RAPAPORT... Belgian and Israeli industry organizations are jointly organizing a virtual trade show to compensate for the cancellation of major exhibitions around the world.The Online Diamond Trade Fair will run from March 30 to April 3, the Antwerp World Diamond Centre (AWDC) and the Israel Diamond Institute (IDI) said in a note to dealers Tuesday. It will be open only to exhibitors from Antw...Read More
The pricing trend of coated products in the United States is not being driven by what is happening at the moment, but by what is expected to happen in the next few months or the rest of the year, market participants told Fastmarkets.Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US climbed to $39 per hundredweight ($780 per short ton) on Tuesday March 17, down b...Read More
RAPAPORT... The organizers of the JCK Las Vegas and Luxury jewelry shows have delayed the fairs due to growing concerns over the coronavirus."Our top priority is the health and safety of our exhibitors, attendees, industry partners and staff," JCK said Tuesday. "After consulting with national experts [and] our customers, closely monitoring developments and reviewing guidance and advice...we have d...Read More
Wire rod prices and demand in the United States remained steady for the second month in a row, while sources were wary of the potential market impact from the spread of the coronavirus (2019-nCoV).Fastmarkets' assessment for steel wire rod (low carbon) industrial quality, fob mill US held at $31-32 per hundredweight ($620-640 per short ton) on Tuesday March 17, unchanged from the previous month. F...Read More
RAPAPORT... The Kimberley Process (KP) Intersessional Meeting will take place as a virtual conference this year, as European borders close to travelers due to the coronavirus pandemic.The annual forum, in which member states, civil societies and the diamond industry come together, was scheduled to take place in Moscow from June 8 to 12."COVID-19 is a global challenge without parallel in our l...Read More
(IDEX Online) - Online trading will help the diamond industry ride the Covid-19 storm, the president of the World Federation of Diamond Bourses said today."We are fortunate that both ecommerce and digital platforms have developed to quite an extent; they can be the vehicles for business in these times of social distancing," said Ernie Blom, president of the federation, which represents 30 bourses...Read More
(IDEX Online) - India's diamond bosses have voted unanimously to carry on working, despite fears over the Covid-19 pandemic.Stakeholders rejected proposals for a 15-day shutdown in Surat, the world's cutting and polishing capital, which employs 550,000 workers.Factory owners in Surat pledged instead to take precautions - hand sanitizers, face masks and regular screening of the diamond wo...Read More
(IDEX Online) - JCK Las Vegas, the biggest jewelry show in North America, has been postponed.Organizers say it's a "precautionary measure" to prevent the spread of the coronavirus.Two weeks ago, they announced that the event, which attracts over 30,000 of the world's most influential industry professionals, would be taking place as planned from 2 to 5 June at the Sands Expo & Convent...Read More
Hot-rolled coil prices have continued to decline in the United States due to muted buying activity and concerns stemming from the novel coronavirus (2019-nCoV) outbreak.Fastmarkets' daily steel hot-rolled index, fob mill US was calculated at $28.23 per hundredweight ($564.60 per short ton) on Wednesday March 18, down by 1% ($0.29 per cwt) from $28.52 per cwt on Tuesday March 17 and...Read More
ASX-listed Lucapa Diamonds has recovered a top-quality 64 ct D-colour Type Ila diamond at the Mothae project, in Lesotho.The 64 ct diamond is the twelfth diamond larger than 50 ct recovered at the mine since commercial production started in January 2019.AdvertisementThis recovery “underlines Mothae’s status as a source of large and premium-value diamonds,” Lucapa said in a releas...Read More
Canada’s Mountain Province Diamonds said on Tuesday that its current sale had been postponed until further notice, as a result of the city-wide closures taking effect in Antwerp, Belgium this week.The sale is the company’s third diamond sale of the year. Mountain Province cautioned that, depending on the length of the closure period imposed, future sales could also be impacted.Advertis...Read More
De Beers, already grappling with a prolonged industry crisis exacerbated by the coronavirus outbreak, now has another headache to contend with: how to conduct diamond sales when key customers are blocked from traveling?Botswana, where De Beers conducts its 10 sales each year, on Monday announced a travel ban on 18 high-risk countries as part of an array of measures to protect itself from the pande...Read More
Prices for hollow steel sections in Europe were unchanged this week despite a slowdown in trading while the 2019-nCoV coronavirus spread across the region, sources told Fastmarkets on Wednesday March 18.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($664-697) per tonne on Wednesday, unchanged week on week."It's becoming more a...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 resourcesMICROMINE STRENGTHENS DATA MANAGEMENT SOLUTION WITH Geobank 2020SPONSOREDmicromineMilitary personnel have been deployed in capital Lima to shut major roads, while police are restricting...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe country is one of many jurisdictions to declare a state of emergency due to the spread of COVID-19.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe ratings agency research arm suggested technology and productivity advances could effectively combat long-term cost increases from declining average grades, and higher material movement requirements, to maintain output rates at some mines.New projects in Australia and the Americas (and, potentially, Africa) could lift mine...Read More
The United States' ferrous scrap export market faces negative pressure after a Canadian sale to Turkey at a steep drop, while East Coast docks begin an aggressive plan to lower buying prices more frequently than weekly and West Coast docks starve for material due to inbound flows halting in some areas. A Canadian exporter sold a cargo on Wednesday March 18 that includes a 90:10 mix of No1 and No2...Read More
Turkish steel producers resumed their deep-sea scrap bookings for April shipment cargoes with prices down sharply, sources said on Wednesday March 18.A steel mill in the Marmara region booked a Canadian cargo, comprising 18,000 tonnes of HMS 1&2 (90:10), 20,000 tonnes of shredded and 12,000 tonnes of plate and structural (P&S) scrap at an average price of $255 per tonne cfr.Market sources cal...Read More
Despite massive rescue packages announced by governments around the world, equity indices are still falling - as are most of the base metals - this morning, Wednesday March 18.But we are starting to production halts emerge in the metals, so both the demand and supply sides of the supply/demand equation are now likely to be reined in. Although with economic activity in Europe slowing, demand is lik...Read More
Reductions to shipping and port fees comprise the latest weapon for Chinese steel exporters amid their country's efforts to cushion the effects of the 2019-nCoV coronavirus outbreak.China has halved the oil pollution compensation fees and canceled port construction charges for all vessels entering or leaving the country, in a move to soothe the economy further, the state council announced on Monda...Read More