The Turkish deep-sea scrap import market had another quiet day on Thursday March 22, with the country's steel mills absent from trading for a second week, sources said.There has been no significant trading since the mills in the Middle Eastern country stepped back from the deep-sea scrap markets on March 9, when the United States applied a 25% duty on imports of steel products following its Sectio...Read More
The Pyrenees-focused developer Apollo is working on reopening the Salau tungsten mine and exploiting the gold deposits within and around the old underground workings.Read More
The physical iron ore market did not see too much activity on Thursday March 22 despite more blast furnaces in north China being allowed to return to production.Key driversSteelmakers in north China's steelmaking hub of Tangshan can now operate according to their off-peak production plans now that the winter heating season is over, subject to them meeting their prescribed emissions standards, acco...Read More
Market quiet after positive first quarter. Indian manufacturersfacing liquidity squeeze as banks tighten credit after $2B Nirav Modi-Gitanjalifraud. Dealers still optimistic, with good US and China orders. Largeindependent jewelers doing better than majors as Signet and Tiffany announceturnaround strategies. Tiffany 4Q sales +9% to $1.3B, disappointing profit -61%to $62M. Smaller and shorter Basel...Read More
(IDEX Online) - De Beers has announced that its Forevermark diamond brand will enter the German market after signing with an exclusive licensee partner, and is also in advanced-stage discussions with potential partners in France and Italy. The expansion into new European markets comes on the back of a successful global performance throughout 2017 and in 2018 to date, the company said. &nbs...Read More
SHANGHAI, Mar 22 (SMM)? 1/4 ?Spot copper in the Shanghai market was offered at a discount of 190-140 yuan/mt on the morning of Thursday March 22, SMM learned.This compared with discounts of 210-160 yuan/mt on the morning of Wednesday March 21. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service...Read More
The sale comes hot on the heels of another agreement earlier this week for Glencore (LN:GLEN) to acquire Rio's Hail Creek and Valeria assets, also in Queensland, for $1.7 billion.Rio CEO Jean-Sebastian Jacques said the agreement was "the best option for the future development of the project while delivering attractive value for Rio Tinto as we continue to streamline our portfolio".The deal is...Read More
A multipronged approach involving both the mining industry and government is required to better deal with illegal mining in South Africa, where bloody skirmishes pitting rival gangs profiting from this illicit pursuit and the illegal mineworkers themselves are a frequent occurrence, with police officers and security guards sometimes caught in the crossfire when they try to intervene.Fatalities als...Read More
Turkish billet prices have weakened in line with poor export demand for the country's finished long steel products and falling steel prices in China, sources said on Thursday March 22.Suppliers in the CIS region have reduced their billet offers to Turkey by around $5-10 per tonne to $560-565 per tonne cfr, but Turkish mills were showing no interest in such prices yet.Metal Bulletin's weekly price....Read More
(IDEX Online) - One of the highlights of the upcoming 4th Mediterranean Gemmological and Jewellery Conference (MGCJ), to be held May 18-20, in Budva, Montenegro, will be the introduction of an affordable synthetic diamond identification kit and other portable instruments that will enable users to help identify loose and mounted melee-sized synthetic diamonds, as well as larger stones. MGCJ...Read More
The discovery dates of 2017's 10 largest copper-producing mines show exploration has slowed and more investment is needed to keep up with global demand for the red metal.Read More
SHANGHAI, Mar 22 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar dropped below 90 at one point and then hovered around 89.7 as the Federal Reserve anticipated hiking interest rates three times in 2018, below market expectations of four hikes. Nonferrous metals rose due to the weak US dollar and higher oil prices....Read More
JOHANNESBURG (miningweekly.com) – Global diamond miner De Beers is expanding its Forevermark in key European countries, with the brand entering the German market and potentially also France and Italy.The Anglo American subsidiary is aiming to bolster the diamond brand’s visibility in key European countries, which attract a flow of international travellers from large diamond consumer ma...Read More
Domestic prices for rebar and import prices for steel billet in Egypt both increased this week even though demand has started to fall, Metal Bulletin has heard.Beshay Steel was offering rebar at E ?12,996 ($736) per tonne ex-works on Saturday March 17, and the country's biggest producer, Ezz Steel, has been offering rebar at E ?12,790 per tonne ex-works since March 14, including 14% VAT.Metal Bull...Read More
RAPAPORT... Forevermark ismaking a play for the European market, after achieving significant retail growth last year. The De Beers brand has signed an exclusive licensing deal with German jeweler Heinz Mayer to sell products in thekey nation, it said Thursday. The Idar-Oberstein-based diamond specialist willpresent the collection at the Baselworld show, which runs until Tuesday. Forever...Read More
(IDEX Online) - The ALROSA Group is launching its first national commercial device for the identification of natural and synthetic polished diamonds - the ALROSA Diamond Inspector. "The company expects that its relatively low price and high accuracy will allow the detector to be in demand both in Russia and abroad. It will help fight unscrupulous suppliers who mix synthetic stones grown in...Read More
Ascendant acquired the 70-year-old zinc, silver and lead mine in December 2016 and embarked on a turnaround programme, increasing milled production 81% and decreasing direct operating costs by 31% during 2017. The turnaround was in step with a rising zinc price throughout 2017 that went on to reach a 10.5-year high earlier this year but has since eased about US$300 a tonne to around $3,...Read More
SHANGHAI, Mar 22 (SMM) –Copper: LME copper rebounded from the $6,700/mt level overnight as long positions entered the market. Copper prices are expected to rebound if China's economic data remain strong and the global bearish sentiment eases. We see LME copper trading at $6,800-6,860/mt today, with the SHFE 1805 contract trading at 51,000-51,600 yuan/mt. Spot discounts are seen smaller a...Read More
JOHANNESBURG (miningweekly.com) – TSX-listed diamond miner Lucara has announced that incoming Lucara CFO and corporate secretary Zara Boldt will join the management team as the company focuses on increasing the value of its core diamond mining business at Karowe, Botswana, and on supporting the development of Clara, the company’s new secure, digital diamond sales platform, said Lucara...Read More