(IDEX Online) - The future of Baselworld, the world's largest watch and jewelry event, is hanging in the balance after an exodus of five big-name exhibitors.Rolex, Patek Philippe, Chanel, Chopard and Tudor all said they were pulling out of the show - rescheduled for January 2021 because of coronavirus - in protest at the new date and refund policy.The brands they have joined...Read More
(IDEX Online) - India's ailing diamond industry is appealing for government help to cover minimum wages after the country's lockdown was extended to 3 May. Production in Surat, the world's cutting and polishing capital, is at a standstill and an estimated 225,000 migrants - half of its workforce - have returned to their home towns elsewhere in Gujurat. "While wages for March have be...Read More
With declining demand, fast-falling prices and short lead times at domestic steel mills, along with already existing tariffs and quotas on imports, foreign mills interested in the US market face a dilemma: whether or not to lower their prices to match the US level, sources said.If the answer is yes, how low would the price of foreign products have to be in order to attract buyers? That...Read More
Aim-listed Vast Resources has raised £600 000 through a placing of almost 400-million ordinary shares of 0.1p in the company at a price of 0.153p apiece.The placing was undertaken by Axis Capital Markets, which was appointed as a joint broker to Vast.AdvertisementThe cash raised from the placing will be used to maintain the company’s working capital in light of the anticipated con...Read More
Domestic prices for hot-rolled coil in Northern Europe dropped day on day due to low market activity and decreasing import offers, sources told Fastmarkets on Thursday April 16.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?455 ($497.33) per tonne on Thursday April 16, down by ?,?8.33 from ?,?463.33 per tonne on April 15.Offers from Northern European mills hav...Read More
JOHANNESBURG (miningweekly.com) – All mining operations, excluding collieries supplying Eskom which have been permitted to operate at full capacity throughout the national lockdown, may now resume at 50% capacity during the remaining lockdown days, Mineral Resources and Energy Minister Gwede Mantashe said on Thursday.Thereafter, mining capacity would be permitted to increase with a risk-base...Read More
Liberty Steel Group will temporarily idle blast furnace (BF) No2 at its plant in Ostrava in the Czech Republic at the end of April due to the drop in demand resulting from the Covid-19 pandemic, the company said on Thursday April 16."This will allow Liberty Ostrava to better adapt to the significant slowdown in the European steel market, by reducing hot metal production by 20% and [with] more effi...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country's growth outlook at risk. The full scale and impact of the outbreak remain to be seen, but it is cer...Read More
Russia-based diamond miner Alrosa produced eight-million carats of diamonds and sold 9.4-million carats in the first quarter of the year.The company generated sales revenues of $904-million from rough and polished diamonds.AdvertisementThis was despite diamond production seasonally declining by 9% quarter-on-quarter, although year-on-year diamond production growth was 2%. The year-on-year growth w...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this means for the power, coal, gas and LNG, and oil products sectors.Impact on power and coal...Read More
Turkish billet prices increased during the past week due to rising imported scrap costs, sources said on Thursday April 16.Fastmarkets' price assessment for steel billet import, cfr main port Turkey was $375-380 per tonne on Thursday, up $25 per tonne from $350-355 per tonne one week prior.Suppliers in the Commonwealth of Independent States have tried to increase their offers to Turkey as the rebo...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa on Thursday said that it was reviewing various funding scenarios and financing restructuring possibilities amid the global Covid-19 pandemic.A care-and-maintenance and security programme is being implemented at its Mothae operation, in Lesotho, after the South African government effected a nation-wide lockdown which impacted on the flow of esse...Read More
The Renard diamond mine, in the James Bay territory of Quebec, will not reopen yet, despite the province’s government announcing that mining activities can restart as essential services.Diamond miner Stornoway is keeping Renard on care and maintenance, given the structural challenges still affecting diamond market sales, as well as the depressed prices for diamonds owing to Covid-19.Adv...Read More
Look beyond market approach to project valuations: van ZylLeadershipCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesFollowing the release of metallurgical test work results in October 2019, SolGold began engaging with major global co...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources The Toronto-headquartered company said its first seven drill holes tested the shallowest part of the North Zone, which s...Read More
Turkish steel mills have continued to book deep-sea scrap, leaving prices fairly stable on Thursday April 16.A steel mill in the northern Turkey booked a US cargo late on Wednesday, comprising 20,000 tonnes of HMS 1&2 (90:10) and 10,000 tonnes of plate and structural scrap (P&S) at an average price of $262 per tonne cfr. This would put the HMS 1&2 (80:20) price...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.While downward pressure mounts on the steelmaking raw material markets, premiums for higher-grade iron ores have been sustained despite narrowing operating margins at Chinese steelmakers. Chinese mills are operating with shrinking margins since the end of last year but the premium for high-grade ores remains high. Historical...Read More
Seaborne iron ore prices were down on Thursday April 16 with market participants assessing the likely effects of restrictions on blast furnace-based steel output in the Chinese production hub of Tangshan until the end of April, as part of a package of environmental protection measures.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $85.37 per tonne, down by $1.49 per tonne.62% Fe low-alumin...Read More
Seaborne premium hard coking coal prices diverged on Thursday April 16, while prices for seaborne hard coking coal stayed unchanged. Fastmarkets indices Premium hard coking coal, fob DBCT: $130.94 per tonne, up $0.62 per tonne Premium hard coking coal, cfr Jingtang: $138.42 per tonne, down $3.35 per tonne Hard coking coal, fob DBCT: $118.01 per tonne, unchanged Hard coking coal, cfr Jingtang: $127...Read More
Metals prices are in limbo this morning, Thursday April 16, while participants weigh up the stark truth that the global economy is experiencing a slump in demand with the potential for a rebound given all the monetary and fiscal stimulus being thrown at economies around the world. The combination of poor data summed up by the United States’ Empire State manufacturing index falling to -78.2 in...Read More