RAPAPORT... De Beers has contributed $200,000 to assist women's shelters and support organizations in its diamond-producing countries during the COVID-19 pandemic.The money, which will be split evenly between Botswana, Canada, Namibia and South Africa, will help women and children whose vulnerability to domestic violence has increased due to local lockdowns, De Beers said Wednesday."As the wo...Read More

Latin American steel group Ternium expects the Mexican automotive industry to "gradually" restart operations in May, chief executive officer M??ximo Vedoya said on Wednesday April 29.Automakers in Mexico have stopped operations since late March because of the spread of Covid-19. "The automotive industry's value chain in US and Mexico is highly integrated and it demands synchronized production in b...Read More

RAPAPORT... A gem-set, diamond and enamel tutti frutti bracelet by Cartier garnered $1.3 million at Sotheby's, the highest price for any jewel sold in an online auction.The piece, which features a selection of old European and single-cut, VS- to SI-clarity, F- to I-color diamonds, surrounded by rubies, emeralds and sapphires, smashed its high estimate of $800,000, the auction house said Wedne...Read More

A summary of the financial results for Turkey's largest steelmaking group, Erdemir, for January-March 2020.In briefEarnings before interest, taxes, depreciation and amortization (Ebitda)1,068,037,000 Turkish lira ($153.07 million*), down by 38.36% from 1,732,790,000 lira in January-March 2019.Q1 2020 production, salesCrude steel production2.232 million...Read More

(IDEX Online) - The fourth De Beers Sight of the year will go ahead in Botswana next week as planned, unlike the previous one, which was canceled at the last minute. But few of the 80 Sight holders are expected to attend, because of widespread travel restrictions. It is understood that because of the coronavirus crisis, the miner will allow 100 per cent deferrals. The third Sight of the year (30 M...Read More

RAPAPORT... De Beers is allowing rough-diamond customers to skip all purchases at next week's sight, as shutdowns of manufacturing and retail markets have led to minimal demand.The sight will be the second consecutive sale at which the miner has allowed clients to push their allocations to later in the year. Appetite for rough is at rock bottom as the trade seeks to avoid taking on unsellable...Read More

Indian steel mills are unlikely to cut domestic hot rolled coil prices for sales in May, private mill sources in the country told Fastmarkets this week."We are likely to continue with current prices for the next month,," an official from a private sector mill said, "[because] any reduction in prices will [lead to] a big loss to our dealers and distributors."Fastmarkets' price assessment...Read More

(IDEX Online) - Bharat Diamond Week is going digital after organizers were forced to cancel the physical event, scheduled for August, because of coronavirus. Buyers and sellers at the "diamond-only" show will be able to meet on a secure digital platform. The Bharat Diamond Bourse (BDB) canceled the three-day event because of travel restrictions but says it wanted to provide the industry with a muc...Read More

The Russian Steel Association has called for equal access to the country's railway infrastructure so that its members can export goods to eastern destinations, according to a local news report published earlier this week.Russian Steel unites the country's largest mining and steel companies.It filed an appeal to Russia's first deputy prime minister, Andrei Belousov, asking him to ensure that there...Read More

Latin American steel group Ternium expects to delay the start-up of some projects in order to preserve cash during the Covid-19 pandemic.The company will delay start-up of a hot-rolling mill in Pesquer?-a, a northeastern Mexican city near Monterrey, Mexico, to April 2021.The company previously planned a fourth-quarter 2020 launch of the new hot-rolling mill, which is designed to hav...Read More

RAPAPORT... India's polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned.Diamond sales will decline up to 32%, to $13 billion to $15 billion, in the current fiscal year ending March 31, 2021, India-based Crisil Ratings estimated Tuesday. This compares to approximately $19 billion in the fiscal year...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company said it received more than 320 orders, which equated to demand in excess of $10 billion, the highest ever for a Codelco bond, some 13-times oversubscribed.Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesCopper production fell by 9% year on year in Q1 to 293,000t, with volumes from the company's African assets down 29% year on year.Read More

The Turkish deep-sea scrap import market was almost silent again on Thursday April 30, with mills expecting even lower prices, sources told Fastmarkets.Overall demand for deep-sea scrap remains poor because of lower steel output and weak demand for finished steel, due to the measures put in place to curb the spread of the Covid-19 outbreak.At least six steelmakers have halted produc...Read More

Prices in the seaborne iron ore market continued to gain ground on Thursday April 30, in line with higher futures curves for steel rebar, but trading activity in the seaborne and Chinese portside markets slowed down before China's Labor Day holiday on May 1.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $84.04 per tonne, up by $1.54 per tonne.62% Fe low-alumina fines, cfr Qingdao: $86.70 p...Read More

Buying activity for ferrous scrap cargoes imported into South Korea has increased over the past week, with steelmakers looking to acquire Japanese material, market sources told Fastmarkets on Thursday April 30.South Korean scrap demand has not held up over recent months. The spread of the Covid-19 pandemic across the country has seriously reduced high-grade steel demand and even led to major produ...Read More

Seaborne coking coal prices dropped slightly day on day on Thursday April 30, one day before the five-day Chinese Labor Day holiday, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.12 per tonne, down $0.18 per tonne Premium hard coking coal, cfr Jingtang: $117.33 per tonne, down $1.17 per tonneHard coking coal, fob DBCT: $93.26 per tonne, down $1.75 per tonneHard coki...Read More

Base metals prices and global equity indices were holding up in high ground this morning, Thursday April 30, helped by the US Federal Open Market Committee’s message of continued support, an expansion in manufacturing activity at China’s larger factories, a stronger oil price and because state-sponsored inventory buying in China bodes well for the metals. * Asian-Pacific and pre-market m...Read More

Prices for ferrous scrap imports into Bangladesh declined over the past week with buying activity held back by high stocks of material as well as the start of the Islamic celebration of Ramadan, sources told Fastmarkets on Thursday April 30.Prices in the Bangladesh market had been strong since the start of April, with higher offer prices from the US West Coast due to the low supply of material, to...Read More

China's domestic hot-rolled coil prices edged up on Thursday April 30, with sentiment lifted by news that the country's manufacturing activity continued to grow in April.DomesticEastern China (Shanghai): 3,270-3,300 yuan ($462-466) per tonne, widening upward by 20 yuan per tonneNorthern China (Tangshan): 3,240-3,250 yuan per tonne, widening upward by 10 yuan per tonneA Shanghai-based trader said p...Read More