Turkish domestic rebar and wire rod prices have gone down on the strengthening of the country's lira, although demand was very poor in the summer holiday period, sources said on Thursday August 1.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was TRY2,980-3,020 ($536-544) per tonne on Thursday, down from last week's TRY3,080-3,100 per tonne.The price...Read More

Russia's largest steelmaker, Novolipetsk Steel (NLMK), has switched completely to the use of merchant steel slab supplies at its assets in the United States, rather than continue to import its own slab, because of the volatility in the market.The admission was made by Grigory Fedorishin, the company's president and chairman of the management board, during a conference call with media on Wednesday...Read More

Rough sales plummet due tolack of profit and liquidity squeeze. Midstream pressures caused by high 2017/18rough supply at inflated prices, combined with tighter inventory controls byretailers. Sightholders refuse goods as De Beers keeps prices stable at $250MJuly sight. Rio Tinto 1H diamond revenue -16% to $271M, loss of $5M. Polishedprices continue to soften, with July 1 ct. RAPI -0.9%. Rough pri...Read More

Someimprovement from last week, with more foreign buyers looking for goods. USdemand supporting the market. Manufacturers still under pressure andmaintaining low production levels. Not much buzz for next week's IIJS Mumbaishow, with gold-jewelry suppliers concerned about high gold price. Roughtrading slow after small De Beers July sight. RoundRead More

(IDEX Online News) - Once again, just like during the first half of the year, price developments in rounds in most sizes under a carat were mixed - and minor. However, the few price developments in sizes from 0.90 ct. up to three carats were positive, with the 1.00-1.24 carat range showing 2 to 3.5 percent rises in VVS1-VVS2 / EF and SI2 / DEF goods. In the 2.00 to 2.99 carat range, there were som...Read More

The Plumb Club will be hosting a webinar to help retail jewelers understand today's self-purchasing women. The webinar to be held on Tuesday, August 6th, 2019 at 2:00pm ET. It will cover topics such as: What do retail jewelers need to understand about women as consumers and purchase influencers?How should they be marketing to and communicating with them?How do women buy jewelry?What need...Read More

RAPAPORT... Alrosa's knack for recovering unusually shaped diamonds hasscaled new heights with the discovery of a rough stone resembling a fish. "In the photo, you see a very rare specimen: a rough-diamondcrystal which pretends to be a fish," the Russian miner wrote in an Instagrampost Wednesday announcing the find. As with its other similar hauls, Alrosa hooked the catch toa marketing goal, usin...Read More

LVMH reported strong earnings for the first half of 2019, generated by brands like Louis Vuitton and Dior. LVMH's earnings rose 15 percent in the second quarter of 2019, to $14 billion, with the largest growth coming from a 20 percent increase in the fashion and leather goods sector. Asia proved profitable in particular as the region generated  at third of LVMH's overall reven...Read More

The USA's National Retail Federation and GfK (Growth from Knowledge) a digital research agency, have produced and published a white paper, entitled "Decoding the Personalization Paradox." The paper is to help retailers and brands apply "personalization at scale." and allows its users to learn more about consumers' needs, desires and concerns about targeting and personalization and how ma...Read More

RAPAPORT... Weak rough prices pushed Rio Tinto's diamond unit into thered in the first half of the year, the miner reported Thursday. The division recorded a net loss of $5 million for the sixmonths ending June 30, compared with a profit of $55 million a year ago. Diamondsales fell 16% to $271 million for the period. Production dropped 10% to 8.3 million carats, primarily dueto a 13% decreas...Read More

Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The time is right for the mining industry to invest in new projects. The fundamentals are clear: we forecast supply gaps across a number of key commodities by 2028.Investors are understandably concerned that the mining industry will r...Read More

RAPAPORT... UK-based synthetic-diamond-jewelry retailer Lark & Berryhas hired Paul Ziff as its brand manager for North America. Ziff was previously a brand president at both Richemont andLVMH, and has held executive positions at Ralph Lauren Watch and Jewelry,Zenith Watches, and Ferragamo Timepieces. He will be responsible for helping tolaunch Lark & Berry's products in the North Amer...Read More

The Angolan government is to launch a public tenderprocess during the remainder of this year for five mining concessions. These will be for diamonds, iron-ore and phosphates. This was announced late last month by the country’s Mineral Resources and Petroleum Minister, Diamantino Azevedo, during a visit to the city of Moçamedes (capital of Namibe province), the Macauhub news agency rep...Read More

Brazilian miner Vale is operating at capacity for 340-345 million tonnes per year of iron ore production following the restart of its Brucutu mine and partial resumption at Vargem Grande, ferrous director Marcelo Spinelli told analysts and investors during a conference call on Thursday August 1.Meanwhile, the company is working with Brazilian mining agency ANM to further increase output through dr...Read More

The gender gap in the mining industry will widen if it does not invest in attracting more women to associated careers, in view of the quickly evolving roles and skills required by the industry, particularly owing to Industry 4.0, says diamond company De Beers Group.“There is no doubt that the mining industry will benefit from being more diverse and inclusive, as this leads to greater resilie...Read More

Brazilian miner Vale reported adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) down by 20.05% year-on-year in the second quarter of 2019, in a statement late on Wednesday July 31.The fall in earnings was because of provisions made to pay reparations for a tailings dam disaster, although these were partially compensated by higher iron ore prices.Vale's adjusted Ebitd...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

HARARE – Zimbabwe will repeal its indigenisation and economic empowerment legislation dealing with ownership of foreign-controlled companies and replace it with a new empowerment law, Finance Minister Mthuli Ncube said on Thursday.Addressing parliament, Ncube also said foreign investors can now take majority stakes in the platinum and diamond sectors.AdvertisementThe empowerment law ado...Read More

Low-price transactions amid "panic selling" drove down market levels for premium hard coking coal on Thursday August 1. Deals were concluded at $169-170 per tonne cfr China for premium mid-vol brands late on July 31, while another trade involving similar materials took place at $167 per tonne cfr on Thursday, according to sources. Those compared with a trading level of $180 per tonne cfr heard for...Read More

TSX-V-listed junior Tango Mining, which operates the Oena diamond mine in South Africa, will sell its metallurgical coal and mining projects to focus on its diamond properties, it announced on Tuesday.The company owns a 74% interest in each of Kwena Mining Projects, Kwena Mining and Metallurgical Services and Kwena Springlake Projects.AdvertisementTango will sell the Kwena group to a director, Kev...Read More