RAPAPORT... Tango Mining has terminated its service agreement to mineand market diamonds from the Moquita project in Angola. The company, in September, signed on to finance the alluvial project, which is located just north of Lucapa's Lulomine. While it did not own a stake in the project, Tango agreed toprovide services to the project's owner, Cooperativa Mineira Do Moquita, inexchange for 60...Read More

RAPAPORT... Swiss watch exports rose in July driven by a rebound in growth in China and the Asia-Pacific market. "Swiss watch exports returned rapidly to growth followingthe downturn in June," the Federation of the Swiss Watch Industry reportedTuesday. "Hong Kong remained in the red, but performed significantly betterthan it had in June." Shipments rose 4.3% year on year to CHF 1.9 billion (...Read More

RAPAPORT... Blue Nile has appointed Sean Kell as CEO, ending its searchfor a permanent chief executive, the online jewelry retailer said Tuesday. Hereplaces Eric Anderson, a vice-president at parent company Bain Capital, who filledthe position in the interim since January, following the departure of JasonGoldberger. "As the engagement ring and fine jewelry industries continueto evolve, Sean's...Read More

While there is much talk in the U.S. media about a "retail apocalypse," the NRF published an article, based on a report that was released by IHL Group, named "Retail Renaissance - A Growth Story," pointing out, that [brick-and-mortar] retail stores "are definitely not going away." Quoting the IHL report, the NRF wrote that "for each company closing stores, 5.2 are opening stores. For every segment...Read More

Four U.S. gem and jewelry industry leaders - Phyllis Bergman, Ronnie VanderLinden, Jeff Fischer and Patti Geolat - joined the newly formed Zillion Jewelry Innovation Council as its founding members. These founding members have served on, and in many chaired, U.S. industry boards and organizations such as the Jewelers Board of Trade, American Gem Society, 24 Karat Club of NY, Women's Jewelers...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... The Diamond Development Initiative (DDI) has promoted IanRowe to executive director. He will replace Doroth?(C)e Gizenga, who will lead theorganization's new Africa office.  Rowe, who has served as deputy executive director of the DDIsince September 2018, was previously a director with the United Nations. He hasworked with civil-society organizations in the areas of development,so...Read More

Expectations that Turkish mills would return to the US ferrous scrap export market as soon as the Eid al-Adha religious holiday ended have not panned out, leaving sellers facing low bids for unsold material that has been piling up at the docks.Sluggish demand and weak orders for rebar have both worked to keep Turkey from resuming purchases.Mills in Turkey have offered to pay $270-275 per tonne for...Read More

Trading was quiet in the Turkish deep-sea scrap import markets, with most mills not showing any eagerness to buy material, and a few still bidding below the current offer prices, sources said on Wednesday August 21.A number of steel mills were staying out of the scrap import markets because of the weak demand for finished long steel products and billet, so the pressure on scrap prices was increasi...Read More

Seaborne iron ore prices dived further on Wednesday August 21, falling to a level last seen just after Vale's tailings dam accident in Brazil late in January.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $82.38 per tonne, down by $5.56 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $82.76 per tonne, down by $5.56 per tonne. Fastmarkets' index for i...Read More

Seaborne coking coal prices remained largely stable on Wednesday August 21, with buyers taking a wait-and-see approach.A branded cargo of premium hard coking coal was offered at $150 per tonne fob Australia on the Global Coal trading platform during the day, sources said.Steel mill sources in India highlighted the bleak downstream market conditions in the South Asian country, citing a liquidity cr...Read More

China's hot-rolled coil prices continued to fall on Wednesday August 21 due to thin trading despite gains in the futures market later in the day.DomesticEastern China (Shanghai): 3,690-3,710 yuan ($523-526) per tonne, down 20-30 yuan per tonneNorthern China (Tangshan): 3,700 yuan per tonne, down 20-30 yuan per tonneSpot prices dropped after mills lowered their offers by 30-50 yuan per tonne in res...Read More

China's rebar prices retreated in both the domestic and export markets on Wednesday August 21 on weaker demand. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($517-521) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,600-3,630 yuan per tonne, down 10-20 yuan per tonneBuyers cut their procurement rates further during the day amid an early round of decreases in the futures market,...Read More

The three-month nickel price traded on the London Metal Exchange approached $16,000 per tonne on Wednesday August 28 morning, trading around $15,970 per tonne during the morning session.LME base metals, despite holding modest gains, are expected to follow a lackluster trajectory today while they continue to track the global equities markets, but sources hope that the three-month nickel contract wi...Read More

The drone sound from the markets has not changed - no progress on United States-China trade talks, continued economic headwinds and various simmering geopolitical concerns.The fact there is more central bank and government talk about monetary easing and the need for stimulus highlights the far from bullish situation the global economy is in and that is reflected in market sentimentAsian equity mar...Read More

Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumKGHM said higher revenues for the first half of 2019 (US$2.86 billion) were due mainly to 22% better copper sales volumes and 45% more silver, and the stronger US dollar exchange rate, though metal prices, including for copper, were lower.The Lubin-headquartered company's first-half production has it on track to achieve...Read More

The drone sound from the markets has not changed - no progress on United States-China trade talks, continued economic headwinds and various simmering geopolitical concerns.The fact there is more central bank and government talk about monetary easing and the need for stimulus highlights the far from bullish situation the global economy is in and that is reflected in market sentimentAsian equity mar...Read More

Base metals prices on the Shanghai Futures Exchange were broadly under pressure during morning trading on Wednesday August 21, with market sentiment deteriorating amid negative headlines surrounding the United States-China trade dispute. On Tuesday, US Secretary of State Mike Pompeo said that China's Huawei Technologies and other Chinese companies pose a threat to national security and that the US...Read More

Terramin leads gold-copper revival in South AustraliaSPONSOREDterramin australiaNew mineral sands miner polishes its ImageSPONSOREDimage resourcesAustralian Vanadium targets growing energy-storage and steel marketsSPONSOREDaustralian vanadiumThickened tailings deposition for closureSPONSOREDsrk consultingThe results from the first hole and top 200m of the second have identified zones of higher-gra...Read More

An overview of the minor metals markets and their latest price moves.Read More