RAPAPORT... Alrosa is allowing full flexibility at next week's monthly rough-diamond sale, enabling long-term clients to delay purchases until later in the year due to the current weak market."The spread of coronavirus and counter-pandemic measures implemented around the globe have severely affected the diamond industry," a spokesperson for the Russian miner said Wednesday in a statement to Rapapo...Read More

 RAPAPORT... Lucapa Diamond Company has whittled down activities at its Lulo mine in Angola to essential operations amid a government lockdown on the country.The shutdown, currently in force until April 11, excludes the mining industry, though authorities have stipulated certain health-and-safety measures that companies must take. However, Lucapa has chosen to cut back activities in an e...Read More

Automotive manufacturers in Europe and the UK have extended their previously announced production suspensions following the introduction or extension of national lockdown measures.Shutdowns were announced by carmakers across the continent because of the supply chain problems created by the measures taken by governments to restrict the spread of the Covid-19 pandemic.There are now lockdowns in plac...Read More

Nimesh Patel will step down as CFO of diamond miner De Beers, effective July 26.Patel has resigned to join Spirax-Sarco Engineering as its CFO.AdvertisementPatel joined Anglo American – parent company of De Beers – in 2012 as group head of corporate finance before moving to De Beers Group to take up the role of CFO in 2016.De Beers CEO Bruce Cleaver says Patel has built a strong financ...Read More

 (IDEX Online) - Lucara says its sale of large stones from the Karowe mine, in Botswana, may not take place next month as planned.  The quarterly tender in Gabarone in May is under threat from Covid-19 and may be replaced by sales in Antwerp, the Canadian miner said.  Most of Lucara's revenue comes from the sale stones over 10.8 cts.  Other diamonds are sold on Clara, the...Read More

RAPAPORT... Emerald Expositions has canceled its Couture and Antique Jewelry & Watch shows amid restrictions due to the COVID-19 pandemic.The organizer scrapped the two events due to a government shutdown of unnecessary business operations, a moratorium on large gatherings, and travel restrictions, it said Tuesday. They were scheduled to run from June 1 to 5 alongside the JCK Las Vegas an...Read More

Domestic and import steel billet prices in Turkey have continued to fall over the past week amid lower scrap costs, sources said on Thursday April 2.Turkish scrap import prices have fallen to their lowest in four years, as of March 30. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $201.13 per tonne on Monday March 30, down from $241.63 per tonne...Read More

Aim-listed Vast Resources has noted that all internal processes leading to the conclusion to the Chiadzwa Community Joint Venture (JV), which were expected to be finalised during March, have not completed during the month.This is owing to the Zimbabwe government having declared a 21-day lockdown in response to the Covid-19 pandemic, beginning March 30.AdvertisementVast indicates that it still expe...Read More

(IDEX Online) - Coronavirus saw India's gem and jewelry exports fall by more than half last month. Estimates put the total gross figure for March 2020 at $1.5bn, compared with $3.44bn in March 2019, according to the country's Gem and Jewellery Export Promotion Council.  That's a drop of 56.4 per cent. February figures for the world's cutting and polishing capital were down...Read More

Domestic long steel prices in Turkey have continued to fall because of the coronavirus pandemic over the past week despite a slight recovery later in the week, sources said on Thursday April 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 2,900-2,960 lira ($435-444) per tonne on Thursday, down from 2,950-3,030 lira per tonne last week.Prices have c...Read More

(IDEX Online) - The president of the the world's largest diamond exchange is calling for urgent government help. Yoram Dvash appealed for targeted assistance to the 1,500 businesses that operate from the Israel Diamond Exchange - or Bursa - in Ramat Gan. The vast majority of workers are on unpaid leave, he said, as coronavirus brings trading to a virtual standstill at the Bursa, on which 15,0...Read More

(IDEX Online) - Two more high-profile Las Vegas shows have been canceled, in response to the Covid-19 crisis. The Couture 2020 and the Las Vegas Antique Jewelry & Watch Show had both been due to take place in June. Organizers of both events, Emerald Expositions, said in a statement that it was cancelling or postponing all planned shows through June. Last month JCK Las Vegas, the biggest j...Read More

RAPAPORT... The Dubai Multi Commodities Centre (DMCC) will implement a support package for its trade members amid the coronavirus pandemic, including discounts and fee waivers."In these uncertain times, we have a duty to share the responsibility and support the UAE [United Arab Emirates] government in its response to ensure our national economy remains resilient in the current circumstances,"...Read More

RAPAPORT... De Beers has called off this week's sight in Botswana, citing restrictions resulting from measures to contain the coronavirus.Lockdowns in Botswana, South Africa and India are prohibiting sightholders from traveling and preventing the shipment of merchandise to clients' international operations, De Beers said in a statement Monday. The company is letting sightholders defer 100% of...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe estimate is a slight increase from the $5-5.2 billion prior estimate with cost escalation partially offset by the impact of a weaker Chilean peso. Teck approved the $4.Read More

Iron ore export volumes from Brazil fell by 2.13% year on year in March, with the daily average falling by 15.48% in the same comparison, Fastmarkets understands.The country exported 21.71 million tonnes of iron ore last month, compared with 22.18 million tonnes the year before, according to figures released by the country's Ministry of Economy on Wednesday April 1.A higher number of working days...Read More

The Turkish steel producers have continued to stay away from the deep-sea scrap market, while suppliers were raising their offer prices because of tightening supplies, sources said on Thursday April 2.The most recent deep-sea deals had put prices at $206-207 per tonne cfr for HMS 1&2 (80:20) and mills' expectations since then have been around $200-205 per tonne for similar material.But suppliers w...Read More

The seaborne iron ore market maintained its momentum in March, even with the Covid-19 pandemic causing turmoil for the global economic outlook and leading to steel production cuts and weakening demand outside of China.The monthly average price for 62% Fe iron ore was largely stable at $88.58 per tonne cfr China in March, while that for 65% Fe iron ore was at $103.45 per tonne. The price spread bet...Read More

Seaborne iron ore prices were stable on Thursday April 2, with futures prices on the Dalian Commodity Exchange and Singapore Exchange registering gains, and active physical trading in the Chinese port market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.72 per tonne, up $1.23 per tonne62% Fe low-alumina fines, cfr Qingdao: $84.63 per tonne, up $0.83 per tone58% Fe fines high-grade pre...Read More

The Italian government has announced it will extend the lockdown in the country to manage the spread of the Covid-19 outbreak in the country, keeping already closed steel assets shuttered. Prime Minister Giuseppe Conte announced on April 1 that he had signed a new decree extending the lockdown in the country until April 13, discarding the original end date of April 3. "We are not in the condition,...Read More