Domestic rebar and wire rod prices in the Turkish market remained fairly stable over the past week despite firming scrap prices, sources said on Thursday November 21.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 2,870-2,880 Turkish lira ($503-505) per tonne including 18% VAT on Thursday, compared with the last week's 2,850-2,900 Turkish lira.The do...Read More
Prices for steel rebar and billet in Egypt continued to rise in the week ended Thursday November 21, with strong demand for rebar in the country, sources told Fastmarkets.Egyptian rebar producers were offering material at E ?9,850-10,370 ($611-643) per tonne ex-works including 14% VAT, up from last week's E ?9,600-10,370 per tonne ex-works including VAT.Some Egyptian...Read More
Market sentiment improves as focus shifts to retail aheadof Thanksgiving weekend. Jewelers preparing Black Friday promotions, withstrong emphasis on e-commerce. Department stores and mall-based retailersoffering heavy online discounts to entice customers. A lot of diamonds out onmemo. Dealers maintaining firm prices for RapSpec A3+ diamonds, with positivetrend in dossiers as reduced manufacturing...Read More
Surat manufacturing backto normal as most workers have returned after Diwali break. Steady rough demandas factories raise polished production. Shortages in select RapSpec A3+ diamondswith no fluorescence. Overseas buyers, mainly from Israel and China, lookingfor SI to I1 goods, with some improvement in 0.30 to 0.50 ct., G-J, VS-SIstones. Local jewelry market relatively slow as wedding season begin...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) - The World Jewellery Confederation, CIBJO, has established a new laboratory-grown diamond committee. The new committee will establish operating practices specific to the lab-grown trade. It will operate under the umbrella of the organization's Diamond Commission and is being formed from an ad hoc group working established last year that included CIBJO officers and official...Read More
RAPAPORT... Phillips will feature a blue diamond ring by Tiffany & Co. at its upcoming New York Jewels auction, expecting it to fetch up to $2.5 million. The cut-cornered square modified brilliant-cut, 3.02-carat,fancy-intense-blue, VS2-clarity diamond ring will lead the December 9 sale, the auction house said Wednesday. An assortment of colorless diamonds will also go under thehammer, includ...Read More
(IDEX Online) - Miner Zultgems has sold its private collection of Zultanite to jeweler Kat Florence and Provenance Gems USA in a bid to raise capital to relocate a lost Zultanite vein. The company has been struggling to find this vein for the past three years.Florence acquired the larger pieces of the collection while Provenance Gems, which has retail locations throughout the U.S and Caribbea...Read More
RAPAPORT... Tiffany & Co. has appointed former Barneys New York CEODaniella Vitale as executive vice president and chief brand officer, a newlycreated role that combines merchandising and marketing, Bloomberg reported. Vitale left the department store earlier this month,after it filed for bankruptcy and subsequently sold to Authentic Brands Group. "In her time at Barneys, Daniella was an arbi...Read More
(IDEX Online) - Jewelers of America (JA) has announced that its second annual National Convention will focus on the future of the jewelry retail marketplace.The two-day Convention will feature keynote speakers, seminars from experts both inside and outside the industry, Diamond Detection and Retail Innovation Labs that will bring together leading companies and technologies that can help retailers...Read More
RAPAPORT... Zvi Yehuda is a man of few words, but his accomplishments inthe diamond industry speak volumes. The 82-year-old Israel native is thecreator of numerous inventions that have changed the face of the trade, andeven the face of diamonds themselves. Yehuda first learned about diamonds in 1953 as a precocious16-year-old. His father, wanting to break into a sector that was closed tothose not...Read More
RAPAPORT... Lucapa Diamond Company has unearthed two rough diamondsweighing more than 100 carats from its Mothae mine in Lesotho. The 220- and 127-carat stones, which are low-quality diamonds, werefound during the treatment of recovery tailings - ore that has already beenprocessed once. They are the second and third stones weighing more than 100carats recovered from Mothae since Lucapa began comme...Read More
RAPAPORT... Belgium's diamond trade slowed at a higherrate in October, reflecting global market weakness. Polished exports fell 30%to $671 million, compared with a 25% drop in September.Rough shipments also slumped, according to data from the Antwerp World DiamondCentre.Belgium Trade Data for October 2019 Read More
WINDHOEK – Namdeb, a joint venture between the Namibian government and Anglo American's diamond unit De Beers Group, said on Thursday it was in talks with the government about tax breaks to extend its land-based operations beyond 2023.Diamond mining is the largest taxpayer in Namibia and generates 20% of the Southern African country's export earnings.AdvertisementDiamonds have been m...Read More
JOHANNESBURG (miningweekly.com) – Solar power is playing a major role in reducing daytime electricity bills and lowering diesel use in off-grid diesel-consuming areas, says SunRanch.Solar, whose clients are benefiting from below grid power costs and major diesel savings.“We reduce people’s daytime power costs by 60% to 70%,” SunRanch.Solar chairperson Charles Mostert told M...Read More
The Fastmarkets index for iron ore 65% Fe Brazil-origin, cfr Qingdao was lifted on Thursday November 21 amid growing winter season demand, while lump premiums posted smaller gains.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.67 per tonne, up $0.34 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.70 per tonne, up $0.34 per tonne.62% Fe low-alumina fines, cfr Qingdao:&n...Read More
Seaborne coking coal prices remain resilient, with trading activity involving products in the premium segment not showing any signs of slowing down.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.51 per tonne, up $1.22 per tonnePremium hard coking coal, cfr Jingtang: $144.07 per tonne, unchangedHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingtang: $133...Read More
Traders are scrambling to divert their transshipped containerized cargoes of ferrous scrap bound for Indonesia to other destinations and find new supply sources in response to new import restrictions issued last month by the country's trade ministry."I'm working to divert my containerized scrap cargoes to other ports in Asia because the new regulations do not allow transshipment," a trader in East...Read More
Discouraging news from China over the “phase one” trade deal with the United States has led to less risk appetite, which for now is affecting the broader markets more than the metals, which were broadly firmer on Thursday November 21.Asian equities are weaker, led by a 1.5% decline in the Hang Seng, and US 10-year treasury yields fell as the outlook for a trade deal deteriorates. Ba...Read More
The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday November 21, dipping below nearby support against fresh inflows of material, while tin's outright price bucked the downward trend. Zinc's three-month price was recently seen at $2,297 per tonne, with price action down 0.5% from Wednesday's closing price of $2,313 per tonne. Turnover in zinc was hig...Read More