(IDEX Online) - The world's largest vivid purple-pink diamond to be offered at auction could fetch $38m, says Sotheby's.  The ultra-rare, IF-clarity, Type IIa 14.83-carat gem was mined and cut by Alrosa and is the largest pink rough diamond ever produced in Russia.It has been named after a celebrated Russian ballet, The Spirit of the Rose and will be offered at the Magnifi...Read More

The wait time for aluminium to be delivered from Istim's London Metal Exchange-registered warehouses in Port Klang, Malaysia was still over two months at the end of September, according to the latest LME queue report, and market participants believe it has grown even longer since the start of October. The queue was 61 days for aluminium on the last day of September, according to data released on M...Read More

RAPAPORT... Sotheby's will sell the largest vivid-purple-pink diamond ever to appear at auction, with expectations it could achieve up to $38 million at a November sale.The oval modified brilliant-cut, 14.83-carat, fancy-vivid-purple-pink, internally flawless, type IIa stone is set to go under the hammer at the Magnificent Jewels and Noble Jewels auction in Geneva on November 11, Sotheby's said Mo...Read More

RAPAPORT... Dominion Diamond Mines' sale of Ekati is off the table after the buyer failed to agree on an arrangement with insurers to cover future costs of the site.Affiliates of the Washington Companies, Dominion's owner, were due to acquire the Canada-located diamond mine for $126 million. However, talks between the purchaser and three issuers of surety bonds - Aviva Insurance Company of Ca...Read More

Aluminium producer Vedanta has named trading houses Gerli Metalli Spa in Italy and Conexus Resources Ltd in London as two new European marketing agents, according to letters seen by Fastmarkets.Gerli will be responsible for marketing Vedanta's value-added aluminium products (VAP) in Italy, Slovenia, Slovakia, Croatia and Bosnia and Herzegovina, while Conexus will market Vedanta's VAP in Turkey, Bu...Read More

Finland is building up Europe's next stage of battery metal evolution with Terrafame's new battery chemical plant, and trading house Trafigura is squarely in the mix. With Terrafame, Finland's government has resurrected the assets of formerly defunct Talvivaara Mining, and is shaping up to bring about the world's largest nickel sulfate plant early next year. Having initially invested in Terrafame...Read More

Goldman Sachs has hired Nicholas Snowdon as a metals strategist in London, Fastmarkets understands.Snowdon joins from Deutche Bank and...Read More

The LME three-month zinc price climbed more than 1% during morning trading on Monday October 12, while the fresh cancelation of some 11,650 tonnes of copper from LME warehouses in New Orleans failed to spark upward momentum in LME futures. Zinc's outright price on the LME was recently trading at $2,455 per tonne, climbing from a morning low of $2,403.50 per tonne, while turnover was strong at more...Read More

Aluminium producer Rusal has announced plans to switch the reduction area of its Krasnoyarsk aluminium smelter (KrAZ), in Russia, to a new type of raw material to reduce emissions. It will use eco-friendly pitch, which is less tarry in nature and its application in the aluminium production process is less harmful for the environment. The implementation of this and other technical innovations at Kr...Read More

Hot-rolled coil prices in the United States have again moved higher, with some mills holding off from making offers, demand continuing to rise slowly and supply remaining restricted by mill idlings, outages and a slab shortage, Fastmarkets understands. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $32.35 per hundredweight ($647 per short ton) on Monday October 12, u...Read More

(Updates prices) By Peter Hobson LONDON, Oct 12 (Reuters) - Copper touched a three-week highon Monday as demand from top consumer China and the threat ofstrikes by miners in Chile pushed prices closer to 27-monthhighs reached in September, though a strengthening yuan limitedgains. Benchmark three-month copper on the London MetalExchange (LME) was down 0.2% at $6,748 a tonne at 1600 GMT aftergoing...Read More

European buyers of hot-rolled coil continue to hold back from making deals, preferring to watch the market until a global trend emerges, sources told Fastmarkets on Monday October 12. Fastmarkets calculated its daily steel HRC index, domestic, exw Northern Europe at ?,?493.33 ($583.23) per tonne on Monday October 12, down by just ?,?0.17 per tonne from ?,?493.50 per tonne on October 9.The index wa...Read More

Steel slab exports from Russia were unlikely to be significantly affected by an anti-dumping probe started in Mexico in September, because of the lack of domestic production and the rising flat-steel rolling capacities in the country, market sources have told Fastmarkets.The Mexican economy secretariat launched an anti-dumping investigation into imports of steel slab from Russia and Brazil after i...Read More

The domestic steel rebar price in Russia's Central Federal District around Moscow was unchanged in the week to Monday October 12, while local producers are considering new increases for November, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was at 40,000 roubles ($521) per tonne on October 12, including 20% VAT,...Read More

Domestic flat steel prices in Russia's Central Federal District around Moscow were largely flat in a week to Monday October 12, despite producers' bullish attempts to raise prices. Buyers are cautious of further rises in the hot-rolled sheet segment because of slowing downstream demand and sufficient stocks, sources told Fastmarkets on Monday. Hot-rolled sheet Fastmarkets' weekly price assessment...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Monday October 12, but sentiment has turned more bullish, especially in aluminium, since China returned from its Golden Week holiday.* Expectations for extra stimulus in the United States have kept equities buoyant.* China’s markets underpinned by steady recovery and by the fact it appears t...Read More

Consumer Discretionary SPDRs (XLY) moved above $153.81 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Monday October 12thCanadian equity markets are closed today for the Thanksgiving holiday. Today is Columbus Day in the United States. Equity markets are open, but banks are closed. Volume on equity markets will be lower than average. U.S. equity index futures were...Read More

Turkish steelmakers went through the first working day of the week with no deep-bookings, after the downturn in the prices in last week's deals, sources said on Monday October 12.The steel producers in the country booked three deep-sea cargoes late last week after achieving lower prices.The most recent purchases pitched the price for HMS 1&2 (80:20) grade at $283 per tonne cfr for US material on O...Read More

Domestic ship scrap prices in Turkey have gone down over the past week in line with weakening imported scrap values, but local auto bundle scrap prices were mostly stable, sources said on Monday October 12.In response to the downturn in the costs of imported scrap, the steel producers in the Izmir region - namely ID??, Habas, ?-zkan and Ege ??elik - reduced their buy prices for ship scrap by $5 pe...Read More

Seaborne iron ore prices were down on Monday October 12 following a recent announcement that environmental restrictions would be imposed on steelmakers in Tangshan slightly earlier than last year, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.23 per tonne, down $1.49 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.44 per tonne, down $1.35 per tonne58%...Read More