(IDEX Online) - De Beers sold rough diamonds with a provisional value of $520 million, following confirmed sales of $564 million in the second sales cycle (Global Sightholder Sales and Auction Sales) of 2018. Bruce Cleaver, CEO, De Beers Group, said: "While the second quarter of the year is traditionally a seasonally slower period, we continued to see good rough diamond demand in the third...Read More
Total gold output for the quarter from all operations rose 13% year-on-year to 506,500 ounces, mined from 8.8 million tonnes of ore, up 2% on the year and in line with the mining plan. The miner is carrying out a pit cutback at Blagodatnoye.Read More
SHANGHAI, Apr 17 (SMM) – China’s investment in fixed assets, excluding rural households, stood at 10.08 trillion yuan in the first quarter of this year, up 7.5% year on year, according to latest data from the National Bureau of Statistics on Tuesday April 17. The growth was 0.4 percentage point slower than in the first two months of this year.Of the total, private investment in fixed a...Read More
VANCOUVER (miningweekly.com) – The TSX-quoted equity of project developer Star Diamond (formerly Shore Gold) closed in the black on Monday after a preliminary economic assessment (PEA) on its fully-owned Star-Orion South kimberlite projects reported strong metrics.The PEA reported an after-tax net present value on a conceptual 66-million-carat mine plan, at a 7% discount rate, of C$2-billion...Read More
Seaborne iron ore prices outperformed portside values on Tuesday April 17.Metal Bulletin 62% Fe Iron Ore Index: $64.51 per tonne cfr Qingdao, up by $0.58 per tonneMetal Bulletin 58% Fe Premium Index: $52.22 per tonne cfr Qingdao, up by $0.13 per tonneMetal Bulletin 65% Fe Iron Ore Index: $82 per tonne cfr Qingdao, up by $1 per tonneMetal Bulletin 62% Fe China Port Price Index: 458 yuan per wet ton...Read More
RAPAPORT... Polished manufacturer Rosy Blue has agreed to acquire aminority share in Leo Schachter, as the diamond suppliers seek to make theiroperations more efficient. The deal will enable the firms to use each other'sinfrastructure around the world, providing better value for their clients, LeoSchachter said in a statement Monday. Leo Schachter will still operateindependently under the Schachte...Read More
(IDEX Online) - The Diamond Dealers Club (DDC) held its annual Israel Diamond Week from April 10-12, welcoming Israel Diamond Exchange (IDE) members to its new premises for the first time. As in the past, members of both bourses exhibited their goods on the DDC trading floor, now located at 50 West 47th Street. "I believe this will be a successful year for both the US and Israel [ma...Read More
Prices for imported steel rebar in the United Arab Emirates and Saudi Arabia decreased this week, while billet import prices were stable, sources told Metal Bulletin on Tuesday April 17.Demand for imported rebar in both the UAE and Saudi Arabia remained weak, however.Domestic rebarThe major rebar producers in the UAE announced their current prices on March 26.The biggest steel producer, Emirates S...Read More
RAPAPORT... De Beers' April sight closed with a value of $520 millionamid concerns among manufacturers that higher rough prices could affect profitmargins.De Beers raised prices by 1% to 2% from the previous salefor larger size categories, sightholders told Rapaport News this week. Inaddition, De Beers adjusted the way it arranged stones into assortments that itsells, resulting in most of the boxe...Read More
(IDEX Online) - Sales of fine jewelry and fine watches rose by 7.2 percent in the U.S. market in February 2018, when compared to the same month a year ago, as the graph below illustrates. Sales were an estimated $6.6 billion, according to preliminary data from the U.S. Commerce Department, likely influenced by Valentine's Day purchases. Strong Start to 2018 Jewelry Sal...Read More
SHANGHAI, Apr 17 (SMM) – Trading in the imported copper concentrate market was thin during the week ended April 13 as smelters held back purchasing on the relatively low treatment charges (TCs).SMM assessed clean copper concentrate TCs at $70-76/mt as of Friday April 13, down $0.5/mt from a week ago.The copper concentrate market remains in a tight balance even though impact of strikes at ove...Read More
Volatile...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.S...Read More
Differing inventory levels in China's two major rebar markets led to prices in the eastern region edging up while those in the north weakened on Tuesday April 17.Domestic Eastern China (Shanghai): 3,650-3,710 yuan ($581-591) per tonne, widened upward by 10 yuan per tonne Northern China (Beijing): 3,620-3,670 yuan per tonne, down 10-20 yuan per tonne In Shanghai's spot market, rebar inventory level...Read More
LME price has raced to a...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it...Read More
SHANGHAI, Apr 17 (SMM) – Spot copper in the Shanghai market was offered at a premium of 190-250 yuan/mt over the SHFE 1805 contract on Tuesday April 17, SMM learned. This compared with a premium of 40-100 yuan/mt over the 1804 contract the previous day.Spot premiums are unlikely to stay at high levels in the short term as sellers were keen to destock while buyers mostly purchased as needed d...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 were virtually unchanged following release of the March Housing Start report at 8:30 AM EDT. Consensus was 1.27 million units versus 1.236 million in February. Actual was 1.32 million units.Johnson & Johnson gained $1.04 to $132.80 after reporting higher than consensus...Read More
Metal Bulletin proposes to increase the frequency of the CIS export steel billet index, fob Black Sea ports, assessment from weekly to daily.Metal Bulletin proposes to change the frequency of the CIS export steel billet index assessment to daily.Metal Bulletin has put this proposal to the market in response to sufficient liquidity being observed to adjust the weekly price to a daily calculation. T...Read More
Development rates at Carrapateena surpassed expectations for the sixth consecutive month, reaching 5.5km in total."It's encouraging to see the rate of development of the decline gain momentum," OZ managing director and CEO Andrew Cole told investors on a teleconference.Around 60% of the project capital costs have been spent or committed.The company announced that Downer EDI had been awarded the $6...Read More
The accelerating adoption of electric vehicles and energy storage technologies has been attracting new investors into the mining industry as demand for battery materials spike.The latest investment vehicle to capitalize on the trend was launched by New York-based Global X Funds this week connecting the likes of BHP and Rio Tinto to names most associated with the sector such as Tesla and Google.The...Read More