The latest forecasts from Fastmarkets' team of analysts are ready to view.Heavy rains in China, which can negatively affect iron ore supplies and pig iron production, and bolster demand for scrap, continued in July 2020. Although this was more an upside risk to our bearish base case one month ago, Chinese scrap prices remained strong. The firm prices gained support from the rains and from a more g...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This year has come with several unexpected events which increased the bullish case for iron ore prices, while the Chinese government's spending on infrastructure is likely to boost iron ore demand and add upside support to prices. But supply disruptions and a demand surge which caused price spikes are now easing. We do not e...Read More
The latest forecasts from Fastmarkets' teamof analysts are ready to view.Chinese crude steel production outperformed our expectations with its recovery since the Covid-19 pandemic lockdowns. Crude steel output was up by 2.3% year-on-year in the first half of 2020 to 503 million tonnes, and we have revised upward what was initially a more bearish forecast for this year. We now estimate that product...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prolonged flooding in China could limit the use of construction steel and drag down demand for steel rebar in the short term, which in turn could damp the demand for iron ore. So far, it has been reported that steel mills in the affected regions have continued to operate as normal. The floods have, however, caused a few days...Read More
The latest forecast from Fastmarkets' team of analysts is ready to view.As we enter the summer season across the northern hemisphere, almost half a year has passed since the Covid-19 pandemic began to seriously affect Europe and the United States.One would not really be able to tell that such a dramatic event had occurred by looking at stainless steel prices, however, because they are more or less...Read More
Polished market improving due to select demand from US and China. Shortages supporting prices; 1 ct. RAPI +1.9% in July. Jewelers acclimating to new normal by emphasizing digital sales and lower in-store inventory. De Beers considering layoffs and investing in tech to enable more efficient and customized supply. Rough trading slow and availability low after small De Beers and Alrosa sales. Alrosa...Read More
RAPAPORT... The estate-jewelry sector has fared well during the Covid-19 crisis as customers have continued to show interest in designer goods, dealer Rick Shatz told the Jewelry Connoisseur Podcast.Higher-end clients - on whom the pandemic has taken a lower toll - have still bought signed pieces, perhaps seeing security in these purchases, Shatz said in an interview with Rapaport Editor in C...Read More
RAPAPORT... The US retail outlook is declining after the country's economic recovery slowed in July amid a resurgence of coronavirus cases, according to the National Retail Federation (NRF). "A lack of clarity regarding job outlook and future finances tends to influence spending behavior," said NRF chief economist Jack Kleinhenz. "Coupled with that, uncertainty about further fiscal support fr...Read More
RAPAPORT... Alrosa expects to finalize a sale of rough to Gokhran in the next two months, aiming to reduce its stockpiles while ensuring the diamond industry doesn't receive a flood of goods.Gokhran - Russia's state gem and precious-metal depository - would store the diamonds until the market stabilizes, Alrosa deputy CEO Evgeny Agureev said Monday. The parties are currently negotia...Read More
(IDEX Online) - The Danish jeweler Pandora is to launch a range of Star Wars-themed charm bracelets and other items of jewelry.It's working with Lucasfilm to launch a capsule collection inspired by the 1977 blockbuster and its eight prequels and sequels.Star Wars spawned the most successful ever movie merchandising franchise, grossing an estimated $70bn.The Star Wars x Pandora collection will...Read More
RAPAPORT... Just as the sun emerged from behind the clouds and diamond demand began to recover from a glut in the manufacturing sector, the coronavirus pandemic hit. Its rapid spread forced many miners to shut down temporarily and prevented them from selling their rough. This left several companies on extended care-and-maintenance plans for the foreseeable future, and led some heavyweights to anno...Read More
(IDEX Online) - The Chinese jewelry retail chain Chow Sang Sang has warned that its first-half net profits for 2020 could fall by as much as 70 per cent.Profits are expected to be down from $79.4m to $ 25.8m.The COVID-19 pandemic forced it to close most of its 400 outlets in February, and they were only able to re-open the following month with limited hours.The two-week quarantine also deterred fo...Read More
RAPAPORT... Informa Markets, the organizer of the September Hong Kong show, has launched a digital platform enabling the jewelry industry to trade and network outside the context of physical exhibitions.The company behind the annual Jewellery & Gem World Hong Kong fair created the service together with jewelry-technology provider Atelier Technology. The platform will help users make connection...Read More
(IDEX Online) - A woman has appeared in a British court over the audacious heist in which a gang swapped $5.3m of diamonds for a bag of worthless pebbles.Georgeta Danila, 52, was extradited from France last month and has now been charged with conspiracy to steal from the luxury London jeweler Boodles (pictured), in March 2016.The thieves posed as wealthy Russian businessmen to dupe jewelers out of...Read More
The aluminium industry neither deserves nor can afford the shock that would come from the United States' reintroduction of Section 232 tariffs on imports from Canada, according to Aluminum Association president and chief executive officer Tom Dobbins. Citing the latest government data from the US Census Bureau, Dobbins noted that US imports of primary aluminium from Canada were nearly 5% lower in...Read More
Domestic prices for hot-rolled coil in Northern Europe increased day on day on Thursday August 6, despite the seasonal market slowdown, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?415.00 ($491.66) per tonne on Thursday, up by ?,?0.83 per tonne day on day from ?,?414.17 per tonne on Wednesday.Thursday's index was...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesPerth-based corporate advisor Liam Twigger, who joined the SolGold board last year, has been appointed as chairman of SolGold.Read More
Chilean copper commission Cochilco has increased its forecast for the average copper price this year to $2.62 per lb, from $2.40 per lb previously, due to the recovery in the Chinese economy and a drop in inventories, it said on Thursday August 6.For next year, however, Cochilco has reduced its average copper price estimate to $2.85 per lb, from the $2.90 per lb it published in its previous market...Read More
The three-month nickel price on the London Metal Exchange was higher at the close of trading on Thursday August 6, nearing resistance at $14,500 per tonne despite moderate turnover, while lead futures continued to rise against a positive forward curve.Nickel's outright price on the LME closed at $14,478 per tonne on Thursday afternoon, climbing from an intraday low of $14,290 per tonne, while turn...Read More
Aluminium prices on the London Metal Exchange were trading consistently higher than $1,700 per tonne this week, for the first time since the start of 2020. But with market fundamentals poor, and a challenging global macroeconomic backdrop going into 2021, market participants were uncertain whether the uptrend would be sustainable.The three-month aluminium price rose to $1,782.50 per tonne on Wedne...Read More