Copper concentrate treatment and refining charges (TC/RCs) for Asia Pacific fell to their lowest in at least six years, squeezed by the smelter consumption ramp-ups and against a backdrop of tightening supply.Fastmarkets' cif Asia-Pacific spot copper concentrate TC/RC index was calculated at $62.10 per tonne/6.21 cents per lb on April 15, down from $66.70 per tonne/6.67 cents per lb in late M...Read More
Fastmarkets has published its monthly ferro-nickel cif China premium later than scheduled on Tuesday April 16 because of a reporter error. The premium assessment for ferro-nickel with 26-32% nickel content cif China was assessed, as per our methodology, on March 25 but not published until today. The date of publication has been amended to March 25 to reflect the date the assessment took place...Read More
Novolipetsk Steel (NLMK), Russia's largest steelmaker, doubled its sales of steel slab to third parties in the first quarter of 2019 on reduced demand from the group's European companies and the effects of import duties in the United States, the company announced on Tuesday April 16.Slab sale volumes to third parties rose to 1.12 million tonnes in January-March 2019, from 569,000 tonnes in 2018, N...Read More
The market for hot-rolled coil (HRC) exports from the Commonwealth of Independent States (CIS) remained soft during the week ended Monday April 15 on low bids in the key outlets, while cold-rolled coil (CRC) was almost unchanged on lower availability.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $485-495 per tonne fob Black Sea on April 15, down from $500-515 per...Read More
Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have remained stable over the past week, with levels of demand low but consistent, Fastmarkets heard on Tuesday April 16.Demand among end-users has been weak, so buyers were unwilling to place orders for large tonnages, sources told Fastmarkets.Stock levels were low in both countries so, if prices were to start...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
The Commonwealth of Independent States export slab price slid by mid-April on pressure from the weakening finished flat-steel market in both the CIS and the global market due to subdued buying activity, Fastmarkets learned.Recent slab offers from CIS to Turkey were heard at $500 per tonne cfr, equivalent to $485 per tonne fob Black Sea, while the latest sales to Europe were all finalized at the sa...Read More
Chinese steel mills are ignoring low bids from overseas buyers on expectations of continued strength in China's domestic market over the remainder of April, sources told Fastmarkets MB this week.Expectations of a supply drop have also improved sentiment in the spot market.Steel prices in China have been on an upward climb since the end of the Lunar New Year. Domestic hot-rolled coil prices in east...Read More
China's domestic rebar market participants had mixed reactions toward futures losses on Tuesday April 16. Domestic Eastern China (Shanghai): 4,050-4,130 yuan ($604-616) per tonne, widened by 10-20 yuan per tonne on both endsNorthern China (Beijing): 4,040-4,060 yuan per tonne, up 30-40 yuan per tonneRebar futures fell during the day, market participants responded to it differently. Some of them co...Read More
RAPAPORT... The American Gem Society (AGS) has given Arkansas jeweler Kelly Newton its Robert M. Shipley award for his contributions to the industryand service to the organization. The third-generation owner and president of Newton'sJewelers has been a member of AGS for 25 years, and has served on its board ofdirectors since 2010. He has been a chair of the organization's membershipcommittee...Read More
RAPAPORT... New Art Cima will become the first Japanese retailer to usethe Sarine Diamond Journey software to sell jewelry to its customers. The platform presents a report of all the steps a diamondtakes from its rough origin to the polished product. It also comes with a three-dimensionalmodel of the original uncut stone that a customer can see and touch, Sarinesaid this week. "Each diamond...Read More
RAPAPORT... Diamond production at Rio Tinto dropped 18% year on year inthe first quarter of 2019, as the miner recovered lower-grade ore at its twodeposits. Production came to 3.8 million carats for the three monthsending March 31, the company said Tuesday. The Argyle mine in Australia yielded2.8 million carats, a 22% decrease compared to the same period last year. Thedecline was due to the p...Read More
RAPAPORT... Swiss luxury watchmaker Breitling will not return toBaselworld in 2020, and will instead focus on marketing through its ownplatform.Although the watch and jewelry exhibition proved successfulfor the company this year, the fair's new schedule, which will begin next year,clashed with Breitling's. "The decisive factor is the timing of Baselworld at the endof April, which cannot be re...Read More
RAPAPORT... Production at Petra Diamonds fell in the third fiscalquarter due to operational challenges at its Finsch mine in South Africa, it said Monday. Output for the three months ending March 31 dropped 7% to924,228 carats. Production at Finsch plunged 30% to 387,370 carats, 55,000carats below the miner's expectation. The majority of the shortfall was due toequipment problems at the depos...Read More
During a trade mission to Sierra Leone that involved a group of 29 international diamantaires and jewelers, Martin Rapaport, Chairman of the Rapaport Group, presented a proposal to the government of Sierra Leone that he believes would optimize the country's diamond industry.In a media statement, Rapaport said the proposal includes a systematic and sustainable business model that "will optimize the...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.As Indonesia heads for the polls on 17 April, Wood Mackenzie's research director Andrew Harwood provides the following commentary:"We predict that President Jokowi will once again defeat his 2014 opponent, Prabowo Subianto, and secure...Read More
Petra Diamonds published a report for the first quarter of the year. The company produced 924,228 carats, compared to 992,315 carats in the first quarter of 2018, reflecting the increased production at the Cullinan, Koffiefontein and Williamson mines, but offset by a lower production at the Finsch mine. With the expansion of operations at the Cullinan mine, across the so-called C-Cut footprint, t...Read More
This year, National Jeweler honored two single-store independent jewelers along with one multi-store independent. The 2019 inductees are Cathy Calhoun of Calhoun Jewelers, Julia and David Gardner of David Gardner's Jewelers & Gemologists, and Judy and Steve Padis of Padis Jewelry. "We are thrilled to welcome five jewelers into the National Jeweler Retailer Hall of Fame this year. We thi...Read More
ImaGem Inc. launched Varna-D, a portable device for color grading polished diamonds. Weighing only half a pound and about the size of a weighing scale, Varna-D was designed and built with the members of the diamond trade in mind, as they require accessible and easy to handle tools for accurate and repeatable grading of loose diamonds. The company said its color grading technology was developed and...Read More
LONDON – African miner Petra Diamonds, which has high debt levels, aims to be cash flow positive in the second half of the year and will then be able to consider future developments, its new chief executive said on Monday.The company's share price has fallen 55% since the start of the year as weak diamond prices weighed and Petra grapples with debt following years of capital expenditure...Read More