Export prices for hot-rolled coil, cold-rolled coil and plate from the Commonwealth of Independent States continued to decline amid weak demand in the week to Monday October 7. Demand has been weak for several weeks, following falls in domestic steel prices in CIS export markets, causing CIS flat prices to fall in consecutive pricing sessions in the region. Buyers have been reluctant to place orde...Read More

Import prices for steel slab in Southeast Asia and East Asia were stable over the past week due to sluggish trading activity amid a week-long holiday in China to mark the country's 70th anniversary.Market participants are waiting to see how Chinese steel prices will change when its markets re-open on October 8, a trader in Taiwan said. Prices in Asia's downstream hot-rolled coil market fell amid C...Read More

An ample supply of Indian and Russian hot-rolled coil in Asia maintained pressure on prices in the region over the past week.Fastmarkets' weekly 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 $440-445 per tonne cfr for the week ending Monday October 7, down $5 per tonne from a week earlie...Read More

Import prices for rebar into Singapore were unchanged over the past week due to limited spot activity during the National Day holiday in China.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-435 per tonne for the week to Monday October...Read More

RAPAPORT... A pink diamond ring was the top lot at Sotheby'sHong Kong auction Monday, garnering HKD 155.8 million ($19.9 million), or $1.9 million per carat.  The cut-cornered rectangular mixed-cut, 10.64-carat, fancy-vivid-purplish-pink, internally flawless stone, set between two white trapeze diamonds, had a presale estimate of HKD 150 million to HKD 200 million ($19.1 million to25.5 m...Read More

RAPAPORT... Petra Diamonds will offer a 20.08-carat blue diamond at aspecial tender in Johannesburg next month, with analysts predicting the rough couldattract $15 million.The miner recovered the type IIb, "exceptional" gem-qualitystone at its Cullinan deposit in South Africa last month. It has not given anyfurther information on the diamond's quality."We expect this stone to fetch a good price -...Read More

RAPAPORT... There was a time, though not very recent, when a gathering of the World Federation of Diamond Bourses (WFDB) was graced by royalty and high-ranking politicians, recalled industry consultant Peter Meeus at the organization's annual Presidents' Meeting that took place late September in Dubai. "Can we bring back the old days when kings and queens were honoring international [diamond]...Read More

RAPAPORT PRESS RELEASE, October 7, 2019, Las Vegas...Diamond market sentiment was weak in September after the Hong Kong show demonstrated a slowdown in Chinese demand.Buyers from mainland China are cautious. The US-China trade war, depreciation of the yuan, and higher gold prices have diminished their spending power. US jewelers are limiting their inventory purchases as the shift to interactive di...Read More

United States-based financial services organization INTL FCStone has acquired the futures and options brokerage operations and the clearing business unit from UOB Bullion and Futures.This will give INTL FCStone access to trade a host of derivatives on the Singapore Exchange (SGX), the company said on Monday October 7.The acquisition from UOB Bullion and Futures, a subsidiary of Singapore-based Uni...Read More

RAPAPORT... The National Retail Federation (NRF) has forecast a strong risein US holiday sales, as a healthy economy outweighs tariff fears in the shortterm.Retail sales in November and December are expected toadvance 3.8% to 4.2% year on year, for a total of between $727.9 billion and$730.7 billion, the organization noted. The average increase over the past fiveyears was 3.7%, it added. "There is...Read More

(IDEX Online) - Everyone may look for the big diamond finds, but sometimes big things come in small packages. At least, that's the case with an unusual "diamond within a diamond" found at Alrosa's Nyurba mining and processing division in Yakutia.  Experts believe that the stone, which resembles a traditional Russian Matryoshka doll, is the first diamond of its type ever found a...Read More

(IDEX Online) - Petra Diamonds will hold a special tender of the 20.08-carat blue diamond. The stone, a gem-quality Type llb diamond, was recovered from the Cullinan mine in South Africa last month.Viewings will take place at Petra's diamond marketing offices in Johannesburg from November 1-7 and at the Diamond and Exchange and Export Center from November 8-15.London Stock Exchange-listed Pet...Read More

Russian miner Alrosa has discovered what believes to be a first in the history of global diamond mining: a diamond with another diamond moving freely inside it.The unusual stone, which resembles a traditional Russian Matryoshka doll, was mined in Yakutia, Russia.AdvertisementCiting scientists, Alrosa said in a media statement that the diamond could be more than 800-million years old.Despite its co...Read More

Turkish steel mills were silent on the first working day of the week with no deep-sea purchases taking place and prices remaining stable, sources said on Monday October 7. Two cargoes were booked at the end of last week. One Turkish steel mill in the Marmara region booked a UK cargo at $223.50 per tonne cfr for HMS 1&2 (80:20) and another steel mill in the Izmir region booked a US cargo at $228.50...Read More

Workable prices for pig iron buyers in the United States have declined after first scrap deals were concluded at lower prices, but no reduced offers have been heard, market sources told Fastmarkets on Friday October 4. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $290-300 per tonne on October 4, down from $300-315 per tonne the previous week. "I would b...Read More

Seaborne iron ore prices were steady on Monday October 7, though Australian miner BHP reported damage to a car dumper at its operations in Port Hedland, Australia.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.38 per tonne, unchanged. 62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged. 62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged. ...Read More

A major Japanese steelmaker has agreed with Australian suppliers on contract prices for shipments of pulverized coal injections (PCI) materials and semi-soft coking coal in the fourth quarter of 2019, sources told Fastmarkets on Monday October 7.Premium hard coking coal, fob DBCT: $146.08 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $159.70 per tonne, unchanged Hard coking coal, fob...Read More

LSE-listed Petra Diamonds will hold a special tender for the sale of a 20.08 ct blue diamond recovered from the Cullinan mine, in South Africa, in September.Viewings, which can be reserved via appointment, will take place from November 1 to 7 at Petra's diamond marketing offices in Johannesburg.AdvertisementThe tender will then follow from November 8 at the Diamond Exchange and Export Centre.T...Read More

A major South Korean steelmaker is likely to cut its ferrous scrap purchases in October as well as for the rest of the year."This is due to the high inventory levels it is holding, as well as due to it waiting for the delivery of contracted cargoes it had purchased. Steel production rates in South Korea are also likely to dip," a Japanese trader told Fastmarkets last Friday October 4.The cut is ex...Read More

RAPAPORT... De Beers' sales slumped to $295 million in September as the minercontinued to allow sightholders to refuse goods in the prevailing weakrough-diamond market. The company maintained firm prices and offered increasedflexibility to encourage lower purchases, thereby reducing the oversupply inthe polished sector, sightholders explained to Rapaport News. Itcontinued its policy of allowing cl...Read More