(IDEX Online) - The offices of diamond scanning firm Diyora & Bhanderi Corporation (DBC) have been raided by the tax authorities in India.Fifty officers scaled the walls to two premises in Surat last Thursday and Friday after they were denied entry, according to local media reports.The company, which describes itself on its Facebook page as "the world's largest diamond scanning facility"...Read More

(IDEX Online) - De Beers is poised to report the highest sales from a sight in three years, as the diamond industry enjoys a global boom.It could net as much as $600m, well-placed sources have told the Bloomberg news website, despite reportedly increasing prices of larger (+1-ct) stones by five per cent at the first Sight of 2020, which ended last week.For context, the UK-based miner sold rough wo...Read More

(IDEX Online) - Sales of watches and jewelry in the US enjoyed a sixth consecutive month of increase in November 2020, according to new Department of Commerce figures. They were up 16.6 per cent year-on-year, largely in line with the previous two months, once we take account of the revision downwards of the October figure (from 18.6 per cent to 15.9 per cent based on actual rather than forecast sa...Read More

Japan's Sumitomo has written down a loss of 30 billion yen ($289 million) at its Ambatovy nickel-cobalt asset in Madagascar, in addition to the separate 55 billion yen ($530 million) impairment announced in the middle of last year, according to a company statement dated January 25, 2021.This was the latest in a series of difficult events for Ambatovy, which has been out of the market since March 2...Read More

Tin's forward price reached a new year-to-date high on the London Metal Exchange on Monday January 25, while other prices were mixed despite a slight rise in the United States dollar index throughout the day. The metal's three-month price traded at a new 2021 intraday high of $22,600 per tonne, surpassing the previous high of $22,375 per tonne set just last week. It is also the highest intraday pr...Read More

Lead recycler Aqua Metals has partnered with German chemical company BASF to supply electrolyte, cooperate commercially, and explore technical improvements to enhance the performance of the US company's lead recycling technology, AquaRefining.BASF will offer AquaRefining to its existing and prospective battery recycling clients, and Aqua Metals will incorporate BASF product into every initial depl...Read More

Chinese copper importers have continued to favor top quality copper scrap this month to avoid the rejection risk under a new import policy of birch/cliff cargoes, which are traditionally more popular in the country, market sources said."We prefer buying No 1 recyclable copper material because it does not encounter any problems for custom clearance," a Ningbo-based copper importer told Fastmarkets....Read More

The price range for secondary aluminium ingot across Europe declined by just over 2% at the midpoint on Friday January 22, the downturn coming after market participants reported a dip in purchasing appetite from Asian buyers ahead of China's Lunar New Year holiday next month.Fastmarkets' assessment of the aluminium pressure diecasting ingot DIN226/A380, delivered Europe, fell to ?,?1,940-2,000 ($2...Read More

Trident aims to fill valuable nicheSPONSOREDtrident royalties"Remarkably the average global activity levels for 2020 were higher than 2019, driven almost entirely by the explosive recovery in China from the first quarter of this year," Marex Spectron's global head of analytics Dr Guy Wolf said.The observations from SAVANT, which monitors up to 90% of the world's copper smelting capacity, indicated...Read More

Neo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesOceanaGold marks three decades of gold standard mining SPONSOREDoceanagoldThe subsidiary of Antofagasta Minerals submitted a mine plan of operations to the US Bureau of Land Management and Minn...Read More

Export prices for hot-rolled coil from the Commonwealth of Independent States (CIS) continued to decrease during the week to Monday January 25, while heavy plate prices increased, sources told Fastmarkets.Fastmarkets' weekly price assessment of steel hot-rolled coil, export, fob Black Sea, CIS was $745-760 per tonne on Monday, down by $20 from $765-780 per tonne a week earlier.In Turkey, which is...Read More

Export rebar and wire rod prices from the Commonwealth of Independent States (CIS) decreased in the week to Monday January 25 amid increased competition with Turkish and Chinese suppliers, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey was $620-630 per tonne on Thursday January 21, down from $650-660 per tonne fob a week earli...Read More

Trading activity in the European market for hot-rolled coil was slow during the week to Monday January 25, with buyers avoiding making new deals due to an expected price fall, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?710.00 ($864.08) per tonne on Monday January 25, down by ?,?1.25 per tonne from ?,?711.25 per tonne o...Read More

Liberty Steel Group has completed "due diligence" on Thyssenkrupp Steel Europe and submitted a "firmed up" bid for its acquisition based on the results, the UK-based steel company told Fastmarkets on Monday January 25."On Monday January 25, 2021, Liberty Steel submitted a firmed-up bid for Thyssenkrupp Steel Europe based on the results of the comprehensive due diligence process including multiple...Read More

The domestic rebar market in Russia's Central Federal District around Moscow declined slightly the week to Monday January 25 amid slow market activity due to seasonal factors and the possibility of an export duty, several sources told Fastmarkets. Construction activity in Russia, the main market for rebar, typically slows in late autumn and early winter due to poor weather conditions and does not...Read More

(Updates prices) LONDON, Jan 25 (Reuters) - Tin rose to its highest since2014 on Monday after a shortfall of the metal used in solder toconnect components in electronic devices pushed up prices for 12straight weeks.The premium on the London Metal Exchange (LME) for tin thatcan be quickly delivered has ballooned as stockpiles in theexchange's warehouse system near record lows. Benchmark LME tin was...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer on Monday January 25, after having dipped on Friday – optimism over US President Joe Biden’s $1.9 trillion fiscal stimulus plan was outstripping the worrying news about the new Covid-19 cases in China.Asian-Pacific equities and major western pre-market equity index futures were str...Read More

Turkish steel producers continued to hold back from deep-sea scrap purchases at the start of this week amid limited demand for rebar and billet, market participants said on Monday January 25.The mills in Turkey have been absent in the deep-sea markets since last week. The most recent transaction was heard on Wednesday January 20 at $440 per tonne cfr on HMS 1&2 (80:20) basis.That transaction pushe...Read More

JD.com (JD), a NASDAQ 100 stock moved above $96.20 to an all-time high extending an intermediate uptrend. Nike (NKE), a Dow Jones Industrial Average stock moved below $138.32 completing a double top pattern. Incyte (INCY), a NASDAQ 100 stock moved above $98.47 extending an intermediate uptrend.CSX (CSX), a NASDAQ 100 stock moved below support at $87.39.Electronic Arts (EA), a NASDAQ 100 stock move...Read More

Turkish domestic scrap prices have fallen sharply over the past week, following the downward trend seen in the deep-sea scrap import markets, sources said on Monday January 25.Steelmakers in Turkey held back from purchasing deep-sea scrap late last week, due to poor sales of finished long steel and billet.The most recent deep-sea transaction was heard on Wednesday January 20 at $440 per tonne cfr...Read More