RAPAPORT... A fancy-pink diamond ring by Meister was the top seller at the Bonhams London Jewels sale, garnering GBP 838,750 ($1.1 million).The piece, with a step-cut 3.62-carat center stone and designed in 1968 by Meister, exceeded its high estimate of GBP 750,000 ($989,417) at the November 12 auction, Bonhams said last week. A diamond brooch from the collection of Dame Joan Collins, designe...Read More
RAPAPORT... The Dubai Multi Commodities Centre (DMCC) has launched a representative office in Shenzhen, China, paving the way for tighter business collaborations between the two markets.The office will make it easier for Chinese companies to navigate the process of setting up operations in Dubai, the DMCC said last week. The DMCC established the outpost in partnership with corporate service p...Read More
RAPAPORT... How does the next generation of diamond professionals view the industry? We find out by interviewing two active members of the Young Diamantaires group.Founded in 2016 as an initiative of the World Federation of Diamond Bourses (WFDB), the Young Diamantaires organization has grown and adopted a more structured format. In the latest episode of the Rapaport Diamond Podcast, German j...Read More
(IDEX Online) - Antwerp's rough exports for October were up 82 per cent by carat and 75 per cent by value year-on-year, further fueling hopes of a sustained recovery from the pandemic.Newly-released figures from the Antwerp World Diamond Centre (AWDC) show increases rough imports are not far behind, up 78 per cent by carat and 65 per cent by value.Trade in polished gems, a far smaller sector,...Read More
Fifteen countries signed up to the Regional Comprehensive Economic Partnership at the annual summit of the Association of Southeast Asian Nations (Asean) on Sunday November 15.The Regional Comprehensive Economic Partnership (RCEP) is made up of 10 members of Asean plus Australia, China, Japan, New Zealand and South Korea. Together, the participating nations account for about 30% of global gross do...Read More
(IDEX Online) - Angola's state-owned diamond company is selling polished diamonds and jewelry direct to consumers with the opening of its first store in Luanda, the country's capital.It's a partnership with India-based wholesaler KGK Diamonds, which opened a factory in there last November. The store is at the Hotel InterContinental Luanda Miramar.Eug?? (C)nio Bravo da Rosa, ch...Read More
(IDEX Online) - Surat's annual jewelry event, Sparkle 2020, is to feature lab-grown diamonds for the first time.Organizers Southern Gujarat Chamber of Commerce and Industry (SGCCI) say it's because of the "growing acceptance of lab-grown diamonds in India and abroad".At least 35 lab-grown diamond and jewelry manufacturers have already registered for the B2B expo which runs from 26 to 28...Read More
The International Aluminium Institute (IAI) has launched a roadmap to maximize alternative uses for bauxite residue to significantly reduce the waste material's social, environmental and economic impact, it said.Bauxite residue, also known as bauxite tailings or red mud, is a highly alkaline waste product composed mainly of iron oxide generated in the production of alumina. According to the IAI, b...Read More
The London Metal Exchange three-month copper price rose the most across the complex on Monday November 16 amid news of China's industrial output rising by 6.9% year on year. Copper's three month price rose by 2.4% on Monday morning compared with Friday's 5pm close, reaching $7,142.50 per tonne as of 9am. There was a staggering 16,000 lots traded in the morning session alone, although some analysts...Read More
Deliverable base metals stocks at Shanghai Futures Exchange-approved warehouses exhibited mixed movements in the week to Friday November 13, with lead topping the gains in percentage terms while copper led the declines.SHFE lead stocks increased to 33,957 tonnes as of Friday, up by 7,396 tonnes (27.8%) from 26,561 tonnes a week prior. The largest inflow of the heavy metal this past week occurred a...Read More
A strong recovery in end demand for copper products in the third quarter of 2020 has boosted the copper industry in the United States, though the escalating number of coronavirus cases remains the biggest risk for the financial health of the world's largest economy.The Covid-19 pandemic, which continues to ravage the country, poses unique challenges, but has also opened new avenues for demand grow...Read More
Look beyond market approach to project valuations: van ZylLeadershipPantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRemote Pitram deployment puts miners in the driver's seat Amid Covid ClosuresSPONSOREDmicromineSRA launched a rights issue to raise up to C$30 million at 15c per share. Sandfire has agreed to subscri...Read More
The beginning of registration of hot-rolled flat steel imports from Turkey into the EU will make it possible to "avoid opportunistic import surges ahead of the imposition of later duties," European steel association Eurofer said on Monday November 16.The European Commission (EC) on November 13 made imports of HR flat steel from Turkey subject to registration upon arrival into the EU, allowing Euro...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were flat in the week to Monday November 16 despite higher mill offers for November deliveries, sources have told Fastmarkets.Slow secondary market demand and competition between mills' trading branches and independent trading companies were constraining domestic rebar price growth in the region, sources said.Fastmarket...Read More
Copper moved above $3.218 per lb. to a 29 month high extending an intermediate uptrend. Walmart (WMT), a Dow Jones Industrial Average stock moved above $151.33 to an all-time high extending an intermediate uptrend.Aerospace & Defense ETF (PPA) moved above $64.03 resuming an intermediate uptrend. Pre-opening Comments for Monday November 16thU.S. equity index futures were higher this mornin...Read More
Turkish steel mills remained silent on the first day of the week but news of bookings from late last week has come to light, sources told Fastmarkets on Monday November 16.Turkish steel mills did not enter the market for deep-sea cargoes on Monday, but two cargoes were sold late on the preceding Friday after the Fastmarkets indices had closed for the day.A European cargo was booked by a mill in th...Read More
Turkish domestic auto bundle and shipbreaking scrap prices edged further upward in line with imported scrap values over the past week, sources said on Monday November 16.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,230-2,455 lira ($290-319) per tonne on Monday, narrowing upward from 2,210-2,455 lira per tonne last week.The price increas...Read More
The seaborne premium hard coking coal fob price fell on Monday November 16 amid a weak market, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $100.38 per tonne, down $4.02 per tonne Premium hard coking coal, cfr Jingtang: $154.32 per tonne, up $0.74 per tonneHard coking coal, fob DBCT: $95.80 per tonne, up $0.77 per tonneHard coking coal, cfr Jingtang: $141.68 per...Read More
Seaborne iron ore prices made gains on Monday November 16 amid support from positive data for steel reinforcing bar (rebar), which had increased sales in the spot market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.07 per tonne, up $1.70 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.35 per tonne, up $1.25 per tonne58% Fe fines high-grade premium, cf...Read More
Prices for seaborne iron ore pellets and concentrate strengthened again in the week ended Friday November 13 amid of a recovery in demand ahead of an approaching winter in China and fewer cargoes of the former being supplied to the East Asian country, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $132.50 per tonne, up $4.84 per tonne.65% Fe blast furnace pel...Read More