RAPAPORT... Provenance and lab-grown diamonds have dominated the industry's conversation for some time, but developments in 2019 have made them the year's strongest news themes. In the 13th edition of the Rapaport Diamond Podcast, the team discusses these developments - which are being driven by the majors such as De Beers and the Gemological Institute of America (GIA) - and their implications for...Read More
RAPAPORT... The US polished-diamond trade was sluggish in the firsttwo months of the year, with imports declining and exports stable. Bothcategories recorded a weaker February than January. The drops in import valuereflected a lower average price in both months, outweighing higher volumes.US Diamond Trade Data for February 2019 Millions unless stated otherwiseRead More
Turkish rebar and wire rod export prices have weakened over the past week on the back of limited demand and falling scrap import values, sources said on Thursday May 2.Turkish steel producers lowered their offers by $5 per tonne to $475-480 per tonne fob on actual weight basis, while their customers were bidding $470 per tonne fob and below.Fastmarkets' weekly price assessment...Read More
James Allen, the etail-jeweler, will be offering laboratory grown diamonds (LGDs) to consumer. James Allen is the first created company in the Signet group to do so. Following this news, social media channels were buzzing with comments, condemnations as well as praise. Oded Edelman, President of James Allen, a firm that has been owned by Signet Jewelers since 2017, said that the sale of LGDs is a...Read More
RAPAPORT... The original manuscript that paved the way for the cuttingof the 3,106-carat Cullinan diamond to create the British Crown Jewels fetchedmore than seven times its high estimate at Bonhams. The sale included the documents representatives of KingEdward VII and London diamond brokers M.J. Levy & Nephew signed in 1908, aswell as a paste replica of the Cullinan diamond in its origin...Read More
TORONTO – Lucara Diamond Corp, which has recovered two of the largest diamonds in recent history, is turning to technology to ensure growth in an industry where new mine acquisitions remain elusive.For the Vancouver-based junior miner, that means using advanced technology like sorting based on atomic density to boost value from its Karowe mine in Botswana, and also diversifying away from min...Read More
Kyrgyzstan's parliament voted on Thursday to ban uranium exploration and mining in the Central Asian nation despite previously issuing licenses to foreign companies such as Canada's Azarga Uranium.The move, which may expose the Bishkek government to compensation claims from foreign investors, followed a series of public protests against plans to develop the Kyzyl Ompul project in which Azarga has...Read More
Diamond miner Alrosa on Monday said the revenue from the sale of special size diamonds at an auction in Vladivostok, exceeded $9.65-million.The auction took place from April 8 to 19, with 105 diamonds with a combined weight of 2 481.9 ct put on offer and 2 030.32 ct sold.AdvertisementOwing to the “decent results” from the auction, Alrosa executive committee member Evgeny Agur...Read More
RAPAPORT... Output at Firestone Diamonds slipped in the third fiscal quarteras the company processed ore from a lower-grade portion of the mine. Production dropped 19% to 155,206 carats at the company'sLiqhobong mine in Lesotho in the three months ending March 31. Throughout the rainyseason, Firestone mines the northern portion of the pit, which containslower-grade ore. "During the final qua...Read More
Iron ore pellet-maker Bahrain Steel has signed a contract with UK-based mining company Anglo American for the supply of 8 million wet tonnes per year of iron ore pellet feed, the Middle Eastern company announced on Monday April 29.The contract will ensure supply of about 60% of the feedstock that Bahrain Steel would need to achieve its capacity of 12 million tpy of finished iron ore pellets from t...Read More
The Turkish deep-sea scrap import market remained quiet on Thursday May 2, with participants expecting lower prices following the sale of a cheaper billet cargo to Saudi Arabia, sources have told Fastmarkets.A steel mill in northern Turkey sold 40,000 tonnes of billet to Saudi Arabia at $425 per tonne fob, equivalent to $452 per tonne cfr, multiple sources reported on Thursday.Following news of th...Read More
The planned construction of a new steel mill in Whyalla, Australia by business group GFG Alliance will add to oversupply in the Asia-Pacific region, market sources told Fastmarkets MB this week."It's something which the region does not need, especially in the face of the many steel mega-projects which are being planned in Asia," an industry source in Southeast Asia said.GFG's planned "Next-Generat...Read More
Higher offers and concerns over possible supply disruptions gave the seaborne coking coal market a boost on Thursday May 2 despite the absence of Chinese participants during the day."I made an inquiry for a cargo of premium mid-vol hard coking coal for loading in June. But the miner told me that the particular cargo could fetch more than $205 per tonne fob Australia due to tight supply," an Indian...Read More
Seaborne iron ore prices remained flat on Thursday May 2, with trading activity muted due to the ongoing Labor Day public holiday in China.MB 62% Fe Iron Ore Index: $94.17 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $93.20 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $97.27 per tonne cfr Qingdao, unchanged. MB 58%...Read More
Fastmarkets topped the base metals leaderboard in the Apex first-quarter 2019 contest, with an accuracy rating of 98.41%, while Edward Meir of INTL FCStone was top of the precious metals table with 97.45% accuracy.For steel raw materials, Casper Burgering from ABN Amro topped the leaderboard, with 91.16% accuracy.Click on the image below to download the full report.Second in the base metals leader...Read More
Lucara Diamond Corp, which has recovered two of the largest diamonds in recent history, is turning to technology to ensure growth in an industry where new mine acquisitions remain elusive.For the Vancouver-based junior miner, that means using advanced technology like sorting based on atomic density to boost value from its Karowe mine in Botswana, and also diversifying away from mining into an onli...Read More
Base metals prices on the London Metal Exchange consolidated during morning trading on Thursday May 2, with prices broadly range bound following the US Federal Reserve's decision to keep interest rates unchanged. Volumes traded over the morning session were moderate - despite the absence of China due to national holidays - with copper clocking more than 6,000 lots exchanged as of 9:45am London tim...Read More
Mined diamonds are less carbon-intensive than man-made, but their producers should use more green energy, according to a study commissioned by the natural diamond industry, highlighting tensions between the mined and lab-grown sectors.The U.S. Federal Trade Commission, which investigates allegations of deceptive advertising, sent warning letters to eight lab-grown diamond companies at the beginnin...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets.Unless otherwise stated, all prices are per lb and on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price...Read More
Equity indices moved lowerBond prices moved lowerU.S. Dollar Index moved higherThe VIX Index spiked. ObservationsRough day for base metal and base metal stock prices on a breakdown by copper! Also, breakdowns by Freeport McMoran Copper & Gold and First Quantum. Cramer on Mad MoneyHe noted after the close last night that equity traders should "take money off the table" Following is a...Read More