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RAPAPORT... De Beers will allow its sightholders to disclose sourceinformation on diamonds they purchase from the company, after unveiling its "diamonds from DTC" program Monday. "We are proud of where our diamonds are discovered, how werecover them responsibly and the role our activities play in building thrivingcommunities," said De Beers CEO Bruce Cleaver. "By enabling our customers t...Read More

RAPAPORT... Gem Diamonds has unearthed a 134-carat yellow, the second significant colored diamond it has found this year. It discovered the high-quality, type I stone on March 31 at its Let??engmine in Lesotho, the company said Sunday. The last yellow-diamond of that magnitude the miner reported on was a 151.52-carat stone, which it retrieved in June 2017. In March, Gem Diamonds sold a pink...Read More

RAPAPORT... Initiatives in Art and Culture (IAC) will present FerielZerouki with its award for leadership in responsible practice in jewelry. The honor is bestowed annually on members of the jewelryindustry, or part of a jewelry-focused organization, that have made atransformational contribution to ethical sourcing and responsible practice inthe global trade, IAC said last week. Zerouki, De...Read More

Prices for merchant bar quality (MBQ) steel were flat in the United States over the past month amid reports of mostly steady market conditions, while confirmed transactions for Mexican material have caused import prices to dip slightly. Fastmarkets AMM assessed domestic 2- x 2- x 1/4 -inch angle merchant bar at $37.05 per hundredweight ($741 per short ton) fob mill on Friday March 29, unchanged...Read More

Russian state-controlled miner Alrosa, the world's biggest producer of rough diamonds in carat terms, raised $11.8 million in its first New York diamond auction of the year, as it seeks to increase its activity in the United States.Rebecca Foerster, president of Alrosa, North America, said sanctions against some Russian companies did not diminish the appeal of Russian high quality diamonds.Alrosa...Read More

@import url(https://ofc.rapaport.com:449CuteSoft_Client/CuteEditor/Load.ashx?type=style&file=SyntaxHighlighter.css);@import url(styles/editnewscuteeditor.css); RAPAPORT... The Gemological Institute of America (GIA) has updated thelanguage in its lab-grown-diamond certificates to conform to the recent Federal Trade Commission (FTC) guidelines.The grading lab will no longer use the term sy...Read More

(IDEX Online News) - In general, for rounds March was all about reversing the trends of February, when the market dared a little, only to be whistled back in March. Parallel to trends in the previous month, prices of round diamonds under a carat remained rather stable, with a few goods, especially in the higher colors and clarities, losing a few percent. Prices of goods between 80 points and a c...Read More

Plate prices in the United States were steady last week but concerns have grown that they could come under pressure again in future weeks, market participants said.Fastmarkets AMM's price assessment for cut-to-length plate was unchanged at $46 per hundredweight ($920 per short ton) on Friday March 29.Market participants have reported plate prices in a range of $45-57 per cwt.Lead times have s...Read More

RAPAPORT... Eurostar Diamond Traders, one of the biggest names in theAntwerp industry, has entered bankruptcy following a legal battle with itsbanks. The Antwerp Corporate Court ruled Thursday in favor of thatoutcome. Eurostar plans to appeal the decision, according to the company'schairman and founder, Kaushik Mehta. "For Kaushik Mehta and Eurostar, this is a verydisappointing day, which he...Read More

Macau's Executive Council announced during a press conference at Government Headquarters earlier this month that its government has drafted and submitted a bill that, when approved by lawmakers, would open the way for Macau to join the Kimberley Process Certification Scheme (KPCS). Once accepted, Macau could then import and export rough diamonds. According to a government spokesperson, the bi...Read More

Aim-listed Firestone Diamonds has determined that the proposed Cut 3 life-of-mine expansion at its 75%-owned Liqhobong mine, in Lesotho, is not currently economically viable.The Cut 3 expansion project would have increased the life of the mine by three years and result in 40% more carats compared with the current eight-year mine life.AdvertisementHowever, the company this week said that, at the cu...Read More

The European Commission (EC) has approved the acquisition of two Italian steel service centers, affiliated with Italian steelmaker Ilva, by ArcelorMittal and Italian company Coils Lamiere Nastri (CLN).The service centers in Legarno and Paderno Dugnano, Italy, were among the Ilva assets acquired by ArcelorMittal, the EC said on Friday March 29. It approved the acquisition under EU Merger Regulation...Read More

Representatives of the Antwerp World Diamond Centre (AWDC) accompanied King Filip of Belgium on a state visit to South Korea. During the state visit, Golden Dew, one of Korea's largest jewelry brands, launched three special cuts it developed together with Antwerp diamond companies. During the visit in March, three special diamond cuts were presented to the general public in the presence of the Kin...Read More

A sale of CIS-origin slab to Italy was heard agreed last week at a price lower than in other recent deals, sending the CIS export slab price assessment downward on Monday April 1.A cargo containing 25,000-30,000 tonnes of Ukrainian slab was reported sold to Italy at $510-512 per tonne cfr, equivalent to around $490 per tonne fob Black Sea. But market participants had expected such a development.Th...Read More

Turkey's flat steel exports increased by 38.12% year on year in February 2019 amid increased demand in Europe, according to the latest figures from the Turkish Statistical Institute (TUIK).Yet current demand for flat steel is weak in the country's key export markets, so export volumes may decrease in the next few months, Turkish market participants told Fastmarkets.Turkish producers have been offe...Read More

Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsWith more than US$100 million spent on exploration since the acquisition, the company has doubled the resource base at the mine.Read More

Prices for shipbreaing scrap prices in Turkey have gone down slightly this week with one steel mill reducing its buying prices, but auto bundle scrap prices remained stable over the past week, sources said on Monday April 1.Fastmarkets' weekly price assessment for Turkish domestic melting scrap from shipbreaking was $320-325 per tonne on April 1, narrowing downward from the $320-330 per tonne deli...Read More

Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsThe two companies entered into a partnership for the project in December 2015 following a bilateral government agreement. The deposit has a resource of 982 million tonnes grading 0.89% copper and 0.04% molybdenum.A ceremony for the creation of a limited company for the JV was attended by Ecua...Read More

Turkish steel mills continued to hold back from the deep-sea scrap markets to watch which way the market moves after the mayoral elections held across the country yesterday, sources said on Monday April 1.The main opposition Republican People's Party (CHP) has claimed victories in the coastal Aegean and Mediterranean provinces, as well as in major cities including Istanbul. It also claims to have...Read More