(IDEX Online) - Jewelry stores have shown "encouraging signs" in post-COVID-19 China, according to De Beers.   Paul Rowley, its executive vice president of diamond trading, said most retail outlets were now open again, although sales had yet to return to levels before the pandemic. "In China, most stores are now open again with consumers returning and encouraging signs are beginning to show,"...Read More

RAPAPORT... As difficult as the Covid-19 lockdown period has been, Sally Morrison, director of public relations at De Beers' consumer and brands division, sees opportunity for the diamond industry moving forward. In the first episode of the Rapaport Group's "The Recovery" webinar series, Senior Analyst Avi Krawitz discussed the state of the luxury market in the coronavirus era with the marketing e...Read More

The three-month copper price on the London Metal Exchange was higher at the close of trading on Monday June 1, needing only a further slight push to rise above $5,500 per tonne - a level it has not breached since March 11 - while a smaller-than-expected fall in US monthly construction spending also supported the base-metals complex.Copper's underlying price on the LME closed at $5,484 per tonne on...Read More

Aluminium producer Norsk Hydro and battery cell maker Northvolt have formed a joint venture to harness recycling synergies between their two industries, Northvolt said. The Hydro Volt venture aims to leverage the Norwegian market for electric vehicles to secure a sustainable feed of battery materials. Northvolt, based in the Swedish city of Stockholm, said the joint recycling hub is slated to star...Read More

(IDEX Online) - Alrosa will allow customers to defer 100 per cent of June purchases, as it has done in April and May, in response to the ongoing COVID-19 pandemic. The Russian state-owned miner says it's offering "unprecedentedly flexible terms for its long-term clients" in an attempt to prevent a depressed market from being flooded. Until 2018, the 58 approved buyers on Alrosa's list co...Read More

An open import arbitrage window during May has led to significant declines in copper and zinc stocks in the Shanghai bonded zone, while aluminium stocks rose following a rush by participants to deliver more metal in bonded warehouses to satisfy growing appetite to import the light metal into China.Shanghai bonded copper stocks fall to all-time low Copper stocks at Shanghai bonded warehouses have d...Read More

Polished diamond prices for May reflect much more movement than for April, with an overall trend of modest rises, balanced by price drops in specific sizes and qualities.  Much of the activity for both round and polished stones was among 0.50 to 1.99 cts.  Smaller sizes were characterized by inactivity or limited price drops.  Larger key sizes, over 3.00 cts saw clust...Read More

The three-month copper price on the London Metal Exchange inched up 0.8% during morning trading on Monday June 1, pushing back above nearby resistance levels amid strong turnover, while a 200-tonne outflow for LME tin stocks kept its price elevated. The copper price was recently at $5,420 per tonne, climbing from Friday's closing price of $5,376 per tonne. Daily trading volumes are strong at more...Read More

RAPAPORT... Petra Diamonds is considering whether to hold a rough tender in June after a market slowdown prompted it to cancel its May sale.Prices fell 27% in March and April compared with February as the Covid-19 pandemic reduced business activity throughout the supply chain, the company reported Friday. Having called off the May sale, it is now considering holding a tender in South Africa a...Read More

RAPAPORT... Christie's plans to relaunch its three live Magnificent Jewels sales during July, with the Geneva event set to feature a 100.58-carat diamond.The modified shield mixed-cut, D-color, type IIa diamond will go under the hammer on July 22 with a price estimate of $3.5 million to $4.5 million. Christie's will also hold its New York Magnificent Jewels auction on July 29, it announced Friday....Read More

Hot-rolled coil prices in the United States have slipped back below $25 per hundredweight ($500 per ton) after pushing above that threshold late last week amid uncertainty about whether the latest price increases from domestic mills would stick.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.98 per cwt ($499.60 per ton) on Monday June 1, down by 0.8% from $25.18 p...Read More

Steel plate prices in the United States have continued to hold steady after a round of price increases announced in late May again failed to gain traction on the market.US plate mills announced hikes of $40-50 per short ton ($2-2.50 per hundredweight) during the week ended May 22, but so far the follow-through has been hampered by pre-increase discounting and severe weakness in important end marke...Read More

The United States Department of Commerce has announced an affirmative circumvention ruling against imports of steel concrete reinforcing bar (rebar) from Mexico.Commerce issued an affirmative preliminary circumvention ruling against Mexican rebar on March 4.Commerce said imports of straight rebar that is bent at one or both ends and produced and/or exported to the US by Deacero SAPI de CV circumve...Read More

Prices for domestic and imported merchant bar quality (MBQ) steel in the United States remained flat in May amid stirrings of activity and an improving outlook.Fastmarkets' monthly price assessment for steel bar 2 x 2 x  1/4 -inch angle merchant products, fob mill US was unchanged at $33.80 per hundredweight ($676 per short ton) on Friday May 29 after declining to that level on April 24; the...Read More

Domestic prices for steel hot-rolled coil in Northern Europe decreased further during the week to Friday May 29, due to low demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?400.71 ($444.84) per tonne on Friday, down by ?,?6.79 per tonne week on week and by ?,?25.54 per tonne month on month.Friday's index was calculated based on deals and "workable" price...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesSolaris issued 25 million shares priced at 80c, with each unit including a three-year warrant priced at $1.20.The proceeds will be used to advance exploration at the Warintza copper-molybdenum project in Ecuador, including a comprehensive geophysical survey and expanded drilling programme.Artemis all set thanks to unique approachSP...Read More

Markets were for the most part stronger this morning, Monday June 1, following relief that United States President Donald Trump’s response last Friday to China’s plans to impose national security laws in Hong Kong did not shake market sentiment because he did not meddle with the phase one US-China trade deal, or increase sanctions. Asian-Pacific equities indices were up strongly, as were...Read More

Mining company Rio Tinto has apologized for destroying one of Australia's oldest Aboriginal heritage sites in order to expand an iron ore project and said that it was urgently reviewing plans at other sites in the Juukan Gorge area.Blasting associated with the expansion of Rio Tinto's Brockman 4 iron ore mine in the Pilbara region of Western Australia over the weekend devastated the Juukan Gorge c...Read More

Turkish domestic ship scrap prices rose over the past week, in line with stronger imported scrap values, market sources said on Monday June 1.The Turkish steel producers resumed their deep-sea scrap purchases at higher prices after the Eid al-Fitr break, which marks the end of Ramadan.Following the upturn in import values, three steel mills raised their...Read More

U.S. equity index futures were lower this morning. S&P 500 futures slipped 4 points in pre-opening trade.U.S. equity index futures were weaker despite strength in European and Far East equity markets. Notably stronger was the Shanghai Composite Index, up 63.08 to a 10 week high of 2915.43 following news that the China Caixin Purchasing Managers Index advanced from 49.4 in April to 50.7 in May....Read More