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
Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada's largest diversified miner, posted Wednesday quarterly profits below estimates, due mainly to weak prices for heavy crude and base metals.The Vancouver-based miner, the world's second-biggest exporter of steel-making coal, recorded negative pricing adjustments, charges related to a write-down in inventory and an operating loss at its Fort Hi...Read More
European prices for mesh-quality wire rod stayed flat across the continent on Wednesday February 15, with some buyers facing high costs for imports from Turkey in recent days because the European Commission's safeguard import quota has already been fully taken up.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Northern and Southern Europe stayed at ?,?530-550 ($599...Read More
RAPAPORT... Alrosa has launched an exhibition of rare polished coloreddiamonds, including a 14.83-carat pink that is the largest of its colorin Russian history, the miner said Wednesday. The oval-shaped stone was cut from a 27.85-carat rough that the company recovered in 2017 from its Ebelyakh mine in Yakutia. The miner'slargest pink diamond prior to the discovery weighed 3.86 carats. "The si...Read More
RAPAPORT... Helzberg Diamonds has launched its owncollection of lab-grown jewelry, Light Heart, citing increased consumer demand for synthetics. The jeweler - owned by Warren Buffett's Berkshire Hathaway- first introduced the line late last year in a limited number of itsstores, it told Rapaport NewsWednesday. Prices of Light Heart items on Helzberg's retail site ranged from $400 to $9,000 at...Read More
Vale has signed an agreement with the municipal government of Vit??ria, capital of Brazil's south-eastern state of Esp?-rito Santo, to resume operations of pellet plants and port logistics at Tubar??o, the miner said on Wednesday February 13.The municipality previously ordered the company to stop water treatment processes at the site on February 8, which prompted the halt of pellet plants 1 throug...Read More
RAPAPORT... Fewer US consumers bought jewelry for their wedding in 2018, while the number of couples opting for an engagementring also dropped, according to The Wedding Report. The proportion of couples that bought an engagement ring when getting married fell 1.1% in 2018, with 87% purchasing one, according to a survey by the market-research company. Demand for women's wedding bands also decl...Read More
Russia's Alrosa (MCX:ALRS), the world's top diamond producer by output in carats, has put together a collection of recently found large coloured diamonds, which includes a pink oval gem weighing 14.83 carats - the largest of its kind ever found in Russia.The diamond it was cut from a rough found in 2017 at the Ebelyakh deposit in Yakutia, rated by the American journal The National Jeweler as the...Read More
RAPAPORT... G? 1/4 belin Gem Lab is studying how it can place microscopiclabels on diamonds to track them through the supply chain. The Swiss institute launched its Emerald Paternity Test in2017, applying invisible nanoparticles to rough stones to enable industrymembers and consumers to trace the goods back to an exact mine. It's currentlyonly practical for emeralds, as their numerous fissures mak...Read More
RAPAPORT... The Gemmological Association of Great Britain (Gem-A) has partnered with Jewelry Television (JTV) to expand its educational services to theUS market. The UK-based organization has given accreditation to JTV to operate a teaching center in Knoxville, Tennessee, where the retailer is headquartered. The location will be the first under the Gem-A brand in North America, offering gemol...Read More
RAPAPORT... Kering recorded robust sales in its jewelry-and-watchdivision in 2018, amid growing demand for its products in Asia.Jewelry sales rose 7% to EUR 18 billion ($20.33 billion) at the French luxury group, which owns Boucheron, Pomellato and Qeelin. Timepiece sales remained solid, it added."The jewelry houses turned in a solid performance, and sales of the watches brands advanced for t...Read More
(IDEX Online) - ALROSA has conducted a media preview of a collection of large colored diamonds, including unique pink, bright yellow and pink purple gems. The star of the show was a pink oval diamond weighing 14.83 carats - the largest pink diamond in the history of Russia. The gem it was cut from was mined in 2017 in the Ebelyakh deposit in Yakutia and became the largest pink diamond ever...Read More
(IDEX Online) - Alrosa Chief Executive Officer Sergey Ivanov paid an official visit to the Israel Diamond Exchange (IDE), where he was hosted by IDE President Yoram Dvash and IDE Managing Director Eran Zini. Providing an overview of the Israeli Diamond Industry, IDE President Dvash called on Alrosa to expand its rough diamond supply to Israel. Dvash explained that the Israeli industry focus...Read More
Zinc premiums remained unchanged across all markets this week, apart from Shanghai and Italy, despite more relaxed three-month spreads and weaker zinc prices, while lead premiums stayed flat everywhere on low spot trading interest. LME three-month zinc spreads now at contango after a multi-month long backwardation Softened zinc prices have not boosted spot interest and premiums as deals...Read More
(IDEX Online) - The ALROSA Group sold $281.5 million worth of rough and polished diamonds last month, a drop of 44 percent compared to the previous year. Rough diamond sales came to $278.2 million, while polished diamond sales netted just $3.4 million. "In January, market activity was lower than usual," Yury Okoemov, ALROSA Deputy CEO, noted. After active restocking at the midstream...Read More
(IDEX Online) - The Gemological Science International (GSI) has announced that the Emirates International Accreditation Centre (EIAC) has approved GSI's Dubai laboratory accreditation. "The accreditation is valid not only in Dubai, where the GSI laboratory is located, but in all seven members of the United Arab Emirates," the GSI said in a statement. "GSI is the first and the only internat...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday February 13:Aluminium scrapCommercial pure cuttings: ?1,010-1,050 per tonne from ?1,020-1,050...Read More
The London Metal Exchange has extended the consultation period regarding its proposals on pre-trade transparency to March 1, it said in a note to members on Wednesday February 13. The original deadline was February 19. Initial feedback from members, clients and affiliates suggested they favored a longer period to consider the questions posed in the original market engagement notice, which was...Read More
Southern Copper Corporation (SCC) expects to increase its output of copper, zinc and molybdenum in 2019 via bringing new operations to full capacity, chief financial officer Ra??l Jacob said.The company forecasts mined copper output of 986,700 tonnes in 2019 following the start of operations at a new concentrator at its Toquepala mine, which should reach full production of 100,000 tonnes per year...Read More
The briquette premium in the United States narrowed upward in the week ended Tuesday February 12 while the cut cathode equivalent was stable due to steady demand from the steel sector.Elsewhere, a lack of demand in a static European nickel market was putting downward pressure on the uncut cathode premium in the region while the nickel full-plate premium in China was unchanged in low-liquidity trad...Read More
The price for rebar produced and delivered in Southern Europe remained flat on Wednesday February 13, with producers facing higher raw materials costs and unable to pass on the increases to disinterested customers.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?510-520 ($578-589) per tonne delivered on Wednesday.The rebar price has remained at that...Read More