Dealers optimistic aheadof Vegas shows, despite sluggish May trading. 2018 looking better than 2017. GemGen??ve demonstrates robust high end. Sotheby's Genevasells $86M (82% by lot) as pear-shape, 6.16 ct., fancy dark grey-blue, SI1diamond fetches $6.7M ($1.1M/ct.). Christie's Geneva garners $82M (88% by lot),with cushion, 50.47 ct., D, VVS1 Harry Winston diamond going for $6.5M ($129K/ct.).India'...Read More

SHANGHAI, May 17 (SMM) – Spot copper was mostly offered at a discount of 90-20 yuan/mt over the SHFE 1806 contract on Thursday May 17 in the Shanghai market. Discounts narrowed from 120-60 yuan/mt the previous day.Sellers raised offers from Wednesday as the SHFE 1806 contract soared to a high of 51,070 yuan/mt this morning.Buyers favoured high-quality copper and this narrowed...Read More

The deal involves 62.6 million class A shares in SQM at $65 per share, although Nutrien will keep its 20.2 million class B shares for the moment before divesting them in due course.Read More

Turkish domestic and export prices for steel billet have gone down over the past week in line with weakening rebar and scrap prices, while billet import prices have gone up because of positive sentiment in the CIS market, sources said on Thursday May 17.Domestic billet prices in Turkey have weakened with mills reducing their offers for the material under pressure from the falling rebar and scrap c...Read More

(IDEX Online) - Global consumer demand for diamond jewelry hit a new all-time high in 2017, climbing to $82 billion, a 2% increase on the previous year, according to industry insight data published by De Beers Group.   The US was the main driver of growth for the fourth consecutive year, where positive macroeconomics and strong consumer confidence saw demand for diamond jewelry increase 4% to...Read More

JOHANNESBURG (miningweekly.com) – Global consumer demand for diamond jewellery hit a new all-time high in 2017, climbing to $82-billion, a 2% increase on the previous year, according to industry insight data published by De Beers on Thursday.The US was the main driver of growth for the fourth consecutive year, where positive macroeconomics and strong consumer confidence saw demand for diamon...Read More

SHANGHAI, May 17 (SMM) – China will withdraw tax exemptions on purchases of 319 models of new-energy vehicles (NEVs), the Ministry of Industry and Information Technology (MIIT) said on Thursday May 17.The NEVs will be removed from the list of NEVs that are exempted from purchase tax, as no output or imports of those vehicles were seen as of the end of April 2018 from when...Read More

It said the dividend was in accordance with its policy of distributing at least 15% of annual net profit after tax and would be paid on June 20.Read More

The price of imported steel billet in Egypt has gone up this week although local rebar prices are unchanged, sources told Metal Bulletin on Thursday May 17.The country's rebar biggest producer, Ezz Steel, is still offering material at E ?12,528 ($700) per tonne ex-works, including 14% VAT, while Beshay Steel, also a major domestic producer, is offering...Read More

(IDEX Online) - ALROSA CEO Sergey Ivanov has held a business meeting with the Chair of the Kimberley Process (KP), Hilde Hardeman, during her visit to Moscow.   Hardeman and Ivanov discussed the agenda of the European Union's (EU) chairmanship of the KP this year, prospects of the further development of the KP and the improvement of the KP Certification Scheme, ALROSA said in a statement...Read More

Martin Place Securities executive chairman Barry Dawes told the inaugural ResourceStocks Sydney conference this week  that "the copper price has got to go much higher as we go forward" - referring to recent data and bullish assessments from red metal majors.In the US, the S&P500 metals and mining sector gained 2.62% yesterday, largely due to copper producer Freeport-McMoran's (NYSE: FCX)...Read More

SHANGHAI, May 17 (SMM) – Spot copper in the Shanghai market was offered at a discount of 90-40 yuan/mt over the SHFE 1806 contract on the morning of Thursday May 17, SMM learned.This compared with a discount of 120-80 yuan/mt over the SHFE 1806 contract the previous morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access...Read More

(IDEX Online) - Stephane Fischler, acting president of the World Diamond Council (WDC) and Marie-Chantal Kaninda, executive director of the WDC, traveled last week to the Democratic Republic of Congo (DRC) to meet with key stakeholders involved in the Kimberley Process (KP).   Fischler and Kaninda met with the chair of the Working Group on Artisanal and Alluvial Production (WGAAP), the Minis...Read More

Production of most pig iron and all steel products at ArcelorMittal Kryvyi Rih (AMKR) facility in Ukraine has been halted due to worker protests that began on Wednesday May 16. The protests were started by railroad department workers and spread to all other departments on May 16. Protesters have demanded an increase to monthly salaries to ?,?1,000 ($1,181) and to assurances that all rolling stock...Read More

RAPAPORT...Global consumer demand for diamond jewelry grew 2% to anall-time record of $82 billion in 2017 amid a strong US market and a recoveryin greater China, De Beers reported Thursday.US demand rose 4% to $43 billion for the year as the keymarket enjoyed a strong economy and robust consumer confidence, the miner said.The nation was the leading driver of global growth for the fourth consecutiv...Read More

While a series of shallow RC drill intercepts of nickel and cobalt have validated previously held views about the extensive supergene resource potential along the interpreted ultramafic stratigraphy (and 15km of strike) at Quicksilver - putting the company on a course to post a maiden resource for the project later this year - it is the early signs from bedrock contact in drill holes and electroma...Read More

RAPAPORT...Dominion Diamond Mines plans to lay off 150 employees at itsEkati mine in Canada's Northwest Territories, according to union officials. "The employer's intent is to replace these positions withcontracted workers by October 1, 2018, as a cost-cutting mechanism to increaseprofitability for the private owner," Todd Parsons, president of the Unionof Northern Workers (UNW), which represents...Read More

(IDEX Online) - The Israeli diamond industry will again be among the largest international exhibitors at the JCK Las Vegas show (June 1-4) the most important trade show in Israel's number one export market. The Israel Diamond Pavilion, organized by the Israel Diamond Institute (IDI), will feature 34 exhibitors.   This year, however, IDI is planning something new: the Israel Diamond Pavi...Read More

China's ferrous futures trended downward during morning trading on Thursday May 17 before minimizing their losses toward the end of the session, with the benchmark hot-rolled coil contract performing the best by closing higher than its opening price.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,680 yuan ($577) per tonne, down 4 yuan per tonne October hot-rolle...Read More

SHANGHAI, May 17 (SMM) –Copper: LME copper stood around the 40-day moving average overnight with strong upward momentum. Overnight, the SHFE 1807 contract touched the five-day moving average above, with resistance. We expect LME copper to trade at $6,830-6,880/mt and the SHFE 1807 contract at 50,900-51,400 yuan/mt during the day. As prices of futures rose, spot discounts are likely to stand...Read More