The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More

RAPAPORT... Shipments of polished diamonds out of India increased year on year in May, albeit at a gentler pace than in April, according to data the country's Gem & Jewellery Export Promotion Council (GJEPC) released this week. Rough imports jumped more than sevenfold, reflecting a comparison with the peak of the coronavirus crisis in 2020.India Trade Data for May 2021  Read More

RAPAPORT... The luxury jewelry and watch industries are set to recover gradually over the next four years, led by strong growth among Chinese consumers, according to McKinsey and Company."We expect demand to increase from younger consumers as well as in domestic markets amid continuing restrictions on international travel and the rise of domestic duty-free zones in China," McKinsey said this week...Read More

RAPAPORT... US retail sales fell slightly in May amid supply-chain holdups that limited purchasing, the National Retail Federation (NRF) said.Revenue slipped 1.3% month on month but rose 28% compared to the same period last year, reflecting coronavirus-related store closures during May 2020, according to data the US Census Bureau reported Tuesday. By contrast, April saw a 0.9% month-on-month incre...Read More

RAPAPORT... Industry groups in India and Israel have expressed optimism that their members will go to the JCK Las Vegas show, even as the travel situation remains uncertain.India's Gem & Jewellery Export Promotion Council (GJEPC) and the Israel Diamond Institute (IDI) are both organizing pavilions at the fair, they said this week. JCK said it welcomed international visitors who were permi...Read More

(IDEX Online) - An exceptional 39.34-carat blue rough diamond could ultimately fetch $64m as a polished gem.The Type IIb diamond (pictured), recovered at the Cullinan mine, South Africa, is set to yield over $1m per rough carat when it's sold at special tender next month by Petra Diamonds.Comparisons with another diamond from the same mine, The Blue Moon of Josephine, suggest it could fetch a...Read More

(IDEX Online) - Insurers Jewelers Mutual Group has acquired Gem + Jewel, the e-commerce platform for independent jewelers and designers, for an undisclosed sum.Gem + Jewel was launched by industry veteran Shelia Bayes, based in Lexington, Kentucky, USA, in 2018.Jewelers Mutual say the acquisition will allow jewelers to expand their customer base more efficiently and grow their e-commerce businesse...Read More

(IDEX Online) - A major watch retailer has ditched the terms "men's" or "women's" and now describes watches as small, medium or large.Watchfinder & Co, Britain's largest seller of second-hand watches, says gender terms are "redundant, restrictive and outdated".It says it is reflecting a trend set by Kayne West, Jay-Z, Victoria Beckham and other celebrities to wear watches design...Read More

Steel wire rod prices in Northern Europe increased as expected in the week to Wednesday June 16, mainly propelled by the continuing tightness of supply, but aggravated by restricted access to imports due to the trade safeguard measures currently in place, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?860-90...Read More

Prices for steel hollow sections in Europe remained flat on Wednesday June 16 with feedstock costs remaining stable, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,320-1,340 ($1,600-1,625) per tonne on June 16, unchanged week on week."Stocks are diminishing rapidly, and new rollings are hard to come by with hot-roll...Read More

Price movements on the London Metal Exchange futures complex were mixed at the close of trading on Wednesday June 16, but were within the range of its Tuesday prices ahead of the US Federal Reserve's statement later in the day.Copper's three-month price, which fell by 4% on Tuesday to $9,569.50 per tonne, strengthened by 1% on Wednesday at 5pm to $9,667 per tonne. Its intraday low of $9,489 per to...Read More

Sources expect the Chinese government to sell its copper inventory at a slight discount to end consumers to combat the recent price spike in base metals, sources told Fastmarkets.As a country that is usually highly secretive about its buying and selling intentions China made a high-profile announcement to sell its copper, aluminium and zinc reserves in batches to participants in the downstream sec...Read More

Copper premiums traded as high as 8.5 cents per lb in the United States on Tuesday June 15, which remains the strongest physical market for cathodes, given continued weakness in China and an expected summer slowdown in Europe. US premium range widens on diverging market outlooks  China premiums drop further amid government announcement it will sell some strategic reserves  European mark...Read More

A correction has been issued for this article. The...Read More

Premiums for spot zinc material were stable in the week to June 15, with the US premium for lead holding at an all-time high. Zinc premiums in Europe are at their highest since 2019 due to low availability of spot material, but may drop in summer 2021. US lead premiums continue at their peak of 14.50-16.50 cents on tight supply and logistics issues, with the latter also affecting the European zinc...Read More

A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2021.In briefEarnings increased in line with increased production of flat steel, specifically hot-rolled coil, and exports, the company said in a release to London Stock Exchange on Wednesday June 16."With respect to flat steel, a significant development has occurred in t...Read More

Proudfoot Global CEO Pamela Hackett talks 'wrestling chaosSPONSOREDproudfootAntipa set to soar amid Winu and Havieron potentialSPONSOREDantipa mineralsAzure's Andover nickel shapes as a Pilbara NovaSPONSOREDazure mineralsMcDermitt puts Jindalee at top of US lithium stock-pileSPONSOREDjindalee resourcesThe exploration company announced the acquisition of Adeline four weeks ago from royalty...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe "relatively modest" site activities were set to include site care and maintenance, continuing select environmental baseline studies, permit compliance and collecting data for ongoing engineering studies."While our appeal of the November 2020 federal Record of Decision for Alaska's Pebble project progresse...Read More

Proudfoot Global CEO Pamela Hackett talks 'wrestling chaosSPONSOREDproudfootAntipa set to soar amid Winu and Havieron potentialSPONSOREDantipa mineralsAzure's Andover nickel shapes as a Pilbara NovaSPONSOREDazure mineralsMcDermitt puts Jindalee at top of US lithium stock-pileSPONSOREDjindalee resourcesThe election result could prove to be a turning point in Peru's trajectory of 20-years of...Read More

Increased feedstock costs as well as solid demand pushed the rebar price in Southern Europe up further in the week to Wednesday June 16. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe at ?,?760-785 ($921-952) per tonne on Wednesday, up from ?,?740-760 per tonne last week. The price has been rising steadily since early May when it st...Read More