The world's biggest copper consumer could be getting ready to start spending, analysts told Fastmarkets. Analysts expect China's State Grid Corp of China, whose budget comprises 50% of the country's annual copper demand, to come good on promises to increase investment on the nation's electronic grid by 5% this year. That amounts to 14 billion yuan ($2 billion) of extra spending, according to estim...Read More

China's alumina market is showing signs of a recovery following the emergence of higher offer prices by domestic producers this week due to a number of production cuts in the country, market sources told Fastmarkets on Wednesday August 14.Several alumina operations in eastern and northern China, including China Hongqiao Group's facility in Shandong province that is said to be suffering from severe...Read More

Copper held steady on the London Metal Exchange during morning trading on Thursday August 15 despite stocks rising by 32,000 tonnes taking to above 300,000 tonnes for the first time since July 5. The three-month copper price has trended lower so far this month, slipping below $6,000 per tonne to its lowest since 2017 at $5,640 per tonne on August 5. It was recently at $5,742 per tonne, down just 0...Read More

Base metals prices on the Shanghai Futures Exchange were broadly down during morning trading on Thursday August 15, with weak economic data releases on Wednesday fueling anxiety among investors and dampening risk-on sentiment.In data on Wednesday, China's industrial production growth slowed to 4.8% year on year in July, below the forecast 6.0% and the previous 6.3%, recording the weakest growth si...Read More

Domestic prices for hot-rolled coil in Europe have been stable over the week to August 14 due to a seasonally weak market in August, sources told Fastmarkets.In the meantime, the market outlook for HRC later in August into early September is mixed. European steelmakers are expected to increase official offers for coil, supported by the seasonal demand recovery. But market...Read More

Steel billet and rebar prices in Egypt remained stable in the week to Thursday August 15, largely due to the Eid al-Adha holiday.Egypt's working week runs from Sunday to Thursday, with Eid observed on August 11-14 and no market activity was apparent on August 15.Continuing uncertainty over safeguard duties on steel billet and rebar also had an impact, sources said..In Apri...Read More

Low expectations for Sep. Hong Kong show due to slowdownin Chinese demand and escalation of political protests. Trade war affectingconfidence. US jewelers likely to raise local manufacturing as 10% tariff ondiamond and jewelry imports from China takes effect Sep. 1. Weak Macy's 2Qresults reflect struggling malls and drop in tourist spending. Devalued yuanadds price pressure for Chinese diamond imp...Read More

IIJS show sees slowdiamond trading, but steady gold inquiries ahead of festival and weddingseason. Jewelers waiting for gold-price stability before making orders.Polished production reduced by estimated 30%, with cutters shifting tolower-cost goods to keep workers. Large volume of 0.30 to 0.70 ct.available; suppliers selling in parcels to save on grading costs. Steady demandfor better-quality SIs...Read More

The Turkish billet markets have been quiet over the past week with trading activity restricted by absences for a religious holiday, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 to celebrate the Islamic Eid al-Adha.Only one steel mill was heard bidding for...Read More

RAPAPORT... Stornoway Diamond Corporation has given a stern warningabout its ability to remain in business, after failing to find a buyer for the company. The miner had until July 15 to find an investor for its Renard operation as part of a bridge-loan agreement it signed. While lenders extended the deadline to September 16, the company has been unable to find an interested party, and feels i...Read More

A summary of the financial results for Turkey's biggest steelmaking group Erdemir for the first half of 2019, between January 1 and June 30.In briefEarnings were down due to the negative sentiment in Turkey from late 2018 into early 2019, especially after August when the country's lira lost significant ground against the dollar, following the United States doubling the tariff imposed on Turki...Read More

RAPAPORT... Pandora and Warner Bros. will partner on a HarryPotter-inspired collection, featuring iconic characters and symbols from thefilms. The line will comprise 12 hand-finished products, includingcharms, pendants and a bracelet, designed by Francesco Terzo and FilippoFicarelli, Pandora's vice presidents and creative directors. It will launch onNovember 28 in Pandora stores globally, as...Read More

Yahoo News reported that China is taking on the world's diamond miners, using sophisticated technology to offer increasingly cheap and real-looking knockoffs that threaten to upend the lucrative fine jewelry market. The technological disruption seen in medicine, autos, banking and countless other sectors is spilling over into diamonds, where an oligopoly of just four miners controls more than...Read More

RAPAPORT... The Hong Kong Jewelry Manufacturers' Association (HKJMA)is asking the organizers of the September show for a 25% discount for itsmembers, citing difficult market conditions due to the trade war and socialunrest in the city. Many overseas exhibitors and buyers are likely to skipthe Hong Kong Jewellery & Gem Fair following government warnings about visitingthe municipality, the HKJMA...Read More

RAPAPORT... Pandora is set to repurchase DKK 500 million ($74.7 million)of unsold jewelry from retailers that stock its products, the company said. The Danish jeweler believes this will reduce the quantity of goods its clients keep in stock for long periods. The company plans to smelt and recycle the old jewelry to make new collections, a company spokesperson told Rapaport News ...Read More

Some 18 months into its four-year business transformation programme, diamond miner Gem Diamonds is on track to deliver its targeted $100-million in incremental revenue, productivity improvements and cost savings by the end of 2021.Since implementation, the LSE-listed group has achieved $42-million in cost savings, net of implementation costs and fees.Advertisement“It is pleasing to report th...Read More

As part of its efforts to advance professional skills in jewelry making and design, the MJSA Education Foundation recently awarded a total of $10,000 in scholarship funding to five students. That amount includes a $2,500 scholarship provided by the Rhode Island-based Providence Jewelers Club Foundation, for students attending eligible schools in that state. The five winners range from an undergrad...Read More

China's domestic rebar prices retreated again on Thursday August 5 after a two-day rebound, because of destocking, sources told Fastmarkets. Domestic Eastern China (Shanghai): 3,670-3,730 yuan ($522-527) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,610-3,630 yuan per tonne, down 20 yuan per tonneFutures picked up today, stimulating some buying interest and traders with la...Read More

RAPAPORT... Jewelry imported into the US from China will attract an extra levyof 10%, despite the Trump administration's decision to postpone tariffs onother goods. While certain health-and-safety products are being removedfrom the prospective tariff list, other items - including toys, computer equipment, video games andclothing - havereceived a temporary reprieve, the US government said Tues...Read More

Asian gem lab group AIGS is organizing a five-day cultural trip to the ruby mining area of Mogok in Myanmar in mid-October coinciding with the ICA (International Colored Gemstone Association) Congress. The trip, which has been organized by AIGS (Asian Institute of Gemological Sciences) on several occasions in the past, is available to those who wish to find out more about the remote mining origin...Read More