The price for cold-rolled coil firmed up in the United States over the past past week due to steady demand, while the base and all-in prices for coated steel were steady compared with the previous week, market participants said.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil moved to $42 per hundredweight ($840 per short ton) on Thursday March 28, up by 50 cents from $41.50...Read More
The prices for US imports of steel beams has risen on confirmed sales of Mexican material while the price for domestic beams remained stable, Fastmarkets AMM has learned.Fastmarkets' assessment for imported beams is now $790-810 per short ton ($39.50-40.50 per hundredweight) delivered duty paid Port of Houston as of Thursday March 28, up 3.9 % from $740-800 per ton ($37-40 per cwt) previously. At...Read More
Ukraine's largest long steel producer, ArcelorMittal Kryvyi Rih, is currently holding cold tests of its two new continuous casting machines - also known as CCM No2 and CCM No3 - which have combined annual capacity of 2.8 million tonnes, the company told Fastmarkets on Friday March 29.The move is aimed at strengthening the steelmaker's position in the billet export market and enabling ArcelorMittal...Read More
CIS billet prices started to decline in the last week of March, with the market under pressure from lower customers' bids, falling scrap prices in Turkey, and growing competition from Turkish billet suppliers because of the lira weakening against the US dollar.Indications of offers were coming within the range of $450-460 per tonne fob Black Sea, Fastmarkets heard on Friday March 29. A Ukraine-bas...Read More
Export prices for steel slab products of Brazilian origin remained unchanged in the week ended Friday March 29, on a flat steel market in the United States and weak demand in Europe.Fastmarkets' weekly assessment of Brazilian slab export prices was $510-550 per tonne fob on Friday, stable week-on-week.Bookings were reported from Brazil to the US market at prices of at least $540 per tonne fob, sou...Read More
Indian domestic secondary steel billet prices have fallen by about 100 rupees ($1) per tonne this week because there have been fewer inquiries and minimal buying by makers of finished products such as rebar mills, Fastmarkets heard on Friday March 29.Indian domestic secondary billet prices were assessed by Fastmarkets at 31,200-31,400 rupees ($450-453) per tonne ex-mill on Friday, down by 100 rupe...Read More
More than three years after two treasure hunters claimed to have found a Nazi train laden with gold and gems in the Polish city of Walbrzych, one of the men looking for it has unearthed another kind of treasure: two dozen priceless Renaissance portraits.Piotr Koper, who spent years hunting for the elusive train rumoured to be laden with gold and gems, has found two dozen priceless Renaissance p...Read More
Indian importers have rejected the latest offer prices for imports of hot-rolled coil (HRC), citing falling prices for the commodity in the domestic market, Fastmarkets heard on Friday March 29.Indian HRC import prices were assessed by Fastmarkets at $575-580 per tonne cfr Indian ports on March 29, compared with last week's assessment of $560-565 per tonne cfr, an increase of $15 per tonne.The lat...Read More
Shares in Petra Diamonds (LON:PDL) jumped more than 8% on Friday after the miner announced it had dug up a 425.1 carat, D-colour, Type II gem quality diamond at its iconic Cullinan mine in South Africa.The discovery comes less than a month after Petra found a 100.83 carat gem-quality white diamond at the same mine, source of the world's biggest-ever diamond, which was unearthed in 1905.Earlier in...Read More
The South American flat steel import market remained uneventful during the past week, as participants in Brazil, the largest country in the region, kept away from spot deals, and prices from China, the most active seller, were still significantly higher than those locally.Fastmarkets' assessment for hot-rolled coil prices in South America was at $565-575 per tonne cfr on March 29, the same le...Read More
The Accredited Gemologists Association announced the presenters of its AGA Las Vegas Conference that will take place on Friday, May 31, 2019 at the Westin Las Vegas. A regular at AGA conferences, GIA's Shane McClure will be talking about "Detecting Heat Treatment Levels in Corundum." McClure, a recipient of the Antonio C. Bonanno Award for Excellence in Gemology (2007), will tel...Read More
Firestone Diamonds announced its interim results of its Liqhobong mine for the six months ended 31 December 2018. The company recovered 465, 680 carats, among which was the mine's largest diamond found to date, a 326-carat light yellow makeable stone. The aerage value per carat realized was $71, somewhat lower than in the parallel period in 2018. The lower price per carat is the result...Read More
London-listed Petra Diamonds has recovered a 425.10 ct D-colour Type II gem-quality diamond at its Cullinan mine, in South Africa."The recovery further demonstrates the prevalence of these types of stones in the Cullinan orebody, as well as the ability of the mine's plant to recover the full spectrum of diamonds," the company said in a statement on Friday.AdvertisementIt expects the...Read More
In an interview with Mining Review Africa. Bruce Cleaver, CEO of De Beers Group, reiterated the company's focus on its African portfolio. "Mining in Africa is at the core of our business, just as it always has been, and just as it will be in future. While Venetia is currently our only mine in South Africa, it is one of the world's only Tier 1 assets. With our US$2 billion investment t...Read More
Baselworld closed its doors on Wednesday, March 26. Michel Loris-Melikoff, Managing Director of Baselworld, concluded the show's closing press conference saying: "Baselworld 2019 is now history, and we look forward to 2020." Noting that 2019 was a year of transition for Baselworld, Melikoff reported that 520 brands had exhibited at Baselworld 2019. This year's show was attended by 81,...Read More
On March 5th, exactly 11 years to the day that De Beers Canada took control of operations at Victor Mine, the final haul truck brought the last load of ore from the pit to mark the end of mining activities at Ontario's first and only diamond mine. The honour of driving the last truck went to Nancy Wesley, of Kashechewan First Nation. She worked at Victor for 11 years, as a haul truck driver, dozer...Read More
The low price environment in which the Renard diamond mine began its operations two years ago is continuing to affect the company operating the Quebec-based mine, with Stornoway Diamonds ending 2018 in the red.The listed diamond miner on Thursday reported a net loss of C$329.4-million, or C$0.39 a share, on lower revenue of C$165.5-million. This compares with a net loss of C$144.22-million in 2017...Read More
Fastmarkets proposes to use its 65% Fe Brazilian Fines Index, cfr Qingdao (MBIOI-65-BZ) as the base price for its Direct Reduced (DR)-grade Iron Ore Pellet Premium Middle East reference. Currently, Fastmarkets' 62% Fe Fines Index, cfr Qingdao (MBIOI-62) is used as the base price. The proposed move follows a shift in the market to 65% Fe fines as the base price for some pellet contracts....Read More
Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsThe company aims to leverage the "structural investments" it is making via the New Mine Level project that will start operation in 2023 to ensure the mine has decades more life while maintaining current production levels. A new round of investments is being studied to both increase production...Read More
Turkish steel mills continued to remain out of the deep-sea scrap market at the end of the week due to the uncertain political situation in the country, sources said on Friday March 29.The Turkish lira was still very volatile against the US dollar because of the political instability and Turkish steel producers preferred to wait for the results of Sunday's mayoral elections before m...Read More