RAPAPORT... Gunderson's Jewelers, which owns four stores across the US midwest, has acquired JB Hudson Jewelers, a retailer based in Minneapolis, Minnesota."We look forward to adding a fifth store to our ever-growing family and serving the Twin Cities community," Gunderson's said Monday in a post on its Facebook page, referring to the Minneapolis and Saint Paul region. The company, founded by...Read More

RAPAPORT... The Chinese New Year of 2020 could not have come at a worse time for the jewelry industry. The spread of the coronavirus across China - and beyond - was suddenly becoming a major threat to public health. Stores shut, and consumers canceled their travel plans. Retailers reported heavy sales slumps. Diamond suppliers, especially in India, feared their Far East clients would miss pay...Read More

RAPAPORT... Pandora restarted business at a number of locations that had been on lockdown, amid strong sales growth in February.Approximately 25% of the Danish jeweler's retail network is currently closed due to a resurgence of coronavirus cases, compared to 30% in January, it said Tuesday. The company's sales rose 12% on an organic basis versus the same month of 2020, and increased 10% compared t...Read More

A summary of base metals premiums from across the globe for the week to Tuesday March 9.Read More

ElementUS, a joint venture to extract rare earth elements and minerals from bauxite residue, has received a financing inducement from the US state of Louisiana that will take it a step closer to constructing its facility there.The company is owned by DADA Holdings LLC, the principal owner of New Day Aluminum, and Canada-based green technologies firm Enervoxa. It plans to build a 1-million-tonne-pe...Read More

(IDEX Online) - A suspect accused of stealing a suitcase containing $2.1m of jewelry from a trade fair in Russia has been extradited to stand trial.Colombian national Edgar Alejandro Valero is alleged to have stolen the suitcase from the pavilion of the Kazanskaya Yarmarka exhibition center (pictured), in Kazan, in July 2018.He was apprehended in Argentina in September 2019 and has now been extrad...Read More

(IDEX Online) - Demand at a series of rough tenders in Dubai was "extremely high", said Trans Atlantic Gem Sales DMCC (TAGS) as it sold the vast majority of 72,000 carats on offer.Total proceeds from 24 February to 3 March were down slightly from the January tender, which raised almost $60m from the sale of all 87,000 carats offered.TAGS said it presented gems from Southern Africa and Angola worth...Read More

(IDEX Online) - Diamond tech firm Sarine is to seek broader investment by listing its shares in Tel Aviv as well as Singapore.It's taking advantage of recent moves by both the Tel Aviv Stock Exchange (TASE) and The Singapore Exchange ("SGX") to allow dual listings.Israel-based Sarine Technologies has been listed on SGX since it went public in April 2005. It hopes to join the TASE (pictured) i...Read More

Russian producer Nornickel has again pushed back the restart date for two mines in Siberia that produce nickel and copper, and which are said to account for more than one-third of its Russian ore output."The company is planning to consider the recovery schedule of the two mines once the current initiatives [to stop flooding] are completed, by March 16," Nornickel said in an update required under E...Read More

Chinese nickel full-plate premiums reached an 18-month high amid an open arbitrage window between London and Shanghai in the week to March 9, sources said.Fastmarkets' assessment of the nickel, min 99.8%, full plate premium, cif Shanghai was $150-170 per tonne on Tuesday, up by $40-50 per tonne from $100-130 per tonne on March 5 and at its highest since September 2019.Fastmarkets' assessment of th...Read More

The three-month nickel price on the London Metal Exchange fell to $15,910 per tonne during morning trading on Tuesday March 9, while the aluminium price slid by 1%, with consolidation mode still in force across the complex as a number of macroeconomic factors affect sentiment.Nickel's decline comes after a 0.6% rise at Monday's close, when it stood at $16,340 per tonne. The metal bottomed at $15,6...Read More

Domestic prices for hot-rolled coil (HRC) in Northern Europe increased further day on day on Tuesday March 9, supported by reduced availability, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?756.25 ($898.28) per tonne on Tuesday, up by ?,?2.50 per tonne from ?,?753.75 per tonne on March 8.The index was also up by ?,...Read More

The flat steel import market in the United Arab Emirates and Saudi Arabia was in a state of uncertainty in the week to Tuesday March 9, with buyers expecting prices to rise because of high production costs, sources told Fastmarkets.The main cause for concern was the prospect of an export tax rebate cut in China, which is one of the main exporters of flat steel to both countries.Offers from India,...Read More

Import prices for steel rebar and billet in the United Arab Emirates have increased this week but local rebar prices fell because producers gave discounts, sources told Fastmarkets on Tuesday March 9.The country's steel producers were offering rebar at 2,530-2,545 dirhams ($689-693) per tonne ex-works.Local demand for rebar was limited during the week, because of a lack of new projects. Rebar deal...Read More

Geert Van Poelvoorde has been named chief executive officer of ArcelorMittal Europe, the company announced on Tuesday March 9.The move follows the appointment last month of Aditya Mittal as CEO of ArcelorMittal, having previously held the position at ArcelorMittal Europe.Van Poelvoorde was previously CEO of...Read More

Domestic prices for flat steel in Russia's Central Federal District around Moscow edged up in recent deals, supported by improved buying appetites and surging exports, sources told Fastmarkets on Tuesday March 9.Hot-rolled sheetBuying activity in the region has started to recover with trading sources noting "higher shipments" over the past week."Mills are saying April volumes will be limited becau...Read More

Rex ready to rollSPONSOREDrex mineralsIt said a contractor was pinned by a rockfall from the drill face on March 7, treated quickly by the site emergency response team and transported to Zacatecas Hospital, where he passed away."It is with great sadness that I report such a tragic loss," president and CEO Darren Pylot said.Rex ready to rollSPONSOREDrex minerals"Our immediate priority is to support...Read More

Domestic steel rebar prices in Russia's Central Federal District around Moscow moved up in the week to Tuesday March 9, after mills increased their offers in response to improving demand, sources told Fastmarkets.Fastmarkets price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 51,000-52,000 roubles ($685-698) per tonne, including 20% value-added tax, on March 9...Read More

China's domestic rebar prices dropped on Tuesday March 9 due to trading houses' demand for destocking and the futures' price loss, sources said.DomesticEastern China (Shanghai): 4,700-4,720 yuan ($721-724) per tonne, down by 40 yuan per tonneSales volume did not climb up too much in early March, compared to late February, due to the frequent price changes and the bad weather so trading houses' reb...Read More

Rex ready to rollSPONSOREDrex mineralsThe Zambian government moved to liquidate KCM in May 2019, alleging Vedanta breached the terms of its licence, leaving a litany of unpaid bills and failing to deliver on work commitments.Read More