The Jewelers Board of Trade (JBT) said in ia recent report that in the second quarter of the year, 185 jewelry businesses had ceased operations, constituting a 21 percent drop compared to the second quarter of 2018. Among those 185 closures, 135 were retailers and 36 wholesalers and 14 jewelry manufacturers.  In general, the rate of companies closing is slowing down. JBT noted that at the end...Read More

Jewelry designers and manufacturers Alex and Ani LLC is suing Bank of America Corp. for more than $1 billion in damages and alleging discrimination. The female-led company argues that the bank fraudulently declared it in default of a $50 million line of credit last year and that it consequently is driving the jewelry firm toward bankruptcy. Bloomberg noted that this development is a "stark turnar...Read More

Despite being on the radar for many years, illegal mining remains a dangerous, unregulated concern for South Africa’s mining industry and the wider economy.Illegal artisanal mining in South Africa is among the most lucrative and most violent in Africa, and the practice is deemed one of the biggest sources of illicit gold on the continent.AdvertisementIt is estimated that about 30 000 illegal...Read More

Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumGEM analysed 194 mine development projects undertaken between 1994 and 2014 and found coal projects had the biggest overruns at 32% followed by gold at 31% and copper at 28%. In addition to cost overruns, the study found development time also overran by an average of eight months."These are associated to a mix of variabl...Read More

Joint venture partner and operator Newcrest Mining reported results from 2,800m of drilling, which extended Greatland's HAD006 from 838m to 1,216m and added two new holes, HAD010 and HAD011 had intersected high-grade mineralisation at depth.Highlights included 12m at 3.1g/t gold and 0.08% copper from 1,071m, and 52m at 7g/t gold and 0.17% copper from 1,122m, including 17m at 21g/t and 0.39% f...Read More

Look beyond market approach to project valuations: van ZylLeadershipThickened tailings deposition for closureSPONSOREDsrk consultingAustralian Vanadium targets growing energy-storage and steel marketsSPONSOREDaustralian vanadiumSaturn's high-grade discovery gives Apollo Hill a rocketSPONSOREDsaturn metalsMetal Tiger has agreed to invest A$500,000 for 15% of Cobre, and a further $2 million as p...Read More

Turkish steel mills have reported no bookings in the deep-sea scrap markets at the start of this week although they were still need to buy more material for August, sources said on Monday July 29.After booking four deep-sea cargoes last week, the mills stepped out of the deep-sea markets because of weak demand for finished long steel, those sources added."I believe the mills will need to buy few m...Read More

Turkish domestic scrap prices have remained unchanged over the past week because of the slowness of the finished steel markets in summer, sources said on Monday July 29.Almost all of the mills kept their buy prices for local scrap unchanged from the previous week.Only ID??, the long steel mill in the Izmir region,...Read More

Singapore Exchange's (SGX) 65% Fe iron ore derivative contract hit a monthly-traded volume of 2.0397 million tonnes as on Monday July 29, the highest since the contract's launch on December 3, 2018.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.99 per tonne, down $0.32 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $1117.91 per t...Read More

Seaborne coking coal prices dropped on Monday July 29, as offer and traded levels plunged.A premium mid-vol cargo changed hands at $168 per tonne fob Australia, market sources said during the day.On the Global Coal platform, an offer for a September-loading premium mid-vol cargo stood at $162 per tonne fob Australia, they added.Chinese buyers continue to hold a bearish outlook on prices amid restr...Read More

Seaborne iron ore concentrate and pellet prices retreated in the past week while the general iron ore market experienced corrections amid softer demand from China.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $119.41 per tonne last Friday July 26, down by $3.47 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines...Read More

Brazilian steel and iron ore producer Usiminas plans to sell a total of 9 million tonnes of iron ore this year, while production is expected to remain close to 8 million tonnes, chief executive officer of the company's mining unit, Carlos H?(C)ctor Rezzonico, said on Friday July 26.Last year, Usiminas's mining division produced 5.65 million tonnes of iron ore and sold a total 6.47 million tonnes.T...Read More

With economic growth still deteriorating - the United States’ second quarter gross domestic product (GDP) came in at 2.1%, compared with 3.1% in the first quarter - the markets have little to cheer about this morning, Monday July 29.Economic headwinds, geopolitical tension in the Middle East and in Hong Kong, combined with some record equity levels make for an unstable market platform. A like...Read More

Base metals prices traded on the London Metal Exchange were largely down during the morning session on Monday July 29, despite inventory outflows seen across all of the metals as of 9am on the same day.Only the LME three-month zinc price gained any ground this morning, trading up by 0.6% from Friday's kerb at around $2,454 per tonne.Market sentiment indicates that the complex's price movement cont...Read More

With economic growth still deteriorating - the United States' second quarter gross domestic product (GDP) came in at 2.1%, compared with 3.1% in the first quarter - the markets have little to cheer about this morning, Monday July 29.Economic headwinds, geopolitical tension in the Middle East and in Hong Kong, combined with some record equity levels make for an unstable market platform.A likely US...Read More

U.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point in pre-opening trade. Mylan jumped $3.37to $21.80 after the company announced a deal to merge with Pfizer's Upjohn division.Cooper Tire (CTB $30.47) is expected to open lower after lower than consensus second quarter revenues and earnings. The company also lowered guidance. Goldman Sachs is expected to open high...Read More

With the exception of zinc, base metals prices on the Shanghai Futures Exchange were down during the morning trading session on Monday July 29, dragged down by a firm dollar and trade uncertainty. US-China trade talks restart later today - the first face-to-face discussions since the countries' presidents met in Japan at the end of June - but expectations for a deal are low after White House econo...Read More

Concerns about a possible round of auction for indium stocks held by the defunct Fanya Metal Exchange in the coming months re-emerged among Chinese market participants after the Southwest China's Kunming Superior People's Court announced the second trial result in an open court on Friday July 26, Chinese state news agency Xinhua reported.Kunming Superior People's Court decided to uphold the earlie...Read More

Key data from the pricing sessions in Asia and Europe for the week ended Friday July 26 ChinaKey drivers The Chinese silicon export price has stabilized after a run of losses, with signs of stability in underpinning domestic market sentiment. The domestic market is reaching a floor, with silicon refiners tightening the spot material supply in response to continuing profit losses.Secondary aluminiu...Read More

Spot cobalt prices continued to grind lower in the international market in the week ending July 26, with traders showing a limited appetite to restock despite prices sitting at multi-year lows. Fastmarkets assessed the alloy-grade cobalt price, in-whs Rotterdam, at $12.45-13 per lb on Friday July 26, a fall of 0.8% from the previous assessment. Fastmarkets assessed the price for standard-grade cob...Read More