Rising expectations for Hong Kong show (Feb.26), with hope that Chinese buyers will resume bulk orders following 2018 slowdown.Dealers uncertain about prices. Suppliers taking a lot of goods to the show. Top-makeRapSpec A2+ seeing steady demand and short supply. Rough market cautious aheadof De Beers sight, as manufacturers are squeezed by high rough prices andinflated polished inventory. De Beers...Read More
Suppliers optimistic for Hong Kong show, with signsof improvement in polished trading. Overseas buyers looking for top-make VS-I1goods, with shortages in select categories. Manufacturers maintaining lower production,as inventory of low-quality polished remains high. Tight liquidity due toreduced bank credit, squeezed profit margins and delayed payments from someoverseas clients. Local jewelry mark...Read More
RAPAPORT... A yellow diamond ring that once belonged to the royal familyof Hawaii sold for $519,500 at auction Sunday. The old-mine-cut, 34.28-carat, fancy-light-yellow,VS2-clarity diamond ring, set in platinum and white gold, was the lead item atthe Clars Auction Gallery sale in Oakland, California. It realized $15,155 percarat, according to Rapaport calculations. The piece - with a hi...Read More
Steel billet prices in the Turkish markets have been weakening over the past seven days because of softening demand and the latest downturn in scrap prices, sources said on Thursday February 21.Fastmarkets' weekly price assessment for billet imports into Turkey was $450-473 per tonne cfr on February 21, down from last week's $475-480 per tonne.Only one cargo from the CIS region to Turkey was heard...Read More
RAPAPORT... In a bold and somewhat savvy move back in January 2018, Tyson Foods, one of the largest food-processing companies in the US, took a minority stake in Memphis Meats, a startup in the budding cultured-meat industry. Despite the deal's sleeping-with-the-enemy feel, the investment sparked little controversy, as Tyson was the latest in a line of high-profile investors in the food-tech busin...Read More
The Diamond Producers Association (DPA) announced today the third wave of the Real is Rare, Real is a Diamond campaign. Entitled 'For Me, From Me', the campaign is inspired by the natural diamond industry's strongest growth engine, women self-purchase, which today represents one-third of all diamond jewelry sales in the US, a $43 billion diamond market that grew +4% in 2017, according to De Beers...Read More
Turkish domestic rebar and wire rod prices have continued to weaken due to the sluggish demand in the country, sources said on Thursday February 21.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,100-3,150 ($584-594) per tonne ex-works on February 21, down from last week's TRY3,180-3,250 per tonne.Domestic rebar prices in the Izmir and Karab? 1/4 k regions were TRY3,100-...Read More
Wholesale prices for lab-grown diamonds have fallen by up to 60 percent since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall.De Beers, part of mining group Anglo American, shocked the diamond industry last year when it announced it was reversing a decades-old policy of selling natural diam...Read More
RAPAPORT... De Beers' earnings fell in 2018 due to the costs of new initiatives such asits Lightbox synthetics business.Underlying earnings slid 34% to $349 million, as capital expenditure rose 53% to $417 million for the year, the company reported Thursday. That included outlays related to the launch of De Beers' lab-grown jewelry brand, as well as its Tracr blockchain program, and Gemf...Read More
Canadian miners continued going down the slippery slope in the last three months of 2018 due mostly to weak commodity prices, triggered by a slowdown in China's economy near the end of the year, the latest report by Ernst & Young (EY) reveals.As a result, EY's Canadian Mining Eye index - which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mi...Read More
Following a board review of the company’s diamond assets, Lucapa Diamond Company will prioritise production and cash generation from its two high-value diamond mines, the Lulo alluvial mine, in Angola, and the Mothae kimberlite mine, in Lesotho, to ensure shareholder value is maximised.This entails advancing the year-round Lulo kimberlite exploration programme to identify a possible source o...Read More
De Beers Group's latest course 'Synthetic Diamond Detection', is to be held at the Birmingham Assay Office on Tuesday 26th March 2019. The one-day intensive course has been designed by the De Beers Group Institute of Diamonds, in response to the rise in synthetic diamonds and the risk they pose to the integrity of the jewelry industry. Marion Wilson, Director of AnchorCert Academy, Birmingh...Read More
The Fancy Color Research Foundation (FCRF) contends that within a quarter of a century the majority of the 45 most notable diamond mines operating today will cease to exist. According to the FCRF, diamond prices will rise as supply wanes. The report states that no new 'mega-mine' is expected to be found in the foreseeable future. On the other hand, the world's wealthy population is expected to con...Read More
The Doha Jewellery and Watches Exhibition (DJWE) opened its 16th edition on February 20 at the Doha Exhibition and Convention Center (DECC). Representing the beginning of a new chapter with the 2019 edition, the organizers announced the launch of a new brand identity for the exhibition, including a new brand name: ''Qatar Show.'' The six-day B2C event, held under the auspices of the Qatar National...Read More
RAPAPORT... Lucara Diamond Corp. has unearthed a 223-carat, high-qualitywhite diamond from its Karowe mine in Botswana. "[This year] is off to a great start, with several high-qualitydiamonds in excess of 100 carats having been recovered by mid-February, atestament to the strong, stable operating environment that has prevailed atKarowe since late 2018," Lucara CEO Eira Thomas said Tuesday. Th...Read More
Next week, ten thousands of international gem and jewelry industry buyers will touch down in Hong Kong to take part in the sixth Hong Kong International Diamond, Gem & Pearl Show, opening on February 26, and two days later in the 36th Hong Kong International Jewellery Show. Both exhibitions are organised by the Hong Kong Trade Development Council (HKTDC). The sixth HKTDC Hong Kong Internationa...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 128-carat whitediamond from its Lulo alluvial mine in Angola, the company said Tuesday. The type IIa stone, which it found at the deposit's Mining Block6 region, is the miner's 12th over 100 carats to date. Lucapa also recently unearthed a 7.5-carat, fancy-purple-pink diamond in the same portion of themine, it said. The company will likely s...Read More
The AWDC reported that currently, Mexico mainly imports polished diamonds from the United States. This Royal Mission is therefore an apt opportunity to promote the Antwerp diamond trade in Mexico and to encourage Mexican diamond traders to purchase their diamonds from Antwerp instead. While Mexico imports about $100 million worth of loose polished diamonds annually, Belgium's market share is curre...Read More
Canadian miners continued going down the slippery slope in the last three months of 2018 due mostly to weak commodity prices, triggered by a slowdown in China's economy near the end of the year, the latest report by Ernst & Young (EY) reveals.As a result, EY's Canadian Mining Eye index - which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mi...Read More
Iron ore prices continued to retreat on Thursday February 21, with Chinese steelmakers cautious abouthigh costs.MB 62% Fe Iron Ore Index: $86.68 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.08 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.36 per tonne cfr Qingdao, down $0.74 per tonne. MB 58% Fe Premium Index: $77.23...Read More