China's major mills raised their crude steel output rates in late December and made more deliveries to the marketplace, which led to a drop in their finished steel inventories and weighed on spot prices. Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 1.7817 million tonnes per day during the last 11 days of December, up 63,600 tonnes...Read More

Russian producers have significantly increased their prices for hot- and cold-rolled steel sheet from January production for domestic buyers, amid favorable export market sentiment.Buyers also expect that this week mills will increase their prices again, when they start offering February-rolled material."I suppose we will see another 4-5% price increase soon, because mills say that they are export...Read More

Exporters of CIS-origin hot-rolled coil (HRC) and cold-rolled coil (CRC) increased their prices after the new year holiday period amid short-term price growth for material of Chinese origin."Producers increased their prices a lot at the wrong time, when consumers are not ready to accept them because Chinese prices are going down again," a trader told Metal Bulletin on Monday January 15.Metal Bulle...Read More

Base metals prices on the London Metal Exchange continued their strong performance during Monday January 15 and closed in positive territory across the board. Prices were supported by a weakening dollar which fell to its lowest in nearly three years; copper was one of the best performers closing over $100 higher than Friday. "The supportive macro backdrop (weak dollar, positive macro data) should...Read More

The increases in demand for lithium battery compounds since the end of 2015 have caused a structural change in the global lithium market, making it necessary to have new reference prices with increased granularity. Industrial Minerals has therefore launched new spot price assessments for lithium carbonate and hydroxide monohydrate to keep track of the growing price volatility within the Chinese sp...Read More

The latest metal markets news and price moves to start the North American day on Friday January 15.Base metal prices on the London Metal Exchange were all higher during morning trading, reflecting a further weakening in the dollar. Zinc's continues to set fresh multi-year highs - it peaked at $3,440 per tonne this morning, its highest since August 2007.Available LME zinc stocks continue to fall -...Read More

Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Monday January 15.Base metals prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Monday after consolidation set in following last week's gains, with only aluminium and nickel prices moving higher so far in the morning.Check Metal Bulletin's live futur...Read More

RAPAPORT... Birks Group's November and December sales declined 4% due toongoing renovations at two flagship stores and weak consumer sentiment in Canada, the jeweler reported Friday. The Montreal-based company noted comparable store sales grew 2% during the period, reflecting growth in locations that were open for more than a year and thus discounting the impact of the stores undergoing renovation...Read More

RAPAPORT... The Israel Diamond Exchange (IDE) plans to reveal two newcryptocurrencies createdspecifically for the diamond industry by startup CARATS.IO, the exchange said Monday.CARATS.IO will host a seminar during the International Diamond Week in Israel (IDWI), taking place February 5 to 7, to introduce the new cryptocurrencies and explainhow they can benefit the trade. "By cooperating with this...Read More

(IDEX Online) - Gem Diamonds Limited has recovered an exceptional quality 910 carat, D color Type IIa diamond from the Let??eng mine in Lesotho which is believed to be the fifth largest gem quality diamond ever found.   The mining company said in a statement that it is the largest diamond recovered from the Let??eng mine in the landlocked country.   The Let??eng mine has a reputation for...Read More

JOHANNESBURG (miningweekly.com) – Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has to managing its assets.Reflecting on the decision of Glencore to pull metal from the market during the crisis of 2015/16, Bernstein analysts Paul Gait, Jonathan Abs...Read More

APAPORT... Botswana's Okavango Diamond Company (ODC) reported that rough sales rose 4% in 2017, boosted by higher prices achieved at its auctions. Sales totaled $567 million for the year, compared to $546 million in 2016, the state-owned company said. It sold 3.417 million carats across 10 auctions held during the year, with its average price up 4% to $166 per carat."Overall, 2017 was a solid trad...Read More

(IDEX Online) - The Israel Diamond Exchange (IDE) will unveil new diamond-based cryptocurrencies created by startup CARATS.IO during the February 5-7 International Diamond Week in Israel (IDWI).   CARATS.IO will host a seminar introducing its new diamond-backed financial instruments to explain the benefits to the diamond industry, the IDE said.   According to Founder and CEO Avishai Sho...Read More

HARARE – Zimbabwe’s state diamond company is expected to produce at least 3 million carats this year, up 65 percent from 1.8 million in 2017, the mines minister told parliament on Monday.Winston Chitando said the Zimbabwe Consolidated Diamond Company, which was formed in 2016 when the government banned private companies from operating in the Marange diamond fields, will start selling g...Read More

(IDEX Online) - The election results for the Chairmanship and Vice Chairmanship of GJEPC was announced today. Pramod Kumar Agarwal has been elected as the Chairman and Colin Shah has been elected as the Vice Chairman of GJEPC for the period of 2018 to 2020.   Thanking the industry and GJPEC members for electing him, the new GJEPC Chairman said, "It is my proud privilege to be nominated and el...Read More

RAPAPORT... Sarine Technologies will open its first technology lab inIsrael in February, offering advanced, automated gem services, the company said Sunday.The lab will supplyservices using Sarine's automated technology for clarity and colorgrading of polished diamonds, as well as authentication for simulant, natural,synthetic and treated stones. The information will all be integrated into theSari...Read More

(IDEX Online) - Sarine Technologies Ltd has announced the opening of the Sarine Technology Laboratory, the first in the company's network of advanced, automated gemological labs.   The Sarine Technology Lab will initially offer services in Ramat Gan, Israel, commencing in February. Services will include automated, accurate, consistent, and objective grading of a polished diamond's C...Read More

RAPAPORT... Alrosa has agreed to buy an additional 8.2%stake in the Catoca Mine in Angola for $70 million, the Russian miner said Friday.Angolan President Jo??o Louren??o approved a redistribution of 16.4% of the enterprise's holdings, which were split equally between Alrosa and Angola's state mining company Endiama.The deal is expected to close before the end of March, after which Alrosa and...Read More

RAPAPORT... Gem Diamonds has recovered a 910-carat diamond from its Let??eng mine in Lesotho, claiming it's the fifth-largest rough ever found. "This is a landmark recovery for all of Gem Diamonds' stakeholders, including our employees, shareholders and the government of Lesotho, our partner in the Let??eng mine," said Gem Diamonds CEO Clifford Elphick. The D-color, type IIadiamond is th...Read More

RAPAPORT... Stornoway Diamond Corporation ended 2017 with lower than expected production and sales, as tough market conditions and operating glitches at the Renard mine marred its first year of operations.   The company recovered 1.64 million carats of diamonds in 2017, compared to 1.69 million initially planned for the year. It garnered sales of $149.5 million (CAD 186.2million) at an a...Read More