RAPAPORT... Star Diamond Corporation may end its partnership with Rio Tinto, stating it believes the Australian mining giant is responsible for the unnecessary breakage of large diamonds.Rio Tinto recovered 3,005 diamonds weighing a total of 131.82 carats from its most recent bulk sampling at the Star-Orion South project in Saskatchewan, Star Diamond said Wednesday. Those included 2.69-, 2.03- and...Read More

The London Metal Exchange three-month prices of copper and aluminium made small gains in trading on Thursday October 15, with the red metal rising by 1%.The LME three-month copper price closed at $6,783 per tonne, after a moderate turnover of 14,665 lots during the day.Fastmarkets analyst Andy Farida noted in his "Copper Today" report the "nearby macro headwinds" supporting the copper price, "with...Read More

(IDEX Online) - Diamond industry veteran Chaim Pluczenik has been elected president of the Antwerp World Diamond Centre (AWDC).He pledged to do all he can to help Antwerp recover from the devastating impact of the coronavirus pandemic.Mr Pluczenik takes over from Nishit Parikh, who retired after two years in office without seeking re-election.AWDC represents Belgium's diamond sector and offer...Read More

The spot market for copper scrap in the United States remained quiet week on week, with sellers finding it difficult to move material while discounts widen amid lukewarm demand. Meanwhile, the brass scrap market remained strong, supported by sustained domestic demand."The market is saturated with scrap, primarily due to soft domestic consumer demand as well as soft export demand," a major scrap co...Read More

Chinese alumina market buying interest in seaborne cargoes grew significantly this week following a steady appreciation of the yuan since Monday, with many hoping to lock in relatively cheaper material compared with the domestic market. A higher volume of inquiries and deals over the course of the week took the benchmark alumina index on an uptrend since Tuesday. Fastmarkets' alumina index, f...Read More

Chilean copper producer Codelco has offered a copper premium of $98 per tonne to its European clients on top of the London Metal Exchange price for 2021 contracts, Fastmarkets learned."We do not [think there will be any] significant changes in Europe," one company source said. Starting in 2019, Codelco introduced flexible terms...Read More

The three-month nickel price on the London Metal Exchange held on to gains made earlier in the week during morning trading on Thursday October 15, despite a downturn in Chinese producer and consumer prices last month prompting selling pressure, while a fresh cancellation in tin kept the metal's price elevated. Nickel's outright price on the LME was recently trading at $15,395 per tonne, holding We...Read More

Prices for steel reinforcing bar in the United States again held steady week on week, with domestic mills still generally collecting the majority of their price increases announced in early September. Market participants said that last month's $40-per-ton ($2-per-cwt) price increase from US mills so far has resulted in transaction prices that are $12-35 per short ton ($0.60-1.75 per hundredweight)...Read More

Base metals prices on the LME and the SHFE were mixed this morning, Thursday October 15, with concerns over the spread of Covid-19 and the reduced likelihood of a US stimulus package any time soon dampening optimism.* Governments in Europe are trying to avoid widespread lockdowns, but Covid-19 is spreading alarmingly.* United States 10-year treasury yields slip as traders turn more risk-off.Base m...Read More

Drill results multiply value options in front of YandalSPONSOREDyandal resourcesGold production was slightly higher than in the second quarter due to stronger performances from the Carlin mine of Nevada Gold Mines in USA and Pueblo Viejo in Dominican Republic, its two jointRead More

ArcelorMittal Europe has announced details of the CO2 technology strategy that will enable it to offer its first 'green steel' solutions to customers this year, the company said on Tuesday October 13.A two-pronged approach to CO2 technology will enable it to offer 30,000 tonnes of green steel in 2020, which will be scaled up to 120,000 tonnes in 2021 and 600,000 tonnes by 2022, the company said."O...Read More

Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRamelius now among WA gold frontrunnersSPONSOREDramelius resourcesAgile Mining - The Future is Smaller. Bigger is not always betterSPONSOREDproudfootThe company announced this week the first hole at Porvenir was completed at 909.3m depth, having intersected 893.4m of vis...Read More

Steel billet and rebar prices remained stable in Egypt in the week to Thursday October 15 while trading activity was modest amid a lack of clarity over market conditions, sources said.Several market sources reported that safeguarding duties for imported billet and rebar had been reduced in the country earlier in the week, although no official documents had been provided to Fastmarkets by the time...Read More

Drill results multiply value options in front of YandalSPONSOREDyandal resourcesNorthern Star Resources and Saracen Mineral Holdings continued their domination of this year's conference by jointly taking out the Dealer Award for their separate acquisitions of the Super Pit.Saracen boss Raleigh Finlayson and Northern Star executive chairman Bill Beament accepted the award, with Finlayson speaking f...Read More

Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Thursday October 15 with buyers preferring to hold back from making new deals until the price trend becomes clear, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?495.63 ($582.18) per tonne on Thursday October 15, up by ?,?0.63 per tonn...Read More

The domestic and export billet prices in Turkey have gone down slightly over the past week in line with the downturn in scrap costs, sources said on Thursday October 15.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $287.22 per tonne on Wednesday October 14, down from $291.59 per tonne on October 7.As a result, Turkish steelmakers reduced their offers for...Read More

Vertex Pharmaceutical (VRTX), a NASDAQ 100 stock moved below $253.97 extending an intermediate downtrend. Verizon (VZ), a Dow Jones Industrial Average stock moved below $58.03 setting an intermediate downtrend.AT&T (T), an S&P 100 stock moved below $27.45 extending an intermediate downtrend.  Pre-opening Comments for Thursday October 15thU.S. equity index futures were lower this morni...Read More

Turkish steel producers went quiet in the deep-sea scrap markets once again on Thursday October 15 after the recent slight upturn in prices. The most recent cargo from the US marked the HMS 1&2 (80:20) price at $287 per tonne cfr on Wednesday October 14, compared with the previous US cargo sold at $285 per tonne on the same basis. But the prices of downstream rebar and billet exports were down in...Read More

Demand in India for steel and ferrous scrap will remain subdued for the rest of this year, while Pakistan and Bangladesh both show stronger demand, Zain Nathani has said during the online Bureau of International Recycling (BIR) 2020 World Recycling Convention.Nathani, managing director of Mumbai-based steel raw materials supplier Nathani Group, gave an overview of the South Asia ferrous and steel...Read More

Seaborne iron ore prices declined slightly on Thursday October 15 with some market participants sensing the start of some price stability after several consecutive downward corrections, trade sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $118.70 per tonne, down $0.82 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.04 per tonne, down $0.94 per tonne58% Fe fines high-grad...Read More