Key pricing data from the pricing session for Fastmarkets' alumina index, fob Australia, on Thursday April 2.Key drivers Fastmarkets' daily alumina index, fob Australia, was calculated at $237 per tonne on Thursday, down from $241.52 per tonne the day before and down by more than 11% from $268.33 per tonne on Thursday last week. The index is now at its lowest since September 26, 2016, when...Read More

The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Thursday April 2, climbing by 1.5% despite a three-month low in turnover, while an afternoon rally did little to push aluminium above nearby resistance.Zinc's outright price on the LME closed at $1,887.50 per tonne at the 5pm London close on Thursday, up from an intraday low of $1,844 p...Read More

Chilean copper mine Collahuasi has temporarily slashed its on-site workforce by 40% and scaled back operations in an attempt to reduce the Covid-19 virus spread among its employees and contractors, the company said on Thursday April 2. The miner, formally known as Compa???-a Minera Don?? In?(C)s de Collahuasi, had already implemented home-office practices, especially for workers ages 65 and above...Read More

The London Metal Exchange three-month aluminium price declined during morning trading on Thursday April 2, with a fresh inflow of more than 48,000 tonnes pressuring price action lower, while pandemic-related risk-aversion led the rest of the complex consolidate. LME aluminium's outright price was recently at $1,483.50 per tonne, a drop of 0.74% from Wednesday's closing price of $1,499.50 per tonne...Read More

Newmont will close its Pe??asquito lead-zinc-silver mine in Mexico after the country mandated the immediate suspension of all non-essential business until April 30. An order from Mexico's Ministry of Health became effective as of a March 31 publication in the country's Official Gazette of the Federation. Mining has not been deemed an essential activity under the decree,...Read More

Brazilian flat steel producer Usiminas has decided to shut down two blast furnaces at its Ipatinga unit and halt its Cubat??o steelmaking facility in order to adjust its production to lower demand resulting from the outbreak of Covid-19, the company said on Thursday April 2.The company will shut down the No2 blast furnace on April 4, and also its No1 blast furnace on April 22, both located at its...Read More

Diamond markets under continued pressure and facing severe liquidity crisis as jewelry retail, manufacturing, trading and mining companies shut operations during COVID-19 lockdown. Trading limited to online deals, with opportunistic buyers pushing for even higher discounts. 1 ct. RAPI -6.8% in March. China business reopening amid new coronavirus reality. Signet Jewelers temporarily lays off worker...Read More

Hot-rolled coil prices in the United States have rebounded on what appears to be increased pricing volatility rather than an improvement in supply-demand fundamentals, market participants indicated.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $26.65 per hundredweight ($533 per short ton) on Thursday April 2, up by 1% ($0.26 per cwt) from $26.39 per cwt on Wednesday...Read More

RAPAPORT... Martin Rapaport, chairman of the Rapaport Group, explained how the Rapaport Price List works during a webinar this week. He clarified its role as a list of high asking prices, and gave an overview of the data and resources the company uses to decide on price changes.Watch the full webinar here:Read More

RAPAPORT... De Beers chief financial officer Nimesh Patel will exit the company on July 26 to become CFO and executive director at UK-based Spirax-Sarco Engineering.Patel joined De Beers parent company Anglo American in 2012 as group head of corporate finance. He moved to the diamond miner in 2016 as CFO, becoming a member of its executive committee and board."Nimesh has worked closely with m...Read More

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