The flat-rolled steel import market has remained largely quiet, with US buyers showing little appetite for foreign material given falling domestic prices. Still, prices for most flat-rolled imports moved lower in the two weeks to Wednesday June 12, with certain countries trying to match US prices in order to fill their quota volumes under Section 232."Imports for the moment are dead," one Midwest...Read More
Sentiment in the Commonwealth of Independent States (CIS) export billet market deteriorated in the second half of this week, following the drop in import scrap prices in Turkey and a lack of interest from the customers' side."Everyone was expecting huge sales after [the observance of the Islamic holy month of] Ramadan, but there have not been any sales over the past 10 days," an international trad...Read More
Disappointing Las Vegas showsfailed to add value for diamond dealers. Jewelry wholesalers did better,reflecting steady US market. Diamantaires focused on showcasing tech ratherthan diamonds; innovations included improved traceability programs, online salesplatforms and better inventory management. Brands pushing bridal as averageengagement-ring price continues to decline. Small De Beers June sight...Read More
Domestic long steel prices in Turkey have gone down over the past seven days, due to weak demand and falling imported scrap costs, sources said on Thursday June 13.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,200-3,220 ($551-554) per tonne ex-works on Thursday, down from last week's TRY3,330-3,400 per tonne.The domestic rebar price in the Izmir region was TRY3,220-3,2...Read More
Weak sentiment, withmanufacturers under pressure due to sluggish polished demand and tight profitmargins. Factories operating at reduced capacity, and some manufacturersslashing salaries of polished workers. Fewer foreign buyers in Mumbai after LasVegas shows. Steady orders for 0.30 to 0.99 ct., G-J, VS-SI diamonds, butprices continue to soften. Concern that rising demand for synthetics iscannibal...Read More
Turkish rebar and wire rod prices have gone down in line with the decline in imported scrap values, while demand has also been limited over the past week, sources said on Thursday June 13.The country's steel producers reduced their rebar offers to $460-470 per tonne fob on an actual weight basis, from the $480-490 per tonne offers heard before the Eid al-Fitr religious holiday last week.But the hi...Read More
RAPAPORT... Fresh off the boat from Las Vegas, and battling some serious jetlag, Rapaport news editor Avi Krawitz and publisher John Costello pick out their key takeaways and favorite moments from the JCK show. Image: Botswana President Mokgweetsi Masisi addresses the industry, visitor traffic at the show, and engagement rings were on display. (JCK Events)Read More
RAPAPORT... A Belle ??poque diamond ring sold for nearly 10 times itshigh estimate at Christie's London auction Wednesday. The piece, which was made around 1900 and features rose,single and old-cut diamonds, fetched GBP 112,500 ($143,000) against a highvaluation of GBP 12,000 ($15,200) at the Important Jewels auction. A circular-cut, 10.05-carat, E-color, VVS1-clarity, type IIadiamond ring so...Read More
The domestic price for hot-rolled coil (HRC) in the south of Europe has picked up over the past week, supported by production cuts, market sources told Fastmarkets on Thursday June 13.Steel mills in the region continued with their attempts to raise prices further, while bigger Italian buyers returned to purchasing imported material, according to market participants.Fastmarkets' weekly price assess...Read More
RAPAPORT... As rain fell for about five minutes on the typically sunbaked Las Vegas strip on the opening day of the JCK show, one couldn't help but sense things might be a bit different this year. Was the unusual weather a sign that diamond dealers were in for similar positive surprises on the trading floor? After all, they had endured difficult market conditions in the past 12 months and cou...Read More
RAPAPORT... The community of Fandehun is not used to pomp and ceremony.The modest village in the heart of Sierra Leone's Kono District has beensustained by diamond mining for over 50 years but lacks the basics many takefor granted - notably, safe drinking water. Women, and often children, walkmiles to fetch water from a neighboring village, and they tend to use the samesource for all their ne...Read More
In a blog toward the upcoming Intersessional of the Kimberley Process in Mumbai, World Diamond Council (WDC) president Stephane Fischler expressed his concern that the "stakes are not equally high along the value chain. While in many of the mining regions and in a number of the processing centers diamonds are a primary source of income and community development, in the countries where polished dia...Read More
Alrosa, the world's leading diamond miner in volume, held an exclusive tender of polished diamonds in Israel. The tendered diamonds were all cut and polished by Alrosa's own manufacturing plants that operate under the supervision of the company's cutting division, DIAMONDS ALROSA, which also organized the tender. In Israel, the company sold 14 polished diamonds at a total weight of...Read More
GJEPC Chairman Pramod Agrawal spoke at the opening of the India Silver & Fashion Jewellery Buyer Seller Meet (BSM), in the pink city of Jaipur in Rajasthan, addressing some of India's gem and jewelry most pressing issues . He reported that the GJEPC had been talking with the Indian government to address major banking issues affecting the gem and jewelry industry. Among the topics raised...Read More
RAPAPORT... Diamonds with proven ethical sourcing should sell for a higher price than others, participants in Rapaport's annual town hall meeting in Las Vegas concluded. "The biggest challenge for sourcing ethical diamonds is whether consumers are willing to pay extra for them," stressed one of the participants in the discussion that took place during last week's JCK show. "I believe there is...Read More
While Stornoway Diamond Corp continues with a strategic review aimed at ensuring the long-term viability of its Renard mine, in Quebec, the company has received financial backing from its secured lenders and key stakeholders.Under the terms of the bridge financing agreement, Diaquem, an affiliate of Investissement Québec, has agreed to advance an estimated C$11.7-million by way of access to...Read More
Brazilian miner Vale intends to start production of iron ore using dry processing at some of the sites that were closed following the failure of a tailings dam at the C??rrego do Feij??o mine in January.This will potentially add 30 million tonnes per year of iron ore to the company's annual output, according to several reports from investment banks that were released after a meeting with company e...Read More
Seaborne iron ore prices jumped above $110 per tonne cfr on Thursday June 13 - their highest level in more than five years - driven by persistent bullishness, sources told Fastmarkets.MB 62% Fe Iron Ore Index: $110.16 per tonne cfr Qingdao, up $3.56 per tonne. MB 62% Fe Pilbara Blend Fines Index: $108.96 per tonne cfr Qingdao, up $3.56 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $114.50 per t...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at $114.50 per tonne cfr China,...Read More
The gloomy sentiment in the seaborne coking coal market showed no signs of abating on Thursday June 13 in the absence of a clear trend for prices.A July-loading cargo of branded materials was traded at $193.50 per tonne fob Australia on trading platform Global Coal during the day, according to various sources.This is down $3.50 per tonne compared with a transaction involving the same brand of mate...Read More