Falling ferrous scrap prices have dulled sentiment in Singapore's rebar import market over the past week. The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $455-465 per tonne for the week to Monday January 20, widening from $465 per tonne a week earlier.Turkish reba...Read More
RAPAPORT... The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award.The accolade, which was established in 2002, recognizes industry leaders who have raised the jewelry community's reputation through their dedication, ethics and integrity, JVC said last week."Susan is a true industry treasure who deeply emb...Read More
Prices in Asia's hot-rolled coil market are poised for more upticks immediately after the Lunar New Year holiday, according to industry sources."There is a sense of tightness in HRC supply in Asia, especially with fewer cargoes heading to the region from March and April," a source at a major re-roller in Vietnam said.This is largely due to an expected decrease in shipments from Indian steelmakers...Read More
RAPAPORT... Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau as it becomes the latest jeweler to rethink how its spreads resources across the region.The retailer expects a "single-digit" decrease in the number of rental leases it renews in Hong Kong in the current financial year ending March 31, and a "double-digit" drop the following year, it sa...Read More
RAPAPORT... Alrosa has begun drilling at its Mir mine to test whether reopening the deposit is economically viable.This phase, which it will carry out through 2021, will help define the mine's dimensions and the quality and grade of its remaining diamonds, Alrosa noted last week. It will also test how safe the site is.Alrosa will spend RUB 2 billion ($32.5 million) to complete the first phase...Read More
China's hot-rolled coil market was quiet on Monday January 20, with most traders and mills having already suspended trading ahead of the Chinese New Year holiday at the end of this week.DomesticEastern China (Shanghai): 3,860-3,880 yuan ($563-566) per tonne, unchangedNorthern China (Tangshan): 3,590 yuan per tonne, unchangedTrading was thin throughout the day since there were not many participants...Read More
(IDEX Online) - HRD Antwerp has hired Ellen Joncheere as its new CEO. The appointment is effective immediately. Interim CEO Michel Janssens will be retiring next summer. Joncheere was formerly general manager at Fremach, a plastic automotive components supplier. She has also worked in the environmental services sector. HRD Antwerp said in a release that the new CEO plans to help the orga...Read More
RAPAPORT... Bonhams has hired Eleonora D'Ottavi in its latest effort to build up its global jewelry business.D'Ottavi will join the auction house as head of jewelry for Italy, responsible for providing valuation services and sourcing gems that Bonhams will sell at its New York, London and Hong Kong auctions."Eleonora brings the ideal combination of international experience and proven com...Read More
RAPAPORT... Chow Tai Fook has acquired Enzo Jewelry, a colored-gemstone brand with around 60 retail locations in mainland China.Enzo, founded in 2004, targets "modern, sophisticated and self-confident women who demand fashionable jewelry with a highly distinctive style," Hong Kong-based Chow Tai Fook noted Friday. The brand aims to grow in mainland China through self-operated and franchise stores,...Read More
(IDEX Online) - There are rumors that De Beers could be considering changes to its Sightholder system. According to Bloomberg, De Beers has hinted that it could reduce the number of Sightholders to help strengthen business for the companies that survive the shake up. Bloomberg said that De Beers' clients have been told to expect an update on possible contract changes at this week's...Read More
LONDON – De Beers is considering key changes to the way it sells diamonds as frustration mounts among its customers – a supposedly elite group that are now struggling to turn a profit.De Beers has signaled to its handpicked buyers that it may significantly reduce their number, possibly by the most since its monopoly ended at the beginning of the century, according to people familiar wi...Read More
RAPAPORT... Rio Tinto expects a decline in diamond production in 2020 as it reduces output at its Argyle mine in Australia, which is set to close in the fourth quarter.The company will produce between 12 million and 14 million carats for the year, compared with 17 million carats in 2019, it said last week. The miner also expects to retrieve lower grades at its Diavik mine in Canada, further i...Read More
(IDEX Online) - Chow Tai Fook Jewellery Group Limited has acquired Enzo Jewelry Inc. The retailer, which specializes in colored gemstones, has 60 points of sale in Mainland China.Adrian Cheng, executive director of Chow Tai Fook Jewellery Group, said Enzo will continue its niche position as a natural coloured gem specialist, which will complement the group's multi-brand strategy. Founded...Read More
Gusa Brasil, formerly knows as Sidepar, partly restarted operations in the state of Par?? in northern Brazil in early January, with the first pig-iron sale made in the middle of the month, sources told Fastmarkets.The restart will add a small tonnage to the pig iron market, however, so participants only expect a minor impact, Fastmarkets was told."Pig iron prices have improved so that makes it rea...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesSerengeti said yesterday it was set to increase its ownership to 67% of Kwanika Copper Corp by sole-funding 2020 exploration at Kwanika, with Korea's POSCO International electing "not to participate"Read More
The Turkish deep-sea scrap import markets remained quiet at the beginning of the week, following the sharp price decline that was seen late last week, sources said on Monday January 20.A steel mill in the Izmir region booked a US cargo of 35,000 tonnes of HMS 1&2 (95:5) at $295 per tonne cfr late on January 15.This would have put the HMS 1&2 (80:20) price at $288 per tonne, compared with a previou...Read More
Ferrous scrap prices in the global markets continued to weaken during the week ended Friday January 17, following the sharp decline in the Turkish market.Turkish prices decline sharply with fresh US tradeUnited States East Coast prices down; West Coast to followPrices in Taiwan and Vietnam fall steadily on soft demandInternational downturn drags down Indian pricesTurkeyPrices for ferrous scrap imp...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resources"We will do more than 7,000m of mostly infill drilling at La Plata and start the permitting process this year. It will take about 18 months and cost about US$10 million," he said.Read More
Turkish domestic scrap prices have gone down over the past week amid falling imported scrap values, sources said on Monday January 20.Following the news of a US deep-sea scrap cargo sold at $295 per tonne cfr for HMS 1&2 (95:5), the daily scrap indices fell by $15.15 per tonne on Thursday January 16.Turkish steel mills and a major scrap yard in the Izmir region have reduced their buy prices for...Read More
* Zinc breaks 200-day moving average * Historically low zinc inventories offer price support (Updates with closing prices) By Pratima Desai LONDON, Jan 20 (Reuters) - Zinc prices rose to two-monthhighs on Monday after a break of key technical levels triggereda flurry of buying and as the market worried about historicallylow inventories. Benchmark zinc on the London Metal Exchange (LME)ended 0.6% u...Read More