The three-month nickel price on the London Metal Exchange was lower during morning trading on Wednesday January 8, with prices retreating below the $14,000-per-tonne threshold, while further outflows failed to support aluminium's outright price.Nickel's underlying price on the LME was recently seen at $13,845 per tonne, easing from a morning high of $13,935 per tonne.Turnover in LME nickel was hig...Read More

The three-month zinc price on the London Metal Exchange settled at a two-month high at the close of trading on Wednesday January 8, climbing by just under 2% and breaching the $2,400-per-tonne resistance level against the highest daily trading volumes since September 2019.Zinc's outright price on the LME closed at $2,403 per tonne, its highest closing price since November 13, while daily turnover...Read More

Uncertainty was weighing on the CIS export market for steel billet in the week ended Wednesday January 8, with market participants returning from their year-end holidays and waiting for mills to announce offers of February-rolling material.At the same time, there was a degree of pessimism among many customers, because of the lack of demand for finished long steel products.Adding to the negative se...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday January 8 that are worth another look.Escalating tensions between the United States and Iran have not affected appetite in Southeast Asia for Iranian steel products, sources told Fastmarkets.Limited buying interest ahead of national holidays has dragged the Shanghai copper premium to its lowest level in almost three years, whi...Read More

In what some market participants called a short-term move, the nickel briquette premium crept up in the United States on Tuesday January 7, while all other regions had a slow return to business after year-end holidays. Some US sales pushed up the US nickel briquette premium incrementally Europe welcomes a return to contango in the London Metal Exchange nickel forward price spread Shangha...Read More

China's environmental ministry announced on Wednesday January 8 a second round of import quotas for copper, aluminium and ferrous scrap, but the volumes that will be allowed are significantly smaller than in the first tranche.The latest announcement for imports in 2020 made provisions for 26,566 tonnes of copper scrap, 7,544 tonnes of aluminium scrap and 3,180 tonnes of ferrous scrap.But the perio...Read More

Brazil's Atlantic Nickel started producing around three months ahead of schedule, and expectations of achieving full capacity have also been brought forward to the second quarter this year, chief executive officer Paulo Castellari told Fastmarkets in an interview on Tuesday January 7.The company, owned by the Brazilian branch of Appian Capital Advisory, originally forecast nameplate capacity to be...Read More

Vijay Natarajan has become executive vice president of trading at non-ferrous metals company Metal Exchange Corp, effective January 1. He will be responsible for the company's global trading division and will be based at its headquarters in St. Louis, Missouri in the United States. Additionally, Natarajan will oversee Metal Exchange Corp's international footprint,...Read More

Limited buying interest ahead of national holidays has dragged theShanghai copper premium to its lowest level in almost three years, while copper premiums are stable in Europe and the United States with minimal spot activity for the first week of 2020.Limited buying interest ahead of the national holidays has dragged the Shanghai copper premium to its lowest level in almost three years Copper prem...Read More

RAPAPORT... Cartier was not the first to sell natural pearls, but the brand may have the most memorable backstory in relation to them. In 1917, Maisie Plant, wife of businessman Morton F. Plant, fell for a double strand of white natural pearls at the French jeweler. The price? $1 million. At the time, her husband was looking to vacate his 653 Fifth Avenue residence, so he negotiated the excha...Read More

RAPAPORT... Watches of Switzerland has appointed Craig Bolton to the newly created role of executive director of UK operations, as the company looks to grow its business.Bolton is a 15-year veteran of the company, having previously served as executive director for two of its retail brands, Mappin & Webb and Goldsmiths. The group also owns the Watches of Switzerland and Mayors brands. Davi...Read More

Escalated tension between the United States and Iran has not yet had any direct effect on steel export trade from the Middle East country, Fastmarkets has learned. "China and Southeast Asia take the majority of Iranian material, so the situation will largely depend on traders [selling into these markets]," an Iranian industry source said."[The] market just reopened after holidays. We need sev...Read More

RAPAPORT... Signet Jewelers is losing market share to competitors and faces risks from its credit operations, according to an analyst's report that sent the retailer's stock tumbling.Ike Boruchow, senior analyst at Wells Fargo, raised concerns that consumers were moving away from the US's largest diamond retailer due to high prices and a lack of product innovation. He also cited the...Read More

RAPAPORT... A 5.01-carat yellow-diamond ring was the most expensive piece of jewelry purchased on eBay in 2019, selling for $65,950.The piece, which is set on a gold band and flanked by 1-carat side stones, was one of two yellow diamonds that appeared in a list of the five priciest jewelry purchases at the e-commerce giant last year, the company said last week. A princess-cut, 7.31-carat, lig...Read More

RAPAPORT... Pandora's shares rose 12% after the company released preliminary results indicating it would meet its sales outlook for the year.The Danish jeweler expects same-store sales - at branches open for at least a year - to have fallen 4% in the fourth quarter of 2019 and 8% for the full year, it said Monday. The figures are in line with the forecast the company issued at the beginning o...Read More

PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company has reported record production for the three months to December, with 14 007 ct recovered during the quarter.The Mothae operation, in Lesotho, produced 9 837 ct during the quarter, while the Lulo mine, in Angola, produced a further 4 170 ct.AdvertisementLucapa on Monday said that the record results for the December quarter contr...Read More

(IDEX Online) - IDEX Online has launched the 2020 edition of its annual trade fair and guide.The guide provides details regarding a wide range of trade fairs taking place throughout the year. It also provides information relating to De Beers' Sight dates in 2020. Click here to see the 2020 issue of the Trade Fair Guide. Read More

(IDEX Online) - Tiffany & Co. recently unveiled its newly redesigned Shanghai flagship store. At 10,000 square feet, the store has doubled in size and is the largest Tiffany outlet in Asia. The two-story store also houses the Chinese Mainland's first Tiffany Blue Box Cafe, which is located on the upper level. It carries high jewelry designs, classic collections, fashion accessor...Read More

(IDEX Online) - Danish jewelry company Pandora has announced that it will meet its sales forecast for 2019. The company said that based on unaudited financial numbers, its fourth-quarter same-store sales are expected to be down 4 percent. For the full year, it expects to see a decline of 8 percent - in line with expectations. Organic growth is expected to be down 1 percent for Q4 and dow...Read More

RAPAPORT PRESS RELEASE (Revised), January 7, 2020, Las Vegas... Diamond market conditions improved in December as US and Chinese holiday demand helped raise sentiment. Polished prices stabilized and improved for sizes under 1 carat, supported by shortages of G+, VS2+ goods. High-end qualities (F+, VVS+) of 3 carats and larger diamonds remain weak. The RapNet Diamond Index (RAPI?,,?) for 1-car...Read More