The Executive Committee of the World Federation of Diamond Bourses gathered at the Israel Diamond Exchange in Ramat Gan, Israel, on June 24, with one of the major issues discussed being the impact of synthetic diamonds on the global diamond industry. WFDB President Ernie Blom said: "The WFDB is not opposed to synthetic diamonds as such on the market. They should, however, always be disclosed so t...Read More
RAPAPORT... The discovery of a new source-rock indicator for diamondformation has the potential to help geologists locate and identify valuablediamond deposits around the world, a study by the University of Alberta and DeBeers shows. "The outcome of the project fundamentally changes ourunderstanding of where diamonds come from," Thomas Stachel, a University ofAlberta geologist and the Canadia...Read More
Seaborne iron ore prices strengthened further on Thursday June 27, with trading activity on the Singapore Exchange's (SGX) 65% Fe iron ore derivative contract also picking up. By 5.45pm Singapore time, 125,000 tonnes of the contract had been traded and cleared, according to SGX data. This compares with 175,000 tonnes traded in the whole of last week. MB 62% Fe Iron Ore Index: $118.02 per tonne cfr...Read More
RAPAPORT... IWC Schaffhausen has named New England Patriots quarterbackTom Brady as its brand ambassador, it said Tuesday. His appointment will helpthe watch brand broaden its appeal to consumers, the company said. "Tom Brady is a world-class athlete with a sense of styleand an appreciation for fine watchmaking," said IWC Schaffhausen CEO ChristophGrainger-Herr. "Working with him will enable...Read More
Fastmarkets will two months from the publication of this notice delist and cease to publish 40 steel scrap, non-ferrous scrap and foundry ingot prices that it currently carries from third parties.The delistings are of are steel scrap prices from BDSV; aluminium alloy prices from Affimet; zinc alloy prices from Brock Metals; and non-ferrous scrap and foundry alloy prices from Lettre D'Information M...Read More
LONDON – Ever wondered where that sparkly stone on your finger was dug up? Who polished it and where? The world’s top diamond producer wants to answer all your questions.Russia’s Alrosa PJSC is rolling out a program that will allow jewelry buyers to track their diamond’s history in detail, using an identity number and electronic and video passports, as part of efforts...Read More
Weakness persisted in the seaborne coking coal market on Thursday June 27 despite news of a suspension of mining activity at a mine in Queensland, Australia.An August-loading cargo of a top Australian brand was sold to an end user in southern China at $200 per tonne cfr China, according to various sources.A shipment of premium low-vol hard coking coal was heard offered at $198 per tonne cfr China,...Read More
Carpentaria Resources expects its planned high-grade iron ore product to find interest among buyers in the Middle East while the latter looks to diversify supply options for pellet feed, managing director Quentin Hill said during an investor briefing this week."There is a supply gap in terms of both quality and quantity in the Middle East and with only three companies accounting for bulk of the su...Read More
A "more challenging" environment in China and higher than normal diamond inventories in the midstream contributed to more cautious diamond buying in De Beers' fifth sales cycle of the year, CEO Bruce Cleaver said on Tuesday.The value of De Beers' rough diamond sales decreased to $390-million in the fifth sales cycle of this year, compared with $581-million in the fifth sales cycl...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 transaction: iron oreIron ore Rio Tinto, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 61% Fe Pilbara Blend fines, traded at $113.80 per tonne cfr China, laycan July 13-22.Vale, Corex, 190,000...Read More
RAPAPORT... India's polished-diamond exports slid 15% year on year in May, reflecting a slowdown in the trade that's been evident for the past seven months. The last monthly increase was recorded in November, according to Rapaport records. The decline in May was the result of lower volumes, which outweighed an increase in the average price of goods, data from the Gems & Jewellery Export P...Read More
Eastern China's hot-rolled coil prices widened upward on Thursday June 27 amid fluctuations caused by movements in the futures market.DomesticEastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, widening upward 30 yuan per tonneNorthern China (Tianjin): 3,840-3,850 yuan per tonne, unchangedMarket participants in Shanghai rushed to buy at 3,830-3,850 yuan per tonne in the morning after...Read More
China's rebar prices regained some upward momentum on Thursday June 27 on early gains in the futures market.Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($573-579) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, up 30-40 yuan per tonneRebar futures rose to a high of 4,095 yuan per tonne in the morning, which led traders in the spot market to take thei...Read More
Import prices for stainless steel in East Asia experienced an uptick over the past week amid a recovery in the nickel market, though downstream demand remained soft.The three-month nickel contract on the London Metal Exchange ended Wednesday June 26's official trading session at $12,430-12,440 per tonne, up $480-485 per tonne from a week earlier.The increase came amid supply disruptions arising fr...Read More
The Chinese domestic cobalt metal price fell by 3.1% in the midweek pricing session due to sluggish demand during the traditionally weak consumption season causing suppliers to compete fiercely for limited inquiries in the spot market. Fastmarkets assessed the Chinese domestic cobalt metal price at 220,000-250,000 yuan per tonne ($12.85-14.61 per lb, less China-VAT) on Wednesday June 26, down...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumBut with nothing on the books just yet the pressure to secure a replacement project has been ratcheting up.Read More
Greenland shines brightly in the rare earth spotlightSPONSOREDgreenland mineralsBlack Rock readies for race to graphite productionSPONSOREDblack rock miningE25 powering towards Butcherbird PFSSPONSOREDelement 25Finally, a changed mining tech M&A landscapeSPONSOREDatricoEPA general counsel Matthew Leopold yesterday signed a memo directing the EPA to resume considering withdrawing the 2014 propo...Read More
Greenland shines brightly in the rare earth spotlightSPONSOREDgreenland mineralsBlack Rock readies for race to graphite productionSPONSOREDblack rock miningE25 powering towards Butcherbird PFSSPONSOREDelement 25Finally, a changed mining tech M&A landscapeSPONSOREDatricoCEO Neal Froneman said the option agreement would unlock immediate value for the group. In passing the baton, Sibanye believes...Read More
Greenland shines brightly in the rare earth spotlightSPONSOREDgreenland mineralsBlack Rock readies for race to graphite productionSPONSOREDblack rock miningE25 powering towards Butcherbird PFSSPONSOREDelement 25Finally, a changed mining tech M&A landscapeSPONSOREDatricoDespite the current lull from Minto's closure last year, Victoria Gold's Eagle is set to fly soon and Newmont Goldcorp's Coffe...Read More
European steelmakers voiced their concerns over the future viability of the UK steel industry, should the UK leave the European Union on October 31 without a deal, at the European Steel association's (Eurofer) European Steel Day in Brussels on Wednesday June 26.A "no deal" Brexit would mean the UK would leave the EU, and all related agreements and bodies, without a transition period. No preferenti...Read More