The seaborne iron ore market received a boost on Monday January 8 froma strong futures market. Key drivers China's Ministry of Industry & Information Technology (MIIT) announced on Monday that no new capacity will be allowed in the steel, cement and flat glass industries, and issued specific requirements for steel mills replacing old with new capacities. The announcement s...Read More
- Gold currently undervalued- Since 2000, the gold price has beaten the S&P 500 Index- A 'a once-in-a-decade opportunity' as gold-to-S&P 500 ratio is at its lowest point in 10 years.- Reached 'peak gold' as exploration budgets continue to tighten- $80 trillion sits in global equities, a 'ticking time bomb'- Gold remains an appealing diversifier in the current environment of high valuations and...Read More
China's ferrous futures prices turned around to surge late in the afternoon on Monday, January 8 after the country's officials declared stricter steel capacity replacement criteria to be implemented from this year.The production facilities that will be allowed to have capacity replaced will only include those recorded in capacity replacement plans approved by local or central governments...Read More
Codelco's Ventanas smelter in Chile achieved record-high copper cathode production in 2017 despite stricter environmental regulations and a more complex global scenario for smelters, the company said on Monday January 8.Ventanas' cathode production reached record levels for the fourth consecutive year. Output totaled 410,024 tonnes in 2017, up by 2,700 tonnes...Read More
Aluminium was the only metal that ended lower at the end of trading on the London Metal Exchange on Monday January 8.The three-month aluminium price ended around 1.2% lower than its pre-weekend closing level at $2,175 per tonne.Around 14,000 lots changed hands by the 5pm close, outpacing copper by about 2,000 lots.Stocks fell a net 3,600 tonnes to 1,095,875 tonnes. Although on-warrant aluminium st...Read More
NFEx Markets' chief operating officer and its most senior director, Mark Bradley, has resigned from the board alongside non-executive director Jim Coupland, filings on the UK's Companies House show on Monday January 8.The over-the-counter base metals trading platform is due to start trading in the coming months.Bradley and Coupland will remain advisers to NFEx alongside former London Metal Exchang...Read More
Turkish steel mills returned to the deep-sea scrap markets willing to pay higher prices on Monday January 8.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $368.20 per tonne cfr, up by $6.58 per tonne.The daily index for US-origin scrap closed at $378.85 per tonne cfr. Up by $9.34 per tonne, putting the premium for US material...Read More
The latest metal markets news and price moves to start the North American day on Monday January 8.Lead and zinc began the week slightly higher while the rest of the base metals on the London Metal Exchange came under pressure this morning. Zinc was Monday morning's best performer, up $13 to $3,365 per tonne. Aluminium, meanwhile, continued to slip marginally lower, down $12 to $2,193.50 per tonne....Read More
Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Monday January 8.Base metals prices on the Shanghai Futures Exchange were weaker across the board during Asian morning trading on Monday, with the complex coming under pressure from news that researchers at China's central bank have agreed that the time may be right to raise interest rates...Read More
RAPAPORT PRESS RELEASE, January 8, 2018, Las Vegas... RapNet, theworld's leading diamond trading network, will launch a new, upgraded platformtomorrow, January 9, 2018. The upgrade will provide members with a moresecure, intuitive and smarter trading environment. It is the first step in a $5million Rapaport and RapNet development project that will revolutionize theelectronic market for diamonds.&n...Read More
RAPAPORT... Gem Diamonds has recovered two large rough diamonds at itsLet??eng mine in Lesotho, it said Monday. The "high-quality," type-IIa stones weigh 117 (pictured) and 110carats, and both have D color, the company noted. The London-based miner'sshare price jumped about 6% in early trading following the announcement. "While we do not know the final value of the stones, it islikely that good-qu...Read More
RAPAPORT... Lucapa Diamond Company has recovered two special-sized roughdiamonds - a light brown stone weighing 103 carats, and an 83-carat, type-IIa diamond,the miner announced Monday.The 103-carat stone is the ninth diamond above 100 carats thecompany has extracted from its Lulo mine in Angola. In November, it announced the discovery of two D-color, type-Ila stones weighing 129 and 78carats...Read More
Lucapa Diamond Company Limited and its partners have announced the recovery of more large diamonds from the Lulo Diamond Project in Angola. The latest recoveries include diamonds weighing 103 carats and 83 carats (pictured), both of which were recovered from Mining Block 8. "The 103-carat light brown diamond and 83-carat Type IIa diamond continue to evidence the special nature and p...Read More
JOHANNESBURG (miningweekly.com) – LSE-listed Gem Diamonds has recovered two large high-quality D-colour, type IIa diamonds from its 70%-owned Letšeng mine in Lesotho.The recovered diamonds include a 117 ct and a 110 ct diamond.AdvertisementLetšeng is the highest dollar per carat kimberlite diamond mine in the world.To watch Creamer Media's latest video reports, click...Read More
(IDEX Online) - Gem Diamonds Limited has recovered two large high-quality D color Type IIa diamonds from the Let??eng mine in Lesotho. The diamonds weigh 110 and 117 carats, respectively, the company said in a brief statement, adding that Let??eng is the highest dollar per carat kimberlite diamond mine in the world. Read More
JOHANNESBURG (miningweekly.com) – The Lulo diamond mine is continuing to yield large diamonds, with Lucapa Diamond Company reporting on Monday that it had recovered its ninth 100-ct-plus diamond at the Angola mine.The ASX-listed company, which mines Lulo with partners Endiama and Rosas and Petalas, reported the discovery of a 103 ct light brown diamond and an 83 ct Type IIa diamond.Advertise...Read More
Aluminium was the only metal that ended lower at the end of trading on the London Metal Exchange on Monday January 8.The three-month aluminium price ended around 1.2% lower than its pre-weekend closing level at $2,175 per tonne.Around 14,000 lots changed hands by the 5pm close, outpacing copper by about 2,000 lots.Stocks fell a net 3,600 tonnes to 1,095,875 tonnes. Although on-warrant aluminium st...Read More
NFEx Markets' chief operating officer and its most senior director, Mark Bradley, has resigned from the board alongside non-executive director Jim Coupland, filings on the UK's Companies House show on Monday January 8.The over-the-counter base metals trading platform is due to start trading in the coming months.Bradley and Coupland will remain advisers to NFEx alongside former London Metal Exchang...Read More
Comex copper prices recovered from a one-week low amid consolidation on Monday January 8, while a stronger dollar is likely to cap the upside. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.25 cents or 0.4% to $3.2420 per lb. Last week, the contract hit the lowest point since December 22. "Prices could look to resume their upward...Read More
Peter KrauthSince the start of 2018, gold prices have not only stayed above $1,300, but they've continued to climb higher.Even though gold prices today have dipped around $5 per ounce, gold investors have nothing to worry about in 2018.In fact, we're getting confirmation that the gold bull market of 2018 is just beginning.While 2017 didn't see the surging price – and eventual collapse –...Read More