RAPAPORT... Stuller, one of the largest US jewelry wholesalers, was the victim of a cyberattack on Saturday morning, resulting in delays to orders at a critical point in the holiday season.Customers may experience "several circumstances that are non-Stuller-like" this week following the hack, including delayed shipments and intermittent phone interruptions, president Danny Clark said Monday i...Read More

RAPAPORT... Sales of jewelry and other luxury items in Hong Kong slid in October, even as an upturn in the health situation eased the market slowdown.Revenue from jewelry, watches, clocks and other valuable gifts fell 27% year on year to HKD 2.88 billion ($370.9 million) for the month. While the drop was significant, it was less sharp than the declines seen in the past few months, Hong Kong's Cens...Read More

RAPAPORT... The Dubai Multi Commodities Centre (DMCC) has launched a representative outpost in the Israel Diamond Exchange (IDE), paving the way for a deeper trading relationship between the two markets.The DMCC, a state-funded trading hub that houses a diamond exchange, officially opened the office on Monday in a ceremony in Ramat Gan. The location will help Israeli businesses across all ind...Read More

Domestic hot-rolled coil prices in Northern Europe went up day on day on Tuesday December 1, due to a shortage of material, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?563.75 ($671.26) per tonne on Tuesday, up by ?,?2.60 per tonne from ?,?561.15 per tonne on November 30.The index was up by ?,?18.70 per tonne week o...Read More

RAPAPORT PRESS RELEASE, December 1, 2020, Las Vegas... Diamond market sentiment improved in November amid rising expectations for the holiday season. A recovery in China and robust sales during India's Diwali festival also lifted the mood. Polished prices are stable for 1-carat and larger goods. The RapNet Diamond Index (RAPI?,,?) for 1-carat stones edged up 0.5% in November. RapNet Diamond Ind...Read More

RAPAPORT... Columbia Gem House will hold an auction of pieces by 25 designers to raise awareness of human exploitation across the gem and jewelry industry.The company launched an invitational design challenge among the designers to create jewelry using stones it provided as part of its Ethical in Action initiative. Columbia Gem House, which deals in fair trade and responsibly sourced colored gemst...Read More

(IDEX Online) - Customs officers in Hong Kong made their biggest diamond seizure for three years at a crossing point into mainland China.The driver of a truck destined for Shenzhen was found to have 160 gems worth $840,000 stuffed into a trouser pocket. Criminals try to smuggle diamonds from Hong Kong to factories across the border to avoid paying import taxes of up to 20 per cent.In this cas...Read More

Joel Adams has joined the copper team at Trafigura, Fastmarkets understands.Adams had worked at Glencore in Switzerland since 2010, most recently as a senior trader for refined...Read More

(IDEX Online) - Dubai's free trade zone yesterday opened an office at the Israel Diamond Exchange, in a landmark move to promote commerce and cooperation.Officials from the Dubai Multi-Commodities Centre (DMCC) and the Dubai Diamond Exchange flew in on the first regularly scheduled flight from the UAE to Israel.It follows the US-brokered Abraham Accords, normalizing relations between the coun...Read More

Goldman Sachs has predicted that copper's remarkable price surge is set to continue next year and could break records because of resurgent demand and capped supplies.Analysts led by Nicholas Snowdon project a 12-month price target of $9,500 per tonne next year, up from a $7,500 per tonne projection previously, with a 2021 average price forecast of $8,625 per tonne."This current price strength is n...Read More

The London Metal Exchange three-month aluminium, copper and nickel prices extended their rallies on Tuesday December 1, setting new year-to-date highs in the final month of 2020 with a low dollar index continuing to provide tailwinds to the prices. Copper's three-month price rose for a sixth straight day on Tuesday at 5pm, up by 1.5% to $7,694.50 per tonne from Monday's closing price of $7,580 per...Read More

(IDEX Online) - Fancy cuts suffered in November with price drops across colors and clarities among smaller stones, in marked contrast to September's blitz of increases. Decreases also dominated, though less severely, in larger goods.  Rounds fared better, with a more or less even mix of ups and downs.HIGHLIGHTED CHANGESRounds0.90-0.99 ct. E / IF-VVS1 +2.5%, F / VS1-2 ...Read More

RAPAPORT... De Beers has pledged to provide the origin and impact of all its diamonds by 2030 as part of a plethora of sustainability goals it has set out for the coming decade.By 2025, it will "scale" programs that help identify the provenance of De Beers-mined diamonds at retail, the company said Monday. By 2030, it will record most of its annual production - by value - on its Tracr blockch...Read More

Canada's Lundin Mining anticipates higher copper and zinc output over the next three years, with growth expected at its operations in Chile (Candelaria), Brazil (Chapada) and Portugal (Neves-Corvo) in particular. In its three-year production outlook, published on Monday November 30, Lundin's full-year 2021 copper production guidance was set at 275,000-299,000 tonnes, jumping to 281,000-305,00...Read More

Negotiations for first quarter 2021 supplies of aluminium to main Japanese ports (MJP) have begun and the quarterly premium is expected to settle significantly higher than 2020 levels.The first deal was concluded on November 30, at a premium of $125 per tonne cif MJP, for 6,000-9,000 tonnes of aluminium ingot in total for January-March delivery. While there are also offers out in the market from t...Read More

Fastmarkets is proposing to launch low-carbon aluminium differentials to its existing European P1020 and value-added product (VAP) premium contracts in $ per tonne to meet market demand for a low-carbon aluminium pricing mechanism. The proposed differentials come after the completion of a two-month consultation and are the result of growing demand for price discovery for low-carbon aluminium...Read More

Copper and aluminium continued their uptrend on Tuesday December 1 and taking the complex on a morning of gains while the LME continues to react positively to Chinese and Eastern Asian economic data and a weaker US dollar index.Copper's three month price was up to $7,673 per tonne at 9:15am on Tuesday, a 1.2% increase from Monday's 5pm closing price of $7,580 per tonne. The volumes of copper...Read More

Brazilian steelmaker Gerdau has concluded its acquisition of Sider??rgica Latino-Americana (Silat), a long steel producer located in the northeastern state of Cear??, after gaining approval from anti-trust regulator Cade, the company said on Tuesday December 1.Silat has capacity for 600,000 tonnes per year of long steel products, mainly rebar and wire rod. Gerdau had first reached an agreement in...Read More

Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia have increased over the past week because of globally strong demand, although this was moderated in the UAE because of a holiday, sources said on November 30 and December 1.The UAE has a national holiday on December 1-3, so the number of working days were limited in the country this week.UAEOffer prices for hot-rolled coil...Read More

Steel billet and rebar prices in the United Arab Emirates increased over the week to November 30 while demand was strong, sources told Fastmarkets.Domestic rebarThe country's steel producers were offering rebar at 1,984-1,985 dirhams ($540) per tonne ex-works orders to be produced in December, but only few producers had allocation for December production.Deals were heard made at around 1,950...Read More