Steel plate prices in the United States held steady after most buyers did not immediately cooperate with price increases announced by producers.Plate prices have been unchanged for a month, despite not one but two $2-per-hundredweight ($40-per-short-ton) price increases attempted by domestic mills since late July. Service centers pointed to shorter-than-normal lead times - about three weeks -...Read More

High-carbon wire rod prices in the United States have fallen due to weaker market conditions, while cold-heading quality (CHQ) wire rod defied similar downward pressure to post gains alongside higher raw material costs. Fastmarkets assessed steel wire rod (high carbon), fob mill US, at $37 per hundredweight ($740 per short ton) on Friday August 16, down by 1.3% from $37.50 per cwt one month a...Read More

Egypt's Administrative Court has once again postponed its session to discuss the country's import safeguard duties, but did not indicate any reason for the delay, Egyptian sources told Fastmarkets on Sunday August 18.The session had originally been scheduled for August 4 but was postponed to August 17. It will now be held on August 24.In April, Egypt imposed a temporary additional import duty on r...Read More

Flat-rolled steel import prices were pressured further in South America during the week to August 19 on the continuing downtrend in Chinese flat steel prices and amid new discounted deals and offers in the region.There were reports of short selling in the market, while weak demand prompted more aggressive offers, according to sources. The Galvalume market was still the most dynamic in the flat-ste...Read More

Import prices for steel slab in Southeast Asia and East Asia tumbled over the past week after producers accepted lower prices amid a bearish sentiment in the downstream flat steel markets, sources said on August 19.For instance, a flurry of short-selling activity has applied downward pressure to hot-rolled coil prices in Vietnam, with India-origin HRC actively trading due to sluggish demand in its...Read More

China's hot-rolled coil prices gained some more strength on Monday August 19 on news of a revamp in interest rates as well as tighter steelmaking restrictions in the country's northern region.DomesticEastern China (Shanghai): 3,730-3,740 yuan ($530-531) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,730 yuan per tonne, up 10 yuan per tonnePrices in Shanghai rose as high as 3,740 yuan...Read More

RAPAPORT... Revenue at Michael Hill fell in the last fiscal year amid a difficultretail environment and the company's shift away from its previous discountingstrategy. Group revenue at the Australia-based jeweler fell 1% to AUD569.5 million ($386.2 million) for the year ending June 30. Same-storesales - at branches open more than a year - slipped 3.3% to AUD 524.7 million($355.8 million), the...Read More

RAPAPORT... Manufacturers coated a rough diamond with a green substanceto imitate a natural color, the Gemological Institute of America (GIA) saidafter the stone turned up for grading at its Carlsbad laboratory. The presence of chromium oxide powder on the surface ofthe 6.49-carat crystal was a rare case, as color coatings are more common withfaceted stones than with rough, and tend to be pink, or...Read More

RAPAPORT... The Diamond Producers Association (DPA) has released a campaign that aims to challenge misconceptions about diamond mining inan effort to capture millennial consumers. "The goal is to convey some of the key facts and truthsabout natural diamonds in a compelling, cinematic way that will engageviewers," a DPA spokesperson told Rapaport News last week. The video, called Essential Dia...Read More

The Association Fran?? ?aise de Gemmologie (the French Association of Gemmology) has announced the line-up of speakers for the 18th Paris Gemmological Rendez Vous, its prestigious annual gems symposium, which will take place on September 9, 2019, at: l'ASIEM, 6 rue Albert de Lapparent, Paris, France. Among the speakers are: Alan Bronstein, President of the Natural Color Diamond Association A...Read More

RAPAPORT... The Diamond Development Initiative (DDI) has promoted IanRowe to executive director. He will replace Doroth?(C)e Gizenga, who will lead theorganization's new Africa office.  Rowe, who has served as deputy executive director of the DDIsince September 2018, was previously a director with the United Nations. He hasworked with civil-society organizations in the areas of development,so...Read More

The diamond company Forevermark is betting on India. The company believes that the India's middle-class consumption is key to its success in what is thought to becom  the second largest consumer market for diamond jewelry. Talking to Moneycontrol, Sachin Jain, President, Forevermark India, said, "We are present in 60 markets in India. We are present in Tier I, II, III and IV markets." Re...Read More

Botswana’s Ministry of Mineral Resources, Green Technology and Energy Security has granted a renewal of TSX-listed Tsodilo Resources’ prospecting licence in the country for an additional two years, ending September 30, 2021.The licence area, which is within the Orapa Kimberlite Field (OKF), contains the company’s BK16 kimberlite project.AdvertisementTsodilo plans to soon start a...Read More

The Gemological Institute of America (GIA) will host a Jewelry Career Fair and Open House at the organization's world headquarters in Carlsbad, California on Friday, October 11, 2019.The free event will feature panel discussions, career coaching and recruiting for people new to the industry and professionals looking for a career change; classroom demonstrations for aspiring gemologists, jewel...Read More

RAPAPORT... De Beers will allow sightholders to refuse more rough diamonds than usual at thisweek's sight, aiming to ease pressure on the market without reducing prices. Clients will be free to turn down 50% of available goods amid a slump in rough demand, a broker told RapaportNews on condition of anonymity. The company will also buy back up to 20% ofcustomers' purchases, compared with the standa...Read More

The Yellowknife Crown of Light diamond cutting facility. (Photo by Crown of Light)Earlier this month, a new diamond polishing factory started operating in Yellowknife, in Canada's Northwest Territories (NWT). The plant, called Yellowknife Crown of Light, which is owned by Almod Diamond, reportedly received its first shipment of rough diamonds from De Beers at its facility near Yellowknife...Read More

Diamond miner De Beers Group on Friday said it was "shocked and saddened" by the sudden death of Debswana MD Albert Milton.Milton had become unwell while in Johannesburg on Thursday evening. He had been admitted to hospital, but died early on Friday morning.Advertisement"We extend our deepest condolences to Albert’s family, relatives and friends. Our thoughts are with them at...Read More

Domestic auto bundle (DKP-grade) scrap prices in Turkey have fallen over the past seven days because of the weak finished steel market, sources said on Monday August 19.A number of steel mills in the country have reduced their buy prices for the material by TRY20-40 ($4-8) per tonne.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,550-1,...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 transaction: iron oreIron oreVale, Global Ore, 80,000 tonnes of 65% Fe Iron Ore Carajas, sold at $97 per tonne cfr China, bill of lading dated July 29. Vale,...Read More

Seaborne iron ore prices retreated on Monday August 19 amid lingering pessimism reflected by futures losses.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $88.40 per tonne, down by $1.17 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $88.78 per tonne, down by $1.17 per tonne. Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao: $88...Read More