Quieter market conditions in the United States ahead of Labor Day in early September caused the US zinc premium to fall on the top end of the range on Tuesday August 27, while increased demand for secondary lead due to the smelter shutdown at Port Pirie supported the secondary lead premium in Taiwan. US zinc premium slightly down amid thin spot trades ahead of Labor Day holiday. European, A...Read More
RAPAPORT... New York-based startup Pietra believes it has found the answer to personalizing the online jewelry-buying experience. The company, which is backed by celebrated investor Marc Andreessen along with funds connected to Robert Downey Jr and Will Smith, last week launched Pietra Studio, an online fine-jewelryplatform that directly connects consumers with leading designers to create cus...Read More
Management of the September Hong Kong Jewellery & Gem Fair said that preparations for what is known as world's leading jewelry marketplace - are in full swing. The event will be held from September 16 to 20 at the AsiaWorld-Expo (AWE) and from September 18 to 22 at the Hong Kong Convention & Exhibition Centre (HKCEC). Show organizer Informa Markets said that beyond the show floor, the...Read More
The Gemological Institute of America (GIA) announced that its senior vice president and chief marketing officer Kathryn Kimmel will retire from GIA at the end of August, after 29 years with the organization. Kimmel played a key role in shaping the Institute's domestic and international marketing, public relations and communications outreach efforts. She steered the launch of GIA's digita...Read More
The Bank of Namibia said on Tuesday it expected the domestic economy to fall into a deeper contraction of 1.7% during 2019, down from its initial estimate of 0.3% positive growth in April.The central bank said the economy was expected to recover to positive growth of 0.8% and 1.2% in 2020 and 2021, respectively.AdvertisementThe projected 1.7% contraction of 1.7% for 2019 represents a further deter...Read More
In one of its shortest press announcements ever, De Beers published the results of its seventh sales cycle - what the diamond industry and trade continues to call a "sight." The seventh sight generated $280 million, a whopping 44 percent less than the $503 of the same cycle in 2018. The current sales number is slightly higher than the $280 in the sixth cycle. Bruce Cleaver, CEO, De Beers Group,...Read More
Llewellyn Delport has resigned as CEO of diamond exploration, mining and marketing company Trans Hex, effective August 31.The Trans Hex board thanked Delport for his contribution to the company since 2004.AdvertisementNonexecutive chairperson Marco Wentzel will serve as executive chairperson of the company until a suitable candidate is found to succeed Delport as CEO. AdvertisementRead More
The price of mesh-quality steel wire rod in the European domestic market was unchanged this week, although soft demand could put pressure on prices in the coming weeks, Fastmarkets heard on Wednesday August 28.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?485-510 ($538-566) per tonne on Wednesday, unchanged week on week.Meanwhil...Read More
The price of steel rebar in the domestic market of Southern Europe was unchanged this week with trading yet to emerge from the traditional August slump, sources told Fastmarkets on Wednesday August 28.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was unchanged week on week at ?,?470-485 ($522-538) per tonne on Wednesday.While...Read More
The price of steel rebar in the Northern European domestic market was stable this week despite activity beginning to pick up following the traditional August slowdown, Fastmarkets heard on Wednesday August 28.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?500-520 ($555-577) per tonne on Wednesday, unchanged week on week.Some trad...Read More
Iranian export prices for steel billet and slab slipped in the week ended Wednesday August 28 amid a general downtrend in the global steel market as well as pressure from customers, with bids placed at lower levels on the lack of trading activity for finished steel.Iranian billet was available to foreign customers for around $375-380 per tonne fob, down from $385-387 per tonne fob a week earlier.I...Read More
Rebar prices in Russia's major steel-consuming region, the Central Federal District, went down over the week ended Tuesday August 27 because of high supply volumes combined with falling demand.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 37,000-38,000 roubles ($557-572) per tonne on Tuesday, down from 39,000 roubles pe...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumRevenue fell by $111 million to $419.2 million and underlying EBITDA was down $127.4 million to $162.5 million.Read More
Demand worries still dominate sentiment in the base metals Most base metals are continuing to trade sideways-to-lower as they wait for fresh developments to improve the macro picture and their demand-side fundamentals. After last week’s Jackson Hole symposium and the weekend’s G7 meeting failed to provide much of a boost, yesterday’s news from China that the government is considerin...Read More
Turkish steel mills took a break from deep-sea scrap purchasing on Wednesday August 28, after booking a number of cargoes for September delivery over the past week, sources told Fastmarkets.Most recent bookings involved US and UK cargoes sold at $270 per tonne cfr for HMS 1&2 (80:20), dragging the daily indices down by almost $12 per tonne on Tuesday, August 27.But market participants were expecti...Read More
LME aluminium continues to trade sideways... LME aluminium price action appears unwilling to trade out of the current tight range of $1,750-1,800 per tonne despite recent cancellation of 21,800 tonnes from LME-registered warehouses in Port Klang and Singapore on Thursday August 22. ...but SHFE at 10-month high on supply disruptions However, the Shanghai Futures Exchange most-traded October contrac...Read More
Aluminium LME aluminium price action closed with a negative daily candlestick on Tuesday August 27. The light metal was under strong selling pressure from the declining 20 DMA and, with short sellers still the dominant force in the complex, a revisit towards the August 2019 low of $1,745 per tonne looks highly possible in the coming days. Its technical indicators, the daily RSI and stochastic...Read More
Physical iron ore prices changed only slightly on Wednesday August 28, while market participants continued to wait for further news about production restrictions in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.45 per tonne, up by $0.10 per tonne.62% Fe Pilbara Blend Fines, cfr Qingdao: $82.83 per tonne, up by $0.10 per tonne.62% Fe low-alumina fines, cfr Qingdao: $81.16 per ton...Read More
The fundamental picture of the refined copper market tightens this year The ICSG estimates that the refined copper market was in a deficit of 190,000 tonnes in the first five months of the year, compared with a smaller deficit of 131,000 tonnes in the same period of 2018. The slightly deeper deficit was the result of a stronger contraction in global refined output (-1%), which more than offset the...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreBHP, private tender, 110,000 tonnes of 57.1% Fe Yandi fines, traded at the September average of two 62% Fe indices, adjusted...Read More