The price range for mesh-quality wire rod in Europe has narrowed by ?,?5 per tonne at both ends over the past week, in a largely stable market, sources told Fastmarkets on Wednesday June 12.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was ?,?505-515 ($572-583) per tonne delivered on Wednesday, compared with ?,?500-520 per tonne delivered on June 5."It'...Read More
Alrosa, the world's largest diamond miner in volume, said that in May of this year it had sold $266 million of rough and polished diamonds. Rough diamond sales amounted to $261.1 million, while polished diamond sales stood at $5 million. The Russian miner's total rough and polished diamond sales in the January-May period came to $1.589 billion - $1.5649 billion of rough and $24.1 million...Read More
For more than 1000 years, India was the world's principal producer of diamonds, with Arabs and Persians dominating the trade between India and Europe. In those days, diamonds were valued mostly for their talismanic properties or as carving tools, owing to their extreme hardness and the fact that it was impossible to cut and polish them into beautiful gems. On June 19, Christie's in New...Read More
A license to operate a diamond mine in Angola has returned to the state because the company to which it had been granted, Sociedade Mineira de Camachia Camagico, had accumulated debts in excess of US$530 million, it was reported in the Angolan press. The decision announced on Saturday by the president of Angolan diamond company Endiama, Ganga Junior, is due not only to debts to creditors, supplier...Read More
TSX- and Nasdaq-listed Mountain Province Diamonds has discovered a new kimberlite at its Gahcho Kué joint venture (JV) leases – the first to be discovered in the area in more than two decades.The Wilson kimberlite, which was named after Canada’s first female geologist, Alice Evelyn Wilson, is located about 200 m east of the Tuzo kimberlite and is well within the openpit mine pla...Read More
Marange villagers have expressed unhappiness after military backed Anjin Investments, that left a trail of destruction and empty promises resurfaced to start operations under unclear circumstances, various media sources in Zimbabwe reported . Anjin Investments was part of the multi company regime which commenced formal diamond mining at Chiadzwa after the discovery of the precious mineral. Its sha...Read More
Aim-listed Botswana Diamonds’ associate, Vutomi, has received approval to sell 256 ct of rough diamonds recovered during a bulk sampling programme at the Thorny River project, in South Africa.The sale of diamonds from bulk sampling will enable the further development of the project.AdvertisementTrenching by Botswana Diamonds has identified a “hotspot” at Thorny River, with a thic...Read More
Turkish steel mills booked more cargoes as they looked to take advantage of falling prices, sources said on Wednesday June 12.A steel mill in the Iskenderun region booked a Canada-origin cargo, comprising 10,000 tonnes of shredded or HMS 1&2 (95:5), 8,000 tonnes of rail and 12,000 tonnes of plate and structural (P&S) at an average price of $305...Read More
Seaborne iron ore prices were generally rangebound on Wednesday June 12, while buying interest remained for Australian Pilbara Blend products.MB 62% Fe Iron Ore Index: $106.60 per tonne cfr Qingdao, down $0.01 per tonne. MB 62% Fe Pilbara Blend Fines Index: $105.40 per tonne cfr Qingdao, down $0.01 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $111.10 per tonne cfr Qingdao, up $1.89 per tonne....Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at...Read More
Prices of seaborne coking coal bound for China continued to weaken on Wednesday June 12 with buyers still holding back from purchasing amid a pessimistic outlook for the market.A June-loading cargo of a top Australian brand was sold to an end user in eastern China at the June average of an index at a premium of around 4% during the day, sources told Fastmarkets.A cargo of second-tier hard coking c...Read More
Altech ticks boxes on path to production SPONSOREDaltech chemicalsIt is a question that the two mining heavyweights are grappling with now, as they should be, given there is a growing body of thought that steel demand has peaked just as scrap recycling in ChinaRead More
The prospect will be tested with the next phase of drilling, though the exact timing of the work wasn't specified by Hot Chili.Read More
China's domestic rebar prices withdrew on Wednesday June 12 on lower list prices and declining futures.Domestic Eastern China (Shanghai): 3,880-3,920 yuan ($561-567) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,790-3,840 yuan per tonne, down 10-20 yuan per tonneA few major rebar producers lowered their ex-works prices over the past two days, which put pressure on the spot market, s...Read More
Eastern China's hot-rolled coil prices retreated on Wednesday June 12 after trading thinned following a short-lived rebound a day earlier.DomesticEastern China (Shanghai): 3,830-3,840 yuan ($554-555) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,780-3,800 yuan per tonne, unchangedTrading activity fell after prices bounced back on Tuesday, tracking an overall retreat in the country's...Read More
Base metals traded on the London Metal Exchange were largely suppressed during morning trading on Wednesday June 12 amid fresh US-Sino trade tension, uninspiring Chinese economic data and a dive in the United States' equities market.The increasing unlikelihood of a meeting between Chinese President Xi and United States President Donald Trump is the overwhelming factor renewing trade tensions and e...Read More
Key data from the Wednesday June 12 pricing session in London.Key drivers- Stagnant demand forced some traders to reduce their offers to offload material. The increase on the Wuxi Stainless Steel Exchange, which boosted Chinese prices, was not enough to positively affect the European market.- Sources do not expect rebounds in the European market before...Read More
Minor metals could become the next commodities to be caught up in the trade war between the United States and China, market sources have warned. But the effects on the prices for gallium and antimony have so far been minimal.The government in Beijing has made a number of gestures suggesting that it could restrict the export of rare earths to the US.These threats have met with some skepticism among...Read More
U.S. equity index futures moved lower this morning. S&P 500 futures were down 5 points in pre-opening trade.Index futures were virtually unchanged following release of the May Consumer Price Index report at 8:30 AM EDT. Consensus was an increase of 0.1% versus a gain of 0.3% in April. Actual was an increase of 0.1%. Excluding food and energy, consensus for the May Consumer Price Index was an i...Read More
Key data from the Wednesday June 12 pricing session in Europe.Key drivers- The European ferro-titanium price fell for the third consecutive week after six weeks of stability. - Demand has quietened after an initial bout of short-covering from mid-April when major European producer FE Mottram announced a production stoppage after a fire damaged its plant in the...Read More