Turkish steel producers raised their offers to reflect the upturn in the scrap costs in their finished steel prices although demand continued to be sluggish, sources said on Thursday November 28. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey was $420-430 per tonne on an actual weight basis on Thursday, up from last week's $415-420 per tonn...Read More

Prices for steel rebar and billet in Egypt continued to rise in the week ended Thursday November 28 amid strong demand from the construction sector, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?10,000-10,500 ($619-650) per tonne ex-works including 14% VAT, up from last week's E ?9,850-10,370 per tonne ex-works including VAT.The...Read More

The recent grant of approval from the Indian Supreme Court for ArcelorMittal's acquisition of Essar Steel brings an end to years of legal wrangles, giving the global steelmaker access to a much sought-after market, and allowing the Indian steel sector to take a further step toward health. ArcelorMittal has been keen for some time to break into the domestic Indian steel market because it is one of...Read More

The Fastmarkets holiday pricing schedule has been updated to reflect the official announcement of public holidays in China for 2020. Please click on the image below to view the updated Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2019 and 2020.For all Fastmarkets price methodologies and specifications, visit: https://ww...Read More

China's domestic hot-rolled coil prices were largely stable on Thursday November 28, while in the export market buyers were refraining from placing orders on expectation of possible price drops in the near future.DomesticEastern China (Shanghai): 3,690-3,720 yuan ($525-530) per tonne, unchangedNorthern China (Tangshan): 3,630 yuan per tonne, narrowing downward by 10 yuan per tonneTrading...Read More

Positive sentiment as US jewelers completeholiday orders. Optimistic outlook for season as stock market rallies despiteTrump impeachment trial and trade war. LVMH $16.2B Tiffany buyout demonstratesconfidence in luxury jewelry sector. Macy's and J.C. Penney highlight strong 3Qjewelry performance. Retailers taking more on memo, presenting good opportunityfor New York dealer market. Manufacturers rai...Read More

Polished trading relatively quietfor this time of year. Manufacturing back to normal after Diwali as suppliersprepare for orders after US holidays. Inventory levels down, supporting pricesof better-quality RapSpec A3+ goods. Large volume of lower-quality diamondsstill available. Rough trading stable, with some hope for further price cuts. RoundRead More

RAPAPORT... Sales at Chow Tai Fook were down only slightly in the first fiscal half,as growth in the Chinese market offset a downturn in Hong Kong. Revenue fell 0.6% year on year to HKD 29.5 billion ($3.77billion) in the six months ending September 30, the company said Thursday. Totalsales in mainland China rose 12% during the period, as the Hong Kong-basedjeweler expanded its store network. Same-...Read More

RAPAPORT... Lucapa Diamond Corporation is in advanced discussions withthe Angolan government to secure a majority stake in its Lulo mine, it saidThursday. The company currently owns 39% of the 3,000-square-kilometerproject, which is based in the Lunda Norte region. State-ownedEndiama owns 51%, and private local company Rosas & Petalas holds a 10%share. Lucapa hopes to reachan agreement wi...Read More

RAPAPORT... Christie's brought in GBP 8.3 million ($10.7 million) fromits Important Jewels sale in London on Wednesday, with pearls dominating the event. The priciest was a cut-cornered rectangular step-cut,18.02-carat, D-color, VVS1-clarity, type IIa diamond ring, which fetched GBP881,250 ($1.1 million) against an estimate of GBP 800,000 to GBP 1.2 million($1 million to $1.6 million). Four o...Read More

RAPAPORT... A storied past and popularity as a brand might bethe first things that would attract a potential suitor to Tiffany & Co. ButLVMH has identified another key attribute that made the US jeweler a valuabletarget: its ability to source its own diamonds and track its supply chain."Tiffany is [advanced], due to its very high level ofvertical integration, compared to our own brands," said...Read More

(IDEX Online) - Lucapa Diamond Company has confirmed that it has been holding advanced discussions with the Angolan Ministry of Mineral Resources and Petroleum and Angola's national diamond company Endiama E.P. to secure a majority stake in the Project Lulo joint venture.Lucapa holds a 39-percent interest in the Angolan project and is the operator of the kimberlite exploration joint venture....Read More

RAPAPORT... Albert Bensoussan has stepped down as CEO of Kering's luxurywatches and jewelry division, the French retail group said Wednesday.Bensoussan joined the owner of Gucci and Yves Saint Laurent in 2014, taking responsibility for its jewelry brands Boucheron, Pomellato, DoDo and Qeelin, and its watch collections Girard-Perregaux and Ulysse Nardin. He previously headed jewelry andwa...Read More

(IDEX Online) - If you think the holidays are moving earlier each year, you're not wrong. A survey by the National Retail Federation and Prosper Insights & Analytics reveals that over half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made. The survey, which took place during the first week of November, found 56 percent o...Read More

RAPAPORT... A jadeite bead and spinel necklace was the top lot atChristie's Hong Kong sale Tuesday, fetching HKD 73.6 million ($9.4 million). The necklace is named the Heavenly Harmony because its 68jadeite beads are perfectly matched from two different roughstones. It was estimated at $7 million to $11 million at the Magnificent Jewelsauction. The entire sale brought in HKD 396.5 million ($5...Read More

(IDEX Online) - Diamond explorer Botswana Diamonds (BOD) and VAST Resources plc (Vast) have agreed the terms of a new agreement for their proposed joint venture in the Chiadzwa / Marange area of Zimbabwe. In October 2018, BOD and Vast concluded an agreement to development Vast's Heritage concessions in the Marange Diamond Fields (the Heritage Concession Agreement). They also agreed a sep...Read More

Semi-industrial and artisanal diamond mining cooperatives in Angola will lose their mining licences if they remain inactive for more than six months, Geology and Mines State Secretary Jânio Correia Victor warned recently. He was speaking in Luanda at the First Meeting on Semi-Industrial Diamond Operations in Angola. “The withdrawal of licences is the solution, if they do not heed the d...Read More

(IDEX Online) - Diamcor Mining Inc. sold 6,055.28 carats of rough diamonds in its second third-quarter sale and tender. The tender generated total gross proceeds of $693,401, resulting in an average price of $114.51 per carat.  The company said that the continuing lower than historical average dollar per carat in its tenders results from a higher percentage of smaller, lower quality roug...Read More

JOHANNESBURG (miningweekly.com) – Although strides have been made in reducing mine fatalities, occupational diseases and industry disasters, there is still work to be done in the mining industry’s quest for zero harm, speakers at the Anglo American Tripartite Health and Safety Initiative, said on Thursday.With the industry continuing its pursuit of zero harm, and having to contend with...Read More

Seaborne iron ore prices were rangebound on Thursday November 28, while the 65/62% Fe spread narrowed amid losses in steel prices and profits.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.11 per tonne, up $0.55 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.20 per tonne, down $0.39 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88 per tonne, up $0.97 per tonn...Read More