RAPAPORT... Signet Jewelers has extended its face-mask policy, which had previously applied only to employees, to include customers as well.The jeweler will offer disposable masks to any shoppers who don't have one with them, it said Tuesday. The decision, part of Signet's new Love Takes Care program, follows a collaboration with the Cleveland Clinic regarding proper coronavirus protocols."It's ou...Read More
After a dizzying drop earlier this year, U.S. jewelry and watch sales showed a solid recovery in June. Total fine jewelry and watch sales rose by almost 2 percent in June to an estimated $5.6 billion versus $5.5 billion in June a year ago, according to the latest data from the Department of Commerce. While a 2 percent gain may sound modest, it is a dramatic recovery from Marc...Read More
RAPAPORT... Tiffany & Co. will give consumers full details of each diamond's route from mine to jewelry, encompassing therough's origin as well as the locations of cutting, grading and setting.Beginning in October, the US retailer will share the story of each newly sourced diamond weighing 0.18 carats or more, it announced Tuesday. This builds on its existing practice of disclosing the re...Read More
(IDEX Online) - Residents living near a diamond mine in Sierra Leone are seeking $288m in damages for illnesses allegedly caused by air and water pollution.They are seeking a freezing order on assets belonging to Guernsey-registered Octea, a subsidiary of Israeli billionaire Beny Steinmetz's BSG Resources, which is now in administration.An affidavit filed at Sierra Leone's High Court cla...Read More
Hot-rolled coil prices in the United States slid below $24 per hundredweight ($480 per short ton) on Wednesday August 19 after clearing that hurdle the day before for the first time since July 6.Fastmarkets' steel hot-rolled coil index, fob mill US was calculated at $23.85 per hundredweight on Wednesday, down 0.7% from $24.03 per cwt on Tuesday August 18 but up 3.9% from $22.96 per cwt on Wednesda...Read More
Steady raw material costs and increasing demand from the automotive and construction sectors have kept wire rod prices in the United States firm, market participants said. Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US held at $29-29.50 per hundredweight ($580-590 per short ton) on Tuesday August 18. This is down by 8.6% from $31.50-32.50 year over...Read More
Steel rebar producers in the United Arab Emirates have increased their prices recently, and were unwilling to give discounts because of high production costs, sources told Fastmarkets on Wednesday August 19.The country's biggest rebar producer, Ezz Steel, has been offering the product since August 17 at 1,830 dirhams ($498) per tonne ex-works for orders to be produced in September. This was up fro...Read More
The price of steel H-beams in Europe was unchanged again in the week ended Wednesday August 19, but market participants expected to see increases by September at the latest, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?530-560 ($631-667) per tonne on Wednesday, unchanged week on week.In the south of Europe, prices were also...Read More
Domestic prices for heavy steel plate in Europe were stable over the week to Wednesday August 19, due to the seasonal summer lowdown, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged over the week at ?,?450-470 ($536-560) per tonne on August 19.The assessment was based on deals heard in early August at ?,?450 pe...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesEarth-i and Marex Specton's SAVANT platform, which uses satellites to monitor about 90% of global copper smelting capacity, said the global activity dispersion index averaged 41.5 in July, the lowest reading since March 2018.It said China's index dropped to 43.1, its lowest since December and the first level below 50 this year, whi...Read More
The US ferrous scrap export market has been locked in a holding pattern since overseas buyers retreated to the sidelines over the past week following a flurry of activity earlier this month.Interest in the deep-sea market from Turkey, the biggest buyer of US ferrous scrap, has died down amid reports that the country's long steel demand has been affected by a weakening Turkish lira and a strengthen...Read More
Most of the base metals on the London Metal Exchange were consolidating this morning, Wednesday August 19, after the majority of them extended gains on Tuesday; the exceptions were aluminium and tin, while copper was where the main action was this morning.The S&P 500 and Nasdaq established fresh record highs on Tuesday, while Asian-Pacific equities were mixed this morning.Gold prices are consolida...Read More
Prices for 300-series stainless steel scrap continued to climb week on week in the United States, even as the impact of the Covid-19 pandemic has continued to hobble the economy.While the 400-series stainless scrap grades mostly moved sideways in reaction to the ferrous market, the 300-series stainless scrap grades continued to move up, supported by nickel's upward momentum."With the London Metal...Read More
Ferrous scrap exports from the United States continue to gain traction after collapsing in the spring, with shipments edging up by 0.8% month on month in June, according to the latest figures from the US Census Bureau.US exports of ferrous scrap totaled 1,410,434 tonnes in June, up from 1,399,638 tonnes in May as increased deliveries to Turkey and Canada offset a sharp fall in exports to Banglades...Read More
The Turkish deep-sea scrap import market has remained quiet so far this week, with mills staying away due to weak finished long steel demand, sources said on Wednesday August 19.The country's steel producers halted their deep-sea bookings on August 7, when the price for HMS 1&2 (80:20) was $285 per tonne cfr for material from the United States and the Baltic Sea.Since then, no significan...Read More
A sharp rise in the Kanto auction price and improved demand from South Korea helped Japanese export steel scrap prices rise over the last week, market sources told Fastmarkets on Wednesday August 19. Japan's monthly Kanto Tetsugen, which is an auction between a cooperative of scrap dealers in the Tokyo region, was moved back one week from its usual slot in the second Wednesday of the month due to...Read More
Seaborne premium hard coking coal prices in the cfr market edged lower on Wednesday August 19 on recent transactions. Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.56 per tonne, up $0.07 per tonne Premium hard coking coal, cfr Jingtang: $114.57 per tonne, down $0.50 per tonneHard coking coal, fob DBCT: $85.02 per tonne, unchangedHard coking coal, cfr Jingtang: $98.29 per tonne, uncha...Read More
Iron ore fines prices gained ground on Wednesday August 19 with healthy demand continuing, sources said, while the decrease in China domestic iron ore production in July could help push prices up.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.09 per tonne, up $0.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $128.39 per tonne, up $1.31 per tonne58% Fe fines high-grade premium, cf...Read More
A simmering dispute between Japan and South Korea is expected to inflict further damage on the trading relationship and diplomatic ties between the two countries, analysts told Fastmarkets this week.Two weeks ago, the District Court in Daegu, South Korea, approved the seizure of Nippon Steel assets in the country to compensate Korean men forced to work in Nippon's factories during the Se...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Traders were waiting for an announcement on interest rates at 2:00 PM EDT by the Federal ReserveThe Canadian Dollar slipped 0.05 at US76.02 cents following release of Canada's July Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.4% versus a gain of 0.8% in June. Actual wa...Read More