The seaborne coking coal market regained its downward momentum on Wednesday June 19 with participants mostly fixated on their bearish outlook for prices.A July-loading cargo of branded materials was traded on the Global Coal trading platform at $195 per tonne fob Australia during the day, various sources confirmed.A shipment of premium mid-vol hard coking coal, also scheduled for loading in July,...Read More
The price of rebar produced and delivered in Northern Europe widened upward slightly this week despite the market being largely quiet with many buyers waiting for the renewal of EU import quota balances on July 1, sources told Fastmarkets on Wednesday June 19.From July 1, 2019 until June 30, 2020, 301,538 tonnes of Turkey-origin rebar will be permitted to enter the EU tariff-free. After this quota...Read More
Chinese nickel premiums jumped to record highs, creating expectations that global premiums will follow them higher while metal is drawn to China from Europe. Arbitrage opportunities push up both Chinese nickel premiums European premiums hold up despite some supply being diverted to Asia US premiums steady but briquette business seen as weak Chinese premiums at highest everIn China, the in-warehous...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday June 19 that are worth another look.The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium. Chinese nickel premiums jumped to record highs, creating expectations that global premiums will follow them higher while metal is d...Read More
Prices for spent lead-acid batteries in the United States inched lower over the two weeks to Tuesday June 18, due to oversupply and weak demand at the beginning of the seasonal summer slowdown.Fastmarkets AMM assessed the price for whole lead-acid batteries delivered to smelters at $30-32 per hundredweight on June 18, down by 3.1% from $31-33 per cwt on June 4. This marks the price's lowest s...Read More
Zinc's three-month price on the London Metal Exchange was subdued at the close of trading on Wednesday June 19, drifting below the nearby $2,500-per-tonne support level after steady inflows and dwindling demand continue to pressure the galvanizing metal's outright price.Additionally, the metal's cash/three-month spread remains in a sizable backwardation - recently at $116.50 per tonne - placing th...Read More
RAPAPORT... Transparency is a growing goal for wholesalers, but there'sanother "T" word that may be even more important: trust. In an industry definedby long-abiding relationships, assurances of ethical sourcing depend heavily ona seller's reputation for integrity. Opening up Transparency is now a "definite trend," according to EricMor, president of New York-based wholesaler Abe Mor Diamond Cutter...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
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Comstock Resources today tightened its grip on the Haynesville basin with a US$2.2 billion cash-and-stock deal to buy privately-held Covey Park.Robert Clarke, director, US Lower 48, at global natural resources consultancy Wood Mackenz...Read More
Global tin premiums were flat across the week ending Tuesday June 18, despite easing nearby spreads prompting a slight uptick in spot business at lower premium levels in Europe, while supply concerns and a closed import window capped premium ranges in the United States and Asia.European premiums flat despite emergent downside pressureIn Europe, Fastmarkets assessed the premium for 99.9% standard-g...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
RAPAPORT... A Botswana employers' advocacy group has called out De Beers for failing to providesubstantial opportunities for the country's businesspeople. "The benefits deriving from the diamond industry haveunfortunately not been enjoyed by Batswana entrepreneurs," Gobusamang Keebine,president of Business Botswana, said in a speech during the fifthregional High Level Consult...Read More
An increase in Northern European buyers' spot market activity improved zinc premiums in Europe this week, while the closed import arbitrage window is weighing on zinc premiums in China and the United States' lead and zinc spot markets were quiet. Northern European zinc consumers acquired units from the spot market this week, leading premiums to rebound from record low levels. A major Indian lead...Read More
Shamiso Mtisi, the Zimbabwean lawyer who heads the Kimberley Process (KP) Civil Society Coalition (CSC), who addressed the Opening Session of the Kimberley Process Intersessional Meeting (KPI) in Mumbai, India, emphasized that the discussions on the broadening of the KP scope, meaning the broadening of the term 'conflict diamonds' to included human rights violations, should not raise anx...Read More
The International Colored Gemstone Association (ICA) GemLab Ltd will be taking part 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). Led by company director Omar Wahid Hatta and chief gemmologist Dietmar Schwarz, ICA GemLab will offer its Premium Report at the show, with the express ser...Read More
The Cultured Pearl Association of America (CPAA) announced the opening ff its 10th Annual International Pearl Design Competition (IPDC) today, complete with an exciting collaboration with a prominent retailer to showcase and sell winning designs. The contest is open today through October 4, 2019. The CPAA celebrates pearls of all varieties, so it encourages seasoned and award-winning artists and b...Read More
HRD Antwerp announced its expansion into the UK market with the opening of a new drop-off point in London's Hatton Garden,saying that it is to help combat the proliferation of lab-grown diamonds (LGDs). "The supply of laboratory grown diamonds is ever increasing. As a result, jewelers are unknowingly selling jewelry which features a mix of natural and lab-grown diamonds. HRD Antwerp is pleas...Read More
Sarine Technologies Ltd. has begun offering jewelry suppliers and retailers a "new, simple, automated and extremely cost-effective imaging and visualization service with interactive personalization functionality." The Israeli start-up Verto has developed an innovative imaging solution that generates high quality interactive video displays, derived automatically from but a handful of images capture...Read More
The Gemological Institute of America (GIA) will be taking part 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). GIA will give show attendees the opportunity to see live demonstrations of its newest instruments: The GIA iD100???EUR? ? gem-testing device, the GIA UV Lamp and Viewing Cabin...Read More
WINDHOEK – Five African commercial banks have partnered in a $375-million financing deal to build a new diamond mining vessel for a subsidiary of Anglo American's diamond unit De Beers.Nedbank Namibia, RMB Namibia, Standard Bank, ABSA and Bank Windhoek agreed to provide 80% of the funding for the ship, which will be the world's largest of its type.AdvertisementDebmarine Namibia - a 5...Read More