The latest forecasts from Fastmarkets' team of analysts is ready to view.Having found it easier to increase prices than their counterparts in Europe and the United States during the past few months, Asian stainless steelmakers now face a number of concerns.In the short term, Asian prices have moved down in recent weeks while those in Europe and the US are on the up. This is mostly a reflection of...Read More

Sentiment mixed as Nov.-Dec. holiday season begins amid continued rise in Covid-19 cases. Dealer trading slow as manufacturers focus on direct supply to jewelers. E-commerce supporting retail market. Adobe predicts online holiday sales +33% to $189B. LVMH takeover of Tiffany back on at lower price of $131.50 per share ($15.8B). Blue Nile debuts synthetics with De Beers' Lightbox brand. Sotheby's N...Read More

RAPAPORT... Sales at Sarine Technology improved in the third quarter as diamond-manufacturing levels increased following a lockdown in India, the equipment producer reported Wednesday.Revenue rose 25% versus the previous quarter to $7.4 million in the three months ending September 30, reflecting an increase in diamond scans using its Galaxy machines, Sarine noted. However, the figure was stil...Read More

RAPAPORT... Blue Nile has launched an exclusive line of Lightbox lab-grown diamond jewelry, its first foray into synthetics in its 21-year history.De Beers-owned Lightbox seemed like the obvious choice for a partner, given the alignment of the two companies' perspectives, Blue Nile CEO Sean Kell told Rapaport News Thursday."We've been watching the lab-grown diamond market for some time. We th...Read More

RAPAPORT... Tiffany & Co. and LVMH have settled their public dispute, agreeing to a reduced price for their takeover deal after the French luxury group walked away last month. LVMH will pay $131.50 per share for Tiffany, rather than the $135 to which the companies agreed in late 2019, they announced in a joint statement Thursday. That shaves around $420 million off the original deal's val...Read More

(IDEX Online) - Yoram Dvash is to stand down as president of the Israel Diamond Exchange (IDE) to focus on his role at the helm of the World Federation of Diamond Bourses He'd been acting president of the WFDB since April and was confirmed in the position for a three-year term by a digital election two weeks ago.He replaces Ernie Blom, from South Africa, who said he was stepping aside fo...Read More

(IDEX Online) -Tiffany and LVMH have settled their highly-publicized differences over a $16.2bn takeover.The French luxury conglomerate LVMH walked away from the deal in September, citing a tit-for-tat war over US trade tariffs and a poor performance by Tiffany & Co during the pandemic.But after bitter legal threats from both sides, LVMH has now negotiated a modest three per cent ($425m) disco...Read More

(IDEX Online) - India's diamond industry is calling for the duty on rough imports to be slashed from 7.5 per cent to 2.5 per cent.It also wants an exemption from a two per cent e-commerce (equalization) levy on rough sales and a tax amendment that would allow rough to be sold in the Mumbai SNZ (Special Notified Zone).The Gem and Jewellery Export Promotion Council of India (GJEPC) say the meas...Read More

(IDEX Online) - Diamond dealers are to be guaranteed basic banking services under a new law passed last week by Belgium's federal parliament.The move has been welcomed by the Antwerp World Diamond Centre (AWDC) which says many of its members have been rejected multiple times or have had their accounts closed.  Banks around the world are suspicious of the diamond trade, consider it t...Read More

The European ferro-molybdenum price climbed by 2.9% in the midweek assessment on tightening prompt inventories and increased end-user demand, while oxide prices lagged behind. Fastmarkets' price assessment for ferro-molybdenum, basis 65%, in-whs Rotterdam climbed to $21.80-22.40 per kg on Wednesday October 28, up from the previous week's assessment of $21.25-21.70 per kg. "Inquiries from end...Read More

Before the disruptions caused by the Covid-19 pandemic, 2020 was expected to be an important year for the rollout of 5G telecommunications networks, with more operator launches globally and declining prices for smartphones and other 5G-enabled devices.While the rollout has been disrupted in the short term, the increase in remote working that has resulted from lockdown measures has underscored the...Read More

Lundin Mining is on track for an early 2021 restart of expansion works at its Neves Corvo zinc mine in Portugal.The expansion plans, which were halted earlier this year due to the Covid-19 pandemic are expected to boost zinc concentrate capacity by 80,000 tonnes per year. The company said preparation work for the restart of both the surface and underground construction sites ha...Read More

First Quantum Minerals has increased its 2020 group copper production guidance to 750,000-785,000 tonnes, citing the resumption of normal operations at its Cobre Panama project and new production records at almost all of its sites. In July, the Vancouver, Canada-headquartered company said it was expecting 2020 group copper production of 725,000-770,000 tonnes. Company chairman and chief executive...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 said a series of 25m representative grab samples from the Herradura zone were combined into one sample, with a...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 Canada-based company increased the lower-end of its copper guidance by 25,000 tonnes and narrowed the upper range by 1...Read More

Roberto Ecclefield has joined trading house Industrial Minerals and is setting up a Latin America business for the firm, Fastmarkets understands. Ecclefield was formerly the chief commercial officer at Chilean state miner Codelco, which...Read More

En+ Group, the majority owner of aluminium producer UC Rusal, has urged the European Commission to remove any tariffs on low-carbon aluminium to spur the 'green' economy. In a statement released on Thursday October 29, En+ said applying a "one size fits all" Carbon Border Adjustment Mechanism (CBAM), as currently suggested, could be counterproductive. The theme of low-carbon aluminium and sustaina...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 Canadian copper producer reported total output of 38.Read More

The London Metal Exchange three-month nickel price was the under performer during morning trading on Thursday October 29, with its price action largely subdued against a continued upsurge in the US dollar index, while a fresh cancelation of some 18,525 tonnes kept the LME lead price elevated.LME nickel's outright price was recently trading at $15,515 per tonne on Thursday morning, falling by some...Read More

US hot-rolled coil prices have popped back above $34 per hundredweight ($680 per short ton), while mills - which have few spot tons to spare for the balance of the year - increasingly hold out for $35 per cwt or more on the supply they have left, market participants said.Fastmarkets daily steel hot-rolled coil index, fob mill US was calculated at $34.16 per cwt ($683.20 per ton) on Thursday O...Read More