RAPAPORT... Pandemic or not, Chow Tai Fook has no intention of slowing its expansion into China, with plans to open approximately 450 stores on the mainland during the current fiscal year, managing director Kent Wong told Rapaport News. A vast majority of those new locations will be in tier-4 and tier-5 cities, which have population sizes of around 200,000 to 300,000, and are growing at a fas...Read More

(IDEX Online) - Alrosa has resumed operations at its International underground mine, a week  after a dozen workers tested positive for COVID-19.The mine (pictured), close to the town of Mirny, in the subarctic Russian republic of Sakha, yields some of the world's highest diamond grades, and produced 2.2 million carats in 2019.All staff have now been tested. Those awaiting results have be...Read More

(IDEX Online) - A 28.86-carat type IIa D-color diamond has sold for $2.1m, a world record high price for an online-only auction.Christie's say the near-flawless, VVS1-clarity emerald-cut stone (pictured) just exceeded a high estimate of $2m, attracting 31 bids during the two-week sale, which ended yesterday.The diamond's estimate in the Jewels Online sale was $1m to $2m."The sale of this...Read More

(IDEX Online) - India's biggest show for the jewelry trade has been postponed from August to January 2021 because of COVID-19.The India International Jewellery Show (IIJS) Premiere typically attracts 40,000 visitors and over 1,300 exhibitors.Organizers GJEPC (Gem and Jewellery Export Promotion Council) are hoping lockdowns and travel restrictions will be over by then.The show, which had been...Read More

(IDEX Online) - Polished diamond prices showed very little movement in June, significantly less than May. There was a scattering of modest increases and decreases among sporadic colors and clarities, but not enough to draw firm conclusions about where the market is heading. Rounds showed marginally more activity than fancies and overall movement was up rather than down, but only jus...Read More

Zinc concentrate treatment charges rose from an 18-month low in June 2020, with market shorts facing less of a rush to cover positions on the spot market.Fastmarkets' price assessment for zinc spot concentrate TC, cif China, was $160-180 per tonne on Friday June 26, up from $155-170 per tonne at the end of May.Spot supply of concentrates remained limited to just a few mines, predominantly in Austr...Read More

The London Metal Exchange three-month copper price was slightly higher at the close on Wednesday July 1, with high turnover and strong demand from Asia keeping price action firmly above nearby support levels, while lead futures lagged behind over the day. LME copper's outright price closed at $6,061 per tonne on Wednesday, climbing from an intraday low of $5,995 per tonne, while daily turnover bre...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 24.Please click...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Capped by oversupplyA lack of a meaningful supply adjustment to the Covid-19 demand hit is keeping the aluminium physical market oversupplied and weighing on prices, limiting the success of more buoyant macro and technical forces on prices. Our premium forecasts are under review in light of threats from the U...Read More

European producers of hot-rolled coil have achieved a transaction price increase supported by the lack of import offers and a degree of demand improvement, sources told Fastmarkets on Wednesday July 1.The definitive decision in the EU's safeguard measures review on June 30 will also support domestic prices, market sources said. The European Commission has decided to replace yearly country-specific...Read More

Domestic prices for steel mesh-quality wire rod in Europe were largely unchanged in most regions over the past week, supported by improving demand, sources told Fastmarkets on Wednesday July 1.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, remained at ?,?420-440 ($472-494) per tonne on Wednesday, stable week on week.The assessment was b...Read More

Domestic steel rebar prices have ticked upward in the south of Europe, supported by improved buying activity, but were steady in the north, sources told Fastmarkets on Wednesday July 1.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?420-435 ($472-488) per tonne on July 1, compared with ?,?410-425 a week earlier.Italian producers i...Read More

The price of steel hollow sections in Europe moved up on Wednesday July 1, following feedstock price rises. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?550-560 ($617-628) per tonne on Wednesday, up from ?,?535-550 per tonne a week earlier. The price rise came after producers of hot-rolled coil, the feedstock material for sections, anno...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company completed a strategic and structural review to ensure it was prepared for the transition into an international, multi-mine producer.Read More

Latin American apparent steel consumption is set to fall by around 17% in 2020 due to the impact of the Covid-19 pandemic on end-user demand, according to calculations made by the region's steel association, Alacero. The automotive industry in particular was significantly affected by restrictions imposed to fight the spread of Covid-19. Auto output fell by more than 90% year on year during Ap...Read More

A summary of the financial results for 2019 for the Czech Republic's largest steelmaker, Trineck?(C) ? 3/4 elez??rny (TRZ).In brief Trineck?(C) ? 3/4 elez??rny generated its lowest annual profit since 2008. Weakening demand from the automotive industry, a toxic combination of rising feedstock prices and deteriorating finished steel prices, a high level of steel imports from third countries, and gl...Read More

The price for steel H-beams in Southern Europe narrowed week on week on Wednesday July 1, despite producers looking to achieve price increases, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?510-550 ($573-618) per tonne on Wednesday, flat week on week.Feedstock prices have remained largely unchanged over the past...Read More

Turkey produced 2.30 million tonnes of crude steel in May 2020, a 25.90% decrease year-on-year, the Turkish Steel Producers' Association (TCUD) said on Wednesday July 1.The country produced 13.5 million tonnes of crude steel in January-May 2020, a 5.6% decline year-on-year, TCUD added.Steel end-product consumption was 1.8 million tonnes in May alone, a 14.10% decrease year-on-year. But in January-...Read More

There are many crosswinds for the markets to contend with this morning, Wednesday July 1, with better manufacturing data in Asia and interest rate cuts in China, but a deteriorating Covid-19 situation - especially in parts of the Americas - and raised geopolitical tension over Hong Kong.* China’s Caixin and Japan’s manufacturing purchasing managers’ indices (PMIs) climbed to 51.2 fr...Read More

CANADA DAY U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade. Index futures recovered following release of the June ADP Private Employment report released at 8:15 AM EDT. Consensus was an increase of 3.000 million versus an upwardly revised gain of 3.065 million in May. Previous May report indicated a drop of 2.760 million. Actual in Jun...Read More