Export billet prices from the Commonwealth of Independent States increased toward the end of the week after several bookings done at higher prices came to light, sources told Fastmarkets.The Middle East-North Africa (Mena) region including Turkey and the Gulf Cooperation Council (GCC) were not present in the market in the week to Thursday July 22 due to celebrations for the Eid Al-Adha Islami...Read More

Market upbeat despite summer lull and high rough prices. Dealers filling orders, spurring confidence for holiday season. US jewelry sales +108% in June, Mastercard reports. Luxury jewelers make strong recovery. Richemont 1Q jewelry maisons' sales +132% to $3B. Polished prices firm amid supply shortages and consistent demand. Miners drastically reduced rough inventory in 1H; manufacturers raised po...Read More

Fastmarkets has corrected its alumina index, fob Australia, which was published incorrectly on Tuesday July 20 and Wednesday July 21 due to an index calculation error.On July 20, the alumina index, fob Australia, should have been $289.74 per tonne but was incorrectly published as $289.62 per tonne.On July 21, the alumina index, fob Australia, should have been $291.11 per tonne but was incorrectly...Read More

RAPAPORT... Petra Diamonds' sales accelerated in the past fiscal year as the market improved and discoveries of high-value stones paid off.Revenue jumped 38% to $406.9 million for the 12 months ending June 30, the miner reported Wednesday. Sales volume rose 37% to 4 million carats.The company, which operates the Cullinan, Finsch and Koffiefontein mines in South Africa, attributed the growth t...Read More

(IDEX Online) -  Signet is aiming for full gender parity among its corporate leadership.The US jeweler already has a female CEO, and women account for 42 per cent of its board of directors, 50 per cent of its leadership team and 40 per cent of those holding the title vice president and above.It is joining the Paradigm for Parity coalition, which is committed to all women and men having equal...Read More

(IDEX Online) - A diamond manufacturer in Surat was re-united with a box of rough stones worth $27,000 that he left behind at a safety deposit vault.Rahul Moradiya placed it on top of his locker at Katargam Safe, in the Kartargam area of the city, then forgot about it.The manager spotted the box that evening and put it in safe place. Moradiya, who runs a small unit in Bambawadi, returned the...Read More

(IDEX Online) - A bogus gemologist swapped diamonds valued at $7.8m for worthless pebbles in an audacious heist, a court in London has heard.Lulu Lakatos, 60, is alleged to have examined the gems at luxury Mayfair jeweler Boodles (pictured) on behalf of a group posing as wealthy Russian buyers.She then placed the locked purse containing seven diamonds into her handbag, Southwark Crown Court was to...Read More

RAPAPORT... Gem Certification & Assurance Lab (GCAL) will work with Everledger to share provenance and grading data that will help bring increased accountability to diamond sourcing.Through the partnership, the grading lab will be able to search Everledger's provenance information, GCAL said Tuesday. Meanwhile, the blockchain provider will gain access to GCAL's certification data and photos, g...Read More

RAPAPORT... Among the challenges of assessing the lab-grown diamond market is the lack of published data on the sector. That's largely because none of the companies operating in the space are publicly traded, which would require them to disclose metrics such as sales, profit and production. It's largely through public reports by miners such as Alrosa, De Beers (via Anglo American), Petra Diam...Read More

A large-scale expansion at Freeport-McMoRan's El Abra copper mine in Chile is still being evaluated, although potential changes to the country's fiscal regime could lead to its deferment, the US copper producer said.The expansion would see the plant in northern Chile process additional sulfide material and achieve higher levels of copper recovery. According to Freeport, El Abra's large sulfide res...Read More

RAPAPORT... Swiss watch exports exceeded pre-pandemic levels in June amid a recovery in the US and China and strong demand for high-priced timepieces.Global shipments rose 13% compared to the same month of 2019, reaching CHF 1.96 billion ($2.14 billion), the Federation of the Swiss Watch Industry said Tuesday. Exports jumped 71% year on year, reflecting a favorable comparison with the Covid-19 dow...Read More

United States copper producer Freeport-McMoRan reiterated its 2021 consolidated sales target of around 3.85 billion lbs (1.75 million tonnes) of copper while its ramp-up to underground mining at its Grasberg mine in Indonesia continues.This is an increase from 3.2 billion lbs - or 1.4 million tonnes - in 2020, and comes after the company reported lower second quarter copper sales than previously e...Read More

Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 22, but have generally recovered from Monday's weakness, suggesting the dip-buying mentality still dominates. Lead prices at fresh highs as German lead producer Berzelius declared force majeure on supply after severe flooding forced it to suspend operations at its Stolberg smelter. United States 10-year treasury yie...Read More

The Brazilian steel institute A??o Brasil increased its forecast for apparent steel consumption in 2021, predicting a growth of 24.10% from the previous year.Apparent steel use is now estimated to reach 26.61 million tonnes this year, compared with 21.45 million tonnes in 2020, the association said on Thursday July 22. The figure is also higher than May's forecast of 24.66 million tonnes.Main stee...Read More

Hot-rolled coil prices in the United States remained above $91 per hundredweight ($1,820 per short ton) for a third consecutive day, with sporadic mill spot volumes trickling down to a few buyers and others looking to the import market to meet demand.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.27 per cwt ($1,825.40 per ton) on Thursday July 22, a decrease of 0...Read More

US flat steel import prices were flat to down in Fastmarkets' latest assessment, reversing course after hitting record highs two weeks ago."Import prices seem to be dropping," a trader source said. Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston was at $1,620-1,640 per short ton ($81-83 per hundredweight) on Wednesday July 21, down by 2.09% from $1,650-1,700 per ton on July...Read More

The European market for steel hot-rolled coil remained quiet on Thursday July 22, with most producers holding back offers amid seasonally slow trading, sources told Fastmarkets.Sentiment turned negative in Northern Europe after severe flooding in Germany and parts of Belgium reduced trading activity to close to zero, with buyers and sellers assessing the consequences for the market.Even though the...Read More

Uranium Outlook: Ready for lift off at lastSPONSOREDGalan Lithium rides electric vehicle revolutionSPONSOREDgalan lithiumGlobal Atomic is shipshape and in weather for plain sailingSPONSOREDglobal atomicDenison aims for 2022 live ISR field test at PhoenixSPONSOREDdenison minesThe company approved $25 million in funding last year for a prefeasibility study into the underground.Kennecott has an under...Read More

China's domestic hot-rolled coil prices edged lower on Thursday July 22 after market participants reacted to Beijing's latest efforts to stabilize commodity prices.DomesticEastern China (Shanghai): 5,800-5,900 yuan ($897-912) per tonne, widening by 20-60 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange touched an intraday low of 5,802 yuan per tonne in early afternoon tr...Read More

It said world refined copper production was 2.07 million tonnes, compared with usage of 2.14Mt.ICSG said preliminary data had indicated an apparent surplus."In the first four months of 2021, the world refined copper balance, based on Chinese apparent usage (excluding changes in unreported stocks), indicated a surplus of about 70,000t," it said.It said preliminary data pointed to world copper mine...Read More