Polished market improving as governments ease Covid-19 restrictions. Dealers emphasizing digital trading. US and China driving demand for select categories. Uptrend in 0.30 to 0.89 ct. SIs. Suppliers staying firm on prices as dealers struggle to fill orders. Cutters consider increasing production as expectations rise for holiday season. Alrosa 2Q profit -98% to $3.6M. Tiffany extends traceability...Read More
RAPAPORT... India's finance ministry has agreed to form a special group to help resolve issues affecting the country's gem and jewelry industry.The task force will address various requests made by the trade, such as enabling direct sales of rough diamonds by miners in the country, reducing the polished import duty to 2.5% from 7.5%, and issues pertaining to the goods and services tax (GST), the Ge...Read More
RAPAPORT... Discretionary spending on jewelry could increase as US consumers reallocate funds they would have used on travel, dining and other experiences prior to Covid-19, according to a De Beers report."As some consumers find themselves with additional discretionary income as a result of spend in other areas such as travel being canceled, there is potential they will allocate this to alternativ...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.The success of China's economic reform programme will have a strong influence on the metals market this year. On balance, fundamentals have improved, but geo-political concerns continue to dog the market and whispers of economic slowd...Read More
RAPAPORT... A ring made entirely of natural diamond has become the first of its type to reach the Gemological Institute of America (GIA) for evaluation.The 13.15-carat, fancy-dark-grey diamond originated from a rough stone weighing around 20 carats, the GIA said in the spring issue of its Gems & Gemology journal, which it published last month. A customer recently submitted the piece to th...Read More
(IDEX Online) - It's a diamond ring, but not as we know it. The entire piece (pictured) has been carved from a fancy dark grey natural rough type IaB diamond and weighs 13.15 carats.The Gemological Institute of America's New York lab say it's the first ring of its kind submitted to them for evaluation.It probably started life as a 20-carat rough, they say in the spring is...Read More
RAPAPORT?EUR?PRESS RELEASE, August 18, 2020, New York... The Rapaport Group congratulates the governments of the United Arab Emirates (UAE) and Israel on the normalization of relations. Trade ties between the two countries are expected to improve with significant opportunity for the diamond and jewelry industry. The Rapaport Group with offices in the Dubai Diamond Exchange and Israel Diamond Excha...Read More
(IDEX Online) - Women alleging sex bias by Sterling Jewelers are calling on the US Supreme Court to allow them to pursue a joint action.A group of 70,000 current and former employees claim Sterling, a subsidiary of Signet Jewelers, paid them less than men and gave them fewer promotions. Sterling strenuously denies the claims.Last November, Sterling persuaded a court that only a few hundred women w...Read More
(IDEX Online) - Tiffany & Co is to provide unprecedented detail on the provenance of its diamonds, by telling customers exactly where each stone was mined, sorted, graded, cut and set.The New York-based jeweler says it will share the "full craftsmanship journey" for each each newly-sourced, individually-registered stone of 0.18 carats or above, to show its commitment to complete traceability.I...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.There has been an increasing bullishness in Chinese steel market sentiment recently, with rising post-Covid-19 optimism about the country's economy for the second half of 2020, especially after the government announced an infrastructure spending boost. Although we believe that high prices are justified, they remain far from...Read More
RAPAPORT... Mountain Province plans to sell an additional $50 million worth of rough diamonds from its Gahcho Ku?(C) mine to Dunebridge Worldwide to help generate liquidity and bolster the company.The sale "will significantly strengthen the company's financial position as it responds to the challenges posed by the Covid-19 pandemic," Mountain Province said Tuesday, describing it as being in "serio...Read More
Domestic long steel prices have gone down in Turkey over the past week in line with poor demand and a slight recovery in the Turkish currency, sources said on Thursday August 20.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,790-3,810 ($516-519) per tonne on Thursday, slightly down from the 3,810-3,870 lira per tonne of last week.The steel mills...Read More
Fastmarkets has made corrections to its daily calculations of nickel and copper physical metal arbitrage into China, after input errors led to inaccurate figures being published. From August 3 to August 17, Fastmarkets published its nickel import arbitrage, $/tonne and nickel import arbitrage, yuan/tonne calculations based on a bonded warehouse nickel premium of $110 per tonne. They shou...Read More
The LME three-month copper price was the biggest faller in morning trading on Thursday August 20, dropping by 1.7% against a slight uptick in the US dollar index, while a fresh cancellation supported the nickel price.Copper's outright price on the London Metal Exchange was recently trading at $6,575.50 per tonne on Thursday morning, wiping out gains made on Wednesday after closing at its highest l...Read More
A summary of producer South32's financial results for the year ended June 30, 2020.In briefSouth32's underlying earnings were down by 81% in the 2020 financial year at $193 million, compared with $992 million in the prior financial year, with volatile macroeconomic conditions affecting the prices of key commodities. Statutory profit after tax declined by $454 million to a loss of $65 million in 20...Read More
Three-month base metals prices on the London Metal Exchange were mostly weaker this morning, Thursday August 20, as were Asian-Pacific and pre-market major western equity index futures. Gold prices are rebounding after Wednesday's 3.3% sell-off.US equities retreated on Wednesday after the Federal Reserve minutes highlighted concerns about the US recovery.Base metals The three-month base metals pri...Read More
China's domestic stainless steel prices rose for an eighth week reach their highest since February 19, while export prices too have risen to levels not seen since late last year.A weakening of the US dollar pushed up prices for commodities, including nickel, which then drove up stainless steel prices, an industry analyst in Shanghai said.The three-month nickel contract on the London Metal Exchange...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesMuch of the increase was due to the impact of higher precipitation estimates on water management infrastructure and operating costs, and changes in power supply from liquified natural gas to diesel.Read More
A look at hot-rolled coil prices around the globe. Tighter divergence. As of mid-August, prices for hot-rolled coil in the United States have remained below those in China, continuing a trend that began on July 10, according to Fastmarkets' pricing records. The reversal of normal trends - Chinese prices are typically well below US levels - resulted from US domestic prices remaining under...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe London-listed company (ANTO) is now guiding for full-year net cash costs of $1.20/lb, 10c/lb below its original guidance, after achieving a 5.Read More