The prices of rebar and wire rod exported from the Commonwealth of Independent States (CIS) continued to decline in the week to Monday September 9, under pressure from weak demand in the major sales outlets as well as growing competition with Turkish suppliers.Indications of offers from CIS mills, particularly from Belarus, were reported at $420 per tonne fob Black Sea.But bids for CIS rebar from...Read More

RAPAPORT... Signet Jewelers plans to reduce its purchasing of Chinesegoods by about 50%, aiming to minimize the impact of US tariffs on thebusiness. "We have been successful in working with our vendors to movea significant amount of our China exposure to other countries," Signet CEO GinaDrosos said last week. The percentage of merchandise the retailer sources fromthe key market will be in the "mid...Read More

Import prices for steel slab in Southeast Asia and East Asia have fallen for a third consecutive week amid a downturn in the global steel markets that has damped buying interest for slab, market sources told Fastmarkets on Monday September 9.Buyers were likely to take a wait-and-see approach amid expectations that prices will fall, a trader in Indonesia said.Fastmarkets' weekly price assessment fo...Read More

RAPAPORT... The diamond industry must significantly increase its marketing spend to ensure the trade's longevity. This need is highlighted by the difficult conditions the sector has endured over the past few years.Recent challenges have led to a lack of confidence in the diamond trade that resulted in a seemingly endless stream of financial misconduct carried out by a minority of ill-intended merc...Read More

RAPAPORT... Rio Tinto has launched a collection of rare pinkdiamonds from its Argyle mine, which has been specially curated to showcase thefull color palette of the deposit's stones. The Argyle Pink Everlastings collection contains 64 lots andhas a total weight of 211.21 carats, with each individual stone weighing 0.14carats or below, Rio Tinto said Monday. The miner will provide a certificat...Read More

RAPAPORT... A flawless white diamond with a high estimate of $19 millionwill feature in Sotheby's Magnificent Jewels and Jadeite auction in Hong Kong next months. The emerald-cut, 80.88-carat, D-color, type IIa stone is valuedat $12.8 million to $19.1 million, and is one of only five emerald-cut diamondsover 80 carats offered in auction history, Sotheby's said Monday. A 10.64-carat, fanc...Read More

Turkish rebar is set to become more competitive in the Singapore import market again due to falling scrap prices.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 $460-470 per tonne for the week to Monday September 9, falling by $5 per tonne from a week earlier.Mark...Read More

(IDEX Online) - How do you make a $2 million diamond "disappear"? For artist Diemut Strebe, in collaboration with MIT scientist Brian Wardle, the answer is a patented nanotube technology (CNT). Mixing science and art, a 16.78-carat natural yellow diamond from L.J.West was coated using a new procedure of generating carbon nanotubes (CNTs), which was recently measured to be the blackest black ever c...Read More

The price trend for hot-rolled coil in Asia remains uncertain for many market participants given price rebounds in China but continued bearish sentiment in the key import market of Vietnam.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 $457-465 per tonne cfr for the week ending M...Read More

(IDEX Online) - Australian miner Rio Tinto has launched a new collection of rare pink diamonds from its Argyle mine in Western Australia. The Argyle Pink Everlastings Collection comprises 64 lots and weighs in at 211.21 carats represents just 2 percent of the annual Argyle pink diamond production. Every diamond in the collection weighs up to 0.14 carats. "The Everlastings Collection, representing...Read More

RAPAPORT... Saks Fifth Avenue has debuted The Vault, a new floor thatwill feature pieces from luxury fine-jewelry and watch designers. The area, located on the retailer's lower level, willhighlight more than 25 brands, and one of the largest selection of men's watchesthe store has ever offered, Saks said last week. "We have created the ultimate luxury destination for highfine jewelry and wat...Read More

RAPAPORT... Bonhams will spotlight a 2.17-carat Van Cleef & Arpels bluediamond ring at its upcoming sale, estimating it will fetch $800,000 to $1.2 million. The emerald-cut, fancy-intense-blue, VVS2-clarity diamond isaccented by round brilliant-cut diamonds. The piece, from a private collection,will lead the September 26 New York Jewels auction. Other pieces from the Van Cleef collection...Read More

(IDEX Online) - Saks Fifth Avenue has opened The Vault, a new floor dedicated to fine jewelry and watches at its flagship Fifth Avenue store. The new department offers 20 new brands, limited edition pieces and the largest selection of watches ever Saks has ever offered. The luxury store says the 12,000-square foot floor, which more than doubles its dedicated fine jewelry and watches space, is part...Read More

CAPE TOWN – Botswana’s government and De Beers are in “cordial” negotiations about a new diamond-sales pact to replace their current 10-year deal which expires in 2020 and it should be concluded after next month’s election, President Mokgweetsi Masisi said.“Everything is going as planned,” Masisi said Thursday in an interview with Bloomberg TV at the World...Read More

Domestic scrap prices in the Turkish market have gone down over the past week amid falling imported scrap values, sources said on Monday September 9.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,445-1,650 ($252-288) per tonne on Monday, down from last week's TRY1,520-1,770 per tonne.This downward movement in the weekly assessment came...Read More

The Turkish steel mills held back from the deep-sea scrap markets at the beginning of the week, expecting further prices decreases, sources said on Monday September 9.Four deep-sea bookings were made last week, at prices which pushed down the daily scrap indices by more than $18 per tonne.Three bookings on September 3 lowered prices by $12.30 per tonne day on day. On September 5, prices dropped by...Read More

Seaborne iron ore prices rose strongly above $90 per tonne cfr China on Monday September 9, reflecting gains in the futures and steel markets after the Chinese government boosted liquidity in the commercial banking sector.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.97 per tonne, up $3.92 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.36 per tonne, up $3.92 per tonn...Read More

Seaborne coking coal prices were largely unchanged on Monday September 9, with buyers and sellers adopting a wait-and-see approach to the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.20 per tonne, up $0.77 per tonne Premium hard coking coal, cfr Jingtang: $169.07 per tonne, up $0.06 per tonneHard coking coal, fob DBCT: $134.01 per tonne, unchangedHard coking coal, cfr Jingtan...Read More

Seaborne iron ore concentrate prices rallied last week in line with the general market rebound, while pellet prices underperformed amid increasing spot supplies.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $95.06 per tonne last Friday September 6, up by $5.81 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines,...Read More

Billet prices in most markets around the world tumbled to set fresh year-to-date lows last week amid sluggish demand in the downstream long steel markets. The downturn in the Turkish ferrous scrap market also contributed to bearish sentiment. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $244.15 per tonne last Friday September 6, its lowest sinc...Read More