Zinc premiums in Northern Europe have risen with falling zinc prices, while spreads on the London Metal Exchange went into backwardation. Meanwhile, lead premiums were broadly flat with many market participants attending an industry conference. Zinc premiums for Northern Europe rose slightly with summer holiday absences ending and prices on the LME declining An upward movement in Malaysia better r...Read More

European buyers stayed on the sidelines in the week to Tuesday September 3 after the London Metal Exchange nickel price hit a five-year high, and caution later spread to buyers in the United States. Europe sees little spot trade with metal prices soaring on fears of future shortages.  US briquette premiums rose on the low end, but market does not expect it to last.  Asian premiums fall...Read More

A sustained weakness in the United States' Midwest aluminium premium and increased barge freight rates pushed the estimated arbitrage between Southeast Asian warehouses and the United States to an 18-month low.The narrowing arbitrage follows on from a continual dip in regional aluminium premiums in the US.Fastmarkets' assessment of the monthly average midpoint for the aluminium P1020A premium, ddp...Read More

TheLondon Metal Exchange three-month copper price increased during morning trading on Wednesday September 4, paring back the bulk of Tuesday's losses, while high turnover also drove tin's outright price higher. Copper futures improved by some 1.6%, trading at an intra-morning high of $5,700 per tonne, while around 5,500 lots had been exchanged by 9am London time. The red metal's three-month p...Read More

Flat steel producer ArcelorMittal Italia will "continue operations beyond" September 6 at its plant in Taranto, Italy, despite the country's adoption of the so-called Crescita Decree law, the company said on Wednesday September 4.The steelmaker had previously expressed concerns that the adoption of the decree would threaten the operation of the plant.On September 4, Italian authorities adopted the...Read More

Dutch steel wire products supplier Van Merksteijn has put a temporary hold on the construction of a new integrated wire rod mill at Eemshaven in the northern Netherlands.The reasons for the decision were the fast-changing external circumstances in the past half-year, the current climate for investment in the Netherlands, and the significant economic insecurities that lie ahead, the company said on...Read More

RAPAPORT... As a tech guy, Jim Duffy spends much of his time on the road explaining technical terms in a way laymen can understand. He has his work cut out for him as CEO of Tracr, De Beers' blockchain project - especially in the traditionally low-tech diamond industry, which, he notes, is a conglomeration of family-owned businesses. Duffy's immediate agenda, beyond developing the platform, is cle...Read More

RAPAPORT... The International Gemological Institute (IGI) has appointedAvi Levy president of its North American business, where he will be tasked withexpanding the group's international identity. "I look forward to growing [IGI's] current relationships, aswell as forging new strategic alliances, with a concentrated focus on gainingfurther recognition and expansion of the IGI global brand," Levy sa...Read More

RAPAPORT... Angola is looking to expand its diamond operations, andhopes to create businesses across all points of the sector, including manufacturingand jewelry. The country recently inaugurated its third diamond-cuttingand production factory, Pedra Rubra, which will also manufacture jewelry forits five stores in Luanda. The facility, which cost $5 million to build, willprocess 5,000 carats of ro...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

On October 11, the Jewelry Industry Summit will hold a first in a series of informative and timely webinars designed to support and activate businesses engaging in responsible sourcing.  The series, entitled "Fast Forwarding Sustainability" will provide guidance and real actions that jewelers can take now to engage in this important topic. The title of this first offering: "Tools to Kick-Sta...Read More

Steel H-beam prices in Northern and Southern Europe moved in different directions this week, although both regions reported weak levels of trading activity, sources told Fastmarkets on Wednesday September 4.Fastmarkets' price assessment for steel beams, domestic, delivered Northern Europe, was ?,?565-600 ($619-657) on September 4, down from ?,?575-605 per tonne a week ago.One market participa...Read More

The International Gemological Institute (IGI) has appointed Avi Levy to serve as the new president of IGI North America. Avi succeeds seasoned industry veteran Jerry Ehrenwald, GG, ASA, who has served as IGI North America president and CEO since 1991. With 30 years of fine jewelry-related expertise, "Levy brings valuable experience to the Institute including diamond sourcing, manufacturing, produc...Read More

PERTH (miningweekly.com) – Diamond miner Lucapa has reported record monthly production from both the Lulo and Mothae diamond mines, in Angola and Lesotho respectively.The Lulo mine produced 3 180 ct in August, while the Mothae operation recovered a record 2 911 ct in the same year.AdvertisementLucapa on Tuesday also reported a consolidated net profit after tax of $1.1-million for the six mon...Read More

Four renowned gem labs will be offering their services to exhibitors and buyers during the upcoming Hong Kong Gem & Jewellery Fair later this month. HRD Antwerp NV promises "super fast service" to those submitting their diamonds for grading and sealing at its booth before 12 P.M. Clients doing so will see them returned the next day. HRD Antwerp's booth is AWE - 5B18 at the AsiaWorld-Expo...Read More

Lucapa reported that it had "delivered on key development and operational goals at the Mothae and Lulo diamond mines" during the first half of 2019. The junior diamond miner reported a consolidated net profit after tax of US$1.1 million, opposite a US$4.3 million loss in the first half of 2018. "This result was achieved during a challenging period for many diamond miners globally, particularly th...Read More

In an interview published by the South China Morning Post, Victoire de Castellane, chief of jewelry at the French fashion, jewelry and luxury house of Dior, said that "precious gems will get terribly expensive and maybe we'll find something different and start using other materials," she says. "But I'm conflicted about lab-grown diamonds, because if you can make a lot of them, how is it...Read More

US ferrous scrap exporters have conceded that the global and domestic scrap markets are under pressure and have continued to sell cargoes at deeper discounts.Two East Coast deals to Turkey have been concluded at lower prices this week.One East Coast exporter sold a 30,000-tonne cargo on Tuesday September 3, priced at $261 per tonne cfr for 17,5000 tonnes of an 90:10 mix of No1 and No2 heavy meltin...Read More

The US stainless steel scrap market is in a state of flux as market participants try to digest nickel's recent rally.The LME's cash nickel contract closed the official session at $17,910 per tonne ($8.12 per lb) on Wednesday September 4, up 11.8% from $16,025 per tonne ($7.27 per lb) a week ago. The contract jumped sharply, by $2,280 per tonne ($1.03 per lb), between Thurs...Read More

Turkish steel producers have bought several deep sea cargoes from various locations at heavily reduced prices, sources told Fastmarkets on Wednesday September 4.There were three confirmed cargoes today - two from the United States and another from the United Kingdom.A steel mill in the Marmara region purchased a UK cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $250 per tonne cfr. This compa...Read More