Volatility in Gold & Silver has spiked significantly over the last month, yet few commentators have actually offered an explanation as to why...John Lee interviewed by Chris Marcus on Arcadia EconomicsThe volatility in the gold and silver markets has spiked significantly over the last month.And while few commentators have actually offered an explanation as to why that's happening, John Lee of Silv...Read More
The three-month price of copper on the London Metal Exchange was the underperformer at the close of trading on Thursday August 20, with the price holding above nearby support despite losing more than 1.2% over the day.Meanwhile, zinc futures struggled to hold ground above the $2,500-per-tonne threshold.Copper's outright price on the LME closed at $6,601.50 per tonne on Thursday afternoon, falling...Read More
The seaborne premium hard coking coal fob index edged up on Thursday August 20 due to the bullish market sentiment from India, while Chinese participants, however, still feel trapped by a lack of coking coal import quotas, Fastmarkets heard.Fastmarkets indices Premium hard coking coal, fob DBCT: $104.17 per tonne, up $0.61 per tonne Premium hard coking coal, cfr Jingtang: $114.60 per tonne, up $...Read More
Seaborne iron ore prices were largely stable on Thursday August 20 in a much calmer market than the previous three days of trading, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.32 per tonne, up $0.23 per tonne 62% Fe low-alumina fines, cfr Qingdao: $128.59 per tonne, up $0.20 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $114.95 per tonne, up $0.4...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US market at risk of slidingPrices for pipe products were at a floor in the United States in mid-August, and have been broadly stable at that level since the start of the second quarter, but they are at risk of declining further in the coming months.Drilling rig counts have yet to find a floor and have fallen below most esti...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... De Beers has reduced prices of rough larger than 1 carat ahead of next week's sight amid a gradual improvement in demand and shortages in certain categories, sources told Rapaport News. The reductions were around 6% to 8%, according to sightholders and other industry insiders who spoke with Rapaport News Thursday. "Very few people have seen their goods and received their prices, b...Read More
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