A potential ban on Chinese steel imports by Taiwan could disrupt trade flows in Asia, with the stainless steel segment set to be hardest hit, market sources told Metal Bulletin this week."The ban is necessary so that Taiwan can start negotiations with the United States to be exempted from the [country's] Section 232 tariffs [on steel and aluminium imports]," a Taiwanese trader said.Several industr...Read More
SHANGHAI, Apr 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar edged down 0.3% to 89.83 overnigh as euro climbed up. Most base metals rose. SHFE nickel rose close to 2%, aluminium increased over 1%, copper gained 0.7%, and zinc and tin inched up. SHFE and LME lead edged down. LME zinc dropped close to 1%, while coppe...Read More
RAPAPORT... Belgium's polished-diamond exports dropped in March,according to data from the Antwerp World Diamond Centre (AWDC). Polished exports decreased 7% year on year to $1.09 billionand, by volume, fell 13% to 423,764 carats. The average price grew 7% to $2,570per carat. Polished shipments to Switzerland - which hosted the Baselworld show thatmonth - slid 36% to $270.6 million, and exports to...Read More
Brokers SVS Securities and Novum Securities arranged the placement of 28.6 million ordinary Kibo shares at a price of £0.0525 per share.Kibo's shares were trading at £0.0545 per share Tuesday, down 12.1% from the previous close.The company needed to bolster its balance sheet ahead of the further work at its 97.5%-owned Mbeya coal to power project in Tanzania, with the power purchase ag...Read More
JOHANNESBURG (miningweekly.com) – A Vision 2030 for the mining industry, and a strategy for growth and competitiveness of the sector, are topics under development, the Department of Mineral Resources (DMR) said on Tuesday, when efforts to finalise and gazette the Mining Charter also intensified.In announcing that Mineral Resources Minister Gwede Mantashe had on Tuesday led the second meeting...Read More
SHANGHAI, Apr 10 (SMM) –Copper: With upward room and firm support, LME copper broke the 20-day moving average while SHFE copper traded rangebound between the five- and 20- day moving averages. We see upbeat momentum in copper prices in the mid and long term but see pressure in the short term given high global inventories. We expect LME copper to trade at $6,800-6,850/mt today...Read More
China has requested consultations with the United States at the World Trade Organization (WTO) regarding tariffs on China-origin steel and aluminium goods, the WTO said on Tuesday April 10.China made the request after the US government imposed a 25% import duty on certain steel products and a 10% import duty on aluminium products from March 23, with further possible adjustments to additional impor...Read More
RAPAPORT... LVMH Mo?<
Carman said the non-brokered private placement brought in "several Peruvian investors to the Tinka shareholder register for the first time", while he noted Sentient Equity Partners now owned about 24.7% of the company (23.9% on a fully diluted basis).The first-tranche shares were issued at 48c. Tinka was trading at 47c overnight, capitalising the company at C$105.65 million."During 2018 we are pla...Read More
JOHANNESBURG (miningweekly.com) – Russian diamond miner Alrosa sold $559.5-million worth of rough and polished diamonds in March, an increase on February’s sales of $541.9-million, despite a slight seasonal cooling off in demand during the month.Deputy CEO Yury Okoemov said in a statement that auctions of diamonds larger than 10.8 ct had resulted in the higher month-on-month performanc...Read More
RAPAPORT... Mountain Province will move forward with its acquisition ofKennady Diamonds, after both parties' shareholders approved the deal at aspecial meeting.In January, Mountain Province announced its intention torepurchase the Kennady exploration project in Canada after a five-year separation."The Kennady acquisition notably strengthens MountainProvince's asset base," Mountain Province CEO Dav...Read More
Strategic will hand over 41.6 million shares worth a total value of A$1.45 million (US$1.12 million) to Resilience for the mine. Read More
Developments in Syria are explosive. The FBI raid on Trump's lawyer's office reflects political instability in the USA. These factors can result in a quick rise for gold and decline of the greenback. The US-China trade war can subside in the short term but long term damage has been done to American credibility as a trading partner. Nations will find new ways and means to defriend the USA in way...Read More
LONDON – Petra Diamonds said on Tuesday that it has finalised an agreement with its lenders for a waiver of its December 2017 debt covenant and a resetting of debt agreements for this year.The London-listed miner started talks with its banks earlier this year after the confiscation of a consignment of its diamonds by Tanzania and a labour strike at its South African mines put it at risk of f...Read More
RAPAPORT...Zimbabwe's state diamond company is planning to introducecontract sales as part of a strategy to revive operations and bring greatertransparency at the controversial Marange fields. The Zimbabwe Consolidated Diamond Company (ZCDC) resumedits tender sales in the first quarter of this year after suspending trading fornine months to get its house in order. While periodic tenders are...Read More
Fragile,...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
Several senior government officials have reportedly been summoned by Zimbabwe's parliamentary portfolio committee on mines and energy over the missing $15-billion diamond revenue.According to reports, former President Robert Mugabe, announced in 2015 that $15-billion of diamonds were spirited out of Marange, the dusty fields more than four hours' drive from the capital Harare which were th...Read More
RAPAPORT... Titan Company expects to reap the benefits of increasedregulation in the Indian jewelry market, the retailer said after reporting ajump in quarterly sales. Stricter credit conditions and a crackdown on illegalbehavior - which have come under focus since the Nirav Modi fraud scandalemerged in January - will help jewelers that have better structures in place,it said. The nation's goods a...Read More
Mexican car production fell by 10.90% year-on-year in March, according to figures released by national automotive association, Amia, on Monday April 9.The country produced 331,109 vehicles last month, compared with 371,447 vehicles in the same month a year earlier.The reduction was mainly due to the lower number of working days in March 2018, which also affected domestic sales, Amia...Read More
Price initially fell as Trump considered...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...Read More