raw material prices have started to dro...Read More

RAPAPORT... De Beers will combine its mining ventures in South Africaand Canada to streamline operational management and increase sustainability, itsaid Monday. The new business, De Beers Group Managed Operations, willoversee the Venetia and Gahcho Ku?(C) mines, as well as the De Beers Marineproject. The consolidation comes after the closure of the Snap Lake andVoorspoed deposits, as well as...Read More

RAPAPORT... De Beers claims it doesn't need to disclose treatments to its lab-grown diamonds, placing itself at odds with many synthetics traders pushing for full transparency in the sector.The company's synthetics brand, Lightbox, applies post-growth enhancements to its colored lab-grown diamonds, it confirmed with Rapaport News. However, it doesn't need to tell consumers, because...Read More

RAPAPORT... Profit at Sarine Technologies plunged in the fourthquarter, as sentiment in the diamond industry softened amid weaker consumer spending. The diamond technology company reported net profit fell 85% year on year to $93,000 for the threemonths that ended December 31. Uncertainties in China and tighter bank creditto India's manufacturing sector resulted in lower capital-equipment sale...Read More

The Swiss Gemmological Institute SSEF has announced the launch today of GemTrack?,,?, a new service providing expert scientific opinion linking a cut gemstone to the rough stone from which it originated, thus enabling gemmologically the documentation of part of the stone's journey from mine to market. The GemTrack?,,? service involves the combination of crystallographic, structural, chemical...Read More

Prices for steel rebar and billet imported into the United Arab Emirates have increased slightly this week because of higher offers and deal prices, sources told Fastmarkets on Tuesday February 26.The reason for the rise in the billet import price was that producers in Oman and Bahrain raised their prices for the commodity.But demand for rebar was moderate in the country, and with local supply bei...Read More

RAPAPORT... Actress and singer Lady Gaga sported a 128.54-carat yellowdiamond and platinum Tiffany necklace at the 91st Academy Awardsshow Sunday night. The Oscar winner wore the 141-year-old cushion-cut TiffanyDiamond - which originated  in the Kimberley mines in South Africa - was last seen on Audrey Hepburn at the publicity shoot for the 1961 movie Breakfast at Tiffany's. It's th...Read More

China's hot-rolled coil prices strengthened further on Tuesday February 26 despite moderate trading activity, with gains in the futures market in the afternoon providing a boost to the spot market.DomesticEastern China (Shanghai): 3,800-3,830 yuan ($567-572) per tonne, up 10-20 yuan per tonneNorthern China (Tianjin): 3,740-3,770 yuan per tonne, widening upward by 20 yuan per tonneSellers in Shangh...Read More

The company sold 121 rough diamonds with total weight of 1,950 carats. Firms from UAE, India, Belgium, Israel, Hong Kong, Russia and the USA participated in the auction, and 31 firms were recognized as winners in different positions. "ALROSA and Dubai have a longstanding partnership. Since 2014, we have been cooperating with the Dubai Diamond Exchange on industry issues; we have our trading compan...Read More