US Galvalume prices have fallen to multi-year lows, matching declines seen in other flat-rolled steel products, but appear poised for a rebound - or at least a stabilization - over the next month following a wave of mill price increases, sources said.Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US fell to $34.50 per hundredweight ($690 per short ton) on T...Read More

Domestic wire rod prices in the United States have risen following mid-November increase announcements from US mills, while imported wire rod prices have widened lower.Fastmarkets' assessment for steel wire rod (low carbon) industrial quality, fob mill US rose to $29-30 per hundredweight ($580-600 per short ton) on Tuesday November 19, up by 1.7% from $28.50-29.50 per cwt in mid-October but still...Read More

Russia's Magnitogorsk Iron & Steel Works (MMK) plans to increase its production of hot-rolled coil and pig iron over the next five years, chief executive officer Pavel Shilyaev said during the company's capital markets day at the London Metal Exchange on November 15.At the one-day event for investors and analysts, which also included a media briefing, MMK laid out its plans for reconstruction next...Read More

RAPAPORT... Rio Tinto saw a double-digit increase in the number of bidsat its 2019 Argyle Pink Diamond Tender, the company reported Wednesday.The miner offered two collections at the tender, with one buyer acquiring all 64 lots of the Everlasting Collection, comprising 211 carats of smaller diamonds. The center piece Hero stones included six pink and red diamonds weighing 1.07 carats to 2.01 carat...Read More

RAPAPORT... Zvi Yehuda is a man of few words, but his accomplishments inthe diamond industry speak volumes. The 82-year-old Israel native is thecreator of numerous inventions that have changed the face of the trade, andeven the face of diamonds themselves. Yehuda first learned about diamonds in 1953 as a precocious16-year-old. His father, wanting to break into a sector that was closed tothose not...Read More

RAPAPORT... Lucapa Diamond Company has unearthed two rough diamondsweighing more than 100 carats from its Mothae mine in Lesotho. The 220- and 127-carat stones, which are low-quality diamonds, werefound during the treatment of recovery tailings - ore that has already beenprocessed once. They are the second and third stones weighing more than 100carats recovered from Mothae since Lucapa began comme...Read More

RAPAPORT... Belgium's diamond trade slowed at a higherrate in October, reflecting global market weakness. Polished exports fell 30%to $671 million, compared with a 25% drop in September.Rough shipments also slumped, according to data from the Antwerp World DiamondCentre.Belgium Trade Data for October 2019  Read More

RAPAPORT... Diamcor Mining returned to profit in the second fiscalquarter, as an efficiency program helped it reduce costs. The miner recorded a net profit of $350,676 for the threemonths ending September 30, versus a loss of $417,368 during the same period ayear ago, it said last week. The company shaved its expenses by reducing its usage of heavyequipment and fuel, it explained. Rough-diamond s...Read More

(IDEX Online) - Studs, a new ear piercing experience that opened its first brick and mortar location in New York City yesterday, also announced it has raised $3 million in seed funding.The funding, which was led by First Round Capital with participation from Lerer Hippeau and angel investors will be used for building retail locations, enhancing the ecommerce experience and expanding the Studs team...Read More

(IDEX Online) - The number of bidders at the recent 2019 Argyle Pink Diamonds Tender saw double-digit growth with buyers vying to get their hands on some of the last diamonds to come from the Argyle diamond mine. The mine is scheduled to close at the end of 2020.While Rio Tinto does not disclose the value of winning bids, it said that over the past 19 years, the value of diamonds sold at Tender ha...Read More

(IDEX Online) - What the latest large finds from Mothae lack in quality, they more than make up for in size. Two diamonds of 220 carats and 127 carats were recovered from the treatment of recovery tailings. The 220-carat stone is the largest of the three 100+ carat stones recovered from the Lesotho mine since commercial production began in January 2019.Lucapa Diamond Company Limited, which ho...Read More

(IDEX Online) - Marketing company GemFind has announced a change in name to better reflect the digital marketing and website solutions it provides to its clients. The company will now be known as GemFind Digital Solutions (GDS). As part of the rebrand, GDS has also launched a new website that features educational training blogs on digital marketing, along with demos of the newly released Ring...Read More

(IDEX Online) - Tennis icon Serena Williams has unveiled her first fine jewelry collection. Created in a collaboration with diamond manufacturer K.P. Sanghvi, Serena Williams Jewelry launched exclusively with Fred Meyer Jewelers online and at select stores and on Macys.com.The collection features over 70 core pieces that include items adorned with words that describe Williams, such as "queen"and "...Read More

The stainless steel scrap market in the United States continues to disappoint, with prices falling further over the past week.It's "probably going to be a miserable remainder of 2019 for stainless steel scrap," one domestic dealer source said."Prices may not see any real opportunity for strength until January, when processors and mills [consumers] start looking to restock inventory," a s...Read More

World Diamond Council (WDC) president Stephane Fischler says that although the Kimberley Process (KP) requires a political process, it is in the collective interest of all participants that rough diamonds meet the expectations of the market.He opened the KP plenary meeting, in India, on Tuesday, which was expected to discuss the end of the KP’s three-year reform and review cycle and the futu...Read More

Turkish steel producers have continued to book deep-sea scrap for December deliveries but only at a slow pace due to the limited demand for finished long steel products, with prices holding steady, sources said on Wednesday November 20.A steel mill in the Marmara region booked a Baltic Sea cargo on November 20, comprising 25,000 tonnes of HMS 1&2 (80:20) at $261 per tonne and 5,000 tonnes of bonus...Read More

Seaborne iron ore prices saw a slight uptick on Wednesday November 20, while some market participants are bracing for production restrictions due to bad weather and heavy pollution levels in north China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.33 per tonne, up $0.53 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.36 per tonne, up $0.53 per tonne.62% Fe low-alumin...Read More

Steelmaking in electric arc furnaces (EAF) is already a good example of a waste-free circular economy since more than half of global steel output is being recycled, even if higher-quality materials are still produced from virgin materials and fossil-fueled processes, the president of the European Steel Technology Platform (ESTEP) said at a workshop in Bergamo, northern Italy last week. Carl de Mar...Read More

China continued to account for the bulk of the transactions in the seaborne coking coal market, with cargoes being traded in a tight price range.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.29 per tonne, up $0.38 per tonnePremium hard coking coal, cfr Jingtang: $144.07 per tonne, down $0.07 per tonneHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingta...Read More

The three-month price of aluminium traded on the London Metal Exchange was little changed during the morning session on Wednesday November 11 despite aninflow of 13,725 tonnes of the metal into exchange warehouses as of 9am on the same day. The LME three-month aluminium price traded up a marginal 0.4% from the previous day's close at $1,738 per tonne this morning despite the stock inflow, which wo...Read More