Most stainless steel prices in the United States drifted modestly lower in March even though mills increased their base prices late last month.Alloy surcharges fell by a greater amount than the base price increases, leading to lower overall stainless prices.On February 25, North American Stainless (NAS), Outokumpu Stainless USA and Allegheny Technologies Inc (ATI) separately announced plans t...Read More

Stainless steel scrap prices in the United States stumbled in the week to Tuesday March 10 as the spread of the novel coronavirus (2019-nCoV) has accelerated, affecting many economic communities throughout the world."The spread of the coronavirus has now infected the stainless steel scrap market," one stainless scrap dealer said. Scrap dealers and processors have been quoting and buying materials,...Read More

The London Metal Exchange three-month nickel price declined at the close of trading on Wednesday March 11, weakening against continued risk-aversion, while lead futures failed to hold above $1,800 per tonne. Nickel's outright price on the LME closed at $12,420 per tonne this afternoon, falling from an intraday high of $12,905 per tonne, while turnover was high with more than 9,500 lots exchanged b...Read More

Nickel premiums in China, the United States and Europe traded flat in the week to Tuesday March 11, while novel coronavirus (2019-CoV) disruptions further weakened poor appetite for physical nickel.US market stagnates with virus unsettling trading activityChina premiums flat while the import arbitrage window remains firmly closedEuropean market maintains lackluster trajectory while LME volatility...Read More

Aluminium ingot and billet premiums in Italy held steady this week, but market participants there are bracing for major logistical disruptions because of the country's efforts to contain the novel coronavirus (2019-nCoV) outbreak.Italy is one of the hardest hit European nations, with more than 10,000 cases and more than 600 deaths as of Tuesday March 10 and the country has introduced emergenc...Read More

Chile recorded a 0.4% year-on-year increase in copper production during January, as higher output from Escondida and Collahuasi offset declines from Codelco, Anglo American Sur and BHP's Spence, according to copper commission Cochilco.The country produced 459,100 tonnes of copper content in the first month of 2020, compared with 457,100 tonnes a year earlier, the commission said on Tuesday March 1...Read More

Prices for hot-rolled coil in the United States fell slightly on Wednesday March 11 as fears about the impact of the novel coronavirus (2019-nCoV) on global economies deepened, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US finished the day at $28.81 per hundredweight ($576.2 per short ton), down 0.3% from $28.89 per cwt a day ago, and down 4.2% from...Read More

The price for steel H-beams in Europe was unchanged in the week ended Wednesday March 11, while the market waited for the upcoming monthly European scrap settlements, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-570 ($607-647) per tonne on Wednesday, unchanged week on week.Many European market participants were...Read More

Domestic prices for heavy steel plate decreased across Europe in a slow market after Italian authorities enforced a country-wide travel ban, sources told Fastmarkets on Wednesday March 11. Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe was ?,?505-520 ($573-590) per tonne on Wednesday, down by ?,?5 per tonne week on week from ?,?510-525 per tonne on...Read More

RAPAPORT... A challenging rough market in the first half of the year led to a decline in Alrosa's profit in 2019, despite a stronger fourth quarter.Profit fell 31% to RUB 62.7 billion ($874.6 million) for the year, as an oversupply of polished stones hampered rough demand, the miner said Tuesday. Revenue dropped 21% to RUB 238.2 billion ($3.32 billion). Diamond sales slid 23% to RUB 215.4 billion...Read More

RAPAPORT... Two additional industry events will not take place this month as fears of the coronavirus continue to escalate.Manufacturing Jewelers & Suppliers of America (MJSA) has postponed its Expo, while JA New York has canceled its upcoming show, both set to run in New York from March 15 to 17. Jewelers of America (JA) has not announced an alternative date for that event, but still expects...Read More

RAPAPORT... Sales at Chow Tai Fook dropped 60% in Hong Kong and Macau and 42%in mainland China in the first two months of the year as stores shut for muchof the period."In response to the measures of local governments [to contain] the spread of [the] COVID-19 virus, the majority of our points of sale in mainland China were temporarily closed since late January 2020, and Hong Kong and Macau fr...Read More

RAPAPORT... When lab-grown diamonds first started to make noise in the consumer jewelry market, much of the marketing power driving them forward was about cutting through the confusion. Are they real? Why do they cost so much? Why should I buy them? Shoppers had questions, and the only way to make sales was to answer them clearly, concisely, repetitively and in unison. The messages have start...Read More

RAPAPORT... Sotheby's will hold an exhibition and sale of pieces Parisian jewelry house Mellerio made for royals including Marie Antoinette.The exhibition, which will showcase some of the jeweler's most important commissions, is set to take place from March 28 to 31. It will feature 17 items made by the 407-year-old brand, which have been worn by Marie de Medici, former queen of France, as we...Read More

(IDEX Online)  - Stargems and A.A. Rachminov are to pool their respective sourcing and marketing resources in a new joint venture.It will capitalize on Stargem's rough sourcing capabilities as an accredited DTC buyer and A.A. Rachminov's 80-year reputation for polishing, marketing and distribution.The stones will be sourced in South Africa and most of the manufacturing will be done...Read More

Diamond miners Gem Diamonds delivered solid operational results for the year ended December 31, which, together with the targeted gains of a business transformation programme and continued emphasis on cost controls, affirmed it as one of the lowest-cost producers in the industry, CEO Clifford Elphick said on Wednesday.The operational results were characterised by the achievement of all guided oper...Read More

(IDEX Online) - Diamond workers are being laid off in the Indian cutting and polishing capital Surat because of coronavirus.Smaller factories have been hardest hit by the downturn in demand, and payments being trapped in its main markets of China and Hong Kong, according to a Times of India report.Ranmal Jilariya, president of Gujarat Diamond Workers' Union, told the paper he'd met 40 di...Read More

China's iron ore imports rose by 1.5% year on year to 176.84 million tonnes in January-February 2020 amid the Lunar New Year shutdown and coronavirus (2019-nCoV) spread, the country's General Administration for Customs said.Before the Chinese New Year holiday, iron ore demand from China is typically quite good because steel mills prefer to restock material while blast furnaces (BFs) continue to wo...Read More

LSE-listed Gem Diamonds has highlighted the recovery of a number of top-quality white, as well as one pink, diamond from its Letšeng mine, in Lesotho, between February 28 and March 3.Five white gem diamonds, weighing between 33 ct and 114 ct, were recovered, along with a 13 ct pink gem diamond.AdvertisementEarlier in February, Gem had recovered an exceptional 183 ct white Type IIa diamond f...Read More

(IDEX Online) - Alrosa's total rough and polished sales for February dropped 14 per cent to $346.6m, the company announced today.The Russian mining giant said coronavirus had reduced diamond demand and was likely to do so in the coming months. Sales in January totaled $405.0mAlrosa yesterday blamed weak demand for a 21 per cent drop in revenue and a 31 per cent slump in net profit for 2019 wh...Read More