Diamond miner De Beers’ rough diamond sales value for the ninth sales cycle of this year increased to $390-million, compared with the $297-million reported for the eighth sales cycle.Sales were, however, lower than the $442-million recorded for the ninth sales cycle of 2018.AdvertisementCEO Bruce Cleaver commented that with signs of increasing polished price stability, the ninth sales cycle...Read More

London-listed Botswana Diamonds (BOD) has recovered the first diamonds from its plant commissioning activities at the Marsfontein mining permit.The company’s 40%-owned associate Vutomi Mining was last month granted a mining permit for the diamond-bearing gravels and residual unprocessed stockpiles around the iconic mine, in South Africa.AdvertisementBOD reports that plant commissioning is we...Read More

Nordic Mining prepares for lift-offSPONSOREDnordic miningPolymetal building with good momentumSPONSOREDpolymetal internationalIronRidge derisks through diverse discoveries SPONSOREDironridge resources Investing in African Mining Indaba 2020SPONSOREDindabaWeighing on results was a $242 million impairment charge on the stalled Rosemont project in Arizona following another legal setback two weeks ago...Read More

The stainless steel scrap market in the United States resumed its downward trek this week due to lower nickel prices, a weakening chrome market and slack demand, although the latter seems to have stabilized at least for now, sources said."We continue to be as conservative as possible with our buying prices because we have no confidence in the direction prices are heading," one domestic dealer sour...Read More

Poster South Africa mine regeneration on trackSPONSOREDorion mineralsNevada Copper's US$200 million Pumpkin Hollow project near Reno in Nevada is one of the first new mines established and in operation at "what looks to be the start of a new commodity cycle", theRead More

Turkish steel producers have continued their deep-sea scrap purchases for December deliveries at steady prices, sources said on Wednesday November 13.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $262 per tonne and 5,000 tonnes of bonus at $272 per tonne cfr.A Monday booking from...Read More

China is likely to turn into an exporter of ferrous scrap in the next decade and global scrap availability is expected to almost double by 2050, Edwin Basson, director general at the World Steel Association, said on Tuesday November 12.As the Chinese steel recycling sector develops the Asian country is set to generate more than it needs by the mid-2020s, he told a panel at Alacero's Latin American...Read More

Low demand for long steel products such as rebar was at the root of the problems facing the steel industry, according to the International Rebar Producers & Exporters Association (Irepas).The raw material for blast furnaces was becoming cheaper but the ferrous scrap used in electric-arc furnaces was getting more expensive, while the prices for both rebar and hot-rolled coil were increasing. This w...Read More

The spread between mid-grade and high-grade fines has continued to widen, with concerns over the glut in supply of the former and limited spot availability of the latter.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $81.03 per tonne, down $0.45 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $81.06 per tonne, down $0.45 per tonne.62% Fe low-alumina fines, cfr Qingdao: $8...Read More

Markets in general are under pressure following United States President Donald Trump’s speech at the Economic Club of New York on Tuesday November 12, where he failed to provide any reassurance that a trade deal had been reached with China; indeed, Trump even threatened that tariffs would be “raised very substantially” if a deal was not reached.In response, gold prices and US treasu...Read More

China's rebar prices increased on Wednesday November 13 amid tightened supply caused by logistical bottlenecks, though market participants expect these to ease over the next few days.DomesticEastern China (Shanghai): 3,780-3,830 yuan ($539-547) per tonne, up 80-90 yuan per tonneNorthern China (Beijing): 3,640-3,670 yuan per tonne, up 10-20 yuan per tonneA trader in Shanghai said that a lot of carg...Read More

The three-month zinc price on the London Metal Exchange was down during the morning trading session on Wednesday November 13, slipping below further support levels despite a continued draw on LME stocks, while tin futures threatened a dip below $16,000 per tonne. Zinc's outright price on the LME was recently seen at $2,442 per tonne, continuing its downward trend after slipping below the $2,500-pe...Read More

Markets in general are under pressure following United States President Donald Trump's speech at the Economic Club of New York on Tuesday November 12, where he failed to provide any reassurance that a trade deal had been reached with China; indeed, Trump even threatened that tariffs would be "raised very substantially" if a deal was not reached.Gold prices and US treasuries rise while demand for h...Read More

Barring those for nickel, base metals prices on the Shanghai Futures Exchange fell during the morning trading session on Wednesday November 13 while investors awaited clarity on the first phase of a trade deal between China and the United States.Trade uncertainty continues to dictate the mood in markets this morning, with investors none the wiser on details of a possible agreement between China an...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Investors are waiting for testimony by Federal Reserve Chairman Jerome Powell before the Congressional Joint Economic Committee at 11:00 AM EST.Index futures were virtually unchanged following release of the October Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.3%...Read More

An overview of the minor metals markets and their latest price moves.Read More

Key data from Fastmarkets' pricing session in Europe on Wednesday November 13. Key drivers  Titanium scrap turnings prices were more or less steady, with some difference reported between northern and southern European markets. Both assessments fell by more than 2% week on week on November 6.  Alloy price range held after widening higher last week, with sources indicating near-term...Read More

A cutback in chrome ore production is needed to rebalance the surplus affecting the ferro-chrome supply chain, delegates claimed at this week's ICDA Chromium 2019 conference in New Delhi, India.Following prolonged weakness in the metallurgical chrome ore and ferro-chrome markets this year, a number of participants have reduced their FeCr output in recent months, in an attempt to contain the amount...Read More

QUESTION: Mr. Armstrong; First I want to thank you for your conference. It was my first time and I was impressed when your daughter asked how many people attended prior sessions. The number of people standing beyond 10 years was impressive. I spoke with one who had been at your 1987 WEC. He said you not only called the crash and the day of the low, but you said gold would rally only $25 and resume...Read More

Unlike the recurring attacks by armed jihadists in Burkina Faso, the rebel groups that are making mining impossible for Banro in the Democratic Republic of the Congo (DRC) are motivated more by commercial than religious reasons, CEO Brett Richards says."They run artisanal mining activities in the country and they can generate substantial revenue," Richards says of the well-organized and heavily ar...Read More