RAPAPORT... The International Gemological Institute (IGI) recently graded a 10.06-carat, fancy-vivid-pink lab-grown diamond that had previously been submitted as a fancy-intense yellow.The stone, which IGI had already fully assessed and graded in its original state, was returned in July for a second round, the lab said Tuesday. IGI found that the lab-grown diamond's color had been shifted using a...Read More

RAPAPORT... Antwerp-based diamond manufacturer HB has hired Boaz Lev as operations director and one of its managing partners.Lev spent 12 years at Malca-Amit, where he was the managing director of its Belgium division, helping to introduce several of the logistics company's services for the diamond trade.HB, which diamantaire Oded Mansori established, gained prominence this year after partnering w...Read More

The spread between copper scrap and refined copper continued to widen in August amid the copper price rally and minimal buying interest from the Chinese due to logistics and customs clearance worries in the coming months.Fastmarkets assessed the price of copper scrap No 2 copper (birch/cliff) imported into China 94-96% LME/Comex discount, cif China basis at 32-36 cents per lb on Friday August 28,...Read More

Traders who recently left copper merchants Werco are setting up a base metals unit at Vanomet in Zug, Switzerland, Fastmarkets understands. Theresa Nepote, Simon Zahno and Marcel Lustenberger, who made up the bulk of Werco's Swiss trading team, left the company in July. The unit, which is...Read More

A western aluminium producer has concluded a deal for delivery throughout the fourth quarter to main Japanese ports (MJP) at a premium of $88 per tonne on a cif basis, market participants told Fastmarkets on Wednesday September 2. The sale is the first from a producer this quarter and comes after several trader sales were reported. Sources close to the matter also confirmed on Wednesday that a tra...Read More

(IDEX Online) - Sales of jewelry and other luxury goods in Hong Kong fell by more than half in July, according to new figures.It was the worst affected sector of all, with a year-on-year decline of 53.7 per cent to $328m.Sales were hit by the ongoing coronavirus pandemic, a two-week quarantine requirement for tourists from mainland China, and continuing anti-government protests.Figures for the fir...Read More

(IDEX Online) -  Gem Diamonds has recovered another large Type II white diamond at its Letseng mine, in Lesotho.News of the 223-carat stone comes just days after the London-based miner announced a 442-carat diamond, valued at $18m.Letseng is the highest dollar per carat kimberlite diamond mine in the world and has yielded 60-plus white gem quality diamonds over 100 carats since it was acquire...Read More

RAPAPORT... Gem Diamonds has unearthed a high-quality, 233-carat, type II diamond from its Let??eng mine in Lesotho, the company said TuesdayThe discovery is the fifth rough stone over 100 carats that Let??eng has yielded this year, according to Rapaport records. It follows that of a 442-carat, type II diamond that was recovered on August 23, the company said Tuesday. That stone is one of the larg...Read More

Domestic Chinese copper cathode premiums dropped sharply in the week to Tuesday September 1 to their lowest level in six months, while a climbing outright metal price and tight forward spreads kept premiums in Europe and the United States unchanged. Demand falters in China amid oversupply  European cathode availability high; market quiet  Rio Tinto's Kennecott mine closure keeps US marke...Read More

(IDEX Online) - Industry veteran Kim E. Pelletier has been appointed as CEO of Get Diamonds, the new diamond trading platform launched by World Federation of Diamond Bourses (WFDB).She has worked in the past for De Beers, Polygon, Hearts On Fire, John Hardy, Stephen Dweck, Michael Aram and, most recently, for De Beers Sightholder IGC NV. "I am both thrilled, and humbled, to be offered this ex...Read More

The Chinese spot nickel pig iron (NPI) price rose to its highest level of this year on Friday August 28, supported by decent demand, high costs and a rising London Metal Exchange nickel price. Fastmarkets assessed the nickel pig iron, high-grade NPI content 10-15%, spot, ddp China price at 1,130-1,150 yuan ($165-168) per nickel unit on Friday, the highest so far this year and a level last see...Read More

Chinese premiums of nickel plate remained weak, but prices of nickel pig iron (NPI), nickel ore and nickel sulfate all refreshed the highest level hit this year while premiums in the United States were unmoved amid a holiday trading hiatus, Fastmarkets heard.Chinese prices of NPI, nickel ore and nickel sulfate all up, while nickel plate premiums unchanged. US premiums static due to holidaysStronge...Read More

Iranian export billet and slab prices increased in the week to Wednesday September 2, with fresh transactions completed at higher rates after semi-finished values edged up in Asia, sources told Fastmarkets.Mobarakeh Steel sold a cargo of slab at $425 per tonne fob Black Sea this week and its subsidiary Hormozgan Steel sold another cargo at $422 per tonne fob last week, market participants sai...Read More

Turkey exported 511,188 tonnes of flat steel products in July 2020, according to the Turkish Statistical Institute (TUIK), up by 10.36% year-on-year from 463,220 tonnes exported in July 2019.The main reason for the increase was the rise in tonnages of cold-rolled coil and coated coil exports in July.Turkey made several export deals for hot-dipped galvanized coil in May and June, which were deliver...Read More

Producers of steel mesh quality wire rod in the south of Europe push for higher prices on increased feedstock costs and a demand recovery, while in the north prices were flat after an increase last week, source told Fastmarkets on Wednesday September 2. Southern Europe Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe increased to ?,?4...Read More

Bullish rebar suppliers in the south of Europe have pushed their prices upward on the firmness of scrap costs and a post-holiday pick-up in demand, while in the north of the region prices only narrowed upward following an increase last week, sources told Fastmarkets on Wednesday September 2.Southern EuropeFastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered S...Read More

Turkey imported 659,179 tonnes of flat steel in July 2020, up by 8.24% from 608,982 tonnes in July 2019, Turkish Statistical Institute (TUIK) said this week.The reason for the increase in imports was strong buying in May, when orders to be delivered in June were placed, Fastmarkets understands.Demand for flat steel is currently moderate in Turkey but prices have been increasing in line with rising...Read More

Markets were mixed this morning, Wednesday September 2, with base metals prices on the London Metal Exchange little changed, the dollar was firmer and Asian-Pacific equities, as well as pre-market major western equity index futures, were stronger too.The main supporting factor seems to be Tuesday’s manufacturing purchasing managers’ index (PMI) data that for the most part showed robust r...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesCopper production is close to recovering to its typical pre-COVID-19 levels rate with July production coming in at 198,796 tonnes, a 10% increase over the 180,792t produced in June.Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesUnder a 2019 deal, RTEC can earn up to 80% of Janice Lake by spending C$30 million on exploration and making staged cash payments to Forum and project generator Transition Metals.Forum said the RAB drilling was a quick and cost-effective method of testing "numerous showings" which had not seen historical drilling, and would aid in...Read More