China's hot-rolled coil prices continued to fall on Thursday October 17, with sentiment hurt by a continual weakening of rebar futures despite a drop in inventory levels for the flat steel product.DomesticEastern China (Shanghai): 3,500-3,510 yuan ($493-495) per tonne, down 20-30 yuan per tonneNorthern China (Tangshan): 3,500 yuan per tonne, down 20 yuan per tonneMills lowered their offers in the...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The Wood Mackenzie team will be presenting our analysis and perspectives on key commodities which include Copper, Nickel, Coal (met and thermal) and Aluminium. Join us at the Moscow Metals & Mining Briefing to discuss the issues f...Read More
Markets quiet amid Jewish holidays with steady demand forRapSpec A3+ goods. Indian manufacturers delay Diwali shutdown to increasepost-festival inventory. Trading slow at Bharat Diamond Week. Liquidity lowwhile companies settle supplier bills and pay staff ahead of Diwali. AlrosaSep. sales -24% to $259M, but small-stone demand recovering. Hong Kong protestshit luxury sector, with Chow Tai Fook 2Q...Read More
RAPAPORT... A fancy-deep-blue diamond ring with a highestimate of CHF 14 million ($14.1 million) will go under the hammer at Christie's GenevaMagnificent Jewels auction next month. The 7.03-carat stone,mounted by Moussaieff, will lead the November auction, Christie's said Thursday.Another prominent lot is a 46.93-carat, D-color, internally flawless diamondring, which is expected to fetch CHF 3.8...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.On Friday 15th February 2019, Vale announced there was a fire affecting a conveyor belt system at its distribution centre in Malaysia. Vale anticipate this will result in a 10 to 15 day halt in operations and note that a planned 10 da...Read More
RAPAPORT... US retail sales stalled between Augustand September, indicating that consumer confidence may be waning in light ofthe escalating trade war. Total purchases for September -excluding automobiles, gasoline and restaurants - dipped 0.1% compared to theprevious month, according to data the National Retail Federation (NRF)published Wednesday. However, with the month also seeing 4.5% yea...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
RAPAPORT... Marvin Zale, son of Zales founder Morris Zale, and former vice chairman of the jeweler, has died at 89. Born in Texas in 1930, Zale grew up in his father's jewelrybusiness, which was established in 1924. He began his diamond education inAntwerp in 1948, returning to the US to serve in the army. He joined Zales in1953, working at various stores across the country. In 1958, he move...Read More
RAPAPORT... Lower mining grades and reduced ore availability contributedto a drop in Rio Tinto's third-quarter diamond production, the company reportedWednesday. Output at its wholly owned Argyle mine in Australiafell 7% year on year, yielding 3.6 million carats in the three-month periodending September 30. Production was hampered by lower grades, despite stronger mining and processing rates,Rio T...Read More
RAPAPORT... Hong Kong-based jeweler Chow Tai Fook has reported adownward trend in sales across both mainland China and Hong Kong in the secondfiscal quarter. Same-store sales of gold products - at branches open for atleast 12 months - fell 15% year on year in mainland China for the period endingSeptember 30, and 49% in Hong Kong, the company said Tuesday. Same-store salesof gem-set jewelry a...Read More
RAPAPORT... The World JewelleryConfederation (CIBJO) has produced a special report on ethics ahead of its annualcongress in Bahrain next month."Weaving It All Together: An Ethical Status Report at the End of2019," released on Wednesday, covers a variety of topics, ranging frominternational frameworks to advertising and disclosure. Its author is TiffanyStevens, president of CIBJO's ethics commissio...Read More
RAPAPORT... Christie's has appointed AntiquesRoadshow watch expert Michael Fossner to lead its west coast watchdepartment. The auctioneer has charged Fossner with leading appraisals whileguiding and growing the company in the region. He is also expected towork with colleagues in New York and internationally to win new business andbring key pieces to market. Fossner, who has appeared on PBS's...Read More
(IDEX Online) - Diamond producer Alrosa today (Thursday) reported that its Q3 2019 diamond production hit 12.1 million carats, with sales totaling 6.4 million carats by volume and $0.6 billion by value. The miner said the increase in output - up 24 percent quarter-over-quarter and 15 percent year-over-year, was due to the launch of production at new deposits and the expansion of existing area...Read More
Turkish steel producers restarted their deep-sea scrap bookings for November shipments at slightly higher prices, sources said on Thursday October 17.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $242 per tonne and 5,000 tonnes of bonus at $252 per tonne cfr.The previous Baltic Sea cargo reported by Fastmarkets was sold at $237 per...Read More
(IDEX Online) - Rio Tinto has announced that lower mining grades and reduced ore availability led to a drop in its third-quarter diamond production at its two mines.At the 100-percent owned Argyle mine in Australia, production was 7 percent lower than the same period of 2018 due to lower recovered grade. This resulted in a production level of 3.6 million carats for the three-month period ended Sep...Read More
(IDEX Online) - Platinum Guild International (PGI) has opened its first showroom in Shenzhen, China. The opening is part of the organization's strategy to target younger consumers in a country that traditionally values gold. "Research has shown that the number one barrier to acquiring platinum jewellery in recent years has been the lack of appealing designs, so PGI has worked closely wit...Read More
(IDEX Online) - CIBJO (the World Jewellery Confederation) has published a report by its Ethics Commission ahead of its Congress in Bahrain in November.Weaving it all together: an ethical status report at the end of 2019 covers topics such as the increasing number of international conventions with which members of the jewelry industry are expected to comply and recommended processes of disclosure."...Read More
RAPAPORT... Costco sold a diamond ring worth $220,000 in the fourth fiscal quarter, the membership-based warehouse retailer saidearlier this month. Executivevice president and chief financial officer Richard Galanti confirmed thesale during the company's fourth-quarter earnings call on October 3, just months after another big-ticketjewelry sale for the American multinational. The retailer noted a...Read More
RAPAPORT... Lucapa Diamond Company earned $10.4 million fromits latest sale of rough stones, bringing its total for the year to date to$45.9 million. The miner sold 5,469 carats from its Lulo mine inAngola for $5.9 million, at an average price of $1,087 per carat, it reportedThursday. This figure does not include a 46-carat pink diamond recovered lastyear that is currently being assessed for polis...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.India's renewables target of 175 GW capacity (100 GW of solar and 75 GW of wind) by 2022 is an ambitious endeavour. Even with significant cost declines, Wood Mackenzie expects about 76% of the target to be met by 2022 and this would s...Read More