May 17, 2020

De Beers Group partner to sponsor leading UK jewellery conference

De Beers Group
International Institute of Diamond Grading &
Dale Benton
1 min
De Beers Group partner to sponsor leading UK jewellery conference
The International Institute of Diamond Grading & Research (IIDGR), part of the De Beers Group of Companies, has today announced that it will sponsor...

The International Institute of Diamond Grading & Research (IIDGR), part of the De Beers Group of Companies, has today announced that it will sponsor the Company of Master Jewellers’ UK Jewellery Conference.

The conference, taking place at the East Midlands Conference Centre in the UK, is one of the country’s leading showcases for the UK jewellery trade’s year.

IIDGR provides Diamond Grading Reports and a concise Diamond Identification Report from it UK laboratory.  These grading standards and systems combine human expert analysis alongside machine data to create the highest standard of consistency, accuracy and integrity.

Jonathan Kendall, President of the IIDGR has praised the conference as an “important part of the UK trade year.”

“We are delighted to be a part of it, 2016 is proving to be a significant year for the IIDGR in the UK with a building awareness amongst the trade.”

Lucy Reece-Raybould, Executive Director of Business Development and Marketing at CMJ, said:  “Partnerships like this with IIDGR are really important to CMJ, as it ensure that our retail members are given the opportunity to work with the best in the business.”

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May 6, 2021

Copper, iron ore surge as Chinese investors unleash demand

Copper
Iron ore
Renewables
EVs
3 min
Iron ore broke $200 a tonne for the first time, while copper approached a record high as Chinese investors unleashed fresh demand following May holiday

The reopening of major industrial economies is sparking a surge across commodities markets from corn to lumber, with tin climbing above $30,000 a tonne for the first time since 2011 on Thursday.

In the wake of mounting evidence of inflation fuelled by higher raw materials prices, investors are also increasingly focused on when the U.S. Federal Reserve might start throttling back its emergency support.

Copper

Many banks say the rally has further to run, particularly for copper, which will benefit from rising investment in new energy sectors. Copper is at the highest in a decade, fueling bets it will rally further to take out the record set in February 2011. Steel demand is surging as economies chart a path back to growth just as the world’s biggest miners have been hampered by operational issues, tightening ore supply.

“The long-term prospects for metals prices are ‘too good’ and point to higher prices in the next few years,” said Commerzbank AG analyst Daniel Briesemann. “The decarbonization trends in many countries, which include switching to electric vehicles and expanding wind and solar power, are likely to generate additional demand for metals.”

Trading house Trafigura Group and several major Wall Street banks including Goldman Sachs Group Inc. and Bank of America Corp. expect copper to extend gains.

Copper rose as much as 1.6% to $10,108.50 a ton on the London Metal Exchange before trading at $10,080 as of 4:07 p.m. in London.

Bloomberg

Iron Ore

Benchmark spot iron ore prices rose to a record, while futures in Singapore and China climbed.

The boom comes as China’s steelmakers keep output rates above 1 billion tons a year, despite a swath of production curbs aimed at reducing carbon emissions and reining in supply. Instead, those measures have boosted steel prices and profitability at mills, allowing them to better accommodate higher iron ore costs.

Spot iron ore with 62% content hit $201.15 a ton on Thursday, according to Mysteel. Futures in Singapore jumped as much as 5.1% to $196.40 a ton, the highest since contracts were launched in 2013. In Dalian, prices closed 8.8% higher.

Erik Hedborg, Principal Analyst, Steel at CRU Group commented: “Recent production cuts in Tangshan have boosted demand for higher-quality ore and prompted mills to build iron ore inventories as their margins are on the rise. Iron ore producers are enjoying exceptionally high margins as well, around two thirds of seaborne supply only require prices of $50 /dmt to break even.”

China

Still, some analysts including Commerzbank’s Briesemann expect a short-term correction as metals become detached from fundamentals. There’s also a risk that China could engage in policies that may cool demand for iron ore and copper.

The metals rally has boosted concerns about short-term Chinese demand. Some manufacturers and end-users have been slowing production or pushing back delivery times after costs surged, while weaker-than-expected domestic consumption has opened the arbitrage window for exports.

Tin climbed as much as 2% to $30,280 a ton on the LME, boosted by rising orders for the soldering metal. Tin is at the highest since May 2011, with a 48% gain this year making it the best performing metal on the LME.

 


 

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