SURAT (Thomson Reuters Foundation) - After polishing diamonds destined for luxury stores from New York to Hong Kong for nearly 10 hours in a cramped workshop in western India, Vikram Raujibhai went home, waited for his family to leave, and locked the front door.Raujibhai doused himself in kerosene and lit a match.His family returned to find the 29-year-old's charred body, his case the latest in a...Read More
Capital discipline or growth? It's THE big question hanging over commodity producers, mining as much as oil and gas.We touched on the oil Majors' approach last week. The US Independents' results last week gave another take on how companies are thinking. US E&P behaviour was challenged a year ago as investors kicked up a fuss about the high investment rate in the tight oil sector. Concerns cent...Read More
RAPAPORT... Alrosa's sales climbed 7% to $390.3 million in June amid robustdemand for rough diamonds, the miner said Tuesday. "In the second quarter, there was almost nonoticeable seasonal drop traditional for this period," said deputy CEO YuryOkoemov. Rough-diamond sales increased 8% year on year to $383.7million for the month, while polished revenue dropped 38% to $6.6 million. Alrosa raised pri...Read More
The oil market downturn and the tone set by the Paris Agreement have already shifted the focus away from fossil fuels, but how quickly could we see the tides change and decisively tip the scales to renewables?Together with Greentech Media, a Wood Mackenzie company focused on researching decarbonisation and the decentralisation of energy, we've created our carbon-constrained scenario. This is an al...Read More
RAPAPORT... Michael Hill saw a 3.3% revenue increase over the last fiscalyear, led primarily by sales in its Canadian stores, the Australia-basedjeweler reported. Revenue rose to $447.2 million (AUD 599.7 million) for the12 months ending June 30, the retailer said Monday. Overall same-store sales - atbranches open more than one year - rose 0.4% to $396 million (AUD 531.1million). Same-store sales...Read More
RAPAPORT... The US polished-diamond trade saw significant year-on-yeargrowth in April, according to the latest government data. The 20% increase inimports reflected both a higher volume and an improved average price. Shipmentsin and out of the US increased in the first four months of 2018. US Diamond Trade Data for April 2018Read More
(IDEX Online) - The International Gemological Institute (IGI) will open its 13th branch in Bengaluru which will evaluate diamond jewelry as well as providing educational services in gemology. The Bengaluru branch complements IGI's established laboratories in Thrissur, Chennai and Hyderabad. The state-of-the-art laboratory will evaluate and certify jewelry to the same international stand...Read More
Energy commodity markets have experienced a high degree of volatility in recent years, with large movements in prices and processing margins throughout the energy value chain (i.e. oil, gas, coal, refining, and shipping). The oil storage sector has also experienced a great deal of change but the impact to the bottom line has been relatively less severe thanks to a supportive market env...Read More
RAPAPORT... Trans Atlantic Gem Sales (TAGS) garnered $35 million from atender of rough diamonds in Dubai in June, it said Monday.The company sold 27,161 carats of high-qualitystones sourced from mines in South Africa and Angola. The diamonds fetched anaverage price of $1,288 per carat during the event at the Almas Tower. Some 126 companies attended the sale, the seventh thecompany has held this ye...Read More
Not long ago, growth was the big thing. Listed oil and gas companies set aggressive production targets to woo investors, though few succeeded in hitting them. Value then usurped volume as the industry's Holy Grail. This results season suggests growth targets are making a come back.Pioneer has set a production target that fractures conventional wisdom. The US tight oil specialist estimates that its...Read More
JOHANNESBURG (miningweekly.com) – Significant demand growth is under way in the platinum jewellery market, which remains the second biggest ounce contributor to platinum demand at 2.5-million ounces of yearly fabrication, some 35% of total demand.“We’re seeing a lot of growth in the market. Obviously, the platinum price is really helping us in many of our markets where we’r...Read More
(IDEX Online) - Stornoway Diamond Corporation has provided the following production and sales results at the Renard Diamond Mine for the second quarter ended June 30. (All quoted figures in CAD$ unless otherwise noted)?EUR? 201,283 carats sold in two tender sales for gross proceeds of $28.6 million at an average price of US$109 per carat ($142 per carat). ?EUR? Second quarte...Read More
The mood has definitely changed. That much has been clear at the biannual Offshore Europe mega conference in Aberdeen. The hubris evident at the 2013 event ('before the fall') gave way to gloom two years later. This week's 2017 event was noteworthy for its 'realism', bordering on the optimistic. Things are certainly better than they were.The vibe reflects the progress the industry is making global...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarOman, export, rebar, offered at $615-620 per tonne cfr, theoretical weight,...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBilletIran, export, billet, offered...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil (2mm), offered at $630 per tonne cfr, to the UAE.India, export, hot-rolled coil (2mm), traded at $610 per tonne...Read More
Italian re-roller Marcegaglia terminated its membership of national steel association Federacciai on July 5, the company announced on Tuesday July 10."I note with regret that, in recent discussions on fundamental issues of international trade, from dumping to the operating procedures for the application of the safeguard clause, Federacciai has decisively confirmed itself to be 'the association of...Read More
European flat steel product distributors reported a 6.3% year-on-year drop in shipments in May, the regional federation for steel, tube and metals distribution and trade, Eurometal, said on Tuesday July 10."After quite some overstocking, mainly in coated products, stocks of EU steel service centers are slowly coming back to normal," Eurometal said.Metal Bulletin's weekly assessment of domestic pri...Read More
Michael Lillja will leave his position as head of marketing at Finnish speciality alloys company Afarak on September 1.He will start a new position within the steel and alloys sector on September 3."It has...Read More
Global ferro-vanadium and vanadium pentoxide (V2O5) prices experienced considerable gains over the past week, taking their cue from strength in the Chinese domestic market. Chinese ferro-vanadium, V2O5 export prices rise in response to strength in domestic market European ferro-vanadium prices strengthen in line with Chinese market European V2O5 prices surge on supply concerns US FeV market conti...Read More