RAPAPORT... Didier Giard, president of the French Association of Gemmology (AFG), died suddenly on Sunday, the organization reported.Giard represented the fourth generation in a family of jewelers that dates back to 1887. As head of the AFG, he organized the Paris Gemmological Rendez Vous, which has taken place 17 times since 1998. He was also vice president of the Union Fran??aise de la Bijouteri...Read More

RAPAPORT... The Israel Diamond Exchange (IDE) has become the latest bourse to revive operations, as trading centers around the world slowly return to action following lockdowns.Facilities including banks, the post office, customs, the diamond controller's office and the Brinks safety-deposit room opened on Sunday after being partially or entirely closed for several weeks, the IDE said this we...Read More

RAPAPORT... Dominion Diamond Mines owes a combined CAD 1.2 billion ($820 million) to banks and other creditors, according to a court document it filed as part of its insolvency petition.While a large portion is due to businesses in the Northwest Territories, where Dominion operates its Ekati mine, the listing also shows a CAD 593,017 ($422,429) debt owed to the Diamond Producers Association (...Read More

RAPAPORT... Sales of jewelry and other luxury items in Hong Kong plummeted to their lowest level in nearly 14 years in the first quarter as the coronavirus spread through the region, government figures show.Revenue from jewelry, watches, clocks and other valuable gifts dropped 64% year on year to HKD 8.14 billion ($1.05 billion) for the three months ending March 31, as the municipality went i...Read More

The United States nickel briquette premium dipped at the top end of the range in the week to Tuesday May 5, pushed lower by increased selling momentum at lower levels, while nickel premiums in Europe and China remained flat.?EUR? Virus-weakened demand pushed US briquettes premiums lower?EUR? China public holidays and a lack of arbitrage opportunities kept regional premiums unchanged?EUR? Lack...Read More

(IDEX Online) - Young Diamantaires have built and launched their own website -  www.ydts.org  - to help members grow their businesses. The group, part of the Antwerp-based World Federation of Diamond Bourses (WFDB), say it will function as a forum for discussion, networking, charitable activities. It will also cultivate leadership roles within the WFDB.Twenty-five members have alrea...Read More

(IDEX Online) - Diamond factory bosses are urging the Indian government to allow a partial return to work after the nationwide lockdown was again extended, to 17 May. Some other industries have resumed partial production after rules were relaxed to allow a third of workers to return, albeit with social distancing rules and frequent sanitizing. But the nature of the cutting and polishing process-...Read More

(IDEX Online) - Pandora reported a first-quarter loss of $3.49m, as sales across its 7,300 outlets fell by 13 per cent. The Danish jewelry retail giant, best known for its charm bracelets, said it had been badly hit by COVID-19, but insisted it was in a "strong financial position" to withstand ongoing effects of the pandemic.The global pandemic forced Pandora to close most of its outlets, fir...Read More

BMW has restarted vehicle production at some of its sites in Europe and the UK this week, while other locations would make similar moves next week, the company confirmed to Fastmarkets on Wednesday May 6.In late April 2020, the BMW Group began a staggered approach to restarts at its production locations, it said, with plant ramp-ups oriented toward the market. The exact dates for restarts would de...Read More

The three-month zinc price on the London Metal Exchange was the best performer at the close of trading on Wednesday May 6, with turnover at its highest since March 27, while the galvanizing metal continued a steady approach toward the $2,000 per tonne resistance level.Zinc's outright price on the LME closed at $1,975 per tonne on Wednesday afternoon, its highest closing price since March 11, rally...Read More

Business conditions for tin grew more difficult in the United States in the week to Tuesday May 5 - largely due to poor demand and the availability of free-floating LME tin warrants - putting pressure on premiums in the country; European markets were similarly subdued although premiums were stable over the past fortnight. US premiums fall due to absent demand.  LME warehouse availability shri...Read More

Christophe Koenig has been appointed head of global sales and marketing at Nornickel, the world's largest nickel and palladium producer. He will also become chief executive officer of Metal Trade Overseas AG, Nornickel's Switzerland-based sales division. Koenig previously managed sales...Read More

Tumbling demand for zinc in Northern Europe sent spot premiums in Rotterdam and Antwerp to their lowest levels in 15 years in the week to Tuesday May 5, while US market participants were also wary of a possible drop in premiums in the coming weeks due to soft demand. Spot zinc premiums for Northern Europe sank to their lowest levels in 15 years.  US zinc premiums steady week on week but mark...Read More

US steel imports surged in April on the re-opening of quarterly quota limits on slab from Brazil - and despite double-digit declines for some finished steel goods.The US imported 2.68 million tons of steel last month, up by 68.9% from March but down by 11.3% from April 2019, according to license data from the US Department of Commerce's Enforcement and Compliance division last updated on Tuesday M...Read More

Brazil-based steelmaker Gerdau expects the No2 blast furnace at its Ouro Branco mill - in the southeastern state of Minas Gerais - to resume production between the end of June and the beginning of July, chief executive officer Gustavo Werneck said on Wednesday May 6.The blast furnace was idled in early April amid tumbling demand due to the Covid-19 pandemic and falling export prices. It has capaci...Read More

The price for steel H-beams in Europe fell on Wednesday May 6, while low demand continued to restrict market sentiment, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?525-560 ($570-609) per tonne on Wednesday, down from ?,?535-570 per tonne one week before.Market participants have reported less trading activity in rec...Read More

Steel billet producers in Iran have been active in the Southeast Asian market in the week to Wednesday May 6, Fastmarkets has learnt.Several cargoes of Iranian billet scheduled for production and shipment in May were reported sold within the range of $340-342 per tonne to Thailand and Indonesia, sources said.A cargo scheduled for the Indonesian market was reported sold at $365-367 per tonne cfr, w...Read More

Broader markets were mixed this morning, Wednesday May 6, while base metals prices on the London Metal Exchange were up across the board. Base metals prices on the Shanghai Futures Exchange were mixed following Chinese participants’ return to the market after the country’s Labor Day holiday (May 1-5).* Asian-Pacific and pre-market western equity indices were mixed this morning.* Markets...Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSpeaking as part of the NWR Virtual Resources Conference, Bond gave a macro backdrop that posited the current era as having strong historical similarities to the 1960s and 1990s in terms ofRead More

Turkish steel producers avoided the deep-sea scrap market on Wednesday May 6, amid lower finished steel output in Turkey, due to the measures introduced to curb the spread of the Covid-19 virus, sources told to Fastmarkets.The most recent deep-sea transaction took place at the end of the last week when a steel mill in the Iskenderun region booked a European cargo at $236 per tonne for HMS 1&2...Read More