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
* Mine owned by Petra Diamonds may take 5-10 years to clear debt* Diamond miners face price pressure, synthetic competitionThe owner of one of the world's most famous diamond mines could be about a decade away from clearing its multi-million-dollar debts, in a sign of the struggles facing an industry assailed by synthetic rivals and uncertain demand.Petra Diamonds bought Cullinan in 2008, aiming t...Read More
The world's top diamond producer by output, Alrosa (MCX:ALRS), found a heart-shaped rough diamond at the Udachnaya kimberlite pipe in Yakutia, eastern Russia.The stone weighs 65.7 carats and company experts say it may be over 300 million years old."Diamonds of a distinctive shape that resemble some object or symbol are extremely rare in nature. Most rough diamonds are octahedron-shaped or do not h...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
(IDEX Online) - The Israel Diamond Institute (IDI) will hold an auction of special stones at HKTDC's Hong Kong International Diamond, Gem & Pearl Show following a successful pilot event last year. The auction will be held at IDI's Israel Diamond Pavilion, which this year will host 58 companies. There will also be 10 Israeli companies exhibiting in other locations throughout the show....Read More
(IDEX Online) - Gem-A (the Gemmological Association of Great Britain) has established an independent, non-profit entity in the United States designed to facilitate its gemological education in an important market. Gem-A USA will provide the same Gemmology and Diamond Diploma courses designed to inspire and educate the next generation of gemologists, the lab said. Gem-A USA has announ...Read More
HARARE/LONDON – London-listed miner Vast Resources is to be allowed into Zimbabwe's diamond fields, Mining Minister Winston Chitando said on Thursday, joining other new entrants including Russia's Alrosa.Zimbabwe is stepping up efforts to exploit its mineral resources to revive a moribund economy sapped by high inflation and unemployment, with President Emmerson Mnangagwa looking to...Read More
RAPAPORT... Fewer US consumers bought jewelry for their weddings in 2018, while the number of couples opting for engagementrings 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 decli...Read More
Steel billet import prices in Egypt increased this week with deals being done at higher levels in the wake of rising global scrap costs, sources told Fastmarkets on Thursday February 14.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $485-495 per tonne cfr on Thursday, rising from $460-470 per tonne cfr last week.Billet producers in the CIS sold material to Egypt...Read More
CULLINAN – The owner of one of the world's most famous diamond mines could be about a decade away from clearing its multi-million-dollar debts, in a sign of the struggles facing an industry assailed by synthetic rivals and uncertain demand.Petra Diamonds bought Cullinan in 2008, aiming to breathe new life into the South African mine renowned for yielding the largest rough gem diamond eve...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
Turkish domestic rebar and wire rod prices have gone up in line with increasing scrap costs over the past week, while demand remained sluggish, sources said on Thursday February 14.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,180-3,250 ($604-618) per tonne ex-works, including 18% VAT, on February 14 up from the TRY3,079-3,150 per tonne last week.The local rebar price...Read More
Following a strong performance in December, Russian miner Alrosa’s rough and polished diamond sales fell to $281.5-million in January – a 44% decrease on the same month in 2018.January’s rough diamond sales amounted to $278.2-million and polished diamond sales were $3.4-million, the company reported on Tuesday.Advertisement“In January, market activity was lower than usual....Read More
Steel billet prices in Turkey increased over the past week due to strong demand in both the domestic and export markets, along with rising scrap import costs, sources said on Thursday February 14.Fastmarkets' weekly price assessment for domestic billet in Turkey was $480-490 per tonne ex-works, up from $460 per tonne.Several domestic billet sales were heard over the past week, sources said.A steel...Read More
RAPAPORT... Firestone Diamonds has unearthed a 70-carat white rough stone fromits Liqhobong mine in Lesotho. "The 70-carat stone was recovered in the northern, low-gradepart of the pit, where the bulk of our mining will take place in the comingmonths," Firestone CEO Paul Bosma said Tuesday. The stone - which was removed undamaged - follows the miner'sdiscovery of a 46-carat white diamond in...Read More
Turkish rebar export prices have continued to rise in line with rising scrap costs, but steel mills are still struggling to sell material due to poor demand and trade barriers, sources said on Thursday February 14.Mills in Turkey raised their offers to $510-515 per tonne fob this week on an actual weight basis from last week's $490-500 per tonne, but there were only a few small cargoes, sold...Read More
RAPAPORT... The lab-grown-diamond sector is enjoying a spike in awareness among US consumers and is starting to make headway in the engagement-ring market, according to a report by the International Grown Diamond Association (IGDA)."Over the last two years, the anecdotal feedback from IGDA members has been that the bridal category is where they've had most success," said Richard Garard, secre...Read More
Australian miner South32 increased its manganese ore operating margin to 64% in the six months to December 31, 2018, it revealed in its half-yearly results presentation on Thursday February 14.Manganese ore generated the company's highest operating margin during the period, the first half of its 2018-19 financial year. This was up from 60% for the corresponding months of the 2017-18 year.In compar...Read More
The Turkish deep-sea scrap import markets remained quiet on Thursday February 14, but market participants expected prices to soften due to limited demand and weak finished steel markets in the country, sources said.There was talk in the market about a Baltic Sea cargo sold at $326 per tonne cfr for HMS 1&2 (80:20), but there was no confirmation of this transaction at the time of publication.Market...Read More
UK ferrous scrap prices for deliveries in February have jumped in general by about ?20 ($26) per tonne, depending on grade, due to persistent weakness in export prices to the key destination of Turkey, trade sources told Fastmarkets on Wednesday February 13.The move followed a uniform price drop of ?15-20 per tonne in January settlements, after an earlier drop of ?20 per tonne in December. The...Read More
Seaborne iron ore prices nudged up on Thursday February 14 with traders heard taking cargoes, although buying from Chinese mills remained limited.MB 62% Fe Iron Ore Index: $88.32 per tonne cfr Qingdao, up $1.10 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.71 per tonne cfr Qingdao, down $0.35 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.61 per tonne cfr Qingdao, down $0.03 per tonne....Read More