RAPAPORT... Alrosa saw steady sales in October as robust preholiday rough demand coincided with supply shortages.The miner sold $308 million in diamonds during the month, a drop of less than 1% versus a year earlier, the company reported Wednesday. The figure was 3% higher than in September.Rough revenues fell 2% year on year to $293 million, while sales in the polished division jumped 40% to...Read More
RAPAPORT... A pair of diamond bracelets belonging to Marie Antoinette more than doubled their high estimate at a recent Christie's auction in Geneva.The set, made by Boehmer in 1776 and passed down through Marie Antoinette's family for 250 years, fetched $8.2 million at Tuesday's Magnificent Jewels sale, Christie's said. That figure is the second-highest price for a jewel owned by the French queen...Read More
PolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningThe allegations against Pinera stem from the Pandora Papers investigation, which showed a mining company owned i...Read More
Prices for hot-rolled coil in the United States hit their lowest point since July amid market conditions most sources have described as slow, bearish and volatile.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $92.33 per hundredweight ($1,846.60 per short ton) on Wednesday November 10, down by 0.90% from $93.17 per cwt on Tuesday November 9 and by 1.07% from $93.33 p...Read More
RAPAPORT... Israel's diamond trade strengthened in October, buoyed by the sector's extended recovery ahead of the holiday season.Polished exports - after returns of unsold goods - more than tripled to $572.1 million for the month, up from $176.6 million a year earlier, the country's Ministry of Economy and Industry reported Monday. Shipment volume jumped 59% to 157,969 carats, with the averag...Read More
(IDEX Online) - Alrosa today reported a slight rise in its monthly sales of rough and polished diamonds, in the face of continuing supply shortages.The Russian miner sold a total of $308m in October, up from a 2021 low of $298m in September, which is traditionally a quiet month. Sales in August were $306m.Alrosa is still struggling to meet unexpectedly high demand globally after the easing of Covi...Read More
(IDEX Online) - A pair of diamond bracelets that belonged to Marie Antoinette, the last Queen of France, sold at auction for $8.2m - more than twice their high estimate.An anonymous phone bidder bought them yesterday at Christie' Geneva.The bracelets, both of 122 diamonds, were smuggled out of France before the Queen was guillotined in 1793. and had remained in her family ever since.Their lin...Read More
(IDEX Online) - One of the world's largest emeralds - weighing 7,525 carats - has been recovered in Zambia. London-based miner Gemfields, which recovered the gemstone, says no official record exists, but finds over 1,000 carats are considered "extremely unusual". The newly-found emerald, named Chipembele, is the largest emerald ever found at the Kagem mine, at 1,505g. It trumps Insofu,...Read More
Turkish flat steel producers need to avoid sudden price changes if they want to keep their share of the domestic and export markets, sources told Fastmarkets on Wednesday November 10."The producers increase their prices sharply when demand improves in any region, but such increases are not accepted by buyers," an executive with a Turkish steel producer said. "Then producers start giving discounts,...Read More
The weakening of the markets for flat and long steel in Asia that was created by the sharp drop in futures prices in China this week has had a negative effect on Iranian exporters, which sell most of their semi-finished steel volumes to the region, Fastmarkets heard on Wednesday November 10.Fastmarkets' daily price assessment for steel hot-rolled coil, domestic, ex-whs Eastern China, was 4,650-4,7...Read More
A lack of supportive factors in the global market has resulted in lower interest in Commonwealth of Independent States-origin export billet from the customer side, eventually influencing bids.One of the most negative factors was a sharp drop in the Chinese long-steel market due to the bearish sentiment caused by many days of weak demand, market sources said.The assessment for steel...Read More
PolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningThe pace at which FMG subsidiary Fortescue Future Industries has grown in recent months has raised eyebrows amon...Read More
PolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningThe country has experienced "significant" stage four load shedding, or scheduled power outages, over the past tw...Read More
The US ferrous scrap market is showing no signs of retreat ahead of the December trade, with sellers confident that fundamentals will remain in their favor through the January trade - even if export market opportunities grow cold.Sentiment for the the final trade of the year is positive, with some participants calling the December market sideways at worse. Many sellers suggested they will hold mat...Read More
It is unclear whether the slide will impact production. The Ministro Hales mine produced 144,000 tonnes of copper in the first nine months of the year.Ministro Hales is in the Antofagasta region of northern Chile and forms part of Codelco's Chuquicamata division, which is the highest producing division that also includes the Radomiro Tomic mine. The division produced 831,900 tonnes of copper in 20...Read More
New life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldPolarX finds extra copper potential in AlaskaSPONSOREDpolarxAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningThe Carmacks bypass is expected to be completed in 2024 and will allow industrial vehicles to bypass Carmacks, r...Read More
Scrap export activity on the US East Coast has been muted, with exporters there roundly rejecting Turkish mills' lower offers for ferrous scrap given exceptionally tight supply in the wake of November's frenetic domestic trade.One East Coast exporter dismissed a bid of $498 per tonne cfr for an 80:20 mix of No1 and No2 heavy melting scrap out of hand at the start of the week, a Turkish trader told...Read More
Anglo American has signed a deal with the state government of Minas Gerais, in Brazil, to invest 4.4 billion Reais ($797 million) in its Minas-Rio iron ore unit by 2025, the company said on Tuesday November 9.The agreement includes technological modernization work, construction work and all actions needed for future capacity expansions, it added. Minas Gerais, which is in southeast Brazil, will pr...Read More
Turkish steel mills resumed their deep-sea scrap imports on Wednesday November 10, with prices showing a slight downturn, market participants told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 20,000 tonnes of heavy melting scrap 1&2 (80:20) at $497 per tonne and 10,000 tonnes of bonus at $517 per tonne cfr.The same mill booked a second Baltic Sea cargo consis...Read More
Exporters of steel scrap from Japan are finding it increasingly difficult to find buyers for their material at acceptable prices, sources told Fastmarkets on Wednesday November 10.Wednesday saw another price decrease at major buyer Tokyo Steel, which will drop its buy prices by ?500 ($4) per tonne across all grades and all works with effect from November 11. This will be the third decrease so far...Read More