(IDEX Online) - The Jewelers of America Political Action Committee (JAPAC) led a delegation of jewelers to Washington, D.C., on June 20 for the eighth consecutive year. The group met with lawmakers less than 24 hours before the U.S. Supreme Court announced a key decision on sales tax fairness, overturning the Quill decision that established the current system under which states are prohibited fro...Read More
RAPAPORT... Rapaport Academy has created two online courses to helpretailers improve their digital marketing and sales. The e-learning platform launched the new programs inresponse to retailers' requests for extra resources to help their online andin-store activities, it said Wednesday. Digital Marketing Essentials forJewelers teaches retail-store owners how to use online marketing to boost theirb...Read More
RAPAPORT... Pallinghurst Resources has changed its name to GemfieldsGroup as it turns its primary focus to colored gemstones. The group's shareholders overwhelmingly voted in favor ofthe change at its annual general meeting Tuesday. It will use the new name onthe Johannesburg Stock Exchange beginning July 11. The company, which also extracts platinum-group metals and manganese, pursued the name ch...Read More
(IDEX Online) - Lucara Diamond Corp. reports that the remaining Indicated Mineral Resource for Karowe's AK06 kimberlite includes 7.9 million carats hosted in 57.85 million tonnes (in situ and stockpile) at an average grade of 13.7 carats per hundred tonne (cpht) with an average modelled diamond value of US$ 673 per carat. These new results will be used for mine planning and to support the pre...Read More
Prices for flat-rolled steel imports into the United States have jumped along with higher domestic prices and increased costs for foreign hot band.American Metal Market's price assessment for imported hot-rolled coil has increased to $820-880 per from $810-860 per ton previously.That higher end of the price range represents Turkish material - inclusive of 25% Section 232 tariffs and applicable ant...Read More
RAPAPORT... Alrosa sold $10.5 million worth of rough diamonds at anexceptional-stone tender in Dubai, the miner said last week. The 111 stones - each over 10.8 carats - weighed a combined1,725 carats, and fetched an average price of $6,087 per carat. "The auction...concluded with excellent results for us," said EvgenyAgureev, director of the United Selling Organization Alrosa. The final averagepri...Read More
Turkish imported billet prices have gone up on higher offers from CIS suppliers, while domestic and export billet prices have gone down amid weak demand over the past week, sources said on Thursday June 28.Suppliers in the CIS region have raised their billet offers for Turkish customers to $540-550 per tonne cfr levels, but failed to sell at those prices, according to the sources."CIS mills were t...Read More
Key data from Metal Bulletin's Wednesday June 27 pricing session in China.Key drivers- Price weakness in domestic and foreign ferro-molybdenum markets has pressured Chinese miners to lower their offer prices for molybdenum concentrates.- Ferro-molybdenum tender prices from Chinese steel mills dipped to 106,000-109,000...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday June 28.Base metals prices on the Shanghai Futures Exchange were generally up during Asian morning trading on Thursday, with the complex continuing to benefit from easing concerns surrounding global trade tensions. Check Metal Bulletin's live futures report here.Steel and aluminium pu...Read More
It is not about whether or not gold is currently oversold; rather it is all about whether or not the U.S. dollar is overbought. The current selloff in gold, which began immediately following prices reaching the 2018 apex at $1,370 ounce, has been driven first and foremost by dollar strength. It is the dollar leading gold prices and not the other way around. There are market analysts who are lookin...Read More
(Kitco News) - Gold and silver prices are trading moderately lower in early-afternoon U.S. dealings Thursday. Gold hit a nearly 12-month low today and silver notched a seven-month low. Gold and silver bulls need a good dose of bullish fundamental news, which has been absent from the marketplace in recent weeks. Chart-based sellers in the futures markets have been emboldened this week, amid price d...Read More
(Kitco News) - Detour Gold Corp. (TSX: DGC) has updated the life-of-mine (LOM) plan for its Detour Lake operation, making changes aimed at reducing large annual fluctuations in the amount of gold that is mined but conceding some higher costs that were contained in the previous plan.However, the company’s chief operating officer also pledged to work on reducing those expenses. And while Detou...Read More
(Kitco News) - Gold prices are seeing a very limited reaction to disappointing U.S. gross domestic product data that showed weaker than expected growth in Q1, according to the U.S. Commerce Department. The final estimate of the first-quarter gross domestic product showed the U.S. economy growing at an annual rate of 2% versus the expected 2.2%. This is the third GDP reading. The very first estimat...Read More
Three-month base metals prices on the London Metal Exchange were marginally higher during morning trading on Thursday June 28, with the complex up by an average of 0.2%. Nickel led the gains with a 0.7% increase to hover near $15,000 per tonne, followed by aluminium that was up by 0.3%, while lead and tin edged up by 0.1% and copper and zinc were little changed. Volume has been quite light with 3,...Read More
The latest bids, offers and deals in the global markets for ferrous scrap products. Latest transaction: HMS, shredded, P&SHMS, shredded, P&STurkey, import, 30,000 tonnes of shredded traded at $368 per tonne...Read More
Trading Places was the hit movie in the 1980s, with a scene in which Winthorp and Valentine were in the frozen-orange-juice pit watching the market going straight up. Valentine, getting nervous, says to Winthorp, “Louie, is it time?” The answer was simple -- not now. They watched the rally continue, waiting patiently for their opportunity. The gold market is becoming very similar to th...Read More
Turkish steel producers continued their deep-sea scrap purchases for August deliveries on Thursday June 28.A steel mill in northern Turkey booked a Canadian cargo, comprising 30,000 tonnes of shredded and 20,000 tonnes of HMS 1&2 (90:10) at an average price of $368 per tonne cfr.And a steel mill...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
China's domestic coking coal prices were relatively stable in the month of June despite adjustments to assessment prices due to time lag as a result of their relatively static nature compared with their seaborne counterparts, sources said. Metal Bulletin's weekly assessment of domestic prices for hard coking coal in Shanxi delivered to Tangshan stood at 1,390-1,750 yuan per tonne on Thursday June...Read More
WASHINGTON (Reuters) - President Donald Trump’s nominee to head the Internal Revenue Service promised independent leadership of the U.S. tax-collecting agency on Thursday, but drew a senator’s criticism for not disclosing business ties to a Trump-branded hotel in Hawaii.Charles Rettig, a Beverly Hills, California, tax lawyer, will be tasked with implementing Trump’s sweeping new...Read More