RAPAPORT... LVMH has shaken up Tiffany & Co.'s senior management after the French luxury group finally completed its acquisition of the iconic US jewelry brand.Anthony Ledru, previously executive vice president for global commercial activities at Louis Vuitton, will succeed Alessandro Bogliolo immediately as Tiffany's CEO, LVMH said Thursday. Ledru is returning to Tiffany, where he was se...Read More

RAPAPORT... E-commerce spending in the US grew to a record high during the holiday season, with jewelry boasting a strong performance, according to Adobe Analytics.Revenues for the category rose 66% in November and December compared to the same period of 2019, Adobe said Wednesday. Total online spending soared 32% to $188.2 billion. That figure was just shy of the 33% increase to $189 billion Adob...Read More

Turkish steelmakers continued to book deep-sea scrap cargoes for February and March shipment at firm prices, sources said on Thursday January 7.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $480 per tonne, 22,000 tonnes of shredded and 10,000 tonnes of bonus at $490 per tonne cfr.And a steel mill in the Izmir region booked a Baltic Sea cargo a...Read More

(IDEX Online) - The luxury Japanese jeweler Mikimoto has been singled out for criticism by the New York-based NGO Human Rights Watch.   It claims the company, best known for its cultured pearls, put up a "wall of silence" when asked how it avoided abuses in the gold and diamond supply chains.   Fourteen other well-known jewelry brands in the US, Europe, and Asia were more forthcoming and...Read More

(IDEX Online) - A new smartphone app can count a collection of the tiniest gems almost instantly.The diamond and jewelry wholesaler Terra Cor, based in New York, is branching into tech and has launched image-based gem counting software that can count sizes down to .005 ct. (-2) stones. It uses a neural network - a series of algorithms - to count the gems in a high-quality photograph and sends...Read More

(IDEX Online) - A son of the LVMH billionaire Bernard Arnault will reportedly take a key management role at Tiffany & Co.Alexandre Arnault, aged 28, is currently CEO of the German luxury suitcase brand Rimowa, which is part of the LVMH empire. Two brothers and a sister also run LVMH companies.His appointment, and that of Anthony Ledru, a top Louis Vuitton executive to another top position at T...Read More

Robust export demand for brass and copper scrap is weighing on the domestic prices of scrap metal in the United States, with brass scrap prices reaching record highs in the first week of the New Year."We have never been busier, and I have never seen prices of copper and brass scrap like this," a brass ingot maker said. "For the first time, we are paying more for brass scrap for melting into ingots...Read More

The blockade at the Las Bambas copper mine in Peru has been partially ended on a temporary basis pending a dialogue between local community members and mining company MMG, Fastmarkets learned on Thursday January 7. But the path to a resolution remains uncertain, a source with direct knowledge of the matter said. Meanwhile, transport of copper concentrate is still minimal because it will take time...Read More

The three-month nickel price on the London Metals Exchange crossed $18,000 per tonne on the morning of Thursday January 7 and copper continued to stride above $8,000 per tonne in a broadly positive morning for the complex. Nickel's price touched $18,190 per tonne during early trading, the first time the metal has crossed $18,000 per tonne since September 13, 2019, and a 2.3% gain on Wednesday's 5p...Read More

Markets remained upbeat on the morning of Thursday January 7 despite the outbreak of violence in Washington, DC, with nickel joining copper and tin in setting fresh new multi-month highs but gold turning lower.Asian-Pacific equities generally upbeat, along with pre-market western equity index futures as the US Democrats win the Senate US 10-year treasury yields continue to rise Base metals Th...Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.With a focus on copper and gold, Mundoro enters the new year with a spring in its step after clinching an additional exploration partnership with Vale Canada. That brings the number of partnered exploration licences with Vale to six in total.Many of Mundoro's assets are in the Tethyan Belt's Timok region in Ser...Read More

China Copper's raw materials director Feng Mingrui will be the next group leader of the country's top copper smelters after a tie vote at a recent meeting, sources told Fastmarkets.Feng, who previously worked at Daye Nonferrous and Trafigura, received the same number of votes as Jinchuan Group's Yang Xiangbin at a meeting of the China Smelters Purchase Team (CSPT) in late December.The CSPT eventua...Read More

Bardoc eyes long-term growth in prime goldfields locationSPONSOREDbardoc goldDrill results multiply value options in front of YandalSPONSOREDyandal resources'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningDecade of performance: Pitram delivers diamond standard for Argyle diamond mineSPONSOREDmicromineLong staunchly opposed to the solution-mining copper devel...Read More

China's stainless steel prices increased in the past week on gains in the nickel market, though trading activity fell as a result of the increases.The three-month nickel contract on the London Metal Exchange ended the official session on Wednesday January 6 at $17,828 per tonne, up by $990 per tonne from $16,838 per tonne a week earlier. DomesticStainless steel cold-rolled coil 2mm grade 304 domes...Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.2030 will be a key year with several companies targeting significant reductions over the next decade.Read More

Prices for imported hot-rolled coil in the United States climbed to their highest in more than 12 years amid a lack of offers; meanwhile, prices for imported cold-rolled coil and hot-dipped galvanized steel remained flat, and imported plate logged its third consecutive price rise.There have been few import offers for hot-rolled coil, and market participants were concerned that prices might decline...Read More

Steel reinforcing bar spot prices in the United States continue their scrap-driven ascent, according to market participants.Fastmarkets assessed the price of steel reinforcing bar (rebar), fob mill US, at $37.75 per hundredweight ($755 per short ton) on Wednesday January 6, up by 2% from the previous assessment of $37 per cwt. Domestic rebar prices are closing in on $38 per cwt, a level which has...Read More

The provisional anti-dumping duties imposed on imports of Turkish hot-rolled coil by the European Commission are neither reasonable nor fair, Turkish steel exporters told Fastmarkets on Thursday January 7.The EC has set provisional duties at 4.8-7.6% on HRC imports originating from Turkey, with effect from January 6."The findings of the anti-dumping case are not reasonable and fair," Ugur Dalbeler...Read More

Domestic long steel prices in Turkey have increased over the past week thanks to rising scrap costs, but demand is weak because local buyers are struggling with the higher prices, sources told Fastmarkets on Thursday January 7.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 5,500-5,700 lira ($750-777) per tonne on Thursday, widening up from th...Read More

Despite violence in the United States’ capital city, the markets remained upbeat with nickel this morning, Thursday January 7, joining copper and tin to set fresh new multi-month highs, but gold prices have turned lower.* Asian-Pacific equities generally upbeat, along with pre-market western equity index futures as the US Democrats win the Senate* US 10-year treasury yields continue to rise B...Read More