RAPAPORT... Sales at Chow Tai Fook's mainland China stores grew in the third quarter amid a significant expansion of the jeweler's network in the country. Total retail sales climbed 17% year on year in China for the three months ending December 31, while same-store sales - at locations open for more than a year - rose 2%. Chow Tai Fook added a net 279 points of sale in the country d...Read More
RAPAPORT... US diamond shipments fell in November, according to government data. Polished imports declined19% as lower volumes outweighed an increase in the average price. US Trade Data for November 2019Read More
Sentiment in the global long steel market has become more positive "especially after the announcement that a trade deal between the [United States] and China will be signed," the International Rebar Producers & Exporters Association (Irepas) said last week."[But] we have to keep in mind the possibility that any trade deal may prove to be elusive," the association added in its January 2020 Short Ra...Read More
China may continue importing steel billet after the Chinese New Year holiday (January 25-30) due to the expected pick-up in seasonal downstream demand and prices post-holiday, market sources told Fastmarkets.China was not heard to have imported any steel billet in January due to the holiday lull in the domestic markets. Quiet JanuaryCurrent billet import offers are around $450 per tonne cfr China...Read More
(IDEX Online) - Alrosa has announced that for December 2019, it sold $363.8 million worth of rough and polished diamonds (+11% year-over-year). Rough diamond sales by value amounted to $352.1 million, with polished diamond sales totaling $11.6 million.The company's total rough and polished diamond sales for 2019 amounted to $3.338 billion. During the year, Alrosa's total rough diamonds s...Read More
(IDEX Online) - CIBJO, the World Jewellery Confederation, is holding a seminar at the upcoming Vicenzaoro trade fair that will provide practical guidance and viable solutions for SMEs operating in the international jewelry sector. The "Does Size Matter?" seminar will outline the requirements for responsible sourcing, supply chain integrity and environmental sustainability and will present the...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 117-carat, gem-quality diamond from its Lulo alluvial mine in Angola.The stone is the miner's 14th over 100 carats from Lulo to date, and its first in that size category this year, it said Thursday. Lucapa found the stone in mining block 19, located between its high-value mining block 6 and mining block 8 portions of the deposit. That area wa...Read More
(IDEX Online) - The Perth Mint has released the "Jewelled Tiger," the third release from its range of diamond-studded coins showcasing mythical and real animals from Asia. The tiger is pav?? (C) set with almost three carats of fancy vivid intense pink diamonds from the Argyle diamond mine.The coin is made from 10oz of 99.99% pure gold. The tiger, which has two vibrant green Columbian Muso Emeralds...Read More
(IDEX Online) - The Bharat Diamond Bourse (BDB) has announced it will x-ray all diamond parcels at the customs area of the bourse. This move will prevent any illegal cargo being added to diamond parcels and comes in response to the discovery of an electronic item in a parcel of diamonds. In this instance, a logistics company took the from the precious cargo customs clearance centre (PCCCC) at...Read More
A number of factors came together in the second half of 2019 to create a situation of high volatility in the market for pig iron exports from the Commonwealth of Independent States (CIS), which covers almost two-thirds of global exports.On one hand, weaker prices for finished steel products and scrap put pressure on the pig iron market, while on the other hand suppliers redirected pig iron away fr...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesThe court analysed three rulings issued in 2019 and concluded there was no clear and express prohibition in the country's constitution against undertaking popular votes about mining, that Ecuador'sRead More
Ferrous scrap prices in most global markets dipped on weaker demand during the week ended Friday January 10, but the Indian market remained strong.Turkish market dips on fewer trades United States prices unchanged Limited buying sees Vietnam prices drop Taiwan prices down on weaker demand Indian prices continue to increase TurkeyPrices for ferrous scrap into Turkey fell this week, with only o...Read More
Sentiment in the Turkish domestic scrap market turned negative over the past week due to weakening local finished long steel prices, sources told Fastmarkets on Monday January 13.Domestic long steel prices fell slightly due to the recent strengthening of the Turkish lira against the US dollar.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic,...Read More
Seaborne iron ore prices rose on Monday January 13 amid concerns that shipments from Australia would be disrupted by another cyclone. 62% Fe fines, cfr Qingdao: $95.93 per tonne, up $2.01 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $94.97 per tonne, up $2.01 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $96.20 per tonne, up $1.17 per tonne. 58% Fe fines high-premium, cfr Qingdao: $81.1...Read More
Operations at Australia's Curragh coal mine have been suspended following a fatal accident over the weekend, the miner said on Monday January 13. Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.26 per tonne, up $1.73 per tonnePremium hard coking coal, cfr Jingtang: $160.87 per tonne, up $2.77 per tonne Hard coking coal, fob DBCT: $125.01 per tonne, up $2.68 per tonneHard...Read More
China's domestic hot-rolled coil market remained subdued on Monday January 13, although a weakening dollar appeared to give some support to export prices.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($561-562) per tonne, narrowed by 10 yuan per tonne on both endsNorthern China (Tangshan): 3,600 yuan per tonne, down 20 yuan per tonneSources in both eastern and northern China said that trading...Read More
Eastern China's rebar prices fell further on Monday January 13 on softening demand, though those in the northern region held up amid a lack of selling pressure.Eastern China (Shanghai): 3,650-3,680 yuan ($527-532) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,540-3,560 yuan per tonne, unchangedDemand continued to weaken during the day with less than two weeks to go before the start...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Lululemon added $5.77 to $240.61 after the company raised its fourth quarter earnings and revenue guidance.Goldman Sachs gained $1.29 to $243.40 after JMP Securities upgraded the stock to Outperform from Market Perform. General Motors (GM $34.65) is expected to open higher after announci...Read More
Silicon metal prices in the United States' spot market resumed their downward trend this month due to weak spot demand, with buyers working through annually contracted material priced even lower than spot silicon.Fastmarkets' monthly assessment of the price for silicon, ddp US, was at $0.91-0.94 per lb on Friday January 10, down from $0.92-0.95 per lb one month earlier and off from $1.16...Read More
In recent decades, the Fed has engaged in a series of policy interventions and market manipulations that have paradoxically left it more powerful even as those interventions left a trail of crashes, collapses and calamities.This contradiction between Fed omnipotence and Fed incompetence is coming to a head. The economy has been trapped in a prolonged period of subtrend growth. I've referred to it...Read More