Sentiment was soft in the CIS export slab market in the first week of August, with modest demand from major buying outlets as well as weaker sales of finished flat steel both in customers' markets and domestically."I do not think mills will be able to hold prices at their current level any longer. The slab market is very soft," one trader told Fastmarkets on Monday August 5.A recent booking of Rus...Read More

Here are five Fastmarkets MB stories you might have missed on Monday August 5 that are worth another look.The United States will impose additional tariffs on Chinese goods entering the country from the start of September, according to US President Donald Trump, which could hit shipments of metals and minerals from China to the US and suppress commodity consumption in the former. JSW Steel (US...Read More

Australian multi-metals miner Mincor Resources has signed a nickel-ore tolling and concentrate agreement with Anglo-Australian miner BHP Billiton, the companies announced on August 5.The agreement will give Mincor nickel-processing and sales rights to Nickel West, BHP Billiton's nickel-mining operation in the Kambalda district of Western Australia, specifically the right to process 600,000 tonnes...Read More

Tin's three-month price on the London Metal Exchange declined during morning trading on Monday August 5, maintaining its downward price action while nickel futures traded higher.Reaching an intra-morning low of $16,800 per tonne from a high of $17,025 per tonne, tin's futures price is down by some 1.3% on the day with just over 60 lots traded as of 9:05am London time. Selling pressure began t...Read More

Sentiment in financial markets continues to weaken following last week's collapse of US-China trade talks and US president Donald Trump's latest threat of tariffs on Chinese goods.Equities in Asia tumbled this morning, Monday August 5, and the yuan has dropped below seven to the dollar - the first time since 2008. Weakness in Asian currencies suggests wide-scale market unease. Gold price reaches a...Read More

Aluminium alloys from China will be subject to at least 20% in tariffs by September while for hundreds of steel products it will be at least 35% if the latest round of tariffs threatened against China take effect, sources indicated to Fastmarkets.That is because the new tariffs US President Donald Trump signaled against China will be on top of the Section 232 tariffs under an earlier act that cove...Read More

Base metals prices on the Shanghai Futures Exchange were little changed to down during morning trading on Monday August 5, with the complex coming under pressure from heightened US-China trade tensions and stock inflows at the end of last week. Investors have broadly taken a risk-off approach to trading this morning, awaiting a potential retaliatory response from China after US President Donald Tr...Read More

Plate prices in the United States were again unchanged during the week to Friday August 2, despite domestic plate mills' attempt to raise prices by $40 per short ton ($2 per hundredweight), which was announced a week before.Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US, held at $35.50 per wt ($710 per ton) on August 2, where it has remained since July 1...Read More

Import prices for steel slab in Southeast Asia and East Asia nudged downward over the week to August 5 because of poor demand in both regions.During the week, one cargo involving at least 70,000 tonnes of slab and billet produced in Iran was booked at $415-420 per tonne cfr Southeast Asia for September shipment. Iranian prices are excluded from Fastmarkets' assessment, however, because they fall b...Read More

Uncertainties surrounding the trade war between China and the United States sapped trading activity in both the futures and physical markets for Chinese rebar on Monday August 5, resulting in prices falling further.Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($546-551) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,730-3,760 yuan per tonne, down 20 yuan per tonneSeveral analy...Read More

RAPAPORT... Prices of pink fancy-color diamonds outperformed other majorcolor categories during the second quarter, the Fancy Color Research Foundation(FCRF) said. Prices of pinks rose 0.4% quarter on quarter for the threemonths ending June 30, according to the FCRF, which released its quarterlyFancy Color Diamond Index (FCDI) last week. By contrast, prices of blue fancy-color diamonds decli...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, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More

RAPAPORT... The Israel Diamond Manufacturers Association last week honored 12 individuals for their contribution to the industry.The ceremony, which occurs every two years, bestowing the title "Israel Diamond Industry Dignitary 2019," took place on July 28 in the presence of government ministers and diamond industry leaders. Most of the recipients are diamantaires, although the list also incl...Read More

China's hot-rolled coil prices fell further on Monday August 5 on weak demand caused by pessimism sparked by the country's trade tensions with the United States.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($536-537) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,750 yuan per tonne, down 30 yuan per tonneDespite mills keeping their official ex-works prices steady, thin trading...Read More

RAPAPORT... Global demand for gold jewelry rose 2% year on year to 531.7tonnes in the second quarter amid an expansion of the Indian market, theWorld Gold Council (WGC) reported. Appetite for gold jewelry in India climbed 12% to 168.6tonnes in the three months ending June 30, the highest increase in two years. Thequarter contained 37 days considered auspicious in India for getting married, compare...Read More

The Dubai Diamond Exchange (DDE), a subsidiary of DMCC, facilitated three separate tenders that were issued by Rappaport, Stargems and Trans Atlantic Gem Sales (TAGS). On offer were both rough and polished diamonds. "It has been a challenging year for the diamond industry overall. However, the success of these tenders shows that there remains healthy demand for rough diamonds if the quality and pr...Read More

On occasion of the 50th anniversary of the Orapa Letlhakane and Damtshaa mines, Botswana's Weekend Post interviewed Bakani Motlhabani, General Manager of Debswana, the firm that manages, among others, the famous Orapa Mine, one of the world's largest diamond mines. Debswana 50 year's celebrations were hosted at its Gaborone head office. In his remarks, Motlhabani explained that dia...Read More

Jewelers of America (JA), held its first National Convention, an education-focused executive forum for jewelry professionals, on July 28-29, 2019, at the InterContinental New York Barclay in New York City. The event Convention featured four dynamic keynote speakers, thought provoking breakout sessions, an informative Diamond Detection Lab and interactive Retail Innovation Lab. Attendees came from...Read More

RAPAPORT... Revenue from the retail division of Warren Buffett'sBerkshire Hathaway increased 2.5% to $4.03 billion in the second quarter, thecompany reported Saturday. The improvement in the division, which includes jewelrychains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, was buoyed in largepart by the company's car business, including sales of pre-owned vehicles, automotive financi...Read More

Since the beginning of the year, diamond prices have declined very slightly, as reported in IDEX's Polished Diamonds Price Index. While the diamond market is subdued, it should be noted over the past four years, polished diamond prices have been very stable and that, during the 48 months of our reporting, they have decreased just a little more than two percent. As usual in the summer months,...Read More