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
The aluminium price on Shanghai Futures Exchange rose for a fourth consecutive day on Thursday April 16 in an active Chinese market. The aluminium front month contract on the SHFE touched a fresh one-month high of 12,110 yuan ($1,714.50) per tonne on April 16, up 150 yuan per tonne from Wednesday's close at 11,960 yuan per tonne. This followed an increase of 220 yuan per tonne the day prior,...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade. Index futures moved higher following release of economic news at 8:30 AM EDT. Consensus for March U.S. Housing Starts was a drop to 1.307 million units from 1.599 million in February. Actual was 1.216 million. Consensus for the April Philly Fed Index was a drop to -30.00 from -12.7 in Ma...Read More
China's domestic hot-rolled coil prices strengthened on Thursday April 16 after word spread that Tangshan, the country's steelmaking hub in the northern region, is set to cut steel output.DomesticEastern China (Shanghai): 3,330-3,340 yuan ($471-473) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,260 yuan per tonne, up 40 yuan per tonneTrading picked up across the country during the da...Read More
China's domestic rebar prices were flat on Thursday April 16 although futures strengthened following word that Tangshan would likely impose restrictions on blast furnaces.Eastern China (Shanghai): 3,430-3,460 yuan ($486-490) per tonne, unchangedNorthern China (Beijing): 3,430-3,460 yuan per tonne, unchangedTrading activity was stable in the morning, which kept rebar prices unchanged.Some sellers r...Read More
The three-month zinc price on the London Metal Exchange was up during morning trading on Thursday April 16, with price action supported by a fresh outflow of some 600 tonnes, while steady buying over the morning saw copper hold on to recent gains. Zinc's outright price on the LME was recently seen at $1,946 per tonne, a rise of around 0.8% from Wednesday's closing price of $1,931 per tonne. Turnov...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 Apri...Read More
The Covid-19 pandemic has rapidly hit global electric vehicle (EV) production and sales, and so the broadly anticipated reshuffle of China's EV battery supply chain is likely to speed up in 2020. Many already believed the EV subsidy policy in China that had been scheduled to end in December 2020 would squeeze out some companies in the EV battery supply chain, including producers of precursors, cat...Read More
Key data from the Wednesday April 15 pricing session in Shanghai.Key drivers Cobalt metal price supported by steady local futures, but spot trades were limited because foreign demand for Chinese metal remains soft due to the effects of the Covid-19 pandemic.Cobalt tetroxide price stable since...Read More