The latest forecast from Fastmarkets' team of analysts is ready to view.As we enter the summer season across the northern hemisphere, almost half a year has passed since the Covid-19 pandemic began to seriously affect Europe and the United States.One would not really be able to tell that such a dramatic event had occurred by looking at stainless steel prices, however, because they are more or less...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are relatively stable this month, showing little change since our previous tracker. Such stability masks growing issues for stainless steelmakers, however, who are increasingly unable to pass on rising costs to consumers and are, thus, facing cuts to their margins.In general, this is due to an excess of...Read More
RAPAPORT... Titan Company, India's largest jewelry retailer, gave an optimistic outlook for the upcoming Diwali holiday season after resurgent gold demand boosted revenue during the second fiscal quarter.Consumer sentiment improved in the three months ending September 30 as India's Covid-19 restrictions eased and stores reopened, Titan reported last week. The sales decline was gentler than in...Read More
RAPAPORT... Lucapa Diamond Company's output rose in the third quarter as higher ore grades at its Lulo mine compensated for a temporary shutdown of the Angola site.Production from the deposit increased 23% to 9,387 carats during the three months ending September 30, a record quarterly total for the company, despite a pause in operations resulting from the coronavirus pandemic, it said last week. T...Read More
RAPAPORT... Hong Kong's diamond trade continued to decline in the third quarter, though the downturn was gentler than during the first half of the year. Polished imports fell 32% year on year to $2.69 billion in the three months ending September 30, compared with 54% in the first quarter and 45% in the second, according to calculations based on recent data from the Diamond Federation of Hong...Read More
RAPAPORT... Dominion Diamond Mines has asked a Canadian court to prevent Rio Tinto from selling its portion of rough diamonds from the Diavik joint venture, calling the sale unfair and unreasonable.Rio Tinto-owned Diavik Diamond Mines, Inc.'s (DDMI) proposed sales plan would not assure maximum value from the rough, given it sells via long-term contracts, which generally offer buyers discounts, Dom...Read More
RAPAPORT... The proportion of consumers who have heard about lab-grown diamonds has risen to 80% in 2020, up from 58% two years ago, an MVI Marketing survey found.Meanwhile, 69% of shoppers knew of specific brands that use lab-grown diamonds, compared to 49% in 2018. "Lab-grown diamond is a high-margin category that consumers are reacting to positively," MVI CEO Marty Hurwitz said last week. "Now...Read More
RAPAPORT... Jewelers Mutual Group has agreed to acquire Wexler Insurance Agency/IJB, a specialist in risk management for the jewelry industry."Combining Wexler's unique products, services and carrier alliances with the investments in data and technology being made by Jewelers Mutual will create a competitive advantage that will expand our footprint and diversify our operational profile," said...Read More
RAPAPORT... The Indian diamond industry has urged the government to cut taxes and lift red tape ahead of the country's annual Union Budget, arguing that exports could double under the right conditions.The Gem & Jewellery Export Promotion Council (GJEPC) has called for import duty on polished stones to drop to 2.5% from the current 7.5%, it said Thursday. The council also wants India to pe...Read More
(IDEX Online) - Insurers Jewelers Mutual is set to acquire Wexler Insurance Agency, one of the world's largest privately-owned independent insurance agencies for the jewelry trade. The move will bring together two of the most recognized names in the USA's jewelry insurance industry Jewelers Mutual Group announced on Friday that it has signed a definitive agreement to acquire We...Read More
(IDEX Online) - A British "green" millionaire is poised to produce the world's first "zero-impact diamonds".Dale Vince says his Sky Diamonds company will capture carbon dioxide directly from the atmosphere to produce 200 carats of environmentally-friendly CVD (carbon vapor deposition) lab-growns a month, scaling up to 1,000 next year.He'll use wind and solar electricity, and water collec...Read More
(IDEX Online) - October saw a blitz of price rises among smaller fancies (0.23-0.44cts) and some positive movement among 0.45-0.69cts. After a quiet September there was more movement overall, characterized by a rise in demand for these smaller, less costly stones. The economy has started its recovery, but there's still less of an appetite for larger diamonds.HIGHLIGHTSRounds0.3...Read More
As the United States posted its highest number of weekly coronavirus cases since the start of the pandemic and Americans headed to the ballot box in record numbers to cast their votes early for the country's next president, China's top leaders gathered for four days behind closed doors to craft their fourteenth Five Year Plan for 2021-2025.The Five Year Plan has been a fixture of Chinese rule sinc...Read More
Short-term valuation analysis implies major gold stocks still have another 10-20% downside.Read full newsRead More
I previously wrote that practically nothing happened on the gold market , which is bearish since gold should be rallying or trading at higher levels,Read full newsRead More
Canada's Agnico Eagle Mines reported a better-than-expected quarterly profit on Wednesday, benefiting from a surge in gold prices and sales volume, and raised its capex forecast for the year as it spends on several sites to boost production.Read full newsRead More
The Canadian stock market has always been a home for reliable, safe dividend stocks. In the last few years, tech and other sectors have seen a flurry of evolving companies, bringing investors high-growth opportunities as well. Here are four high-growth TSX stocks in Canada.WELL Health TechnologiesOne of the Canadian companies that have seen solid growth in the telehealth space recently is WELL Hea...Read More
TSX stocks at large tumbled almost 5% amid a notable surge in volatility last month. Interestingly, some of the top Canadian stocks stood strong and surged more than 30% in October. Could they remain firm for the rest of the year?Chorus AviationWhile almost the entire global aviation space is struggling amid the pandemic, Chorus Aviation (TSX:CHR) stock surged almost 35% last week. The charter fli...Read More
Are you worried about a renewed European economic lockdown or the uncertainties that the U.S. presidential election will bring?If you’re finding it difficult to navigate your stock portfolio in today’s environment, you can consider three top stocks to buy in November 2020.Gold stocksGold stocks are the place to invest in during times of uncertainty and, of course, times of money printi...Read More
Nov 02, 2020 Guest(s): Tavi Costa Portfolio Manager, Crescat Capital Over-extended equities valuations, excellent fundamentals and balance sheets for miners, and the volatility that election results would bring to stocks are contributing factors to the following three trade ideas: long mining stocks, short broad equity indices, and short emerging market currencies, said Tavi Costa, portfolio man...Read More