Prices for steel billet imported into Egypt dropped again in the week ending Thursday January 30 amid weak demand, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,650-10,000 ($610-632) per tonne ex-works including 14% VAT, unchanged since last week.Deals were heard at these prices.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar),...Read More
Iranian export steel billet and slab markets were slow in the week to Thursday January 30, with Chinese market participants still away for Lunar New Year and US sanctions undermining buying appetite. The steel billet index export, fob Black Sea, CIS slipped by $4 per tonne over the week, to $392 per tonne on January 30 amid weakening scrap prices. Fastmarkets' daily index for s...Read More
Turkish long steel export prices remained steady over the past week, with no immediate expectations of an upturn due to falling imported scrap costs, sources said on Thursday January 30.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey, was unchanged week on week at $425-430 per tonne on Thursday.Steel mills in the country were offering the materia...Read More
The Wuhan coronavirus will likely influence fundamentals in China's steel market and Chinese export trends in the near future, sources told Fastmarkets this week.Industry sources have sketched out a number of scenarios that may happen, especially if the situation becomes drawn out and restrictions on travel and transportation persist into the foreseeable future."If logistical restrictions continue...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 most important driver of the zinc market in 2020 will be the performance of the world’s zinc smelting industry, according to Wood Mackenzie.The easing of trade tensions between the US and China, the struggling manufacturing...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.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.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.On Friday 15th February 2019, Vale announced there was a fire affecting a conveyor belt system at its distribution centre in Malaysia. Vale anticipate this will result in a 10 to 15 day halt in operations and note that a planned 10 da...Read More
Chinese coronavirus outbreak raising concerns about retail demand as businesses extend Lunar New Year shutdown. Travel restrictions likely to affect global trading, leading to possible polished oversupply following strong rough demand. De Beers Jan. sales +9% to $545M as sightholders replenish inventory after good holiday season. Petra Diamonds 1H revenue -6% to $194M but notes rough-price increas...Read More
Slow movement with few overseas buyers visiting during Chinese New Year. Some shortages following reduction in polished production. Manufacturing profits thin as rough prices strengthen at start of year. Cutters and traders increasingly considering lab-grown diamonds in search of better profit margins. Local jewelry market weak despite wedding season. Health scare in Asia adding to caution. Roun...Read More
RAPAPORT... Higher-priced luxury watches have gained popularity among consumers in the past five years, according to a report by Watches of Switzerland. Timepieces valued above GBP 10,000 ($13,073) represented 37% of the group's sales in the men's market in 2019, compared with 34% in 2014, the jeweler reported Thursday in its 2019 Luxury Timepiece Market Trends Report. Those priced between GB...Read More
Japanese scrap prices continued to tumble this week, pushed down by disappointing demand in both the domestic and export markets, sources told Fastmarkets on Thursday January 30. "Steel mill production and demand in Japan is not so good, so scrap prices are decreasing, but scrap generation is also poor," one scrapyard source said "So even though the local mills' buying prices are falling, I don't...Read More
RAPAPORT... Industry veteran Michael O'Connor will join The Plumb Club as marketing director. He will be responsible for creating and developing new methods for shaping the future of the industry.O'Connor has worked in various positions in the industry over the past 35 years, including retail, manufacturing, design and strategic marketing, The Plumb Club said Wednesday. He was previously dire...Read More
(IDEX Online) - With financing in the diamond industry increasingly tight, Russian banks could step in to inject some much needed funds into the market. Eximbank of Russia, which is part of the Russian Export Center Group, has issued its first loan to a diamond company. The loan agreement, which was underwritten by Exiar, provides for a 24-month revolving credit line in euros to Belgian compa...Read More
(IDEX Online) - The Responsible Jewellery Council (RJC) has released a revised version of its Chain of Custody (CoC) standard to all members to be certified for their silver supply chain.The voluntary standard already has certification in place for gold and platinum group metals.An updated version of the CoC standard will be available to members from 30 January."Our standard offers a tool for memb...Read More
Heavy rainfall in the Brazilian southeastern state of Minas Gerais has caused interruptions for some railway operators transporting iron ore for exports, but the impact has been minimal, companies told Fastmarkets on Wednesday January 29.January 2020 has had the highest rainfall rate in 110 years, the Minas Gerais' state governor office said on Wednesday. Vale, the world's largest iron ore pr...Read More
(IDEX Online) - Swiss jeweler De Grisogono has filed for bankruptcy, putting 65 jobs at risk. The Swiss luxury jeweler is caught up in an alleged money-laundering scandal involving Angola's richest woman, Isabel dos Santos, and her husband, Sindika Dokolo.Dos Santos is the daughter of Angola's former president, Jos?? (C) Eduardo dos Santos, who ruled Angola for 38 years until 2017. She i...Read More
RAPAPORT... Sales of jewelry and watches at LVMH increased 7% in 2019 amid a strong year for Bulgari.Revenue from the categories rose to EUR 4.41 billion ($4.85 billion), driven by Bulgari's Fiorever collection, which contributed significantly to growth following its launch at the end of 2018, LVMH said Tuesday. The brand's Serpenti Seduttori watch line was well received, while Chaumet and Hu...Read More
(IDEX Online) - The Plumb Club has appointed Michael O'Connor as marketing director. O'Connor, an industry veteran with over 35 years' experience in the industry, will be in charge of the organization's strategic marketing plan and initiatives.He has held positions as director of corporate marketing for Frederick Goldman, Inc., as well as senior vice-president for Platinum Guil...Read More
Seaborne coking coal prices were unchanged on Thursday January 30, despite Australian miner Anglo American confirming a 'geotechnical issue at Moranbah North [mine in Queensland, Australia] during development works, which resulted in a roof fall incident.'Fastmarkets' indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $162.73 per tonne, u...Read More