RAPAPORT... Australian jeweler Michael Hill reported an improvement in same-store sales during the first fiscal quarter amid a rise in online shopping and an increased desire for branded jewelry.Same-store sales - at branches open more than a year - rose 7% to AUD 116.7 million ($83.7 million) during the three months ending September 27, the company said Tuesday. Group sales slipped 3.6% to AUD 11...Read More
RAPAPORT... De Beers has registered its highest sales total since January as rough demand improved ahead of the fourth-quarter holiday season.The company sold $467 million of rough during its September sales cycle, the eighth of the year - a 57% rise compared with the same period last year, it reported Wednesday. Sales rose 40% versus the seventh cycle.The miner reduced prices of smaller good...Read More
RAPAPORT... Jewelers for Children will distribute $475,000 to its charity partners this year, bringing its total donations to $57.3 million since the organization began in 1999."Serving as board chair through this very challenging year has truly shown me just how beloved Jewelers for Children is in our great industry," Debra Puzio, the chair of Jewelers for Children's board, said Tuesday. "Th...Read More
(IDEX Online) - A British jeweler is being sued over the loss of a $40,000 fancy yellow diamond that fell out of a ring he sold.Philip Lloyd Jewellers, in West Sussex, was accused of failing to secure the stone with reasonable care and skill during a court hearing on Tuesday.Insurance broker Mark Hare, 58, bought the gem as a Christmas gift for his then-girlfriend Olivia Claffey in 2017.She notice...Read More
(IDEX Online) - Indian jewelry chain Tanishq has withdrawn an advert depicting a Muslim-Hindu baby shower after a furious backlash on social media. Critics claimed it glorified what Hindu extremists have labeled "love jihad" - the alleged campaign by Muslim men to seduce and convert Hindu women - and launched a vicious "trolling" campaign online.The 45-second was p...Read More
(IDEX Online) - De Beers today reported $467m sales from its September Sight, further fueling hopes of a sustained recovery from the global pandemic.The provisional figure for cycle 8 is a 36 per cent year-on-year increase compared with the same month last year.It also indicates a significant upwards trend overall as demand returns. By comparison, actual sales for Cycle 7 (August) were $334m; Cycl...Read More
Domestic prices for hot-dipped galvanized coil (HDG) in Europe increased in the week to Wednesday October 14, supported by reduced availability of the material in the spot market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?590-600 ($694-706) per tonne ex-works on October 14, up by ?,?5-10 per tonne from ?,?580-595 per tonne ex...Read More
Iranian export prices for steel billet increased slightly in the week to Wednesday October 14, with traders accepting higher prices in the latest round of bookings.Last week, most Iranian producers finally returned to the market, placing fresh tenders for cargoes to be shipped in October and December. Mills were waiting for China to return from a week-long national holiday to see the market trend....Read More
Key data from Fastmarkets' pricing session on Wednesday October 14 for the daily alumina index.Fastmarkets' alumina index, fob Australia, was calculated at $272.83 per tonne on Wednesday, its highest since September 9. This was up by 3% week-on-week from $264.42 on October 7.Key drivers The latest deal was concluded at $274 per tonne fob Western Australia on Tuesday. The deal was for 30,000 tonnes...Read More
The three-month price of nickel on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 14, with strong producer price index figures from the United States supporting steady buying in the afternoon.Lead futures, however, struggled to close above nearby support levels.Nickel's outright price on the LME closed at $15,341 per tonne on Wednesday afternoon,...Read More
Fastmarkets is updating market participants on its initiative to price the physical low-carbon aluminium market. Due to feedback received already, Fastmarkets has narrowed down the possible options for a pricing mechanism and streamlined the consultation. This update is part of the original consultation that launched on September 1 and is due to close on December 1. Low-carbon differential Fa...Read More
Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals, oil, power & renewables and shipping. Andrea Hotter talks strategy with the man at the helm, CEO Jeremy WeirJeremy Weir's career at Trafigura almost stumbled before it began. The Melbourne, Australia-born geologist-turned-derivatives-trader was heading to meet one of the commodities trading house's founding partners,...Read More
Drill results multiply value options in front of YandalSPONSOREDyandal resourcesTogether, the projects represent initial capital investment of US$3.4 billion, including the $2.Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The union rejected BHP's supposedly final offer in contract negotiations last week, but the mining major agreed to meet again on Tuesday to break the deadlock. A resolution was not forthcoming, so talks were extended by one more day, the union said.If the two sides fail to reach a deal, workers could begin a st...Read More
The Shanghai zinc premium was unchanged in the week to Tuesday October 13 despite rising arbitrage opportunities, while spot interest for both European zinc ingots and secondary lead from Indian buyers bolstered respective premiums.China's return to the market sees arbitrage opportunities emergeIndian lead market gets battery-demand boostEuropean spot demand gathers momentumUnited States lead and...Read More
Copper premiums across Asia, Europe and the United States were unchanged in the week to Tuesday October 13, with market participants turning their attentions to the benchmark negotiations for 2021 supply at next week's annual LME gathering. Rotterdam premiums hold ahead of annual contract talks coming next week. Asia spot market remains weak amid close arbitrage window. Absence of spot...Read More
Brazilian imports of flat and long steel dropped in September, with lower import volumes from China partially compensated for by higher volumes from Russia.Imports of flat-steel products fell 9.9% year on year in September, to 79,715 tonnes from 88,498 tonnes the year before, according to figures released last week by the Brazilian economy ministry.Shipments, however, increased 20% from...Read More
Brazilian steel scrap exports soared in September both year on year and compared with the previous month due to an unusually significant volume shipped to China by a shipyard under bankruptcy protection, according to national ferrous scrap association Inesfa.Exports totaled 97,312 tonnes in September, up by 19.7% from 81,295 tonnes in the same month last year and by 75.7% from 55,377 tonnes in Aug...Read More
Exelon (EXC), an S&P 100 stock moved above $41.54 resuming an intermediate uptrend.Pre-opening Comments for Wednesday October 14thU.S. equity index futures were mixed this morning. S&P 500 futures unchanged in pre-opening trade.Index futures were virtually unchanged following release of the September U.S. Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain...Read More
The price of hollow steel sections in Europe moved up again this week with mills continuing to push for increases, market sources told Fastmarkets on Wednesday October 14.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($706-742) per tonne on Wednesday, up from ?,?590-620 per tonne one week before.The price of hot-rolled coil, the feed...Read More