RAPAPORT... Retail sales in Hong Kongare set to fall by 5% in 2019, with the decline expected to be even sharper inthe luxury-goods market, which includes jewelry. The new estimate, publishedlast week by PricewaterhouseCoopers (PwC), is a downgrade on its previousforecast. The advisory firm had anticipated that Hong Kong's retail sales woulddip by 3%. Reasons cited for the lower forecastinclude th...Read More
Prices for rebar produced and delivered in Southern Europe widened downwards this week as domestic mills aimed to maintain current price levels, sources told Fastmarkets on Wednesday July 3.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?485-500 ($548-565) per tonne delivered on Wednesday, down ?,?5 per tonne week on week on the lower end from ?,?490-500 per...Read More
New patents that aim to eliminate fraud, improve traceability and revive the availability of finance in the diamond industry have been filed by Scarselli Diamonds, a polished diamond traders and jewelry consignee to the trade, and Benoit J. P. Flammang, Founder and Chief Executive Officer of Beninvest & Associates. The patents center on DiamTek, a solution using permanent nano-laser tag...Read More
RAPAPORT... The Gemological Instituteof America (GIA) will offer remote learning to students in China, expanding its collaborationwith ShanghaiJiao Tong University (SJTU). The GIA's distance-educationprograms will allow participants to access equipment and gemstones in self-studystudent workrooms at SJTU, enabling them to complete the courses' practicalaspects. "Education is thecornerstone of GIA'...Read More
The weekly price assessment for rebar produced and delivered in Northern Europe softened this week amid reluctant buying activity, sources told Fastmarkets on Wednesday July 3.Market participants held back from buying while they waited to see the effects on pricing of an influx of imports, following the start of the new annual quota period for the EU steel import safeguards on July 1.Fastmarkets'...Read More
"I walked into the AGTA office twenty-two years ago and Mary Lou had already been with AGTA for nearly a decade. I quickly learned that Mary Lou was truly the "face" of AGTA to many, if not all of our members. And she was universally adored. That adoration stems from the person she is. A consummate professional, a vigorous champion of our members and the association, and honestly the most kin...Read More
PNG Jewellers have partnered with Forevermark, the diamond brand from the De Beers Group, to retail Forevermark diamonds across all their stores in India. The synergy of these two brands has brought about an ideal collaboration over the past few years to offer hallmark diamond jewelry. To highlight this partnership, PNG Jewellers have created an exclusive line of jewelry called the 'Fab5...Read More
The blogsite "Big Think" reported that scientists from the Yokohama National University in Japan had succeeded to "teleport" quantum information within a diamond. Their study is an important step in the field of quantum information technology. Hideo Kosaka, the Yokohama National University researcher who led the study, explained that the goal was to get data where it doesn't normally go. "Qua...Read More
Top US jewelry etailer Blue Nile has blacklisted Zimbabwean diamonds over reports of human rights abuses in Manicaland's Marange district. On its website Blue Nile says: "Blue Nile is committed to ensuring that the highest ethical standards are observed when sourcing our diamonds and jewelry. Because of the reported human rights abuses in Zimbabwe's Marange diamond district, Blue Nile wi...Read More
The International Diamond Manufacturers Association (IDMA) and the World Federation of Diamond Bourses have agreed for the 39th World Diamond Congress to take place in Hong Kong, November 2-5, 2020. "We are very pleased that we have been able to close the dates for the World Diamond Congress which takes place every two years," said IDMA President Ronnie VanderLinden and WFDB President Ernie B...Read More
The steel mills in Turkey have continued to book deep-sea scrap cargoes for August shipments to replenish their stocks, sources said on Wednesday July 3.A steel mill in the Marmara region booked a US cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $299 per tonne, 5,000 tonnes of shredded at $304 per tonne and 5,000 tonnes of bonus at $309 per tonne cfr.This compared with the...Read More
Greenland shines brightly in the rare earth spotlightSPONSOREDgreenland minerals'When top miners commit to an aspiration, that does trickle down'SPONSOREDdeloitteBlack Rock readies for race to graphite productionSPONSOREDblack rock miningE25 powering towards Butcherbird PFSSPONSOREDelement 25Management says the company is gaining critical momentum as it navigates the strategic shift from r...Read More
Seaborne iron ore prices were down on Wednesday July 3, even as futures on the Dalian Commodity Exchange closed higher after hitting a five-year peak a day earlier. MB 62% Fe Iron Ore Index: $124.75 per tonne cfr China, down $1.02 per tonneMB 62% Fe Iron Ore Index-Low Alumina: $125.83 per tonne cfr China, down $0.41 per tonneMB 58% Fe Premium Index: $114.86 per tonne cfr China, down $0.18 per tonn...Read More
The seaborne coking coal market continued to weaken on Wednesday July 3 with fob Australia offers falling further while Chinese participants took a step back in anticipation of the outcome of a couple of tenders.A cargo of unbranded materials was offered at $185 per tonne fob Australia on the Global Coal trading platform during the day, down $1 per tonne from a day earlier. A shipment of branded m...Read More
China will allow 15,000 tonnes of ferrous scrap to be imported in 2019, according to a notice seen by Fastmarkets MB this week.The China Solid Waste & Chemicals Management Center listed nine companies in Zhejiang province that have been awarded quotas to import ferrous scrap through ports in the cities of Ningbo and Shanghai. The companies, listed below, can use their quotas in the third and fourt...Read More
Michael Overlander will leave his role as chief executive officer at Sucden Financial and move to become non-executive Chairman of the company, effective of January 1, 2020. Current deputy CEO Marc Bailey will take over the role of CEO from Overlander, Sucden confirmed on July 3. Overlander has worked for the Sucden Group since 1973 and was appointed to the board of Sucden Financial in 1984. He ha...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:15 AM and 8:30 AM EDT. Consensus for June ADP Private Employment was 140,000 versus 27,000 in May. Actual was 102,000 .Consensus for May U.S. Trade Deficit was $53.5 billion versus upwardly revised $51.2 billion...Read More
Exporters of Chinese hot-rolled coil pushed ahead with higher prices on Wednesday July 3 on expectations of a turnaround of the domestic market, notwithstanding the day's losses.DomesticEastern China (Shanghai): 3,890-3,900 yuan ($566-568) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, down 30 yuan per tonneSpot prices fell further after mills lowered their...Read More
The following Fastmarkets minor metals prices changed on Wednesday July 3:Minor metalsAntimony MB free market regulus, $/tonne: $6,100-6,250 per tonne from $6,180-6,400Antimony MMTA standard grade II, $/tonne: $6,000-6,200 per tonne from $6,100-6,350Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 37,500-39,000 yuan per tonne from 38,000-39,000 yuanBismuth...Read More
Key data from the Fastmarkets' Wednesday July 3 pricing session in Europe:Key drivers The European ferro-titanium price fell for the sixth consecutive week after six weeks of stability.Demand has been quiet while the market moves into the seasonal summer slowdown, although some European suppliers say they are resisting going as low as the prices currently being offered from Russia. The initial bou...Read More