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
The price of steel rebar in the Northern European domestic market was unchanged this week but pressure came from low ferrous scrap costs, and market participants expected to see reduced rebar prices in the coming weeks, Fastmarkets heard on Wednesday September 18.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?475-490 ($524-541) p...Read More
Steel hollow sections prices in the European domestic market remained unchanged this week, with many market participants uncertain about whether to order now or wait until there is more clarity, sources told Fastmarkets on Wednesday September 18.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?585-610 ($646-673) per tonne on Wednesday, u...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 18 that are worth another look.The global nickel supply deficit will shrink in 2020 despite the implementation of the latest Indonesian ore export ban, according to Denis Sharypin, head of commodity market research for Russian multi-metal miner Nornickel.The London Metal Exchange will give members incentives to trade...Read More
The global nickel supply deficit will shrink in 2020 despite the implementation of the latest Indonesian ore export ban, according to Denis Sharypin, head of commodity market research for Russian multi-metal miner Nornickel.Sharypin was speaking at the 18th International Stainless and Special Steel Summit in Seville, Spain, on Wednesday September 18.While Nornickel, the world's largest producer of...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 18.Please click...Read More
Nickel premiums fell in Europe and Asia while in the United States the 4x4 rate held steady, reflecting a lack of trade, but the premium on briquette - the more liquid form - fell. Europe briquettes, full-plate and cut-cathode premiums fall while stocks balloon at LME-listed warehousesChinese premiums weaken against backdrop of LME backwardation, lack of arbitrage opportunities US buyers remain on...Read More
The London Metal Exchange will give members incentives to trade cash-settled futures contracts as well as those for precious and ferrous metals. With the aim of encouraging burgeoning futures markets for the likes of cobalt, alumina and steel scrap, the exchange has devoted a pot of $2 million to subsidize category I and II members trading the contracts that were launched over the last five years,...Read More
A steady uptick in the London Metal Exchange lead price prompted a move lower for Indian lead premiums in the week ended Tuesday September 17, while global zinc premiums held steady amid continued demand concerns in Europe, with strong production and tight spot availability doing little to move premiums in the United States and Shanghai. Climbing LME lead price pressures Indian premiumsUS premium...Read More
Prices for industrial-quality, low-carbon wire rod tumbled in the United States for the eighth consecutive month after input costs fell and distributors avoided buying for stock. Fastmarkets' price assessment for steel wire rod (low carbon) industrial quality, fob mill US fell to $30-31 per hundredweight ($600-620 per short ton) on Tuesday September 17 from $31.50-32.50 per cwt on Tuesday Aug...Read More
The organizers of the September Hong Kong Jewellery & Gem Fair rejected the trade's request for a discount, executives confirmed Wednesday.The Hong Kong Jewelry Manufacturers' Association (HKJMA) had asked Informa Markets for a 25% reduction in exhibitors' fees due to the uncertainty arising from protests in the city. But the company chose instead to provide incentives for buyers to attend, su...Read More
RAPAPORT... The Gemological Institute of America (GIA) has confirmed anew mineral species discovered in Myanmar, which it has called johnkoivulaite. The organization named the substance in honor of renownedmicroscopist and GIA researcher John Koivula. The 40-year industry veteran hasco-authored several books on geology, diamonds and minerals, and has received anumber of industry awards, inclu...Read More
RAPAPORT... Alrosa's supervisory board is set to vote on the acquisitionof diamond manufacturer Kristall, which will enable the miner to focus onincreasing sales in the US and China, it said Tuesday. The deal, which will go up for consideration on September24, will cost Alrosa RUB 1.89 billion ($29.3 million), and will increase thecompany's share of the Russian polished-diamond market from 20...Read More
RAPAPORT... It seems men are tired of letting women do all thesparkling. In September 2018, The New York Times printed a story aboutthe growing popularity of men's jewelry, tying the trend to the introduction ofmen's fashion weeks and the rise of Instagram. More recently, nautical-cordbracelets, upscale chains, signet rings, and dog-tag-like pendant necklaces havemade style headlines in magaz...Read More
Brazilian import volumes of flat and long steel displayed opposite tendencies in August, according to figures from the country's economy ministry published last week.Import volumes of flat steel declined year on year by 11.29% to 95,116 tonnes in the month, from 107,216 tonnes, mostly because of lower volumes imported from China.Imports of flat steel from China fell to 41,950 tonnes in August 2019...Read More
RAPAPORT... Gem Diamonds has recovered a diamond weighing 127 caratsfrom its Let??eng mine in Lesotho. The miner found the D-color, type II stone on September 11,it said Monday. The diamond is the fourth white stone of that magnitude, andthe seventh over 100 carats Gem Diamonds has retrieved this year. The miner recovered a 114.2-carat yellow diamond from thedeposit in August, as well as a 13...Read More
Steel H-beam prices in Europe were unchanged this week but recent feedstock price falls have put the market under pressure, sources told Fastmarkets on Wednesday September 18.Fastmarkets' price assessment for steel beams, domestic, delivered Northern Europe, was ?,?560-600 ($618-662) per tonne on September 18, unchanged week on week.Falling scrap values continued to put pressure on beam prices dur...Read More
(IDEX Online) - Lucara Diamond Corp. has recovered a 123-carat, gem-quality top white Type II diamond from the Karowe Diamond Mine in Botswana. So far this year, Karowe has yielded 22 diamonds larger than 100 carats, with six stone exceeding 200 carats. The mine also yielded the 1,758-carat Sewel?? ? diamond, the largest diamond ever recovered in Botswana.Lucara also announced it had recovere...Read More
(IDEX Online) - British jeweler Beaverbrooks is getting a jumpstart on the holiday season with the launch of its ?, ?100,000 ($125,000) advent calendar. The "diamond a day" calendar includes diamond rings, necklaces and earrings. As reported by Metro, the calendar features 25 drawers that the lucky owner will open in the countdown to Christmas. Nestled inside are a Once platinum diamond solit...Read More
Russian diamond miner Alrosa is considering the acquisition of Russia's largest producer and exporter of polished diamonds, Kristall, which is valued at 1.89-billion ruble.Kristall processes more than 200 000 ct/y of rough diamonds, with 90% of diamond feedstock supplied by Alrosa.Advertisement"On the back of the increasingly complex economic environment, Kristall has been going thro...Read More
(IDEX Online) - Sarine Technologies Ltd has signed a signed a strategic framework with Chinese gemological lab the National Gemstone Testing Center (NGTC). The two sides said they aim to implement artificially intelligence (AI) based 4Cs and light performance grading, diamond traceability and fingerprinting and other digital solutions for the retail trade in China.Sarine and NGTC also said they wo...Read More