Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
RAPAPORT... Dalumi Group has shut down Zoara, its jewelry retail platform,the Israel-based diamond company said.The e-commerce page stopped accepting purchases on January 1,and will complete and ship remaining orders in the next few days, accordingto a message on the site. "It was our honor to provide you with outstanding diamondsand fine jewelry to celebrate the important moments of life," the me...Read More
(IDEX Online) - Hong Kong based jewelry giant Chow Tai Fook Jewellery Group Limited has signed an agreement with Tencent in which WeChat Pay Hong Kong can be used for all purchases at its stores in Mainland China. The deal aims to encourage Hong Kong buyers to use digital payments in Hong Kong dollars. The use of WeChat Pay HK in both Mainland China and Hong Kong "provides the utmos...Read More
RAPAPORT... Same-store jewelry sales at Titan Company grew during the thirdfiscal quarter, signaling strong demand for branded jewelry during the Diwali and Dussehra festivalperiod, the Indian retailer said. "Customer demand was buoyant in the festive season ofDiwali-Dussehra," the company noted in a trading update Friday. "Expansion ofthe store network continued as planned, to benefit from the ri...Read More
RAPAPORT... Retail sales of jewelry and other luxury items in Hong Kongdeclined for the first time in 17 months as global economic uncertainties impacted consumer sentiment.Revenues from jewelry, watches, clocks and other valuablegifts dropped 3.9% to HKD 5.88 billion ($750.8 million) in November, themunicipality's Census and Statistics Department reported Thursday. Sales in allretail categories i...Read More
Brazilian domestic steel prices were unchanged in the last month of 2018 and through the first days of 2019, with stronger foreign exchange rates in the country mitigated by the Chinese price downtrend easing somewhat.On the flat steel side, the market was steady in the first days of the year, with no price readjustments compared with the previous month. But small discounts to large-volume purchas...Read More
(IDEX Online) - Harry Winston Inc. has filed suit regarding the building it leases in Chicago which the famous jewelry retailer alleges was damaged by a nearby construction project and cost it more than $2 million in lost profits. The complaint was filed in Cook County Circuit Court against 65 Oak Street Owner LLC, LG Development Group LLC, and others, citing the Chicago Excavation Ordinanc...Read More
Turkey increased the hot-rolled coil (HRC) import duty to 6% for re-rollers from 3.5% previously, effective from January 1, 2019.The country will impose the import duty on HRC imports from re-rollers as well as tube and pipe producers. Tube and pipe producers were previously exempt from the duty discount until January 1.The duty for re-rollers was 5% until January 1, 2018, when it was reduced to 3...Read More
Import prices for steel slab in Southeast Asia and East Asia narrowed downward over the past week due to lower offers and bids, amid persistent bearish sentiment and lackluster finished steel markets.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $430-435 per tonne cfr on Monday January 7, down from $430-440 per tonne cfr a week earlier.Trading ac...Read More
China's hot-rolled coil prices picked up some strength on Monday January 7 amid steady demand, with supply said to be tightening amid producers' bearish outlook for the market.DomesticEastern China (Shanghai): 3,670-3,680 yuan ($534-536) per tonne, up 30 yuan per tonneNorthern China (Tianjin): 3,600-3,620 yuan per tonne, up 40 yuan per tonneThe day's price gains were bolstered by demand from end u...Read More
China's domestic rebar prices moved up on Monday January 7 following gains in the billet and futures markets over the weekend. Domestic Eastern China (Shanghai): 3,730-3,780 yuan ($543-550) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,650-3,680 yuan per tonne, up 30-50 yuan per tonneA notice late last Friday from the Chinese central bank regarding its decision to lower banks' reserve...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic,...Read More
Import prices for re-rolling-grade hot-rolled coil into Vietnam were stable this past week amid limited spot trading.Fastmarkets MB's weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $470-480 per tonne cfr for the week ending Monday January 7, unchanged from the preceding week.Industry sources s...Read More
The domestic scrap price in Turkey has continued to fall over the past week, in line with the weakening imported scrap and domestic finished-steel values, sources said on Monday January 7.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,480-1,550 ($278-291) per tonne delivered on January 7, narrowing down from TRY1,490-1,590 per tonne last week.Long...Read More
Physical iron ore prices strengthened further on Monday January 7 in line with gains in futures and steel markets, after China's central bank acted to improve capital liquidity.MB 62% Fe Iron Ore Index: $73.51 per tonne cfr Qingdao, up $0.41 per tonne. MB 62% Fe Pilbara Blend Fines Index: $73.34 per tonne cfr Qingdao, up $0.41 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.30 per tonne cfr Q...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreVale, Global Ore, 70,000 tonnes of 65% Fe Iron Ore Carajas, traded at $88.80 per tonne cfr China, bill of lading dated December 14.Vale, Global...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.2% this morning, Monday January 7, with copper recently quoted at $5,937 per tonne – this after average gains of 1.5% last Friday. Volume across the complex has been average with 5,995 lots traded as at 7.15am London time. In the precious metals this morning, gold prices are off their highs...Read More
Iron ore prices at Chinese ports largely maintained their strength in December from a year earlier, edging up throughout the month and outperforming transactions in the seaborne market.Read More
Seaborne coking coal spot prices weakened further on Monday January 7 with sellers lowering their offers in attempts to secure buyers.A cargo of a top Australian brand with an end-January laycan was sold to an end user late last Friday at $202 per tonne cfr China, sources told Fastmarkets."The market has yet to bottom out. A sixth round of coke price decrease has been mostly accepted by coke plant...Read More
Seaborne iron ore concentrate prices strengthened in the week to January 4, while pellet prices weakened.ConcentratesFastmarkets' MB 66% Fe Iron Ore Concentrate Index stood at $92.76 per tonne cfr China last Friday, up by $1.43 per tonne from December 28.The daily MB 65% Fe Iron Ore Index averaged $87.13 per tonne cfr China last week, higher than an average of $86.88 per tonne cfr China the previo...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in early trade.General Electric (GE $) is expected to open higher on reports that the company is in talks to sell its jet leasing unit to Apollo.Eli Lilly dropped $3.27 to $111.39 and Loxo Oncology gained $90.88 to $230.75 after Eli Lilly offered to purchase Loxo for $235 per share cash. Value of the deal is esti...Read More