Prices for steel rebar in Egypt fell in the week to Thursday October 10, while imported steel billet prices increased, sources have told Fastmarkets.Egyptian rebar producers reduced their prices on September 30 and October 9.The reason for these falls was that Egypt's prime minister last week announced a reduction in the cost for natural gas, to $5.50 per BTU from $7.00 per BTU. This will substant...Read More
Prices in Southeast Asia's steel billet market fell on Thursday October 10 due to lower offers from Indian steelmakers and despite an increase in ferrous scrap import prices in the bellwether Turkish market, sources told Fastmarkets. "Indian mills have remained aggressive in the export market because of weak domestic demand," an Indian trader said.Billet from India was offered at $392-395 per tonn...Read More
China's hot-rolled coil prices were largely unchanged on Thursday October 10 because although demand was robust, some participants were bearish on the price outlook after some buyers started selling imported goods from Russia.DomesticEastern China (Shanghai): 3,590-3,600 yuan ($502-503) per tonne, unchangedNorthern China (Tangshan): 3,540 yuan per tonne, unchangedSpot prices were stable even thoug...Read More
Diamond market quietover Jewish holidays. Slight improvement in India ahead of Bharat Diamond Week,with buyers looking for polished before Diwali break (Oct. 27). Shortages inRapSpec A3+, nonfluorescent goods as manufacturers maintain low production.China retail sales +8.5% during Oct. 1 Golden Week. Luxury brands shiftinghigh-ticket items from Hong Kong to Shanghai stores. LVMH 3Q jewelry &wa...Read More
RAPAPORT... The Diamond Producers Association (DPA) has unveiled amultimedia campaign tracing the entire story of a diamond from volcanic eruption to its purchase as jewelry.The new cinematic ads, titled "The Diamond Journey" and ranging from 15 seconds to threeminutes, are part of the organization's "Real Is Rare, Real Is a Diamond" series. The pieces highlight the connection between diamond...Read More
RAPAPORT... The Federation of Belgian Diamond Bourses has introduced aban on lab-grown sales in Antwerp's four trading halls. While synthetics trading is still rare in Antwerp, theumbrella group took action last month because it views the exchanges as promotersof natural diamonds, explained Willy Rotti, president of the federation.Lab-grown will still be permitted in companies' offices, where...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
RAPAPORT... LVMH Mo?<
RAPAPORT... A pink diamond ring was the top lot at Sotheby'sHong Kong auction this week, 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....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
(IDEX Online) - Alrosa has appointed Evgeny Agureev as deputy CEO of Alrosa. Agureev will continue to lead the United Selling Organization, of which he is a director, and oversee the sales unit. In his new role, Agureev will continue to develop sales, improve efficiency and transparency and strengthen ties with long-term clients.Alrosa also announced that its sales of rough and polished diamo...Read More
(IDEX Online) - The International Council of Shopping Centers predicts that holiday spending will reach $832.3 billion, with 90 percent of shoppers spending in physical stores. This is a rise of 4.9 percent over last year, according to the annual Holiday Shoppings Intentions Survey, which also found that average holiday-related spending will total $683 per person.According to the survey, 97 percen...Read More
(IDEX Online) - Lucapa Diamond Company Limited reported strong production for both the Lulo and Mothae mines in the September 2019 quarter. The mines achieved a quarterly production record of 14,610 carats during the quarter, which the company says are in line with its strategy of expanding high-value diamond production to maximize revenue.Production increased 67 percent year-over-year at the Lulo...Read More
(IDEX Online) - The Responsible Jewellery Council has entered into a partnership with the United Nations Global Compact to develop best practice impact case studies for building awareness and educating key stakeholders across the jewellery supply chain from mine to retail on how businesses can contribute to the Sustainable Development Goals (SDGs).The RJC Code of Practices covers legal and regulat...Read More
RAPAPORT... Rio Tinto has unveiled a necklace-and-ring set worth $1.1million, created from 673 diamonds recovered from its Argyle mine in Australia. The jewels, called Argyle Dreaming, were handcrafted byjewelry designer John Calleija using pink, white, yellow, blue and champagnediamonds, as well as gold from Rio Tinto's Kennecott mine in the US, thecompany said last week. Pieces in the set,...Read More
South Africa's mining production decreased by 3.2% year-on-year in August."Due to its large weight in the mineral group basket of about 24%, the 12.5% year-on-year decline in the platinum group metals (PGMs) output subtracted three percentage points from the overall sector’s production decline.Advertisement"The other large negative contributors were diamonds, which decreased by...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
RAPAPORT... Gem Diamonds has obtained a 10-year lease to continue miningat the lucrative Let??eng deposit in Lesotho, but will haveto pay a larger proportion of its sales proceeds to the government. The southern African kingdom has also given the miner an exclusive right to renew the lease for anadditional decade, the company said in a statement Friday. Gem Diamonds must pay 10% of diamond sa...Read More
Russian diamond miner Alrosa has appointed Evgeny Agureev its deputy CEO to improve the supply chain of the company and look for new approaches to stimulate rough diamond sales.The 41 year old has been a director of the United Selling Organisation of Alrosa (USO) since 2017 and will continue to lead the USO and oversee the sales unit.AdvertisementIn his new position, Agureev will develop sales, im...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa has generated a further A$15.5-million in revenue from diamond sales, bringing the combined 2019 sales figure to date to A$65.7-million from its Lulo and Mothae mines, in Angola and Lesotho respectively.The ASX-listed miner noted that 5 469 ct of Lulo diamonds were sold at the last auction for gross proceeds of A$8.9-million, representing an av...Read More