RAPAPORT... The Israel Diamond Manufacturers Association last week honored 12 individuals for their contribution to the industry.The ceremony, which occurs every two years, bestowing the title "Israel Diamond Industry Dignitary 2019," took place on July 28 in the presence of government ministers and diamond industry leaders. Most of the recipients are diamantaires, although the list also incl...Read More

China's hot-rolled coil prices fell further on Monday August 5 on weak demand caused by pessimism sparked by the country's trade tensions with the United States.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($536-537) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,750 yuan per tonne, down 30 yuan per tonneDespite mills keeping their official ex-works prices steady, thin trading...Read More

RAPAPORT... Global demand for gold jewelry rose 2% year on year to 531.7tonnes in the second quarter amid an expansion of the Indian market, theWorld Gold Council (WGC) reported. Appetite for gold jewelry in India climbed 12% to 168.6tonnes in the three months ending June 30, the highest increase in two years. Thequarter contained 37 days considered auspicious in India for getting married, compare...Read More

The Dubai Diamond Exchange (DDE), a subsidiary of DMCC, facilitated three separate tenders that were issued by Rappaport, Stargems and Trans Atlantic Gem Sales (TAGS). On offer were both rough and polished diamonds. "It has been a challenging year for the diamond industry overall. However, the success of these tenders shows that there remains healthy demand for rough diamonds if the quality and pr...Read More

On occasion of the 50th anniversary of the Orapa Letlhakane and Damtshaa mines, Botswana's Weekend Post interviewed Bakani Motlhabani, General Manager of Debswana, the firm that manages, among others, the famous Orapa Mine, one of the world's largest diamond mines. Debswana 50 year's celebrations were hosted at its Gaborone head office. In his remarks, Motlhabani explained that dia...Read More

Jewelers of America (JA), held its first National Convention, an education-focused executive forum for jewelry professionals, on July 28-29, 2019, at the InterContinental New York Barclay in New York City. The event Convention featured four dynamic keynote speakers, thought provoking breakout sessions, an informative Diamond Detection Lab and interactive Retail Innovation Lab. Attendees came from...Read More

RAPAPORT... Revenue from the retail division of Warren Buffett'sBerkshire Hathaway increased 2.5% to $4.03 billion in the second quarter, thecompany reported Saturday. The improvement in the division, which includes jewelrychains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, was buoyed in largepart by the company's car business, including sales of pre-owned vehicles, automotive financi...Read More

Since the beginning of the year, diamond prices have declined very slightly, as reported in IDEX's Polished Diamonds Price Index. While the diamond market is subdued, it should be noted over the past four years, polished diamond prices have been very stable and that, during the 48 months of our reporting, they have decreased just a little more than two percent. As usual in the summer months,...Read More

RAPAPORT... Jewelers of America (JA) has elected Holly Wesche, athird-generation jeweler, to head its board of directors. Wesche, who is the owner of Wesche Jewelers in Florida, willsucceed outgoing chair John Henne, the organization said last week. She waspreviously president of the Florida Jewelers Association, speaker for theJewelers Education Foundation, and vice chair of the Leading...Read More

Turkish steel producers have not made any deep-sea bookings at the start of this week because of soft demand for finished long steel, sources said on Monday August 5.After the mills booked several deep-sea cargoes in the week ending July 26, they have backed out of the market."The mills in Turkey want to sell some [rebar] before resuming their...Read More

More deals have been made in the United States pig iron market at higher prices because of improved market fundamentals, sources told Fastmarkets during the week ended Friday August 2.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $365-368 per tonne on Friday, widening upward from $365 per tonne a week before.Bookings of Ukraine-origin pig iron for September shipme...Read More

Thickened tailings deposition for closureSPONSOREDsrk consultingNew mineral sands miner polishes its ImageSPONSOREDimage resourcesAustralian Vanadium targets growing energy-storage and steel marketsSPONSOREDaustralian vanadiumSaturn's high-grade discovery gives Apollo Hill a rocketSPONSOREDsaturn metalsThe miner was intending to make a construction decision for the project this year and had ap...Read More

Domestic scrap prices in the Turkish market fell slightly over the past week due to weak demand for finished steel, sources said on Monday August 5.Several steel mills in the Izmir region reduced their buy prices for auto bundle scrap by around 20-55 Turkish lira ($4-10) per tonne over the past week.Long steel mill...Read More

Seaborne coking coal prices fell further on Monday August 5 with more cargoes being sold at prices below those achieved last week.Another deal was heard concluded at $161 per tonne fob Australia for a top-ranked brand, the same price as was agreed for a similar cargo on Friday of last week.Another shipment of such product, scheduled for loading at the end of September, was traded at $173 per tonne...Read More

Seaborne iron ore prices tumbled for a second day on Monday August 5 amid pessimistic sentiment generated by China's ongoing trade war with the United States, which picked up in intensity toward the end of last week.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $100.56 per tonne, down $7.17 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $99.06 per...Read More

The 65% Fe iron ore derivative contract offered by the Singapore Exchange (SGX) registered record levels of open interest and monthly traded volumes in July 2019, with the contract seeing participation from a diverse set of physical and financial stakeholders in the iron ore value chain.Open interest for the contract, which is settled on the basis of Fastmarkets' index for iron ore 65% Fe Brazil-o...Read More

The concentrate and pellet segments of the seaborne iron ore market continued to experience lackluster trading last week, which kept prices largely unchanged.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $120.76 per tonne last Friday August 2, up $1.35 per tonne from a week earlier.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines,...Read More

Sentiment in financial markets continues to weaken following last week’s collapse of US-China trade talks and US president Donald Trump’s latest threat of tariffs on Chinese goods.Equities in Asia tumbled this morning, Monday August 5, and the yuan has dropped below seven to the dollar - the first time since 2008. Weakness in Asian currencies suggests wide-scale market unease. Base...Read More

U.S. equity index futures moved sharply lower this morning. S&P 500 futures were down 44 points in pre-opening trade. Index futures responded to growing tensions between the U.S. and China. China retaliated over the weekend following an increase in tariffs announced by the U.S. on Friday.Other major world equity indices also moved lower. The Nikkei dropped 367 to 20,720, The Shanghai Composite...Read More

The United States will impose additional tariffs on Chinese goods entering the country from the start of September, according to US President Donald Trump, which could hit shipments of metals and minerals from China to the US and suppress commodity consumption in the former.In comments on his Twitter account on Thursday August 1, Trump said that "Trade talks are continuing, and during the talks th...Read More