Lead's three-month price on the London Metal Exchange climbed over 1% during morning trading on Thursday February 28, with a continued draw on European supply prompting upward price action, while trade optimism supports buying despite disappointing Chinese PMI data.This week, more than 31,000 tonnes of lead has been booked for removal out of mostly LME-listed warehouses in Europe, while the metal'...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday February 28* Copper -$196.83 (-1,318.48 yuan) Aluminium -$342.9 (-2,296.97 yuan) Zinc -$139.37 (-933.57 yuan) Nickel -$35.86 (-240.24 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday February 28 that are worth another look.Hong Kong Exchanges and Clearing, owner of the London Metal Exchange, filed its 2018 earnings this week, reporting record LME volumes amid a 26% climb in profit after tax, while its forward-looking strategy earmarks asset diversification in its aim to become a global market leader.Th...Read More

Canada's mining sector is going through dramatic change, but the industry remains bullish on growth, KPMG International's latest Global Mining Risk Report finds.While recent merger and acquisition transactions have raised concerns about the future of Canada's mining sector, domestic firms remain optimistic about growth opportunities. Canadian stock exchanges are the global leader in mining financ...Read More

Turkish long steel export prices have continued to slip over the past week due to limited demand, sources said on Thursday February 28.Fastmarkets' weekly price assessment for rebar exports out of Turkey on Thursday was $470-480 per tonne fob on an actual weight basis, down from last week's $490-500 per tonne fob.The Turkish producers lowered their offers to...Read More

Steel billet import prices in Egypt have fallen again over the past seven days with demand remaining weak, sources told Fastmarkets on Thursday February 28.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $465-470 per tonne cfr on Thursday, down from $480-490 per tonne cfr last week.Billet producers in the CIS region...Read More

Export prices for steel billet from Iran narrowed downward over the week ended Wednesday February 27 amid negative sentiment in the global billet market, after declines in the prices for scrap and iron ore raw materials.Iranian billet offers slipped to $400 per tonne fob in the last week of February, compared with the price of $410-420 per tonne fob sought by suppliers in previous weeks.A 40,000-t...Read More

Fastmarkets' price book entry for Iranian export slab price showed an incorrect value on Wednesday February 27, which has now been amended.The correct price, as assessed on February 27, for Iranian exports slab price, was $360-390 per tonne fob.Fastmarkets' price book and database have been updated accordingly.To provide feedback on this price or if you would like to provide price information by b...Read More

China's hot-rolled coil exporters kept their prices steady on Thursday February 28 although trading has been thinner this week, amid slight movements in the domestic market.DomesticEastern China (Shanghai): 3,810-3,840 yuan ($570-574) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,740-3,760 yuan per tonne, widening downward by 10 yuan per tonneIn Shanghai, HRC was sold around 3,810-3,8...Read More

RAPAPORT... Dealers at the Hong Kong International Diamond, Gem & Pearl Show expressedconcerns about sluggish polished demand and an oversupply of goods in the wholesalesegment.Inventory moved slowly despite busy traffic at the fair, which began this week, people who attended the event toldRapaport News. "The mood looks OK, but conversion [to sales] still hasn'thappened," said Rahul...Read More

Slow start to Hong Kong show, but optimistic FarEast buyers are restocking inventory after Chinese New Year. Dealers hoping showwill stimulate better trading after sluggish Jan./Feb. Rough market cautious asprofit margins remain tight despite rough-price reductions at De Beers sight. Swiss lab SSEF launches GemTrack, linking polished torough colored stones. Michael Hill 1H sales -3% to $226M, prof...Read More

Sentiment weak as many dealers traveled to the HongKong show. Suppliers holding large volume of goods that are difficult to move.Steady demand for 1 ct., G-J, VS-I1 diamonds. 2 ct.+ slow.Manufacturers remain cautious as profitmargins continue to be squeezed and polished production remains relatively low. RoundRead More

Canada's mining sector is going through dramatic change, but the industry remains bullish on growth, KPMG International's latest Global Mining Risk Report finds.While recent merger and acquisition transactions have raised concerns about the future of Canada's mining sector, domestic firms remain optimistic about growth opportunities. Canadian stock exchanges are the global leader in mining financ...Read More

RAPAPORT... Macy's and J.C. Penney noted strong sales in their jewelry divisions in the fourth fiscal quarter, even as overall results disappointed.Macy's also said it would implement a new strategy to focus on the category, as well as other products that mattered most to its customers. "[We plan to] invest in areas where the company already has strong market share to drive disproportionate g...Read More

The Antwerp-based IGC Group, one of the oldest diamond companies in the world, was inducted into the ALROSA ALLIANCE. In a statement, IGC Group said that its membership in the ALROSA ALLIANCE opens the way "to become a long-term client of ALROSA, the world leader in rough diamond mining. "We are delighted to enter the ALROSA ALLIANCE and partner with one of the world's largest diamond suppliers....Read More

Signet Jewelers, the parent company of jewelry chain stores Kay, Jared and Zales has  offered eligible employees a Voluntary Transition Program (VTP), which "provides an opportunity for eligible team members to self-nominate and leave Signet with transition assistance." The company will be taking actions "to lower costs in real estate, merchandise and costs of goods, indirect spending, and r...Read More

RAPAPORT... Alrosa has unearthed a 98.8-carat, gem-quality diamondfrom its new Verkhne-Munskoye mine in Yakutia, it said Wednesday. The stone was retrieved from the Zapolyarnaya pipe, one offour kimberlites that are located at the site. It has a visible yellow shade, Alrosa noted. "This is the second major find since the launch of thedeposit last October," said Evgeny Agureev, director of the...Read More

World Diamond Council President Stephane Fischler addressed a special meeting of the United Nations' General Assembly's 73rd Session in New York regarding the role of diamonds in fueling conflict. Mr. Fischler spoke on behalf of the diamond and jewelry industries in the session entitled "From blood diamonds to peace diamonds: conflict prevention through the Kimberley Process," and specificall...Read More

Aim- and Botswana Stock Exchange-listed Botswana Diamonds on Thursday announced that the first phase of the intensification drilling programme at its Thorny River prospect, in South Africa, has been concluded. Eighteen holes have been drilled with 12 intersecting kimberlite, the company stated in a release, adding that a bulk sampling target of 1.5 km of kimberlite fissure intersection had be...Read More

RAPAPORT... The Rapaport Group has published a special report delvinginto the key issues around lab-grown diamonds.The supplement, "The Fight's Getting Real," contains highlights from the February 2019 issue of Rapaport Magazine, featuring an analysis of DeBeers' entry into the synthetics market, and a deep look at questions of pricingand marketing terminology.It also details how companies ar...Read More