Base metals prices on the London Metal Exchange closed in negative territory across the board on Tuesday January 30, with nickel slumping over 3%. Nickel prices rallied to a fresh two-and-a-half-year high of $13,915 per tonne last week, but has now come under increased selling pressure and a downward correction. "It's [nickel's] price action can be quite volatile. We are seeing broad based ri...Read More

ABN Amro's Casper Burgering took the top spot on Metal Bulletin's Apex 2017 yearly base metals leaderboard with an accuracy rating of 96.4%.In second place for base metals was Investec with an accuracy rating of 96.1%, while Ed Meir of INTL FCStone was in third with 96%. Metal Bulletin Research took fourth place with 95.60% and Bert Melek from TD Securities was fifth with 94.10%. In the precious m...Read More

RAPAPORT... Swiss watch exports grew last year amid stronger demand fromAsian markets, the Federation of the Swiss Watch Industry reported Tuesday.Exports for 2017 increased 2.7% year on year to $21.29billion (CHF 19.92 billion). Shipments to China jumped 19% to $1.64 billion(CHF 1.54 billion), while supply to Hong Kong rose 6% to $2.7billion (CHF 2.52 billion). Those improvements outweighed...Read More

Most of the prices for rebar and billet in the United Arab Emirates and Saudi Arabia were stable this week while imports were silent, sources told Metal Bulletin on Tuesday January 30.Demand for local rebar, meanwhile, was strong in the UAE. Domestic rebar Major local rebar producers in the UAE announced new prices on January 16. The country's biggest producer, Emirates Steel, is offering rebar at...Read More

RAPAPORT... The Bharat Diamond Bourse (BDB) will host its first Indian DiamondWeek, featuring 200 to 250 polished-diamond companies, the organization saidMonday. The event, which will take place in April in Mumbai, aims tofoster connections between global buyers and Indian bourse members. While WorldFederation of Diamond Bourses (WFDB) members will receive priority, the eventis open to all diamond...Read More

(IDEX Online) - De Beers sold rough diamonds with a provisional value of $665 million in the first sales cycle (Global Sightholder Sales and Auction Sales) of 2018, due to industry restocking following the holiday sales season.   Bruce Cleaver, CEO, De Beers Group, said: "Following positive early signs for diamond jewellery sales over the holiday season in the US, the need for the industry to...Read More

The latest metal markets news and price moves to start the North American day on Tuesday January 30.Base metals prices on the London Metal Exchange were lower across the board after prices corrected from last week's gains.Nickel prices are the worst affected, down over 2%, as the result of a sell-off. But prices do remain firmly above the $13,000 per tonne barrier...Read More

JOHANNESBURG (miningweekly.com) – Diamond miner De Beers achieved an “encouraging” sales performance in the first sales cycle of this year, with industry restocking contributing to increased demand for rough diamonds.The company sold $665-million worth of diamonds in the sales cycle, compared with sales of $445-million in the tenth cycle of 2017.Advertisement“This seasonal...Read More

RAPAPORT... The Gemological Institute of America (GIA) will offer $2million in scholarship funds in 2018 to students in its gemology and jewelry-manufacturing-arts programs.  The fund includes a new $500,000 endowment -the Charles and Erna Leutwyler Memorial Scholarship - named for two Texas jewelryretailers and GIA alumni, and donated by their estate. The scholarship provides$18,000 toward s...Read More

(IDEX Online) - Nine of the leading diamond and jewelry industry organizations (AWDC, CIBJO, DPA, GJEPC, IDI, IDMA, USJC, WDC and WFDB) have released a jointly developed Diamond Terminology Guideline.   It aims to encourage full, fair and effective use of a clear and accessible terminology for diamonds and synthetics diamonds by all sector bodies, organizations, traders and retailers.  ...Read More

Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Tuesday January 30.Base metals prices on the Shanghai Futures Exchange were all weaker during Asian morning trading on Tuesday, with a correction underway across the complex following a strong performance in the previous session.Check Metal Bulletin's live futures report here.LME snapshot...Read More

VANCOUVER (miningweekly.com) – TSX- and Nasdaq-listed diamond producer Mountain Province Diamonds has signed a definitive arrangement agreement whereby it will buy its exploration spinout Kennady Diamonds in an all-scrip deal worth about C$176-million, the companies announced on Monday.News of the transaction buoyed Kennady's TSX-V-listed stock, lifting shares more than 20% to C$3.31 api...Read More

RAPAPORT... Mountain Province Diamonds will purchase exploration group KennadyDiamonds in an all-share deal, reuniting two Canadian companies that split fiveyears ago. For each Kennady share, its investors will receive 0.975 ofa Mountain Province share, valuing Kennady at $142.7 million (CAD 176 million),the miners said Monday. Once the transaction is complete, Mountain Province shareholderswill o...Read More

RAPAPORT... Rough prices rose at Stornoway Diamond Corporation's firstsale of 2018 as the market improved and the company sold higher-quality productionfrom its Renard mine. Last week's tender in Antwerp achieved an average price of$104 per carat, Stornoway's highest price to date, the miner reported Monday. Somelarger diamonds fetched $140 per carat, while 24 stones above 10.8 carats wentfor an a...Read More

RAPAPORT...Trend forecasting is equal parts science and art - you needto be widely aware of key happenings in your industry, and discerning enough toknow which ones will be most influential. Fortunately for readers, RapaportMagazine has been paying attention, and has tapped the savvy minds of thejewelry trade to get a sense of what's coming. Below are the fruits of theseefforts: 12 trends affectin...Read More

Price forecast accuracy of 99.35% in Q4 2017 MB published the results of its Q4 2017 Apex survey of metal price forecasters, including ranking its participants by the accuracy of their forecasts. MBR has a good track record of high and consistent accuracy. Last quarter we were the top forecaster of the 20 analyst or trading desks polled. Our average accuracy across all the base metals was 99.35%....Read More

RAPAPORT... De Beers' auctions division will sell diamonds from othermining companies so clients can access a broader range of goods. The company will pilot the new program this year, making iteasier for customers to buy their entire supply in one place, Neil Ventura, DeBeers' executive vice president of auction sales, said in a blog post Monday. DeBeers will use the test period to determine wheth...Read More

Prices have been sensitive to dollar volatility The recent strength in LME aluminium prices seems to be mainly macro driven, reflecting a sharp sell-off in the dollar. The dollar index dropped a whopping 1% last Wednesday, marking its lowest level since December 2014. The sell-off was partly triggered by US Treasury secretary Steven Mnuchin’s comments (“weaker dollar is good for trade
...Read More

Aluminium Aluminium has been underpinned by rising support from its 20 DMA since January 9, which currently stands at $2,221 per tonne. While prices tested below this support last week, the lower shadows on the daily candlesticks imply dip-buying interest remains. But attempts to rally have struggled to gain traction above $2,250 per tonne. Failure to hold immediate support at the 20 DMA risks rev...Read More

U.S. equity index futures are lower this morning. S&P 500 futures were down 11 points in pre-opening trade.Apple dropped $2.00 to $165.96 on reports of a slowdown in iPhone production. The stock is expected to open below support at $166.46.Fourth quarter reports continue to flow in. Reports released this morning included Harley Davidson, McDonalds, Pfizer and Aetna.Thomson Reuters gained $4.55...Read More