RAPAPORT... Alrosa has appointed Nikolay Gorokhov head of its Vladivostok division.Gorokhov, who began working for Alrosa in 2001 in its Yakutsk Diamond Trading Company, will be responsible for rough-diamond sales in Vladivostok, the Russian miner said last week. He will also oversee logistics, Chinese market research and increasing the division's efficiency.Gorokhov replaces Semyon Lavrentiev, wh...Read More

RAPAPORT... The organizer of the Hong Kong shows scheduled for May has stopped preparations for the events, as quarantine rules in the municipality have made it impossible to host an international fair.Measures enforced by the Hong Kong government on March 19 require all travelers arriving in the city to isolate themselves for 14 days to stem a second wave of coronavirus cases. The rule will...Read More

NLMK USA plans to take a three-week outage in June to make upgrades to its flat-rolled steel mill in Portage, Indiana, the company's top executive said."We have a major skid project in Indiana that impacts the reheat furnace in Indiana," NLMK USA president and chief executive officer Bob Miller said in an email to Fastmarkets AMM.The project was planned in advance and is not the result of the Covi...Read More

RAPAPORT... The London Diamond Bourse (LDB) will close from Wednesday as the coronavirus spreads in the UK."The committee has come to the decision that it is in the best interest of our staff and members to close the bourse," the exchange said last week. "First and foremost, the LDB has a duty of care...and whilst we have been following rigorous health-and-safety guidance from Public Health E...Read More

(IDEX Online) - Tiffany has reported a $4.4 billion profit for last year, matching its record high in 2018.It said its focus now was on a return to normal after the coronavirus pandemic.The New York-based jeweller said profits for Q4 were down two per cent to to $201 million, partly as a result of costs involved in the proposed $16bn acquisition by the French luxury goods group LVMH (Mo?? <Read More

(IDEX Online) - Canada's oldest diamond mine has been closed to prevent further spread of coronavirus.Some employees claim they've been told it could be four months before the Ekati mine re-opens, according to local media reports. Ekati has been in operation at a remote location 300km north east of Yellowknife in Northwest Territories, close to the Arctic Circle, since 1998.Calgary-based...Read More

Tata Steel India is to install a slab conditioning line at its Kalinganagar works in the state of Odisha to serve the automotive market, equipment provider SMS Group said in a press release on Thursday March 19.The scarfing line will process slabs to remove surface and subsurface defects, which is required by some car manufacturers for steel to be used in vehicle-body applications.It is hoped that...Read More

(IDEX Online) - Signet, the world's largest retailer of diamond jewelry, is closing all its North American stores, but those in the UK will remain open.As the coronavirus pandemic spreads globally, it says it is being guided by its "core value of People First". Staff will be paid until 4 April.All Signet's stores in the USA and Canada, most of them trading as Kay Jewelers, Zales, Jared,...Read More

RAPAPORT... Tiffany & Co. reported solid sales in fiscal 2019 as it introduced new products and sold higher-value jewelry.Group revenue was flat at $4.4 billion for the year ending January 31, matching the record annual sales figure the company reported in 2018. Sales increased 2% to $1.3 billion in the Asia-Pacific region, while revenue in the Americas fell 2% to $1.9 billion. Sales in J...Read More

Another set of major US automakers will extend manufacturing shutdowns due to the impact of the novel coronavirus (2019-nCoV).Hyundai Motor Manufacturing Alabama (HMMA) said in a statement it would extend suspension of production of automobiles in Montgomery, Alabama for seven days beginning Monday March 23 through Tuesday March 31. The suspension will reduce production by approximately 10,00...Read More

Steel plate prices in the United States held steady this past week while market participants attempted to measure the impact of the Covid-19 pandemic on production and demand. Most buyers said they had paused spot orders as last week progressed. With stay-home mandates proliferating in an increasing number of states - some accompanied by a suspension of construction projects - market par...Read More

Fastmarkets will continue to provide the price data, news and analytics you rely on in these turbulent times.Dear Colleagues,First and foremost, we hope that you, your family, your friends and your colleagues are keeping well in these uncertain times. Covid-19 has disrupted our economy, our normal work patterns and, for many, our lives. Before I speak to the status of our business continuity...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesKSDD007, which was drilled 100m south of thick mineralisation from two earlier holes in the program, delivered a stunning 1167m at 0.55 grams per tonne gold and 0.Read More

Brazilian mining company Vale reverted to a previous decision to temporarily stop activities at Teluk Rubiah Maritime Terminal (TRMT), its distribution center in Malaysia, due to intermittent material supply.The distribution center will remain closed until Tuesday March 31 at a minimum, the company said on March 23. Ships will then be redirected to blending units in China, adding that ov...Read More

The Turkish deep-sea scrap import market started the week in silence on Monday March 23, with some fearing the worst is yet to come with regard to the impact of the novel coronavirus (2019-nCoV), sources told Fastmarkets.The market has been quiet since a $23.90-per-tonne day-on-day price drop on Wednesday March 18, following news of a fresh cargo.Since then, market participants have turned increas...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe discovery, called Gregors, followed geochemical and geophysics work carried out over a number of years due to changing ownership structures at the now 100% Azure-held prospect.Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThe convenience of one provider with pay-as-you-need flexibilitySPONSOREDmicromineSo far, Latin America has not seen widespread outbreaks of the virus in the same way Asia, Europe and N...Read More

Turkish domestic auto bundle scrap prices have fallen sharply over the past week, in line with declining scrap import values, with some mills stopping their scrap purchases, sources said on Monday March 23.Turkish scrap import prices fell by 9% last week, amid the novel coronavirus (2019-nCoV) pandemic.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $249.0...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesPresident Martin Vizcarra announced emergency measures which include 15 days of obligatory self-isolation, closure of the country's borders and a temporary end to international flights.In recognition that not all aspects of mining operations can be stopped, the Ministry of Energy and Mines has given miners a partial exception allow...Read More

Seaborne coking coal prices retreated on Monday March 23, with fears of a global economic downturn taking hold due to the spread of the novel coronavirus (2019-nCoV), even though sentiment among Chinese participants was starting to become more optimistic.Fastmarkets IndicesPremium hard coking coal, fob DBCT: $159.43 per tonne, down $1.22 per tonnePremium hard coking coal, cfr Jingtang: $...Read More