Turkish billet prices have weakened over the past week in line with the falling imported scrap values, source said on Thursday June 20.The price of steel billet exported from the Commonwealth of Independent States (CIS) to Turkey slipped this week. Mills in the CIS region were offering billet to Turkey at around $435-440 per tonne cfr, while mills in Turkey were bidding at around $420 per tonne an...Read More
Turkish domestic rebar and wire rod prices have weakened in line with the falling imported scrap values and limited demand over the past week, sources said on Thursday June 20.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,160-3,190 ($542-547) per tonne ex-works, down from last week's TRY3,200-3,220 per tonne,...Read More
Sentiment weak as polished prices continue tosoften. Hong Kong fair opens with hope for better trading than Las Vegas shows.Outlook for Chinese local demand improves as luxury consumers shift to domesticspending, since weak yuan and trade war have reduced tourist shopping. Jewelersavoiding inventory buildup. Rough market cautious despite reported 4% to8% price cut on small rough during low-value D...Read More
Polished trading relatively quiet for this time ofthe year. Some companies reducing prices to boost activity and liquidity.Manufacturers cutting their rough intake, as they're maintaining low factoryproduction levels. Few overseas buyers in the market as focus shifts to HongKong for the show. Locals looking for 1 ct. and larger stones, as small sizesremain weak. RoundRead More
The Turkish long steel export market continued to suffer this week as the continuing lack of interest from the United States increased the downward pressure on prices, sources said on Thursday June 20.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $445-460 per tonne fob on an actual-weight basis, unchanged week on week.Steel mills in the country tried to keep their o...Read More
RAPAPORT... Gem Diamonds has sold its Ghaghoo mine in Botswana for $5.4million, following a two-year search for a buyer. Pro Civil, a Botswana-based company, will acquire the asset, which has been on care and maintenance since March 2017. The company will also take on environmental responsibility for the deposit, Gem Diamonds said Thursday. "This sale is in line with our strategic objective t...Read More
RAPAPORT... Christie's Maharajas & Mughal Magnificence sale broughtin more than $109 million, the highest total for any auction featuring Indianart. The top lot was a Belle ??poque brooch, created by Cartier in 1912, which fetched $10.6 million at the New York auction on Wednesday. The piece features a number of diamonds, including a pearbrilliant-cut, 34.08-carat, E-color, VS1-clari...Read More
RAPAPORT... Tse Sui Luen (TSL) will further broaden its Chinese networkover the next few years, as it continues to see solid growth in the country. The Hong Kong-based jewelry retailer will open an additional 100 stores inmainland China in the coming two years, following the launch of 55 new locationsduring the past year, it said Wednesday. The move comes after sales in thecountry accounted f...Read More
RAPAPORT... Jewelry is one of three categories in the luxury sectorexpected to see solid growth in 2019, as domestic consumption in China and theUS increases, according to Bain & Company. Leather goods and handbags will also see sustained growththroughout the year, while watches will begin to show recovery in specificregions, including Europe. However, Hong Kong, the largest consumer mark...Read More
China's hot-rolled coil prices were stable on Thursday June 20 amid a pick-up in sentiment following futures gains and more expensive iron ore,even though downstream demand has not shown any significant improvement.DomesticEastern China (Shanghai): 3,770-3,780 yuan ($546-547) per tonne, unchangedNorthern China (Tianjin): 3,760-3,780 yuan per tonne, widening upward 10 yuan per tonnePrices...Read More
RAPAPORT... Royal Asscher has launched two new patented diamond cuts internationally,in honor of the brand's 165th anniversary, it said Monday. The Royal Asscher Oval and the Royal Asscher Cushion jointhe Netherlands-based jeweler's other two cuts, the Royal Asscher RoundBrilliant and the Royal Asscher, which has become a widely used generic diamondcut. Royal Asscher sells its diamond-jewelr...Read More
At the event, 126 rough diamonds weighing 2,090 carats were auctioned. The lot included a large stone of 63.8 carats that originates from the deposits of Almazy Anabara JSC. The auction's total sales sum came to $7.6 million. This time, more than 100 companies participated in the auction. Buyers arrived in Dubai from Belgium, Hong Kong, India, Israel, Russia, the United Arab Emirates and the...Read More
Gem Diamonds announced it has sold all of its share capital in Gem Diamonds Botswana Proprietary Limited (GDB) to Pro Civil, a company registered in Botswana. GDB's chief is the Ghaghoo diamond mine in Botswana which has been on care and maintenance since March 2017, and which is wholly owned by GDB. GDB reported a loss of US$ 4.9 million in 2018. Its assets were valued at US$ 3.9 million. U...Read More
The Bharat Diamond Bourse (BDB) in Mumbai issued a statement, welcoming the announcement made by the Gem and Jewellery Export Promotion Council (GJEPC) that the umbrella organization of Indian diamond, gem and jewelry industry and trade would be holding a separate Buyer-Seller meeting in in parallel to the third edition of the Bharat Diamond Week (BDW) which takes place at the bourse from 14...Read More
US condition-based monitoring device supplier SpotSee is in the process of obtaining certification in Africa for its Wi-Fi radio, which enables its OpsWatch vibration monitoring system to stream condition-based data to central operations through a Web-hosted platform.The system can detect changes in vibration at an extremely low frequency (one hertz). As a result, SpotSee says, it is better able t...Read More
De Beers Group Institute of Diamonds will be partnering with the International Institute of Gemology in India (IIG) to deliver diamond education courses throughout India. The IIG has been operating for more than 50 years and is recognized as a leader in gemology and in diamond and jewelry education in India. The partnership will initially launch with a focus on the De Beers Group online Diamond F...Read More
The Swiss Gemmological Institute (SSEF) will be participating in the Gemmological Laboratories Zone at the June Hong Kong Jewellery & Gem Fair, June 20 to 23, at the Hong Kong Convention & Exhibition Centre (HKCEC). At the June Fair, SSEF will present GemTrack???EUR? ?, a service linking cut stones to the rough stones from which they originated using gemological techniques. According to th...Read More
The immense pressure to achieve production targets occasionally means that maintenance practices are difficult to implement in the mining industry and are often time based. Therefore, mines are looking for solutions to improve maintenance management, says Finnish industrial machinery company Metso Africa market area sales support VP Scott Pringle. “Our clients are looking for innovative ways...Read More
RAPAPORT...BlueRock Diamonds, which owns the Kareevlei mine in South Africa, has sold a 24.98-carat rough diamond for $190,000. The diamond is the largest the company has found from Kareeevlei, signalling potential for other high-value recoveries, chairman Mike Houston said last week. "We continue to make excellent progress implementing our development strategy to increase production and are clear...Read More
A total of 77 cooperatives in Angola have been authorised to explore for and mine diamonds, stated an official announcement at the end of last month. The authorisations were issued by the State-owned Endiama diamond mining company. The information was released by ‘Operation Transparency’ Forward Command spokesperson, Commissioner António José Bernardo. Operation Transpar...Read More