RAPAPORT... An Israeli diamond cutter with 45 years of experience in the trade turned to a surprising source of income when his business floundered due to Covid-19: driving a garbage truck.The story of Atzmon Breitbart might sound more worrying than inspiring. But the 66-year-old says he made the move mainly to avoid sitting idle - and prays he'll be able to return to diamonds when the pandemic is...Read More

RAPAPORT... A 3.01-carat, fancy-vivid-blue diamond ring, carrying a high estimate of $6.3 million was among a number of headline items that failed to find buyers at Sotheby's Geneva auction.Sotheby's withdrew the stone from Tuesday's Magnificent Jewels and Noble Jewels Part II at the request of the consigner, it told Rapaport News Wednesday. The sale, which achieved a total of $12.4 million, was t...Read More

RAPAPORT... The coronavirus cost BlueRock Diamonds GBP 550,000 ($690,000) as sales slumped and the closure of its Kareevlei mine added to its expenses, the company reported Monday.The amount includes an estimated GBP 100,000 ($125,000) of lost revenue, with the weak market forcing the company to withdraw its rough goods from a tender in March, and offer a 15% discount in June, it explained. I...Read More

(IDEX Online) - A diamond worker reportedly jumped to his death from a sixth-floor window at the Bharat Diamond Bourse, in Mumbai, India, on his first day back after lockdown. He's been named by local media as Jay Lakhiya, aged 20.He'd arrived from his home in Surat to resume work at the bourse, in the Bandra Kurla Complex (pictured) on Tuesday.Police investigating the death say he...Read More

Chinese copper premiums continued their uptrend in the week to Tuesday June 23, with market participants noting brand-dependent demand as a driver for the latest increases, while US and European premiums were unchanged in illiquid markets. Brand-dependent, near-term demand strengthens Shanghai premium  Sellers continue to dominate in Europe  Sluggish US spot market hinders premium moveme...Read More

here(IDEX Online) - New software will help jewelers comply with anti-money laundering (AML) requirements of the anti-terror USA PATRIOT Act.The JewelPAC online program has been developed by the Jewelers Vigilance Committee (JVC) and is hosted by insurers the Jewelers Mutual Group.It's designed to save time and provide peace of mind for the vast majority of US jewelers required to implement po...Read More

Netherlands-based aluminium producer Aldel has signed a partnership with solar park operator Ecorus to help accelerate the development of solar power infrastructure in the region, the producer announced on Tuesday June 23.Ecorus is developing a solar power park on a site near to Aldel's smelter at Delfzijl, and the partnership will allow it to feed the entire peak output of 4.5MW from the site int...Read More

(IDEX Online) - Diamond factories in Surat should close for a week to combat a spike in COVID-19 cases, say industry bodies.Three units have been forcibly closed after workers were diagnosed with the virus and 10 others have suspended work voluntarily.The Gems & Jewellery Export Promotion Council (GJEPC) and the South Gujarat Chamber of Commerce and Industry (SGCCI) have jointly appealed for a...Read More

Crude steel production in Germany fell by 27% year-on-year in May 2020, following a 24% drop in April due to output adjustments made by mills to address the Covid-19-driven deterioration in steel demand, German steel federation WV Stahl said on Wednesday June 24.Germany's mills produced 2.56 million tonnes of crude steel in May, down from 3.51 million tonnes in the corresponding period of 2019, WV...Read More

Steel billet producers from the Commonwealth of Independent States (CIS) reduced their offers early this week on a lack of demand in Asia as well as in nearer markets, Fastmarkets learned.Offers from several Russian mills were heard at $370-375 per tonne fob Black Sea earlier this week against $380-385 per tonne fob last week.One source said a Ukraine-based producer offered material to customers i...Read More

Domestic prices for heavy steel plate in Northern Europe have moved down over the past week due to limited demand, sources told Fastmarkets on Wednesday June 24.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was ?,?450-470 ($508-531) per tonne on June 24, down by ?,?20 per tonne week on week from ?,?470-490 per tonne. The assessment was based on deals,...Read More

Domestic prices for steel mesh-quality wire rod in Europe were broadly stable in most regions over the past week, although Italian producers managed to secure slight increases, sources told Fastmarkets on Wednesday June 24.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe was ?,?420-440 ($475-497) per tonne on Wednesday June 24, stable...Read More

The price of steel hollow sections in Europe continued to move downward on Wednesday June 24 with the market remaining weak, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?535-550 ($604-621) per tonne on Wednesday, down from ?,?540-560 per tonne tonne a week earlier."Prices are slightly lower but demand is pickin...Read More

Broader markets were consolidating this morning, Wednesday June 24, underpinned by better economic data, but conversely held back by concerns about how the spread of the Covid-19 is accelerating in some regions; the spread in some mining countries is now a potential threat to supply.* Tuesday’s flash June purchasing managers’ index (PMI) data shows the global economy is recovering at a b...Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesThe events were Monday's A$70 million takeover of Cassini, OZ's 30% partner in the proposed $995 million West Musgrave nickel-copper project, and Tuesday's release of the prefeasibility study in to aRead More

The Materials Services trading arm of German diversified industrial group Thyssenkrupp, has teamed up with Munich-based Mantro to form a 50/50 steel scrap joint venture, MT Industry Recycling.The newly formed JV aims to collect waste products direct from metal processing companies, a spokesperson told Fastmarkets."The idea is to be actively looking for existing partners to do so together...Read More

Rupert Resources on a Roll at IkkariSPONSOREDCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThe Vancouver-based company reported drill results received from March through early June that were focused on priority target areas within...Read More

Export prices for Japanese steel scrap fell heavily over the past week with exporters reducing rates to stimulate fresh bookings, market sources told Fastmarkets on Wednesday June 24.Asian buyers shunned Japanese scrap offers last week, citing the fact that prices were too high, and instead concentrated on booking material from other sources such as the United States West Coast.Fastmarkets' price...Read More

The Turkish deep-sea scrap import market remained quiet on Wednesday June 24, with mills continuing to push for lower prices due to weakening finished long steel demand, sources told Fastmarkets.Seel producers in the country have been staying away from deep-sea scrap purchases since the beginning of last week, when demand for rebar, especially in the local market, started to weaken.Prices for...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade.Shopify added $1.54 to $912.88 after KeyBanc Capital raised its target price from US$805 to U$1,000.Aurora Cannabis added $0.03 to $13.67 after Stifel Nicolaus raised its target price from Cdn$6.20 to Cdn$17.50. Constellation Brands added $0.54 to $181.00 after Deutsche Bank raised its t...Read More