(IDEX Online) - Russian miner Alrosa is auctioning its large diamonds online, with digital scans of each stone, in response to the coronavirus pandemic.Special size auctions of all diamonds weighing over 10.8 carats regularly take place at Moscow, Vladivostok and other international diamond trading centers and attract up to 100 companies from different countries.Because of lockdowns and travel res...Read More
RAPAPORT... De Beers is allowing sightholders unlimited deferrals at its upcoming rough-diamond sale as manufacturing closures have obliterated demand, market sources told Rapaport News.The rare step follows the shutdown of the Surat polishing industry this week due to the coronavirus, leaving buyers with few opportunities to cut or resell the miner's goods. Sightholders are anticipating rock...Read More
The World Federation of Diamond Bourses (WFDB) has created a World Federation Diamond Trading Platform to provide a secure and reliable source of trading amid uncertain times globally, while promoting trade and healthy competition in the diamond market.The cross-bourse trading platform will be launched soon and will be available for use by all members of the organisation’s bourses.Advertisem...Read More
The global spread of the Covid-19 virus continues to limit deep-sea scrap trading in Turkey, sources told Fastmarkets on Thursday March 26.The finished long steel and billet markets were also seriously down in Turkey because of the outbreak, they added."There has been no export business [for rebar] for the past three weeks - apart from ongoing trades. We are only producing...Read More
RAPAPORT... The Rapaport Group will not publish the Rapaport Price List until May 1, after putting the issue to a vote among members of its RapNet trading network. The latest edition from March 20 is the official Rapaport Price List until such time, Chairman Martin Rapaport said in a letter disclosing the results of the vote.Of the 4,544 votes cast, 3,268 (71.9%) were in favor of postponing the ne...Read More
RAPAPORT... Petra Diamonds, Gem Diamonds, Firestone Diamonds and Lucapa Diamond Company are suspending operations at their mines in South Africa and Lesotho due to government measures to curb the spread of the coronavirus.South Africa has introduced a three-week nationwide lockdown starting this Thursday, prohibiting non-essential business activities. As a result, Petra will place its Cullina...Read More
Dual-listed Botswana Diamonds continues to develop its portfolio of eight exploration projects across three sub-Saharan countries – Botswana, South Africa and Zimbabwe.In South Africa, drilling on the Marsfontein ground-intersected kimberlite continues, where a significant bulk sample of the kimberlitic ground has been recovered and transported for analysis.AdvertisementThis will be processe...Read More
The London Metal Exchange has developed procedures to manage the temporary unavailability of one of its approved warehouses or delivery points that might stem from the Covid-19 outbreak.These measures, which are in line with the exchange's Warehouse Agreement, address potential issues around delivery obligations, warranting and rent payments, it said. "These procedures have been discussed wit...Read More
RAPAPORT... Christie's has pushed back its New York and Geneva jewelry sales as the coronavirus spreads around the world.All three of the auction house's spring Magnificent Jewels sales, which generally occur between April and June, will now take place within a one-month period, according to the company's updated schedule.The New York Magnificent Jewels auction, which was due to take place in Apri...Read More
Prices for bulk cargoes of ferrous scrap imported to Bangladesh sank on Thursday as scrap-heavy steel mills showed less appetite for material, market sources told Fastmarkets.Mills in Bangladesh have been on a bulk-scrap buying bonanza for much of March - securing at least nine bulk cargoes from the United States, Japan and Australia during the month.But purchasing has declined drastically in rece...Read More
Seaborne coking coal prices dropped on Thursday March 26 due to ex-China market participants - particularly those in India - continuing to hold a bearish view on demand, although there was some optimism that prices were approaching a bottom. Fastmarkets Indices Premium hard coking coal, fob DBCT: $153.03 per tonne, down $1.88 per tonne Premium hard coking coal, cfr Jingtang: $158.25 per tonne, up...Read More
The seaborne iron ore market cooled down on Thursday March 26 after gaining ground for two consecutive days, with the lower prices in line with a softer futures curve for rebar. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $86.77 per tonne, down $0.57 per tonne 62% Fe low-alumina fines, cfr Qingdao: $87.64 per tonne, down $1.18 per tone58% Fe fines high-grade premium, cfr Qingdao:&...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 flexibilitySPONSOREDmicromineThrough Resolution 28, the agency has suspended the submission of defenses, evidences, oppositions and...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe 15-day suspension will see the remaining work at the Chuquicamata underground mine, early works at Rajo Inca and construction at the Andina transfer project stop. The stoppages will limit the movement of people across different regions of the country and reduce those using air and land transportation.The stoppages will not impa...Read More
ArcelorMittal Nippon Steel India (AMNS India) is the latest steelmaker in the country to confirm it is reducing production rates due to the Covid-19 coronavirus lockdown in the country."AMNS operations are running at very low capacity, with minimum staff inside its facilities," a company spokesperson told Fastmarkets on Thursday March 26 without revealing details on which units had been&...Read More
India's JSW Steel expects a significant reduction in its capacity utilization rates during the country's 21-day lockdown following its move to suspend or scale down operations across various locations, it said on Thursday March 26."The company has taken the decision to scale down/suspend production to support the cause of containment of the Covid-19 pandemic, notwithstanding the exception to manuf...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 company said yesterday the updated resource comprised an indicated 97.6 million tonnes grading 0.33% total copper an...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe Chilean government agency, ENAMI, wants the ore for processing at its nearby Vallenar processing plant, with the agreement reportedly "safeguarding" 400 jobs.Read More
The London Metal Exchange three-month copper price declined during morning trading on Thursday March 26, with price action consolidating near the $4,800-per-tonne support level amid mild turnover, while tin futures failed to hold gains in a 2.4% downturn. Copper's outright price on the LME was recently at $4,803 per tonne, down by 1.5% from Wednesday's closing price of $4,855 per tonne, while turn...Read More
China's domestic rebar market was steady on Thursday March 26, with sellers keeping prices flat despite rising output in view of lower stock. Eastern China (Shanghai): 3,470-3,500 yuan ($488-492) per tonne, unchanged Northern China (Beijing): 3,380-3,400 yuan per tonne, unchanged End-user demand increased gradually over the past couple of weeks, which drew down steel mills' inventories, sourc...Read More