Global physical nickel spot markets have been quiet over the past week while participants focus on negotiating long-term supply deals. Closed arbitrage window keeps Chinese market steady; long-term negotiations to start in November European premiums unchanged while participants start to look at next year's supply contracts US nickel premiums static while participants focus on long-term deals ...Read More
RAPAPORT... Rosy Blue and Vijay Gold Designs have challenged SearsHoldings Corp.'s store-liquidation plans, claiming that some of the assets itwants to sell off are consignment goods.Sears filed for Chapter 11 bankruptcy protection earlierthis month, saying it would close 142 stores and sell off their inventories.However, those proposals do not protect suppliers that have consigned productsto...Read More
RAPAPORT... Louis Vuitton has appointed Catherine Lacaze as its directorfor jewelry and watches, it said Monday. Lacaze was most recently vice president of marketing forTiffany & Co., where she worked with Francesca Amfitheatrof, who alsojoined Louis Vuitton in April as artistic director for the same division. Lacaze - who has previously worked at Harry Winston andCartier - started at Louis V...Read More
(Adds company news items, futures)Oct 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 69 points higher on Wednesday, according to financial bookmakers, with futures up 0.4 percent ahead of the cash market open.* BARCLAYS: Barclays BARC.L reported a profit before tax of 3.1 billion pounds ($4.02 billion) for the third quarter, as its under-pressure investment banking division booked...Read More
RAPAPORT... Petra Diamonds' revenue jumped in the first fiscal quarter dueto demand for higher-quality goods. Revenue surged 22% year on year to $80.2 million for thethree months ending September 30, the miner reported Monday. Sales volumeincreased 7% to 626,541 carats, with the average selling price up 15% to $128per carat, even as overall rough prices weakened. Prices for the quarter fell...Read More
RAPAPORT... In the latest Rapaport Diamond Podcast, the editorial teamdiscusses the bankruptcy of retail giant Sears Holdings Corp., and what the jewelryindustry has to fear.The holiday season is also approaching, presentingopportunities for those well prepared. We look at what jewelers need to do toattract business, and interview Aleah Arundale, founder of successful Facebookgroup Jewelers H...Read More
Prices for hollow steel sections in the domestic European market have remained stable this week but some market participants were preparing to adjust their prices downward after a decline in feedstock prices, Fastmarkets heard on Wednesday October 24.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained stable week on week at...Read More
RAPAPORT... A brand-management company that owns the Marilyn Monroeestate has bought the trademark rights to "Diamonds Are a Girl's Best Friend"at an auction of assets belonging to Nirav Modi's US businesses.ABG Intermediate Holdings, which trades as Authentic BrandsGroup (ABG), acquired the intellectual property related to the actress and singer'sfamous song title for $50,000 last month, accordin...Read More
RAPAPORT... De Beers' production fell 5% to 8.7 million carats in thethird quarter due to planned reductions in mining volumes in Botswana and SouthAfrica. The miner processed lower-grade ore at its Jwaneng mine inBotswana, resulting in overall output for Debswana - its joint venture with thenation's government - declining 6% to 5.7 million carats. It also carried out a scheduled shutdown of...Read More
(IDEX Online) - The 38th World Diamond Congress, the biennial meeting of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA), began on Tuesday in Mumbai with the WFDB holding important Committee meetings. The meetings of the WFDB's Judicial, Trade & Business, Promotion, and Executive Committees heard updates regarding their...Read More
RAPAPORT... The World Jewellery Confederation (CIBJO) has proposedit work with other industry groups to consult with the US Federal TradeCommission (FTC) over its fiercely debated diamond terminology.Industry leaders attending the October 15 to 17CIBJO Congress in Bogot??, Colombia, called for the sector to relay a clearer message toconsumers when marketing diamonds, whether natural or laboratory-...Read More
(IDEX Online) - The International Gemological Institute (IGI) has opened a new facility in Mumbai at the Bharat Diamond Bourse. Located at Tower FW in the exchange, the space will serve as an extension of IGI's existing laboratory services, operating as a fully-fledged sorting and screening facility. Streamlining the evaluation process, trade personnel will also be able to drop their parce...Read More
The latest news and price moves to start the Asian day on Thursday October 25.Base metal prices on the London Metal Exchange were collectively lower at the close of trading on Wednesday October 24, pressured by continued strength in the United States' dollar index while the three-month aluminium price broke below $2,000 per tonne for the first time since April. Read more in our live futu...Read More
The shutdown of Brazilian alumina refinery Alunorte for a few days in October could bring its production volume down by 20,000-30,000 tonnes in the fourth quarter, according to Eivind Kallevik, chief financial officer of the unit's owner, Norsk Hydro.Hydro produced 821,000 tonnes of alumina during the third quarter of 2018. If output goes down by as much as 30,000 tonnes, that would mean a reducti...Read More
Lead and zinc premiums were roughly steady across the markets in Asia, Europe and the United States in the week ended Tuesday October 23, but buying interest in Asia and Europe was limited due to the closed import arbitrage window into China and a strong backwardation on the London Metal Exchange.Meanwhile, the US premium was expected to rise, underpinned by higher freight rates and solid demand....Read More
Comex copper prices bounced-back Wednesday morning in the US amid falling inventories and signs of strong demand.The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.30 cents to $2.7610 per lb.LME copper stocks continue to trend lower because tighter spreads have attract limited inflows - stocks total 152,225 tonnes, down...Read More
Despite beating average Wall Street analyst forecasts for third-quarter earnings per share and revenue, no material news on progress with the Indonesian government regarding its long-term Grasbe...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe production guidance was narrowed to 705,000-725,000 tonnes from the previous 705-740,000t, while the net cash cost guidance was maintained at US$1.35 per pound as unit costs improved on high...Read More
The copper cathode premium in Italy has shot to two-and-a-half-year highs after vessels from Peru and Chile were delayed.Meanwhile, disruptions at copper smelters globally are supporting spot cathode premiums in China despite a backwardation in the LME forward curve and import losses making trading less profitable. Cif Leghorn premiums rise to highest in 30 months Shanghai Cif premiums down $3 per...Read More
On a flight to Brasilia last year, Jair Bolsonaro's carry-on bag contained little more than two small chunks of metal mined in Brazil: One was graphene, used in solar cells; the other niobium, which strengthens steel.At the time, he said he hoped to display them in a TV interview, evidence of the promise mining holds for Brazil's struggling economy. While some of the former Army captain's ideas ha...Read More