Turkish rebar and wire rod prices have continued higher over the past week due to a weakening lira against the dollar, while demand for the materials has also been improving, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,180-3,230 lira ($517-525) per tonne on Thursday February 27, up from the 3,150-3,190 lira per tonne last week.The...Read More

The discounts for brass mill No1 copper and for brass ingot makers' light copper scrap tightened in the week to Wednesday February 26, moving in tandem with the falling Comex copper price, but increased export demand supported most brass scrap tags.Some copper scrap discounts tightened as the Comex copper price softened in the wake of the novel coronavirus (2019-nCoV) spreading outside China.The m...Read More

Growing Chinese copper output and an imbalance in trade terms between China and the west have led to a rising need for the European copper industry to guard its interests, panelists at Fastmarkets' International Copper Conference in Amsterdam said on Thursday February 27."It's difficult to say [European copper market participants] don't have to worry," chief metal officer Marco Calamia from one of...Read More

Base metals prices on the London Metal Exchange were down across the board during morning trading on Thursday February 27 due to continued lackluster demand.The novel coronavirus infection (2019-nCoV) continues to impact demand for base metals. The virus has now spread to Europe, with Italy being hit hardest. There have now been more than 400 cases in the Southern European country, affecting truck...Read More

The Italian government could step in to support industrial companies including copper fabricators if the novel coronavirus situation in the country worsens, KME's chief metal officer told delegates at Fastmarkets' International Copper Conference in Amsterdam on Thursday February 27. Marco Calamia joined the conference's opening panel via video conference after the KME grounded staff members follow...Read More

The novel coronavirus (2019-nCoV) outbreak in South Korea, the largest export market for Chinese stainless steel, is likely to apply additional pressure on stainless steel prices in Asia, sources told Fastmarkets this week. Although the actual impact will be determined by the severity of the measures that the South Korean government undertakes, buyers are likely to exercise more caution while they...Read More

The majority of base metals prices on the Shanghai Futures Exchange were down at the close of morning trading on Thursday February 27, with the complex still pressured by lingering concerns of the rapid spread of the novel coronavirus (2019-nCoV) outside of China.Investors remain focused on the spread of the virus, which causes the disease Covid-19, while the number of infected continues to grow a...Read More

Extended lead times at mills in the United States and expectations that scrap prices will rise in March have continued to drive gains in domestic hot-rolled coil pricing, and also sparked a fresh round of mill hikes.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.47 per hundredweight ($598.4 per short ton) on Thursday February 27, up by 0.3% from $29.38 per c...Read More

A summary of Mexican long-steel producer Grupo Simec's financial performance in the fourth quarter and full year 2019.In brief Lower shipments and average steel prices per tonne in the fourth quarter reduced full-year net sales for Grupo Simec, despite higher revenues reported overseas in 2019 as a whole, the company's quarterly reported showed on Wednesday February 26. According to the company, d...Read More

The Turkish long steel export markets have been silent over the past week with limited demand in the major markets, sources said on Thursday February 27.The steel mills in Turkey continued to offer rebar for export at $440-450 per tonne fob on an actual weight basis, while bids for material were heard around $430 per tonne.There were...Read More

Prices for imported steel billet and domestic rebar in Egypt increased in the week ended Thursday February 27, but demand was still weak, sources told Fastmarkets.Some Egyptian rebar producers increased their prices on Wednesday February 26.Egyptian rebar producers were offering rebar at E ?9,600-10,100 per tonne ex-works including 14% value-added tax, up from last...Read More

Diamond market weak as coronavirus shuts down China and weighs on global economy. Financial markets slump with Dow -7% (Feb. 21-27). Gold rallies +4% to $1,653 per ounce (Feb. 1-27). Indian market facing severe liquidity crunch as sales to China stop. Luxury retailers reviewing Hong Kong presence after 2019 protests and ongoing epidemic lead to drop in sales. De Beers gives sightholders added flex...Read More

RAPAPORT... US retail sales will grow 3.5% to 4.1% this year, despite trade tensions and the spreading coronavirus epidemic, according to the National Retail Federation (NRF)."The nation's record-long economic expansion is continuing, and consumers remain the drivers of that expansion," NRF CEO Matthew Shay said Wednesday. "With gains in household income and wealth, lower interest rates and s...Read More

(IDEX Online) - It's a 1.53-carat lab-grown diamond  ???,? ? and it's made of Pepsi. A clear, caramel-free version of the soft drink, Crystal Pepsi, was boiled down to its most basic form, according to the ad agency that dreamed up the idea, and the resulting carbon powder was used in the HPHT process. Pepsi describe the cola stone, set in a platinum band, a an "IGI Laboratory Grown...Read More

RAPAPORT... A New York diamond wholesaler was sentenced to five years of probation and ordered to pay $65,000 after stealing nearly $600,000 in loose diamonds sent to him on memo.Isaac Dayan, whose business operates under the name Diamonds Direct, pleaded guilty to charges he failed to pay 11 New York-based diamond companies that had given him stones between November 2015 and November 2018, t...Read More

ASX-listed Newfield Resources is on track to produce the first diamonds from its Tongo diamond mine, in Sierra Leone, in the fourth quarter of this year.The miner on Thursday also said it would soon start the drilling and blasting of the underground decline at Tongo, following the arrival of the mining and support equipment on site.AdvertisementThe underground mining machinery comprises two jumbo...Read More

(IDEX Online) - Women are being urged to treat themselves to a piece of jewelry.They don't need a special reason, says a new consumer marketing campaign called March is Me Month."The goal is to empower every woman to celebrate herself, visit a retail jeweler, and treat herself to a piece of fine jewelry during the month of March," says the Women's Jewelry Association (WJA) which is...Read More

RAPAPORT... Revenue at Michael Hill grew 4.4% year on year to AUD 329.5 million ($216.7 million) in the Australian jeweler's first fiscal half, as investments in digital platforms paid off.Same-store sales - at retail locations open for at least a year - rose 6.3% for the six months ending December 29, reflecting increases across its network in Australia, New Zealand and Canada. Net profit cl...Read More

Diversified miner Anglo American has welcomed the measures to facilitate cross-border financial transactions, in support of trade and investment, announced by South Africa’s Finance Minister Tito Mboweni during his National Budget Speech on Wednesday.In a statement on Thursday, Anglo explained that annexures to the Budget Review provided additional detail, including a shift from the current...Read More

(IDEX Online) - Organizers have announced new dates for the SEASONS | Spring - Fashion Jewellery & Accessories Fair, after it they were forced to postpone the event because of coronavirus. The show, originally scheduled for 3 to 6 March at the AsiaWorld-Expo, Hong Kong, will now take place at the same venue from 19 to 21 May. "This decision has been reached following careful consideration and...Read More