The US copper cathode premium fell to its lowest level since July 2018 due to weakened demand and United States-China trade war concerns in the week to Tuesday October 1, while sufficient stocks kept European market activity - and the premium - subdued. US cathode premium hits 15-month low on dampened sentiment. Rotterdam copper premium unchanged due to thin spot business opportunities. US...Read More
Prices for domestic wire rod across Europe remained unchanged on Wednesday October 2, with many market participants focusing on the more active rebar sector, sources told Fastmarkets this week. "Demand for wire rod is not so good, there's not a lot moving. It makes sense to leave it alone [and] wait for a potential recovery," said one Southern European producer, adding that his company had&nb...Read More
Steel H-beam prices in Europe moved down this week following ongoing feedstock price falls and minimal levels of trading, sources told Fastmarkets on Wednesday October 2 Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-590 ($599-644) per tonne on October 2, down from ?,?560-600.Market participants reported lower beam prices this week and said th...Read More
Prices for hollow steel sections in the European domestic market were unchanged this week although feedstock costs continued to decline, sources told Fastmarkets on Wednesday October 2.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?585-600 ($638-654) per tonne on Wednesday, flat week on week.The market continued to struggle with low de...Read More
Iranian export steel billet prices slipped in the week to Wednesday October 2 after several sales were agreed at prices lower than those in earlier deals.Producers tried to resist the downtrend, referring to large-volume billet sales to China in previous weeks and to the current reduced availability of material."Iranian mills were not willing to accept even $350 per tonne fob several days ago, but...Read More
RAPAPORT... De Beers has appointed Alastair Bickerstaff as head ofproduct development and sales for its auctions division. The company created the new role to bring the two elementsof the auctions business together so it could better address its customers'needs, it said last week.Bickerstaff, who began working with De Beers in 2005 as a London-basedtrainee rough-diamond valuer, held a variety of p...Read More
RAPAPORT... Swiss-based luxury retailer Richemont has bought high-endjeweler Buccellati from China's Gangtai Group. Richemont, which also owns Cartier and Van Cleef &Arpels, closed the purchase of the 100% stake in the Italian jeweler last week.The luxury group reportedly tried to purchase an 85% share in Buccellati inDecember 2016 from its previous owner, Italian equity firm Clessidra, b...Read More
RAPAPORT... Global diamond-jewelry demand will decline 2% this year asstock-market volatility in the US is likely to affect consumer sentiment, UBSpredicted. "Demand in 2019 [to date] has been lackluster, and we expecta modest decline in global diamond-jewelry sales in [the 2019 fiscal year],"the investment bank said. UBS has been bearish about US stocks, and in May forecast that the S&P 500...Read More
RAPAPORT... A blue diamond ring by Van Cleef & Arpels fetched morethan double its high estimate at Bonhams, leading an auction where thedesigner's jewels proved popular. The emerald-cut, 2.17-carat, fancy-intense-blue,VVS2-clarity diamond, accented by round brilliant-cut diamonds, sold for $2.5million, or $1.2 million per carat, beating its $1.2 million high presaleestimate at last w...Read More
(IDEX Online) - The IDEX Polished Diamond Price Index showed little movement in September, with prices declining only slightly during the month. The Index began the month at 121.00 and ended it at 120.35.OutlookThe important September edition of the Hong Kong Jewellery and Gem Fair saw weaker-than-usual turnout. Hardly surprising given the tension over the ongoing pro-democracy demonstr...Read More
RAPAPORT... The World Diamond Council (WDC) has cautioned the trade to be vigilant when buying diamonds from the Central African Republic (CAR) since most of the country's rough is being smuggled across its borders.The Kimberley Process (KP) certifies production from six designated areas known as "green zones," which account for only a small portion of the country's rough supply. "People should k...Read More
(IDEX Online) - De Beers Group Auctions has appointed Alastair Bickerstaff as head of Product Development and Sales. The new role was created following the departure of the head of Sales and CRM and is intended to develop more synergy between product development and sales and to better address its customers product needs.The company said this appointment makes De Beers Group Auctions better placed...Read More
RAPAPORT... Lucara Diamond Corp has recovered two gem-quality coloreddiamonds from the high-value portion of its Karowe mine in Botswana. The company unearthed a 9.74-carat blue diamond and a4.13-carat pink from run-of-mine ore taken from the south lobe. The recovery follows the recent sale of a 2.24-carat blue from thesite for $347,222 per carat, the miner said last week. Lastmonth, the comp...Read More
(IDEX Online) - Helzberg Diamonds is offering the ultimate wedding service for engaged couples - a wedding service. The jewelry retailer has ordained hundreds of its associates across the U.S. enabling all Helzberg Diamonds stores to perform legal marriage ceremonies.The associates have been ordained through a partnership with the Universal Life Church. To get married in-store, couples need t...Read More
(IDEX Online) - Diamonds from Zimbabwe and gold from the Democratic Republic of the Congo (DRC) are among items from five countries seized at U.S. borders over suspicions of forced labor. In a statement released yesterday, U.S. Customs and Border Protection (CBP) singled out gold mined in artisanal small mines (ASM) in eastern Democratic Republic of the Congo (DRC) and rough diamonds from the...Read More
JOHANNESBURG (miningweekly.com) – Modern, sustainable and innovative mining was capable of building thriving mining communities that were healthier, better educated and employed in greater numbers, Anglo American CEO Mark Cutifani said on Wednesday when he delivered a keynote address at the Joburg Indaba.Cutifani said communities and governments wanted the company to partner with them to ach...Read More
RAPAPORT... A technology provider part-owned by De Beers has unveiled anautomated cutting machine that, it claims, will significantly speed up diamondmanufacturing and reduce costs. Synova's DaVinci system is the market's first automated instrument that can produce all 57 facets of a round brilliant diamond in one process, the Swiss company saidThursday. The user only needs to perform one final po...Read More
Stainless steel scrap prices in the United States have continued to soften as inventories grow amid lackluster demand at the consuming stainless steel mills."There is no need to push stainless prices with the uncertainty in the stainless scrap markets today and in the short-term future," one major processor said. "It's not like it used to be where prices could be calculated. Today, it's more about...Read More
Global diversified miner Anglo American CE Mark Cutifani has been inducted into the South African Mining Hall of Fame for his contribution to the industry over the last 12 years.Anglo American South Africa has about 50 000 employees, working at own- and subsidiary operations in the diamonds, platinum-group metals, iron-ore and coal sectors, across the country.AdvertisementThe Joburg Indaba So...Read More
US ferrous scrap export prices have shown resilience in a fresh sale to Turkey, which was concluded at steady prices compared with the prior deal.An East Coast shipper sold a 40,000-tonne cargo on Wednesday October 2, priced at $226 per tonne for 33,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap, and at $231 per tonne for 7,000 tonnes of shredded scrap. A similar cargo was sold to T...Read More