Base metals prices other than tin and lead had rebounded by the kerb close on the London Metal Exchange on Monday July 29 despite thin trading volumes and a stronger US dollar index.After a cautious start to the day, most of the base metals made gains in anticipation of tomorrow's trade meeting between the United States and China, the release of Chinese economic data and a Federal Open Markets Com...Read More

Consumers are starting to pay a premium for aluminium produced with lower carbon emissions and a limited environmental impact, according to the chief executive officer of Norsk Hydro. The Norwegian aluminium producer is starting to see traction for its green aluminium products, which include brands Hydro 4.0 and Hydro 75R, Hilde Merete Aasheim told Fastmarkets."We'd really like to build on this go...Read More

The continued closure of the import arbitrage window to China and the lingering absence of Nyrstar's Port Pirie from the market triggered a rise in treatment charges for lead concentrates over July, while TCs for zinc concentrates also rose.Fastmarkets assessed low-silver spot lead concentrate TCs at $30-50 per tonne cif China on July 26, up from $20-30 per tonne a month earlier. Spot TCs for high...Read More

The discount for No2-grade copper scrap in China widened this month on higher availability because Chinese buyers have quickly used up the import quotas granted by the government.The value for copper scrap No2 copper (birch/cliff), imported into China, 94-96%, LME/Comex discount, cif China, was $0.32-0.36 per lb on Monday July 29, compared with $0.29-0.35 per lb on June 24.Scrap material from Sout...Read More

Merchant bar quality (MBQ) steel prices in the United States remained flat month over month, although some sources reported seeing improved market activity in certain regions of the country.Fastmarkets monthly assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US, remained at a 16-month low of $33.80 per hundredweight ($676 per short ton) on Friday July 26 after falling...Read More

Mexican integrated steelmaker Altos Hornos de Mexico (Ahmsa) posted a 22.9% year-on-year decline in second-quarter steel sales volumes, while its average selling price fell by 13.3% in the same comparison.Steel sales volumes totaled 759,205 tonnes in the second quarter compared with 984,524 tonnes in the same period last year, Ahmsa said in its quarterly earnings report on Friday July 26. Its...Read More

The Saudi Arabian government is planning to impose a new export duty on steel rebar, market participants told Fastmarkets on Monday July 29.No official announcement about a new duty had been made before the story was published in a local newspaper, which quoted a spokesperson from the Ministry of Commerce & Investment saying that the government will impose the duty soon.The...Read More

Slower buying activity and lower bids from customers have forced CIS wire rod suppliers to reduce their export offer prices at the end of this month, Fastmarkets learnt on Monday July 29.Russia-origin wire rod was available to foreign customers at $490 per tonne fob Black Sea, down by $10 per tonne week on week. A European trader was bidding around $485 per tonne fob. But this price was rejected b...Read More

RAPAPORT... Robyn Hawk, who authored a number of blogs on the jewelryindustry, passed away on July 16 at the age of 63 following a stroke.  Dubbing herself a "serial blogger," Hawk, who graduated fromthe Gemological Institute of America (GIA) in 2009 with a degree in gemology,diamonds, colored stones and pearls, wrote for the Tucson Gem Show and postedarticles on the jewelry industry in...Read More

RAPAPORT... The war on conflict diamonds will remain at a standstilluntil the industry can agree on what constitutes systemic violence, accordingto World Federation of Diamond Bourses (WFDB) president Ernie Blom. The lack of agreement on the matter is preventing Africanproducing nations from accepting a broadened definition of conflict stones, asthey fear it might fuel unfair treatment agains...Read More

RAPAPORT... Alex and Ani has filed a $1.1 billion lawsuit against Bankof America, claiming its gender bias and greed have driven the jewelry company toward bankruptcy. Last year, the bank declared the company had defaulted on its revolvingloan, even though it was meeting all the terms of its line-of-credit agreement,Alex and Ani alleged in the suit, filed in a New York district court July 25....Read More

RAPAPORT... The Dubai Diamond Exchange (DDE) will soon unveil its renovated center for rough and polished diamond tenders, the bourse reported Saturday."The DDE is currently under renovation," the exchange said. "Once complete, it will be one of the biggest tender floors in the world with 40 tables, fully secured with cameras and specialist lighting for buyers to examine diamonds and precious...Read More

Import prices for steel slab in Southeast Asia and East Asia rose over the past week after producers raised their asking prices because of high raw material costs, market sources said.The price hikes were expected because of the rise in the iron ore price, source in Southeast Asia said.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, was $118.31 per tonne on July 26, up $1.31 per tonne f...Read More

China's hot-rolled coil sellers cut prices on Monday July 29 amid weak demand, while the news that the government will exempt some companies from winter production cuts also weighed on market sentiment.DomesticEastern China (Shanghai): 3,830-3,840 yuan ($557-558) per tonne, down 20-30 yuan per tonneNorthern China (Tangshan): 3,820 yuan per tonneSpot prices nationwide dropped following lo...Read More

Hot-rolled coil prices in Asia were mostly down this week due to ample supply of prompt and September-shipment materials.Fastmarkets' steel HRC import, cfr Vietnam assessment - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $510-520 per tonne cfr for the week ending Monday July 29, down $5 per tonne from $515-525 per tonne a week ea...Read More

RAPAPORT... Firestone Diamonds saw a decline in sales during its fiscal fourth quarter due to a drop in demand for small, lower-value diamonds that make up the bulk of its supply.The company reported sales of $12.7 million for the three months that ended June 30, representing a decline of 32% from the previous year. Sales for the fiscal year fell 9% to $56.9 million, according to Rapaport rec...Read More

Import prices for rebar in Singapore were unchanged on limited spot trading in the past week.The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $485-495 per tonne for the week to Monday July 29, unaltered from the previous week.High inventory levels, especially...Read More

Avraham Eshed, a veteran Israeli diamond manufacturer, was named an Israel Diamond Industry Dignitary for the year 2019. The biennial Israel Diamond Industry Dignitary Awards aim to recognize and honor those men and women who have advanced and promoted Israel's diamond industry, at home and abroad. Eshed, who is both a manufacturer of large diamonds and high-value colored gemstones, follows i...Read More

The Angolan government hopes that the return of licenses to more than 200 companies and semi-industrial diamond mining cooperatives in seven provinces of Angola will allow for the creation of at least 20,000 jobs, Andr?? (C) Buta , the national director of Mineral Resources said.Buta, who spoke at the end of the delivery of 31 of the 81 licenses for semi-industrial exploration planned for Lunda No...Read More

RAPAPORT... Consumers prefer to shop in-store, and spend more on jewelrywhen buying in brick-and-mortar than when purchasing online, a study by Citibank's Citi Retail Services found. "As jewelry is such a personal item, buying in-store largelyprovides consumers with the confidence that comes after physically viewing andhandling a product," Leslie McNamara, chief marketing officer and head ofw...Read More