RAPAPORT... US consumers are planning to spend 4% more this holidayseason, as shoppers between the ages of 18 and 34 expand their circle of giftrecipients, according to the National Retail Federation (NRF). "Younger consumers are helping drive the spending increasethis year," Phil Rist, executive vice president of strategy at ProsperInsights, which ran a survey with the NRF, saidlast we...Read More
RAPAPORT... Alrosa has unearthed a rough stone weighing 232.4 caratsat the Udachnaya pipe, its largest in more than three years. "Such large, gem-quality crystals are extremely rare,"Evgeny Agureev, deputy CEO of Alrosa, said last week. "Of course, they arepresent at Alrosa's deposits, but we have not seen them since 2016, when twodiamonds weighing over 200 carats were mined." The octahedron...Read More
China's hot-rolled coil prices were flat domestically on Monday October 28, while some participants told Fastmarkets export prices would rise as mills shift allocation back to the domestic market amid stable prices.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($495-498) per tonne, unchangedNorthern China (Tangshan): 3,500 yuan per tonne, unchangedDomestic prices remained stable, with trading...Read More
China's rebar prices picked up on Monday October 28 in both the domestic and the export markets, but the outlook among futures traders remained pessimistic. Eastern China (Shanghai): 3,620-3,650 yuan ($513-517) per tonne, up 40 yuan per tonne Northern China (Beijing): 3,580-3,630 yuan per tonne, up 30 yuan per tonneThe spot price rose over the day amid active trading.But participants did not...Read More
(IDEX Online) - AIM-listed mining company BlueRock Diamonds plc has sold a 20.72-carat gem-quality stone recovered from the Kareevlei Diamond mine for $236,000 ($11,389/carat).The company said this was a record price achieved for a single stone. The previousrecord sale was the 24.8-carat stone sold in June 2019 for $190,000 ($7,862/carat).BlueRock executive chairman Mike Houston said the sale cont...Read More
(IDEX Online) - The Gemological Institute of America (GIA) has appointed Mark Buntz as its senior vice president and chief marketing officer to lead its global marketing efforts and drive the future of the GIA brand. He succeeds Kathryn Kimmel, who retired in August after 30 years with GIA. In his new role, Buntz will support the expansion of GIA's education, laboratory services - includ...Read More
(IDEX Online) - Younger consumers are feeling flush this holiday season and look set to increase their spending this year, according to the latest consumer survey from the National Retail Federation."Younger consumers are helping drive the spending increase this year," said Phil Rist, Prosper Insights executive vice president of Strategy. "They're not just spending on their immediate family m...Read More
Aim-listed Botswana Diamonds on Monday announced that its 40%-owned associate Vutomi Mining had been granted a mining permit for the diamond-bearing gravels and residual unprocessed stockpiles around the iconic Marsfontein mine.Vutomi partnered with Eurafrican Diamond Corporate (EDC) to mine and process the identified deposits on both Marsfontein and Thorny River.AdvertisementEDC has started with...Read More
Russian diamond miner Alrosa has unearthed its largest gem-quality diamond in more than three years: a 232.4-ct stone that was unearthed at the Udachnaya kimberlite pipe.The diamond has a yellowish hue and several chips. Its dimensions are 40 ?... 39 ?... 23 mm.Advertisement"Such large gem-quality crystals are extremely rare. Of course, they are present at Alrosa’s deposits, but we have...Read More
Brazilian miner Vale has shortened the terms of contracts for iron ore pellet premiums to a quarterly basis this year to adjust to the market's volatility.Since the third quarter of the year, the company has been negotiating its pellet premiums on a quarterly basis. Vale's pellet premium contracts were previously settled on an annual basis."We started the year with annual premiums [for p...Read More
Golden Mile goes back to the futureSPONSOREDgolden mile resourcesThe 2019 programme comprised 10 holes for 7,610m and its US$9.2 million budget was funded by South32 as the third and final payment under an option agreement. Three of the six holes for 4,596m had contained copper mineralisation and were designed as infill holes to the 300m-to-400m step-out holes completed in 2017 and 2018. Highlight...Read More
Golden Mile goes back to the futureSPONSOREDgolden mile resourcesSpeaking as part of a panel on the outlook for metals, Vanessa Davidson, director of base metals research and strategy at commodity analysis firm CRU, described nickel as "likely to be the stand-outRead More
Turkish domestic auto bundle scrap prices have increased over the past week in line with the rises in imported scrap values, sources said on Monday October 28.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,385-1,555 ($239-268) per tonne on Monday, up from the TRY1,380-1,505 per tonne of last week.Two steel mills raised their buy prices...Read More
Pig iron buyers in the United States have restarted their purchasing activity at higher prices because of a materials shortage, sources told Fastmarkets during the week ended Friday October 25.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $305-312 per tonne on October 25, up from $300-310 per tonne a week earlier.At least four pig iron cargoes were booked from the...Read More
More seaborne iron ore concentrate brands turned from discount to premium against the index last week, while the pellet segment remained weak.ConcentratesFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao was at $95.02 per tonne on Friday October 25, down $0.30 from a week earlier. The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, averaged $95.24...Read More
The zinc price rose in morning trading on the London Metal Exchange on Monday October 28, finding support above $2,500 per tonne, with the forward spreads remaining tight. The three-month zinc price recently traded at $2,530 per tonne, with around 4,300 lots having changed hands by 9:50am London time. Also supportive was the cancellation of 2,125 tonnes across LME-registered warehouses in Asi...Read More
Base metals prices on the Shanghai Futures Exchange were up across the board during Asian morning trading session on Monday October 28, with overall market sentiment buoyed by the positive progress in the trade negotiation between China and the United States, the world's two largest economies. "Risk-on sentiment followed positive news on progress of phase one of the US-China trade deal...... Easin...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday October 25. China Key driversThe price of antimony, MMTA standard grade II, ddp China held steady last week, having previously risen after the auction early in September of stocks held by the collapsed Fanya Metal Exchange. Some domestic antimony suppliers stopped raising their offer prices any further because of a lack of...Read More
U.S. equity index futures were higher overnight. S&P 500 futures were up 9 points in pre-opening trade. The Index is scheduled to open above its previous inter-day all-time high at 3,027.98.Microsoft added $3.37 to an all-time high at $144.10 after winning the JEDI contract from the U.S. Defense Department worth $10 billion. Tiffany jumped $31.46 to $130.00 after receiving a proposed takeover...Read More