Europe's anti-dumping duty on imports of wire rod originating from China will expire after October 16, 2020, unless a review is initiated, the European Commission (EC) said on Monday February 3.The EC had maintained a 24% anti-dumping duty that was applied to all imports of Chinese wire rod, except material from Valin Group, on which the rate was 7.9%, following the previous expiry review in Octob...Read More

As international exchanges continue to encourage trade in their ferrous contracts, Fastmarkets asks market experts for their views on progress in steel price risk management over the past year and the outlook for 2020.Speaking with Fastmarkets a year ago, Phillip Price, steel derivatives expert, and since then founder of Pool, said that he had seen a sea change in the steel sector's attitude towar...Read More

Eastern China's rebar prices continued to weaken on Tuesday February 4 due to destocking pressure, though those in the northern region held steady on an inactive market.Eastern China (Shanghai): 3,360-3,400 yuan ($480-486) per tonne, down 40-50 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedMost participants in Shanghai and Beijing were still away from the market due...Read More

Flat steel suppliers to Russia's Central Federal District around Moscow increased offers for material, citing reduced availability, while in the secondary market there were no reports of improved demand, Fastmarkets learned on Monday February 3.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 41,000-42,500 roubles ($643-659) per tonne on Februa...Read More

RAPAPORT... Sales of jewelry and other luxury items in Hong Kong slid in 2019 to their lowest level in 10 years, as social challenges continued to hinder tourism and weaken consumer sentiment. Revenue from jewelry, watches, clocks and other valuable gifts fell 22% to HKD 66.2 billion ($8.52 billion) for the year, the municipality's Census and Statistics Department reported Tuesday. That represents...Read More

RAPAPORT... Gucci has become the latest major brand to skip this year's Baselworld show, citing the new timing of the event as its reason for staying away, according to the fair's organizers.The dates of the 2020 exhibition - April 30 to May 5 - were "too late" for Gucci, a spokesperson for the show's management said Tuesday in an email to Rapaport News. "We very much regret that Gucci will n...Read More

RAPAPORT... Organizers of two upcoming jewelry trade shows in Hong Kong have postponed the events as the coronavirus continues to spread beyond mainland China.The Hong Kong International Diamond, Gem & Pearl Show, which was due to take place from March 2 to 6, and the Hong Kong International Jewellery Show, scheduled for March 4 to 8, will now run from May 18 to 21. They will happen concu...Read More

RAPAPORT... Edward Asscher, president of Royal Asscher Diamond Company, will take over as president of the World Diamond Council (WDC) in June for a two-year term.Asscher, currently vice president of the WDC, will succeed Stephane Fischler, who will exit during the WDC's annual general meeting in the first week of June, ahead of the Kimberley Process (KP) intersessional in Moscow. Asscher previous...Read More

RAPAPORT... Gem Diamonds has recovered a white diamond weighing 183 carats at its Let??eng mine in Lesotho, the first stone over 100 carats the miner has found this year.The company unearthed the type IIa, "exceptional" stone on Monday. On the same day, it also discovered two other large, high-quality diamonds from the deposit, weighing 89 and 70 carats, it said Tuesday.The 183-carat diamond showe...Read More

RAPAPORT PRESS RELEASE, February 4, 2020, Las Vegas... Diamond market sentiment was positive for most of January but weakened as the outbreak of the coronavirus in China resulted in a shutdown of retail stores over the important Chinese New Year period. Prices were supported by shortages, particularly of 0.30- to 0.49-carat, D-F, IF-VVS2 goods, with inventory of fine-cut RapSpec A3+ diamonds...Read More

RAPAPORT... Global gold-jewelry demand dropped 10% year on year in the fourth quarter to its lowest level since 2011 due to economic slowdowns in India and China, the World Gold Council (WGC) reported.Appetite for gold jewelry in India fell 17% for the quarter, as prices of the yellow metal reached record levels in the second half of the year. The domestic slowdown in the country and lower demand...Read More

(IDEX Online) - Gem Diamonds Limited has announced the discovery of an exceptional 183-carat white Type IIa diamond from the Let?... ?eng mine in Lesotho on February 3.The miner also announced that it also recovered two different high quality diamonds, one of 89 carats and the other of 70 carats, from the mine. The Let?... ?eng mine is the highest dollar per carat kimberlite diamond mine in t...Read More

JOHANNESBURG (miningweekly.com) – Despite mining’s contribution to almost every aspect of modern life, the industry is still seen as an industry “that takes more than it gives”, Anglo American CEO Mark Cutifani lamented in his keynote address at this year’s Investing in African Mining Indaba, which is taking place in Cape Town, this week.He highlighted that the mining...Read More

Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.2020 will see lead transition into a market surplus after several years of significant deficit, according to Wood Mackenzie.Despite total exchange stocks of refined metal remaining near historical lows, softening demand has damaged se...Read More

(IDEX Online) - As fears over the spread of the coronavirus mount, show organizers in Hong Kong have announced that some upcoming events have been postponed. The Hong Kong Trade and Development Council (HKTDC) has moved the HKTDC Hong Kong International Diamond, Gem & Pearl Show 2020 (originally scheduled for March 2-6) and the HKTDC Hong Kong International Jewellery Show 2020 (originally...Read More

Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.India's renewables target of 175 GW capacity (100 GW of solar and 75 GW of wind) by 2022 is an ambitious endeavour. Even with significant cost declines, Wood Mackenzie expects about 76% of the target to be met by 2022 and this would s...Read More

(IDEX Online) - There should be lots of happy jewelry recipients this Valentine's Day. That's because U.S. consumers say they plan to spend $5.8 billion on jewelry this year. That's according to research from the National Retail Federation and Prosper Insights & Analytics.Department stores are the most popular Valentine's Day shopping destination, visited by 36 percent. Clo...Read More

RAPAPORT... Mountain Province has decided to delist itself from the Nasdaq stock exchange following six months in which its shares were below the minimum bid price.The company, which is also listed on the Toronto Stock Exchange (TSX), has been out of compliance with Nasdaq since August, when its stock dipped below $1 per share minimum for more than 30 consecutive business days. At the time, Nasdaq...Read More

Turkish deep-sea scrap import prices fell sharply on Tuesday February 4, on news of fresh cargoes from the Baltic Sea and the United States.A steel mill in the Iskenderun region booked a Baltic Sea cargo, sources said, comprising 25,000 tonnes of HMS 1&2 (80:20) at $251 per tonne and 5,000 tonnes of bonus at $261 per tonne cfr. The cargo is scheduled to be shipped in March.Meanwhile, another...Read More

Seaborne coking coal prices were down on Tuesday February 4, with spot trading activity resuming after over a week. Fastmarkets indices Premium hard coking coal, fob DBCT: $147.89 per tonne, down $2.90 per tonne Premium hard coking coal, cfr Jingtang: $160.13 per tonne, down $2.60 per tonne Hard coking coal, fob DBCT: $127.01 per tonne, unchanged Hard coking coal, cfr Jingtang: $140.82 p...Read More