Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down. Hot-rolled coil (HRC) prices are now below rebar prices in a phenomenon rarely seen outside of the Chinese domestic markets. HRC import prices in Vietnam have...Read More
RAPAPORT... BlueRock Diamonds improved its bottom line in the first half,as sales grew amid increased production and a higher average price, the minersaid Monday. The company reported a loss of GBP 381,027 ($458,064) fromits Kareevlei mine in South Africa for the six months ending June 30, comparedwith a loss of GBP 1.3 million ($1.6 million) the previous year. Rough sales more than doubled year o...Read More
RAPAPORT... Marie-Chantal Kaninda hasstepped down as executive director of the World Diamond Council (WDC) after two and a half years in the position. "Marie-Chantal's influence on the WDC has been profound,"WDC president Stephane Fischler said Tuesday."As a citizen of the Democratic Republic of Congo (DRC) and a veteran ofthe African mining sector, she brought to the position a sensibility a...Read More
Brazilian steelmaker Gerdau is pushing for a 7% price increase in September while import parity remains low and the domestic construction sector initiates a recovery, equity analysts said.The company has unsuccessfully been trying to readjust its rebar price in the domestic market this year amid falling scrap costs and faltering demand. There seem to be more signs of an improved pricing power, how...Read More
RAPAPORT... Lucapa Diamond Company returned to profit in the first half,amid an increase in sales and a higher average price, the company said Tuesday. The miner recorded a net profit of $1.1 million in the sixmonths ending June 30, compared with a loss of $4.3 million during the sameperiod last year. Sales of rough from the company's Lulo mine in Angola andMothae deposit in Lesotho rose 85% to $2...Read More
RAPAPORT PRESS RELEASE, September 3, 2019, Las Vegas ... Diamond markets were quiet in August, with dealers taking their summer vacations amid uncertainty about the important Hong Kong Jewellery & Gem Fair. Demand from China slowed due to an escalation of the US-China trade war, protests in Hong Kong, and the depreciation of the yuan.Diamond prices continued to soften, with the RapNet Diamond...Read More
The export market for hot-rolled and cold-rolled coil from the Commonwealth of Independent States (CIS) remained constrained this week, but a spike in iron ore price has led to optimism that flat steel prices will not fall further, sources told Fastmarkets. Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $450-460 per tonne on Monday September 2, unchanged week on week....Read More
Marie-Chantal Kaninda, WDC Executive Director World Diamond Council (WDC) is leaving her post after more than two years of service. Kaninda said that her decision to move on certainly does not come "from a place of disillusionment or disappointment, on the contrary, but simply because new opportunity has presented itself, and at this stage of my career I feel that I must seize it." "I will be fore...Read More
The International Jewellery London (IJL) show kicked off on Sunday, September 1, drawing good foot traffic on a sunny, inviting day. The second day of IJL 2019 welcomed the inaugural Jeweller of the Fair, John More, who presented some of his large, silver pieces. For More, who also is a professional dancer, jewelry pieces are all about movement of, the pieces and of the wearers. A specially curate...Read More
RAPAPORT... More than 160 trade groups urged US President DonaldTrump to postpone further tax increases on Chinese goods imported to the US, fearingthey would affect holiday sales. "We are writing with an urgent request that you postponeall tariff-rate increases," the Americans for Free Trade Coalition, whichrepresents members of the industry, said in a letter last week. "[They] come atthe worst p...Read More
RAPAPORT... The South African government is calling for change in thediamond industry after expressing concern about the slow pace of localbeneficiation. The Portfolio Committee on Mineral Resources and Energy hasappointed a regulator to monitor the transformation after a weeklong review andoversight of the South African Diamond and Precious Metals Regulator (SADPMR),mineral research and developme...Read More
RAPAPORT... Hong Kong luxury retail sales fell sharply in July, affected by continuedprotests in the city and an escalation in the US-China trade war. Revenue from jewelry, watches, clocks and other valuablegifts dropped 24% year on year to HKD 5.49 billion ($700.4 million) during the month, themunicipality's Census and Statistics Department reported last week. Sales across all retail categor...Read More
Pioneering geophysical work undertaken by Aim-listed Botswana Diamonds has identified kimberlite pipes buried at shallow depth on the company’s Thorny River prospect, in Botswana.The company says the targets identified are similar to the pipe that constituted the high-grade and famous De Beers Marsfontein mine, in so much as the pipe had little surface indication, owing to dolerite rock cove...Read More
Prices for certain ferrous scrap grades in Mexico's steelmaking region of Monterrey rose week on week, while all prices in Baj?-o were unchanged, and market participants held their breath ahead of the United States' domestic scrap market settlement for September.Fastmarkets' assessment for the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey, was 5,100 pesos per tonne on...Read More
Brazilian iron ore export volumes decreased by 15.48% year on year in August, but revenues soared by 51.61% due to higher prices.The country exported 30.11 million tonnes of iron ore last month, compared with 35.62 million tonnes in the same period in 2018, according to figures released by the Brazilian economy ministry on Monday September 2.But export revenues amounted to $2.49 billion, against $...Read More
The uptrend in the iron ore market since 2019 started halted in August, with a month-on-month price decline of 24% for 62% Fe material and a 23% price decline for 65% Fe material.The 65% Fe derivatives contract on the Singapore Exchange - which was launched in December 2018 and settled against Fastmarkets' daily 65% Fe iron ore index - stayed above 2-million-tonne trading volumes in August, compar...Read More
Physical iron ore prices were down on Tuesday September 3 amid a cooling off in buying interest while the futures market stayed largely rangebound.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $89.14 per tonne, down by $1.44 per tonne.62% Fe Pilbara Blend Fines, cfr Qingdao: $89.53 per tonne, down by $1.44 per tonne.62% Fe low-alumina fines, cfr Qingdao: $86.80 per tonne, d...Read More
Seaborne coking coal prices remained steady on Tuesday September 3, although Australian rail freight operator Aurizon reported service cancellations due to a train derailment in Queensland.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.01 per tonne, unchanged Premium hard coking coal, cfr Jingtang: $167.54 per tonne, unchanged Hard coking coal, fob DBCT: $134.01 per ton...Read More
China's hot-rolled coil exporters lowered their offers on Tuesday September 3 despite domestic prices edging up further.DomesticEastern China (Shanghai): 3,650-3,670 yuan ($509-512) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,640-3,650 yuan per tonne, up 10 yuan per tonnePrices continued to rise, with trading activity being described as stronger than previous days, according to a S...Read More
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