RAPAPORT... Chow Sang Sang's revenue slid 15% year on year in 2020 amid coronavirus-related restrictions that took a toll on consumer sentiment.Group sales for 2020 fell to HKD 15.03 billion ($1.93 billion) as border closures in Hong Kong prevented tourist arrivals, a large source of the company's revenue in the municipality, the jeweler said last week. Wedding cancellations resulting from governm...Read More

RAPAPORT... Nearly half of US consumers would seriously consider acquiring lab-grown diamonds, believing them to be a fun, fashionable and lower-priced alternative to mined diamonds, according to a De Beers survey.As lab-grown diamonds become more mainstream, they are increasingly identified with providing "flash for cash," with 20% of respondents labeling them as fun, compared with 14% in 2019, t...Read More

RAPAPORT... Alrosa has extended its long-term supply contracts with clients through the second quarter, postponing the announcement of its new three-year deals for a second time. The Russian miner wanted more time to consider demand from its rough buyers since the market has recovered from the disruptions the pandemic caused. "The feedback received indicates that the current demand structure may s...Read More

RAPAPORT... Mountain Province Diamonds fell further into the red in 2020 as the pandemic continues to impact sales and operations at its Gahcho Ku?(C) mine in Canada. The company, which owns 49% of the mine, with De Beers holding the rest, reported a loss of CAD 263.4 million ($208.9 million) for the year. Mountain Province noted a loss of CAD 128.8 million ($102.1 million) in 2019 and has ye...Read More

IDEX Research estimates that U.S. Specialty Jewelers generated sales of about $13.1 billion USD, a 17 percent sales increase, during the fourth calendar quarter - October, November, December of 2020 - when compared to the same three-month period a year earlier.  Specialty Jewelers' sales gain of 17 percent (red bar) outpaced the overall fine jewelry and watch sales gain of nearly 14...Read More

(IDEX Online) - Petra Diamonds is facing claims that guards at its Williamson Mine, in Tanzania, switched rubber bullets for metal shot in their shotguns to inflict greater damage to trespassers.The UK-listed miner was accused last November of employing security staff who were responsible for seven deaths and 41 injuries in their "ruthless and militaristic" dealings with illegal diggers. It i...Read More

Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key themes – OPEC+ production, Covid-19 developments, and the energy transition.Following...Read More

(IDEX Online) - Almost half of all consumers (47 per cent) don't believe lab grown diamonds are "real", according to new research for De Beers.Seven out of 10 said they wouldn't spend over $1,000 on one, because they're concerned that lab growns won't retain their value over time.  Prices of LGDs are predicted to fall by as much as 60 per cent in the next two years.An incr...Read More

Copper's three-month price was down by 1% and aluminium closed down by $30 per tonne on Monday March 29, while most other base metals metals on the London Metal Exchange also closed lower but the US Dollar Index reached a new high.The red metal closed at $8,865 per tonne on Monday, down by 1% from its closing price on Friday of $8,962 per tonne, which had been a 2% increase from the previous day's...Read More

India's Adani Enterprises will build its first copper cathode facility via a new subsidiary three years after the country's biggest copper smelter - Vedanta's Tuticorin - was ordered to close. Adani Enterprises incorporated wholly-owned subsidiary Kutch Copper Ltd (KCL) on March 24 to manufacture copper cathodes and copper rods, the company said last week. Adani had originally proposed the co...Read More

Chinese importers' shift toward buying No 1 copper material continued during March, with the rejection risk for No 2 copper cargoes remaining a major concern, market sources said.Since November last year, China has allowed certain high-grade copper scrap to be imported into the country as recyclable copper material and customs have taken up inspection duties to screen the scrap cargo arrivals. Wit...Read More

A refrain heard over and over again during Fastmarkets' virtual Copper Seminar earlier this month was that copper demand is accelerating globally while mining supply remains short."According to our estimates, the demand for copper - primarily driven by the transition to low-carbon energy, technologies and electrification - will go from just under 30 million tonnes [per year] today to about 60 mill...Read More

Fastmarkets' premium for the supply of aluminium to main Japanese ports (MJP) in the second quarter of 2021 has settled at $148-149 per tonne on top of the London Metal Exchange cash price, the highest since the second quarter of 2015. The aluminium P1020A (MJP) quarterly premium, cif Japan for the second quarter is up by 14.23% from $130 per tonne in the first quarter of 2021. It is also 81....Read More

The London Metal Exchange three-month aluminium price held around its recent year-to-date high on Monday March 29, while the rest of the metals were slightly lower from the end-of-week rally on Friday. LME aluminium rallied the most, reaching a new 2021 high of $2,301 per tonne during trading. On Monday at 9am, LME three-month aluminium was $2,297 per tonne, pretty much unchanged from the 2.3% ris...Read More

Look beyond market approach to project valuations: van ZylLeadershipMicon Awarded Front End Engineering Design and Definitive Feasibility StudySPONSOREDmicon internationalHot Chili rises to the topSPONSOREDhot chiliMarimaca timing its run to meet resurgent demand for copperSPONSOREDmarimaca copperThe latest new licences would "significantly increase" the footprint of Kanye in the renowned copper b...Read More

Base metals prices on the London Metal Exchange were mainly lower this morning, Monday March 29, but those on the Shanghai Futures Exchange were stronger across the board while they reacted to Friday's LME performance. Market focused on further potential fallout from troubled hedge fund after a mass liquidation on FridayEver Given ship re-floated in Suez CanalUnited States President Joe Biden expe...Read More

Micon Awarded Front End Engineering Design and Definitive Feasibility StudySPONSOREDmicon internationalHot Chili rises to the topSPONSOREDhot chiliMarimaca timing its run to meet resurgent demand for copperSPONSOREDmarimaca copperFilo del Sol copper-gold-silver advanced explorationSPONSOREDfilo miningA keystone week for the project saw two big chunks come out of the US$1.Read More

Base metals prices on the London Metal Exchange were mainly lower this morning, Monday March 29, but those on the Shanghai Futures Exchange were stronger across the board while they reacted to Friday’s LME performance.* Market focused on further potential fallout from troubled hedge fund after a mass liquidation on Friday* Ever Given ship re-floated in Suez Canal* United States President Joe...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationIt hasn't prevented their share prices from succumbing to fears that iron ore prices are headed south in a big way.Read More

Export slab offers originating from the Commonwealth of Independent States region surged toward the end of March, supported by increasing hot-rolled coil prices both in the domestic and export markets.Fastmarkets' weekly price assessment for steel hot-rolled coil (HRC), export, fob Black Sea, CIS was $830-855 per tonne on Monday March 29, up $15-25 from $815-830 per tonne a week earlier.This was d...Read More