The three-month nickel price on the London Metal Exchange declined during morning trading on Tuesday August 20, holding below $16,000 per tonne while aluminium futures moved higher.Recently trading around $15,800 per tonne, nickel's price action dipped by some 2% at Monday's close to settle at $15,920 per tonne. Volumes traded over the morning were thin, with some 1,100 lots of nickel changin...Read More

The development of the Kamoa-Kakula copper mine in the Democratic Republic of the Congo (DRC) will receive a financial boost following a second major strategic equity investment by China's Citic Metal in Canadian mining company Ivanhoe Mines.The mine is jointly owned by Ivanhoe Mines, Citic Metal and China's Zijin Mining.The Canadian $612-million ($459-million) investment brings Citic Metal's inve...Read More

Concerns about weak economic data, geopolitical headwinds and the risk of a slow slide toward global recession are dominating market sentiment; short-term relief may come from more concerted central bank stimulus, but the real cure will only likely come from a new trade deal.Equities and bond markets will no doubt react positively to easier monetary policy, but the metals are unlikely to be hoodwi...Read More

RAPAPORT... The Jewelers Board of Trade (JBT) has appointed Erich Jacobspresident. He will succeed Richard Weisenfeld, who is retiring. Jacobs joined JBT in 2018 as vice president of informationtechnology, JBT said lastweek. Weisenfeld first became acting presidentin February 2018, following the retirement of Anthony Capuano, and took on the role permanently in May of that year. Jacobs will...Read More

RAPAPORT... Shares in Pandora rose 10% in early trading Tuesday as salesdeclines narrowed in key markets and restructuring efforts led to signs ofrecovery. Global sales fell 2.6% year on year to DKK 4.69 billion($697.2 million) in the second quarter, the Danish charm maker reportedTuesday. Same-store sales - at locations open for more than a year - fell 6% in the US, while sales in China slip...Read More

RAPAPORT... J.C. Penney and Macy's noted strong sales in their jewelrydivisions in the second fiscal quarter, even as overall results were disappointing."Our fine-jewelry business continues to deliver strong salesresults," J.C. Penney chief financialofficer Bill Wafford said last week on an analyst call transcribed by SeekingAlpha. Comparative-store sales for the division increased, he added....Read More

Prices for steel rebar and billet in the United Arab Emirates have remained stable over the past week, with demand poor after the Eid al-Adha religious holiday last week, sources said on Tuesday August 20.Market participants believed that demand would improve after the UAE's biggest producer, Emirates Steel, announced its new rebar price, which it usually does on the 20th day of each month.Domesti...Read More

RAPAPORT... Sotheby's has collaborated with Chinese jewelry designer Anna Hu on a five-piece collection featuring a 100-carat, fancy-intense-yellowdiamond necklace. Hu's Silk Road Music Collection will go under the hammer atthe October Magnificent Jewels and Jadeite auction in Hong Kong, with theDunhuang Pipa piece leading the sale. Inspired by the image of a lady playingthe pipa -a four-stri...Read More

RAPAPORT... Alrosa has reduced its sales forecast for this year in light of sluggish rough demand in the second quarter.The company expects to sell between 32 million and 33 million carats of rough diamonds for 2019, compared to its previous plan of 38 million carats, it said Monday."The diamond market continued to be affected by a number of negative factors [in the second quarter] that had f...Read More

The principal flat steel suppliers to Russia's Central Federal District around Moscow kept their prices unchanged this week despite a slowdown in demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was unchanged at 45,100-45,500 roubles ($676-681) per tonne on Monday August 19, including 20% VAT. "Mills are citing pla...Read More

From left: Michael Goren, VP Global Sales & Marketing at Sarine; Mehul Shah, VP BDB; Ramniklal Shah, Founder of Venus Jewel; Ms Rajeshwari Mehta, VP Business Development at Sarin India; and Yoav Efrat, Managing Director at Sarin India   Sarine Technologies Ltd. launched its Sarine Lab Services on August 12th with a grand opening event at the Bharat Diamond Bourse (BDB). Established on th...Read More

The European Commission (EC) proposed some adjustments to the existing safeguard measures for steel product imports in Europe to the World Trade Organization (WTO) on August 14, Fastmarkets has learned.The definitive safeguard mechanism already in place increases the level of tariff-free quotas for each product category by 5% annually. The first liberalization took place on July 1, 2019, which was...Read More

The Plumb Club announced it had completed analyzing attendance statistics for its brand-new pavilion at this year's JCK Las Vegas Show. While an increase was expected, the results were record breaking. Based on badge scans of attendees entering The Plumb Club Pavilion Caf?? (C) throughout the show, total retailer visits were up 46 percent year on year. "The numbers far surpassed what we had...Read More

During Q2 of 2019, Lucara's revenue totaled $42.5 million, realizing $417 per carat. This constitutes a drop of 35 percent compared to $64.5 million realized in the second quarter of 2018, when the price per carat sold stood at $856 per carat. Lucara stated the sales figures were consistent with its management's expectations and plans. "A strong operating environment prevailed at the Ka...Read More

Macauhub reported that the Angolan state diamond trading company Sodiam reported a gross revenue of $232.8 million in the second quarter of 2019. The company said it had sold 1.5 million carats at an average price of $ 155.3 per carat. Sodiam's revenue dropped to $135.8 million in the second quarter compared to the first quarter, because Sociedade Mineira do Catoca, the largest Angolan produc...Read More

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil declined during the week to Tuesday August 20 after steel mills lowered their asking prices.The move failed to boost market activity, however, because of a bearish market sentiment and expectations that prices will reduce further, market sources said.Cold rolled coilFastmarkets' weekly price assessment for steel cold-rolled...Read More

Pandora, a world leading manufacturer and marketer of hand-finished, contemporary fashion jewelry, announced it is making good progress toward the brand's relaunch on 29 August. Pandora jewelry, which has become known for its high-quality materials and affordable prices, is sold in more than 100 countries on six continents through more than 7,500 points of sale, including more than 2,700 conc...Read More

China's domestic hot-rolled coil prices retreated on Tuesday August 20, which led some producers to lower their export offers to secure more orders by the end of the month.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($528-529) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,720-3,730 yuan per tonne, widening downward by 10 yuan per tonneSpot prices retreated after trading acti...Read More

RAPAPORT... Albert Milton, managing director of De Beers'Botswana joint venture, has died, the company said Friday. Milton passed away early Friday morning after becomingunwell Thursday night in Johannesburg, where he was admitted to the hospital. "De Beers is shocked and saddened by the sudden death ofAlbert Milton," the miner said. "We extend our deepest condolences to Albert'sfamily, rela...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