Prices in Asia for hot-rolled coil (HRC) have fallen in the past week on hectic selling by traders, market sources told Fastmarkets on Monday July 15.Fastmarkets' price assessment for steel HRC import, cfr Vietnam - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $510-515 per tonne cfr on July 15, down by $5-7 per tonne from $517-520...Read More
RAPAPORT...ABN Amro has scaled back its financing of rough-diamondpurchases, citing a lack of profitability in the manufacturing and tradingsectors. The Dutch bank will only offer credit if the buyer canmake money from the rough, its Antwerp branch said in a letter to clients Friday.It called on the trade to show restraint by purchasing rough only when that is the case. "For some time, we and the...Read More
Turkey's biggest steel producer, Erdemir Group, has denied making an offer to acquire struggling UK long steelmaker British Steel, it said in a stock exchange disclosure late on Sunday July 14."In some news published in [the] international media and reflected in the [Turkish] national media, it was claimed that our company made an offer for the acquisition of British Steel," the disclosure said. "...Read More
RAPAPORT... Members of the Israel and Shanghai diamond exchanges are set to sign a cooperation agreement during the inaugural Israel Diamond Week that opens in the Chinese city on Tuesday.The three-day event marks the first time Israeli diamantaires are displaying their goods in an official capacity to members of the Shanghai Diamond Exchange (SDE), which organized the meet in partnership wit...Read More
Import prices for rebar in Singapore have narrowed upward over the past week on continued demand from end-users.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $494-495 per tonne cfr on Monday July 15, narrowing upward by $4 per tonne cfr from a week earlier.There wa...Read More
Zimbabwean media reported that the country's diamond roduction is about to increase significantly as the Chinese firm Anjin Investments is about to resume diamond mining at Chiadzwa. At the same time, the Zim government is about to sign a new agreement with Russian miner Alrosa next week. Winston Chitando, Minister of Mines and Mining Development said in an interview with the Star radio stat...Read More
RAPAPORT... India has introduced an import classification code solely for lab-grown rough diamonds, enabling the industry to keep better watch of syntheticsentering the country.The government has separated the Indian Trade Clarification(ITC) code for rough synthetic gemstones into diamonds and non-diamonds, theGem & Jewellery Export Promotion Council (GJEPC) reported last week. Themove wi...Read More
A new era of cooperation between the Israeli and Chinese diamond industries will be launched this week, when the first Israel Diamond Week opens in Shanghai on July 16, 2019. Jointly organized by the Israel Diamond Exchange (IDE) and the Shanghai Diamond Exchange (SDE), the event will take place at the SDE from July 16 - 18, 2019. This is the first time that Israeli diamantaires have been of...Read More
Namibia's Minister of Mines and Energy, Tom Alweendo, said at the conclusion of the sixth meeting of the African Diamond Producers Association (ADPA) Council of Ministers that was held in Windhoek earlier this month, that he remains adamant that rough diamonds have the potential to contribute to improving the lives of citizens and not only generate revenue for the state. "For centuries...Read More
The price of steel slab imported in Southeast Asia and East Asia fell over the week to Monday July 15 because of the weakening prices in the downstream hot-rolled coil market weighing on market sentiment, market sources said.Fastmarkets' assessment of the steel HRC import, cfr Vietnam, price was $510-515 per tonne for the week ending on Monday July 15, down by $5-7 per tonne from...Read More
Various news sources - national and international - picked up the news that a delegation from the Indonesian Chamber of Commerce (KADIN) had arrived in Israel, and, among others, visited the Israel Diamond Exchange. The Indonesian delegation toured the four-tower diamond exchange complex and met with IDE and other officials. The Indonesian delegation was headed by Mufti Hamka Hassan, Vice Preside...Read More
China's hot-rolled coil prices bounced back on Monday July 15 after the futures market strengthened after the release of economic data for the first half, while expectations of a drop in supply provided additional support.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($559-562) per tonne, widening upward by 10 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 20 yuan per...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Shockwaves from Tsingshan's new stainless steel hub in Indonesia are reverberating across South East Asia and beyond, according to Wood Mackenzie.“Competitively priced exports of Indonesian stainless product have provoked varyin...Read More
RAPAPORT... Michael Hill will hand out between AUD 10 million ($7million) and AUD 25 million (just under $17.5 million) to compensate retail employeesin Australia, after discovering it had been underpaying them. The jeweler had been wrongly applying the pay rates mandatedby the Australian government's General Retail Industry Award document, itadmitted in a statement Wednesday, following a review....Read More
Newfield Resources has progressed with blasting to access an underground mine decline at its Tongo diamond mine, in Sierra Leone.The company has excavated 42 600 m3 of material, with three blasts conducted so far and two blasts remaining, to bring the boxcut to the desired elevation for the portal access to be opened up.AdvertisementOnce blasting and excavation are completed, the boxcut side walls...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Wood Mackenzie's research analysts have over 40 years' experience understanding and forecasting natural resources industry performance across exploration, extraction and production, refining and financial markets.We produce annual, ha...Read More
Finland-focused diamond exploration company Karelian Diamonds on Monday announced that it had conditionally raised £100 000 from a new investor, Martello Holdings.Martello subscribed for 2.5-million new ordinary shares at 4p each – a premium of about 31% to the closing mid-market price of 3.05p a share on Friday.AdvertisementThe subscription shares represent about 6.8% of the shar...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company is on track to report an operating profit for 2019, as production from the Lulo and Mothae diamond mines, in Angola and Lesotho respectively, continues to ramp up.Lucapa on Monday reported that some 10 217 ct of diamonds were recovered during the three months to June, bringing the first half production to 20 505 ct.Advertisement...Read More
Australian miner Mount Gibson Iron shipped a total of 2.93 million wet metric tonnes of high-grade iron ore in the year to June 30, 2019, which was within the company's sales guidance range of 2.7-3.3 million wmt.The iron ore producer had shipped 607,000 wmt of iron ore in the April-June quarter, of which 370,000 wmt consisted of its new high-grade fines mined at its Koolan Island mine in the nort...Read More
The second translocation of elephants from diamond miner De Beers’ Venetia Limpopo Nature Reserve (VLNR), in South Africa, to Zinave National Parks, in Mozambique, has been completed.The first herds of elephants were corralled at the VLNR on June 25, before being transported by road for about 1 700 km, and released at Zinave on June 27.AdvertisementThe final herds arrived at Zinave this...Read More