Steel H-beam prices in Northern Europe moved downward this week although feedstock costs have begun to rise again, sources told Fastmarkets on Wednesday May 22.Fastmarkets' price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?585-615 ($653-686) per tonne delivered on May 22, down from ?,?590-620 per tonne delivered one week earlier.Beam prices remained u...Read More
The price of rebar produced and delivered in Northern Europe has remained stable week on week, but with optimism among mills returning because of the potential price rises for ferrous scrap, market participants told Fastmarkets on Wednesday May 22.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?525-545 ($586-608) per tonne delivered on May 22, unchanged from May 1...Read More
Sales volumes for flat steel distributors in Brazil grew by 18.10% year on year in April 2019, amid destocking while large importers lost market share, local distribution association, Inda, said this week.Flat steel sales totaled 266,000 tonnes, up from 225,100 tonnes in April 2018. However, volumes were down by 15% compared with March's 312,900 tonnes, which was weaker than Inda's forecast o...Read More
Troubled UK long steel producer British Steel has been placed into compulsory liquidation following an order from the UK high court, the UK official receiver, part of the UK's Insolvency Service, said on Wednesday May 22."The company in liquidation is continuing to trade and supply its customers while I consider options for the business. Staff have been paid and will continue to be employed," a st...Read More
RAPAPORT... Macy's and J.C. Penney noted strong sales in their jewelrydivisions in the first fiscal quarter, even as overall results showed a downward trend. "Our fine-jewelry business continues to deliver strong salesresults," J.C. Penney chief financial officer Bill Wafford said on an analystcall transcribed by SeekingAlpha. "We saw particular strength in categories such as modern bride, go...Read More
RAPAPORT... Gemfields' May emerald sale fetched $22.4 million, as the miner noted an improvement in the market. The Singapore sale's top lot, purchased by Chatree Gems ofThailand, set a price-per-carat record for Zambian rough emeralds at aGemfields auction. The lot comprises two gems weighing a combined 65 carats, which werenamed Green and Ice in honor of the 1981 movie, Green Ice, starring...Read More
Sandvik Additive Manufacturing has created the first ever 3D printed diamond composite. The stones lack sparkle, but are perfect for a wide range of industrial uses, says the company. The advantage is that the diamond can be 3D printed in very complex shapes, unlike mined or manufactured diamonds.Sandvik says the difference between its diamond and natural or synthetic diamonds is that its process...Read More
RAPAPORT... The World Jewellery Confederation (CIBJO) and the ColouredGemstones Working Group (CGWG) will collaborate to help companies in theindustry implement responsible sourcing for gemstones such as rubies, emeraldsand sapphires.The groups will develop management tools and resources thatcolored-gemstone businesses can download free of charge, to support them in conductingdue diligence of...Read More
When Signet jewelers' (NYSE: SIG) e-commerce subsidiary James Allen began offering man-made diamonds in May, the company added an additional search tab to the site: "Earth-created diamonds" or "Lab-created Diamonds." Up until this point, websites offering both products typically defaulted to natural diamonds or simply "diamonds" providing a further filter required to search for the man-made variet...Read More
RAPAPORT PRESS RELEASE, May 22, 2019, Las Vegas ... RapNet, the world'slargest diamond trading network with daily listings of over $7.4 billion, willbe voting on whether it should provide diamond listing and pricing services forsynthetic diamonds. Voting will be limited to registered RapNet members wholog in to RapNet.com and will take place from Sunday May 26 through Friday May31, 2019.The result...Read More
Marty Hurwitz of MVI Marketing launched a video with three couples talking about engagement and bridal rings shopping. Here is what he sought to clarify: One year after De Beers launched its Lightbox collection at JCK and moments after Signet has put its toe in the water with its new LGD jewelry line through JamesAllen.com, what is this doing to consumer demand for lab-grown diamonds???,?"espec...Read More
The Lab Grown Diamond Council (LGDC) has retained an internationally recognized third-party certifier and standards developer, SCS Global Services (SCS), to create the first sustainability standard in the diamond and jewelry market. Certification to this premier standard will involve a comprehensive assessment of the lab grown diamond production process, compliance auditing, diamond testing, and...Read More
The Securities and Exchange Commission (SEC) obtained a court order halting an ongoing $30 million Ponzi scheme targeting more than 300 investors in the U.S. and Canada. The SEC complaint unsealed Monday charges South Florida-based Argyle Coin, LLC, a purported cryptocurrency business, and its principal Jose Angel Aman with using investor funds to run a Ponzi scheme. On May 20, the Honorable Judge...Read More
RAPAPORT... Frederick Goldman has launched a lab-grown manufacturing center inMexico as part of its new jewelry supply business. Jewelry SolutionsGroup manufactures custom diamond jewelry and engagement rings, delivered to clients within a week. The venture is comprised of two units, an existing facility for natural-diamond jewelry, and a separate site for lab-grown pieces, both in Mexi...Read More
The quietness in the deep-sea scrap markets has continued because market participants were still looking for clarity in the export markets for finished products such as rebar, sources said on Wednesday May 22.After the United States reduced its tariff on steel imports from Turkey to 25%, from 50%, on May 17, Turkey was again in a position to supply to the US market.But scrap suppliers pulled back...Read More
Iron ore prices continued their uptrend on Wednesday May 22 with the Fastmarkets MB 62% Fe Iron Ore Index rising to more than $105 per tonne cfr China.MB 62% Fe Iron Ore Index: $105.78 per tonne cfr Qingdao, up by $3.75 per tonne.MB 62% Fe Pilbara Blend Fines Index: $103.97 per tonne cfr Qingdao, up by $3.75 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $108.26 per tonne cfr Qingdao, up by $2.50...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreBHP, Global Ore, 80,000 tonnes of 62% Fe...Read More
The ongoing consolidation of the Indian steel industry is a "right step" in bringing back growth and credibility to the domestic markets, Nathani Group's Zain Nathani said at the BIR 2019's World Recycling Convention & Exhibition in Singapore this week.The vice-president of BIR's Ferrous Division said bankrupt mills such as Bhushan Steel, Monnet Ispat & Energy, Essar Steel and Usha Martin have all...Read More
The reduction of Section 232 tariffs against Turkey was a "pivotal moment" for global ferrous scrap prices this year, market sources told Fastmarkets this week at the Bureau of International Recycling's 2019 World Recycling Convention & Exhibition in Singapore.Bearish market sentiment flipped straightaway overnight once United States president Donald Trump tweeted that the Section 232 tariffs...Read More
Global usage of electric-arc furnaces (EAF) by steelmakers was up 12% in 2018, largely due to China's ongoing drive to increase the quantity of ferrous scrap charged into blast furnaces (BF) to reduce pollution, statistics released by the Bureau of International Recycling this week at its 2019 World Recycling Convention & Exhibition in Singapore showed.EAFs accounted for 524 million tonnes of crud...Read More