Here are five Fastmarkets MB stories you might have missed on Monday November 18 that are worth another look.The outlook for the Asian hot-rolled coil market in the early part of 2020 is bullish, with prices for January-shipment materials already moving higher, an official at a leading Japanese steelmaker has told Fastmarkets.More than 200,000 tonnes of aluminium have been delivered into Lond...Read More

Fastmarkets will host a free web seminar on Monday November 25 at 9:30am London time, to introduce the new Fastmarkets-settled London Metal Exchange cash-settled main Japanese ports (MJP) aluminium premium contract.The webinar will cover how Fastmarkets assesses its spot MJP aluminium premium, an insight into current market dynamics and how you can manage your risk with the new LME cash-settled co...Read More

The three-month aluminium price on the London Metal Exchange was lower during morning trading on Monday November 18, with continuing inflows of material into LME-registered warehouses in Asia fueling selling pressure.The light metal was recently at $1,746 per tonne, down by around 0.65% from Friday's closing price of $1,755 per tonne. Turnover was moderately high for aluminium over the mornin...Read More

Base metals prices on the Shanghai Futures Exchange were down across the board during the morning trading session on Monday November 18, with nickel giving the worse performance of the complex while the metal's prices continue to correct following a strong run-up between June and September.The most-traded February nickel contract stood at 116,120 yuan ($16,566) per tonne as at 10.06am Shanghai tim...Read More

RAPAPORT... Zimbabwe plans to reduce the percentage of sales diamond miners must pay to the state, aiming to promote investment in more costly operations at the Marange fields.The government proposed a new royalty rate of 10% in theannual budget last week. Diamond producers currently pay 15% of gross revenues,but their overall costs have escalated as they shift toward hard-rock - or"conglomer...Read More

RAPAPORT... Sales and profit slumped at Indian diamond manufacturerAsian Star in the second fiscal quarter as weak rough demand prompted it to reduceits trading activities. The Mumbai-based company supplements its core cuttingbusiness by reselling rough through its subsidiaries, Pranav Kapadia, AsianStar's chief manager for accounts and tax, explained to Rapaport NewsMonday. Revenue from that...Read More

RAPAPORT... De Beers has released the dates of the 10 sights it willhold in Gaborone, Botswana, next year. The miner sells around 90% of its roughat those sales, with the rest available at auctions. The January sight will be the first in De Beers' newintention-to-offer (ITO) period, which is switching to a calendar-year format.Prospective long-term buyers, or sightholders, tell De Beers how m...Read More

(IDEX Online) - With its publication in Arabic, "The Diamond Terminology Guideline" is now available in 10 languages. The latest version, which was published by the DMCC, ensures unity in diamond terminology across Arabic-speaking countries.The guideline sets a universal standard for the diamond and jewelry trade when communicating about diamonds and laboratory-grown diamonds. It is also designed...Read More

Turkey produced 27.973 million tonnes of crude steel in January-October 2019, down 10.6% from the corresponding period last year, the Turkish Steel Producers Association (T???oeD) said on Monday November 18.The drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel.The European Commission (EC) imposed definitive safeguard duties on imports o...Read More

RAPAPORT... A pair of blue diamond earrings will lead a sale of finejewels at Bonhams that includes pieces from the estate of former New YorkYankees owner George Steinbrenner's wife. The earrings feature a marquise-shaped brilliant cut,fancy-intense-blue diamond with VS1 clarity, weighing 1.81 carats, and anoval-shaped modified brilliant-cut, fancy-blue diamond, weighing 1.62 carats. Thosestones a...Read More

More rebar producers in Egypt have increased their prices with effect from Sunday November 17, following the moves of other mills that announced higher prices last week, Fastmarkets has learnt.Egyptian rebar producer Garhy Steel is now offering rebar at E ?10,000 ($619) per tonne ex-works, up from the previous E ?9,600 per tonne ex-works, including 14% VAT.El Marakby Steel's rebar price is now E ?...Read More

(IDEX Online) - Junior miner Diamcor Mining Inc. has reported net income of C$350,676 ($265,208) for its second fiscal quarter, ended September 30. This compares favorable to a net loss of C$417,368 ($315,646) in the prior fiscal year. Despite the increase in profit, Diamcor saw a drop in sales revenue. The company sold 3882.82 carats of rough diamonds, generating revenues of C$730,962 (...Read More

(IDEX Online) - The National Retail Federation has reported that despite a slowdown in the U.S. economy, consumers are still spending and the important holiday season looks on track to perform better than last year. Retail sales in October increased 0.2 percent seasonally adjusted over September and were up 4.2 percent unadjusted year-over-year. "Despite the gradual slowdown in the U.S. econo...Read More

Import prices for rebar sold into Singapore maintained their upward trend in over the past week amid China's strengthening market.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-435 per tonne on Monday November 18, up $5-10 per tonne from a week earlier.Qatari r...Read More

Hot-rolled coil prices in Asia continued to gain last week, forcing buyers to restock after several months of hesitation. Fastmarkets' assessment for steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $443-445 per tonne cfr for the week ending Monday November 18, up $5-13 per tonne from a week earlier.India...Read More

London-listed Petra Diamonds has effected some organisational changes to help facilitate the rapid execution of its Project 2022 strategy.These changes include a flatter management structure, with mines now reporting directly to CE Richard Duffy.AdvertisementThe company on Friday reported that the restructuring had resulted in the removal of the COO role and that Luctor Roode was, therefore, leavi...Read More

China's hot-rolled coil prices regained more upward momentum on Monday November 18 on a drop in supply.DomesticEastern China (Shanghai): 3,610-3,630 yuan ($515-518) per tonne, up 20-30 yuan per tonneNorthern China (Tangshan): 3,570 yuan per tonne, up 10 yuan per tonneTrading activity in both northern and eastern China remained robust during the day, with buyers still restocking amid short supply,...Read More

British Australian mining giant Rio Tinto has indicated that it intends to exercise its options under a 2017 option-and-joint-venture agreement with Saskatoon-based explorer Star Diamonds, which owns the Fort a la Corne kimberlites in central Saskatchewan.TSX-listed Star Diamonds announced on Friday that Rio Tinto Exploration Canada (RTEC) would exercise all four options – years earlier than...Read More

London-listed Petra Diamonds has sold a 20.08 ct blue diamond, recovered at its Cullinan mine, in South Africa, in September, for $14.9-million.This represents a value of about $741 000/ct.Advertisement"We are very pleased with this result, which is in line with our expectations and confirms the resilience in the value of very high-quality blue diamonds, undoubtedly one of nature's rarest...Read More

Galena provides a leading lightSPONSOREDgalena miningUnder the terms of the strategic cooperation and investment agreement signed in Beijing, China, Cordoba will issue 91.Read More