Here are five Fastmarkets MB stories you might have missed on Monday November 25 that are worth another look.Brazilian rebar suppliers ArcelorMittal and Gerdau have announced a price hike of up to 12% for January orders, Fastmarkets understands.Seaborne manganese ore prices for both grades rose by more than 1% in the week ended Friday November 22 after sentiment improved in response to r...Read More
The steel plate market in the United States held at a two-year low last week despite domestic mills' efforts to raise prices earlier in the month.Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US, was at $30 per hundredweight ($600 per short ton) on Friday November 22, unchanged for a second consecutive week and the lowest level recorded since early No...Read More
Export prices for hot-rolled and cold-rolled coil, and heavy plate from the Commonwealth of Independent States have continued to increase over the past week, in line with increasing raw material prices, sources told Fastmarkets.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $395-405 per tonne on Monday November 25, compared with $390-405 per tonne fob a week ago.Russi...Read More
RAPAPORT... Burglars stole more than $1 billion in jewelry, diamonds andgemstones from the historic Green Vault museum in Germany on Monday morning, according to media reports. The thieves gained access to the Dresden museum by twistingback iron grill bars on a ground-floor window, after a nearby fire at a powerdistributor likely disabled the museum's alarm system, German news outlets said. The G...Read More
RAPAPORT... Hong Kong-based jeweler Tse Sui Luen (TSL) raised concerns about theimpact of the Hong Kong protests on its business, as weak consumer sentimentdented sales. "The weak local consumer sentiment as a result of citywideprotests has made it challenging for retailers to operate," the company saidlast week. "The situation was exacerbated by the significant drop in visitorarrivals, parti...Read More
RAPAPORT... Stargems sold nearly $50 million worth of rough diamonds ata record-breaking tender in Dubai this month. A total of 577,000 carats of high-quality rough from acrossAfrica went on sale at the Dubai Diamond Exchange's Almas Towers, withmore than 500,000 of those originating from the Sacim mine in the DemocraticRepublic of Congo. More than 200 international buyers attended the sale,o...Read More
Brazilian rebar suppliers ArcelorMittal and Gerdau have announced a price hike of up to 12% for January orders, Fastmarkets understands. Steelmakers have been trying to increase the price of rebar in the country since September, with Gerdau pushing for a 7% rise in that month. But the market only started to recover in October and the hike was lower than suppliers expected. Fastmarkets' most recent...Read More
RAPAPORT... LVMH Mo?<
Steel producers in the Middle East asked for more protectionism against cheap imports in 2019 and this trend is expected to continue in 2020.GCCThe Gulf Co-operation Council (GCC) countries started a safeguard investigation on several steel products in October this year. The investigation covers the period from January 2014 to June 2019 and focuses on hot-rolled flat products, rebar, wire rod, sec...Read More
Hot-rolled coil prices in Asia continued to gain last week, but some buyers in Vietnam have started to delay making further purchases amid expectations that the market could start to pull back.Fastmarkets' assessment for steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $450-460 per tonne cfr Vietnam&...Read More
(IDEX Online) - Larry Spicer, a security expert, has joined the leadership team of Jewelers Mutual. Spicer, who has held leadership positions at Aurora Healthcare, Home Depot, and Kohl's, has assumed the role of vice president of Loss Prevention and Risk Management Services. Most recently Spicer was the director, Public Safety at Aurora Healthcare in Milwaukee where he was responsible fo...Read More
(IDEX Online) - Ending weeks of speculation, French luxury group LVMH Mo?? <
China's hot-rolled coil prices gained on Monday November 25, with trading robust amid low inventory.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($528-530) per tonne, up 30-50 yuan per tonneNorthern China (Tangshan): 3,670 yuan per tonne, up 10-20 yuan per tonneTrading across the nation has been robust, with inventory remaining low, several sources said."End users are being forced to re...Read More
(IDEX Online) - It may be too early for retailers to celebrate a strong end to the year, but with total U.S. jewelry and watch sales up for the third month in a row, it's a good sign that 2019 will end much better than it started. Sales of fine jewelry and fine watches increased by 6 percent in the U.S. market in September compared to September 2018, as the graph below illustrates. Follo...Read More
RAPAPORT... The World Jewellery Confederation (CIBJO) has votedto establish a lab-grown diamond committee that will determine rules for the synthetics sector. The CIBJO board approved the move at the confederation's 2019 congress in Bahrain, which took place from November 18 to 20. The committee will include members of an existing working group that comprises CIBJO officers, as well as representat...Read More
(IDEX Online) - Stargems, a DMCC-registered international diamond company, sold just under $50 million worth of goods at its recent tender at the Dubai Diamond Exchange. The sale was one of the largest rough diamond tenders held in the UAE.The goods on offer included over 500,000 carats from the SACIM mine in the Democratic Republic of the Congo (DRC). A total of 577,000 carats of rough were viewe...Read More
The World Diamond Council (WDC) says governments have failed to reach consensus on a strengthened scope for the Kimberley Process (KP) during this year’s KP plenary meeting, which was held in India earlier this week.The meeting was expected to discuss the end of the KP’s three-year reform and review cycle, including the future of the much-anticipated reform agenda.AdvertisementThe KP i...Read More
Turkish steel producers made no deep-sea scrap purchases on the first working day of the week, but are still expected to buy more cargoes for December delivery, sources told Fastmarkets on Monday November 25.Mills booked four deep-sea cargoes last week at steady prices. The latest bookings were from the Baltic Sea region and sold at $260 per tonne and $261 per tonne cfr for HMS 1&2 (80:20)."I thin...Read More
Scrap prices in the Turkish domestic market remained stable over the past week, in line with steady imported scrap values, sources said on Monday November 25.Steel producers in the country kept their buying prices unchanged for both domestic auto bundle scrap and ship scrap over the past seven days.One scrapyard in Izmir, Kili??lar Hurda, changed its buy price...Read More
Seaborne iron ore prices rose further on Monday November 25, with the 62% Fe index getting back above $90 per tonne cfr for the first time in over a month.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.92 per tonne, up $2.84 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.95 per tonne, up $2.84 per tonne.62% Fe low-alumina fines, cfr Qingdao: $90.31 per tonne, up $2.84...Read More