A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 20.The new LME warrant premiums table...Read More

Zinc premiums crept up in Northern Europe on Tuesday March 19 after buyers were enticed by a price retreat earlier this week; lead markets were largely stable except in India where there were further drops due to a temporary surge in Iranian supply. Northern European zinc buyers are active in the spot market this week, causing premiums to narrow up. China's zinc premium softened amid a close...Read More

Tin premiums were flat across the board on Tuesday March 19, with US tin premiums continuing to face downward pressure from new market entrants, while European market participants await tangible inflows against a backdrop of Indonesian political elections and Chinese premiums keep firm amid a closed import window. US market receives discounted premiums amid slow demand  Spot inactivity, supp...Read More

Norsk Hydro will restart certain rolling and extrusion operations to allow for continued deliveries to customers, a day after a cyber attack caused temporary halts on its operations, chief financial officer Eivind Kallevik said in a press release on Wednesday March 20.In an earlier press release on Tuesday, Kallevik said every unit was isolated from the company's global network to prevent the atta...Read More

Slow demand and continued negative sentiment have caused wire rod prices in the United States to edge lower while the cost of imported material remains steady, Fastmarkets AMM has learned. Fastmarkets' assessment for industrial quality (IQ) low-carbon wire rod widened downward to $38-40 per hundredweight ($760-800 per short ton) fob mill on Tuesday March 19, down from $38.25-40 per cwt previously....Read More

Crude steel production in Argentina fell by 23.75% year-on-year in February, according to figures released by national steel association Acero Argentino on Wednesday March 20.Production came to 318,200 tonnes, compared with 417,300 tonnes in the corresponding period a year earlier.February's crude steel output also declined by 14.21% from the previous month's level of 370,900 tonnes.Due to...Read More

Indian steelmakers represented by the Indian Steel Association (ISA) have urged the country's government to take immediate action to ban imports of steel products that originate in Iran, Fastmarkets has heard.According to the ISA, India imported around 65,000 tonnes of flat steel products of Iranian origin in the first two months of 2019. The material was said to have been transshipped through the...Read More

Domestic prices for hollow steel sections in Southern Europe edged up on Wednesday March 20, but are expected to match the stability seen in Northern Europe in the next few weeks, market sources told Fastmarkets.Fastmarkets' weekly domestic price assessment for commodity-size, grade-S235 square hollow sections made in Southern Europe widened upward by ?,?5 per tonne this week, to ?,?630-650 per to...Read More

Steel beam prices in the Northern European market have fallen this week following a halt in the growth of feedstock prices, sources told Fastmarkets on Wednesday March 20.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe went down by ?,?5 per tonne to ?,?610-635 ($692-721) per tonne delivered on March 20, from ?,?610-640 per tonne deliver...Read More

The price for rebar produced and delivered in Southern Europe remained flat on Wednesday March 20, after narrowing upward last week while producers continued to put pressure on prices.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?515-520 ($584-590) per tonne delivered on Wednesday, after climbing from ?,?510-520 per tonne a week ago.Prices have...Read More

The price range for rebar produced and delivered in Northern Europe stayed flat on Wednesday March 20, although higher scrap prices were adding to the pressure that suppliers exerted in negotiations.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe remained at ?,?540-550 ($613-624) per tonne delivered on Wednesday, while buying activity remained modest against the current...Read More

Low expectations for Basel show amid weak large-stonedemand and fewer diamond, jewelry and watch exhibitors. US stable, with good ordersfor commercial-quality 0.70 to 1.99 ct., G-J, SI-I2 diamonds. Shortagesdeveloping for better qualities as India cuts back production. Rough marketquiet, with deep concerns about manufacturing profitability. Alrosa 2018revenue +9% to $4.6B, profit +15% to $1.4B. De...Read More

Sentiment weak amid slowpolished trading. Foreign buyers looking for bargains and pushing for deeperdiscounts on goods below 0.50 ct. Local dealers cautious, despite boost fromrupee's rise to INR 68.6/$1. Liquidity tight due to overseas purchasers delayingpayments, and businesses settling accounts before the financial year-end. Roughmarket subdued as cutters try to reduce polished inventory and av...Read More

RAPAPORT... Fugitive jeweler Nirav Modi was arrested in central LondonTuesday on behalf of Indian authorities, the city's police said. Modi will appear at Westminster Magistrates' Court Wednesday, the Metropolitan Police said in a statement. The diamond mogul, together with his uncle, jewelerMehul Choksi, allegedly defrauded India's Punjab National Bank of $2 billion - thelargest banking frau...Read More

RAPAPORT... The Diamond Producers Association (DPA) has launched an e-learning course for retail associates, with participants getting the chance to win a trip to the New York City diamond district. The free program, titled "Behind the Brilliance ofDiamonds," is an hour-long course split into three modules, providing retailerswith educational materials to help them tell the story of a diamond...Read More

RAPAPORT... Baselworld has reduced prices for diamond exhibitors by 10%to 15%, after rising costs had prompted companies to abandon the annual show. The move ensures its prices match those of the competing GemGen??vefair, a Baselworld spokesperson told Rapaport News Tuesday. The 2019 edition of Baselworld, beginning Thursday, willstill see a 10% drop in the number of exhibitors in Hall 3, which h...Read More

South Africa's Petra Diamonds (LON:PDL) is keeping founder Adonis Pouroulis as chairman, despite some shareholders voting against his renewal at the 2018 annual general meeting.The company, which last month appointed former gold miner Richard Duffy as chief executive effective in April, said the appointment of a new chair was "not appropriate" at this time.Petra said the board and nomination comm...Read More

The investors portal www.proactiveinvestors.co.uk published a relatively optimistic new item about Zimbabwe's economic liberalization, arguing it is proceeding with gusto. "It's not always been an easy process, to be sure, as the widespread unrest related to increased fuel prices bears witness to." The article noted that President Emerson Mnangagwa "has set out his stall, particularly on inflation...Read More

The American Society of Appraisers (ASA) has a new CEO, Johnnie White.  The American Society of Appraisers is the US' oldest and only major appraisal organization representing all appraisal specialists. White is an association professional with more than 27 years serving in a variety of management and leadership roles. As CEO, he will lead ASA's continued international visibility and world-w...Read More

Petra Diamonds’ board has decided that its chairperson Adonis Pouroulis should remain in his position for now.Following a November meeting with shareholders, during which 22.12% of shareholders voted against his re-election as chairperson, the board and nomination committee considered the concerns raised by shareholders.AdvertisementHowever, Petra on Wednesday said it does not consider the a...Read More