RAPAPORT... Hong Kong's jewelry exports are expected to slow in 2019 after strong growth last year, due to sluggisheconomic conditions, the municipality'strade body has warned. "Less robust economic growth is likely to affect Hong Kong'sjewelry exports," predicted Alice Tsang, assistant principal economist at theHong Kong Trade Development Council (HKTDC). Shipments of precious jewelry rose 1...Read More
RAPAPORT... Luxury, and jewelry in particular, is a curious industry. On the one hand, itprovides aspirational products and exclusive experiences to consumers; on theother hand, many brands treat consumers very literally: merely as a source ofconsumption. While there are many examples of luxury brands turningrazor-sharp consumer insights into products that not only resonate with, butactually...Read More
RAPAPORT... Diamond-related shares mainly fell in 2018, in line with aglobal stock-market downturn. Investors fretted about trade tensions, uncertainconsumer demand and the impact of the US Federal Reserve raising interest ratesin December. The S&P 500 index ended the year more than 6% down, while HongKong's Hang Seng slid 14%. It wasn't all bad: Some diamond miners did well, whileretail offer...Read More
As a general rule, the most successful man in life is the man who has the best informationWe probably have more rare earth deposits in Canada, or controlled by Canadian-listed juniors, than anywhere in the world. But Spectrum Mining Corporation, a private company, controlled one of the best - the Wicheeda Lake REE claims 80km north of Prince George, BC.Wicheeda LakeIn 2008 Spectrum contracted Falc...Read More
RAPAPORT... In the retail industry, "The customer is always right" haslong been the motto. This drive to please consumers means businesses areconstantly in search of new and inventive ways to make them happy. But where dothey start? What does the general public look for when making a purchase? Andwhat is everyone talking about when they say the new-age consumer is lookingfor an "experience"?T...Read More
RAPAPORT... Gem Diamonds has recovered a 125-carat diamond at its Let??engmine in Lesotho, bringing the company's annual haul of 100-carat-plus stones to15. It found the high-quality, white, type IIa diamond onDecember 20, shortly after unearthing two other stones weighing 101 carats and71 carats, the miner said last month. The total number of diamond discoveries above 100 carats beatsthe co...Read More
(IDEX Online) - The IDEX polished diamond price index was flat on the month in December. &nbs...Read More
The price for rebar produced and delivered in Northern Europe was unchanged on Wednesday January 2 due to a lack of new business, while the European Commission's import quota continued to run down over the year-end break. Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe remained at $540-560 ($619-642) per tonne delivered on Wednesday, with many people still out&n...Read More
The aluminium import arbitrage between the United States and Asia narrowed slightly in December due to the lower ocean-freight rates only partly offsetting the lower Midwest aluminium premiums.The differential between cancelling aluminium without the 10% Section 232 tariff from London Metal Exchange-listed warehouses in Asia and shipping the material into the US Midwest also narrowed nearly $10 in...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 2 that are worth another look.The aluminium import arbitrage between the United States and Asia narrowed slightly in December due to the lower ocean-freight rates only partly offsetting the lower Midwest aluminium premiums.There will be a massive influx of copper scrap to China in the first half of this year, with mark...Read More
Comex copper futures softened in the first trading day of the new year in the United States amid disappointing Chinese manufacturing results and persistent weakness in US stocks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange declined 2.90 cents to $2.6020 per lb.Weaker than expected manufacturing data from China prompted the Asian markets to open tr...Read More
Fastmarkets would like to clarify that its Rotterdam duty-paid P1020 aluminium premium assessment for Tuesday January 1 was published on Monday December 31, 2018 instead.This is in accordance with the premium's published pricing schedule and the holiday calendar of the London Metal Exchange.The premium published on December 31, 2018 has been included in Fastmarkets' monthly average for December 20...Read More
Erus Metals USA LLC has withdrawn from London Metal Exchange warehouse services, the exchange said on Tuesday January 1.Erus Metals USA is a subsidiary of Erus Metals Limited, the USA branch only had one warehouse left, in Panama City, Florida, which will now be delisted from the LME. According to exchange data in November, it held no LME stock.In...Read More
The price for rebar produced and delivered in Southern Europe stayed flat on Wednesday January 2, with no new deals reported over the first two days of 2019. Fastmarkets MB's weekly price assessment for domestic rebar in Southern Europe remained at ?,?520-540 ($596-619) per tonne delivered on Wednesday, with very little activity over the New Year break and ahead of the February renewal of the...Read More
With the exception of lead and tin, three-month base metals prices on the London Metal Exchange were for the most part under downward pressure over the final trading days of 2018. Weak manufacturing purchasing managers’ index (PMI) readings showed the Chinese economy has slipped into contraction mode, which is further evidence that the trade dispute between the Asian nation and the United Sta...Read More
Hollow steel sections prices in Europe were unchanged in the first week of 2019, with many market participants still on holiday and a resulting lack of trading on Wednesday January 2.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained at ?,?635-650 ($728-745) per tonne delivered on Wednesday.Many traders in Europe would not...Read More
Domestic prices for steel beams in Europe were unchanged this week, with the majority of market participants not yet returning to work, sources said on Wednesday January 2.Fastmarkets MB's weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was flat at ?,?620-645 ($711-730) per tonne on January 2.The market was quiet this week with many market participa...Read More
Some flat steel import prices in Saudi Arabia and the United Arab Emirates have gone down over the past week on lower offers, sources said on Wednesday January 2.Demand was subdued because stock levels in the UAE were already high and the market wanted to see how the steel market would move early in 2019, sources told Fastmarkets.UAEChinese offers of hot-rolled coil (HRC) into the UAE were priced...Read More
Import and domestic prices for rebar and billet in the United Arab Emirates were stable this week, with demand remaining poor, sources told Fastmarkets on Wednesday January 2.Domestic rebarLocal rebar producers had announced on December 20 that there would be reduced prices for material to be shipped in January. These prices came into effect at the time of the announcement.The country's largest pr...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were unchanged over the past week amid illiquid spot trading and a lack of fresh offers from mills.Cold-rolled coilFastmarkets MB's weekly export price assessment for Chinese SPCC 1.0mm CRC was $525-535 per tonne fob China on Wednesday January 2, the same as a week earlier. No deals were reported during the past week. Market...Read More