Comex copper prices fell to a one-month low on Tuesday January 23 morning in the US on the back of increased supply.Copper for March settlement on the Comex division of the New York Mercantile Exchange fell 7.05 cents or 2.2% to $3.1380 per lb. Copper on-warrant stock levels on the London Metal Exchange are now at their highest since October 20, 2017, after today's delivery. Over 40,000 tonne...Read More

Turkish steel producers were in negotiations for deep-sea scrap purchases while prices stabilized on Tuesday January 23, Metal Bulletin has learnt.After booking a number of deep-sea cargoes at the end of the last week, Turkish steel mills were expected to book more deals for February and March."The market has stabilized and...Read More

Prices for rebar in the United Arab Emirates and Saudi Arabia were stable this week while billet import prices in the UAE narrowed with a new deal, sources told Metal Bulletin on Tuesday January 23.Demand for imported rebar, meanwhile, was still very weak in both countries because local prices were more competitive.Domestic rebarMajor local rebar producers in the UAE announced new prices on Januar...Read More

RAPAPORT... Sales of Forevermark diamonds soared this holiday as DeBeers ramped up marketing of its retail brand, the miner said. Jewelers sold 38% more Forevermark stones during the 2017season versus last year, with sales for the whole year rising 25%, De Beers CEOBruce Cleaver said in a speech to the brand's stockists last week. The Forevermark Tribute campaign, which targeted femaleself-purcha...Read More

(IDEX Online) - Zimbabwe may consider ending the country's policy of foreign companies in the diamond and platinum sector handing over a 51-percent controlling interest to local citizens, new President Emmerson Mnangagwa said.   Mnangagwa, who became president in November after Robert Mugabe resigned, previously announced that the ownership requirement on all other minerals would be abol...Read More

JOHANNESBURG – Zimbabwe’s new President Emmerson Mnangagwa said his government is considering building reserves of gold and diamonds to back the eventual relaunch of the country’s own currency.The nation abandoned the Zimbabwe dollar in February 2009 after an economic collapse saw inflation surge to about 500-billion percent, according to the International Monetary Fund, after ex...Read More

RAPAPORT... The Company of Master Jewellers (CMJ) has appointed TerryBoot as its new CEO, it said Tuesday. Boot (pictured), previously the UK group's head of finance and businessoperations, has been acting as interim CEO since August, after the departure of10-year company veteran Willie Hamilton. "I stated at the AGM in August that our main businessobjective is to ensure we are putting the focus f...Read More

The latest metal markets news and price moves to start the North American day on Tuesday January 23.Base metals prices on the London Metal Exchange dipped lower across the board during morning trade, with copper prices down 1.5%.The three-month copper price has come under pressure from increased production and high stock levels.Here is how the LME base metals complex looked...Read More

(IDEX Online) - The new Chairman of The Gem and Jewellery Export Promotion Council (GJEPC), Pramod Agarwal, has welcomed the decision by the India's Goods and Services Tax (GST) Council to slash the GST rate on cut and polished diamonds and precious stones to 0.25 percent from 3 percent, saying it will benefit small and medium-size firms and give a boost to the sector.   Agarwal pointed...Read More

RAPAPORT... The UK's Princess Eugenie is sporting a rare sapphire and diamond engagementring after a proposal from her boyfriend of seven years, Jack Brooksbank. Eugenie's fianc?(C) bought the ring, featuring apink-orange padparadscha sapphire stone, from a jeweler, he said. Brooksbank proposedwithout the ring; he and Eugenie later added the surrounding diamonds to create the final piece. He...Read More

JOHANNESBURG – Zimbabwe, which has the world’s second-biggest platinum reserves, may lift a requirement that companies mining the metal or diamonds must be at least 51%-owned by black citizens of the country, President Emmerson Mnangagwa said.Mnangagwa, who became president in November after Robert Mugabe resigned under pressure from the military, has announced that the ownership requi...Read More

Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Tuesday January 23.Copper prices on the Shanghai Futures Exchange gave back some of their gains from the previous session during Asian morning trading on Tuesday, with concerns about increased supply weighing on prices.The most-traded March copper contract on the SHFE fell to 53,680 yuan (...Read More

(IDEX Online) - Sarine Technologies Ltd has announced the official launch of its new Meteorite?,,? system for the cost-effective inclusion mapping of very small rough stones, under 0.35 carats.   Based on the Meteor?,,? system, the Meteorite is "the most cost-effective solution currently available in the industry, to provide inclusion mapping for the segment of very small rough diamonds below...Read More

RAPAPORT... Damiani Group saw sales edge up in the fiscal first half as theItalian jeweler expanded its retail business in markets outside its homecountry. Total revenue climbed 0.2% to $85.7 million (EUR 69.9million) year on year in the six months that ended September 30, the companyreported last week. Retail sales increased 11% to $46.7 million (EUR 38.1million), outweighing a 10% slide in...Read More

Price...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of  market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.Subs...Read More

Aluminium price supported by strong Chinese...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of  market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest iss...Read More

SHANGHAI, Jan 23 (SMM)? 1/4 ?Copper: It appears to be difficult for SHFE copper to break through its several moving averages as physical demand remained sluggish ahead of Chinese New Year due to tighter cash. However, copper prices are unlikely to fall much considering tighter supply of copper ore and copper scrap. We expect prices to be rangebound in the near term.Aluminium: We maintain our view...Read More

SHANGHAI, Jan 23 (SMM)? 1/4 ?Copper: It appears to be difficult for SHFE copper to break through its several moving averages as physical demand remained sluggish ahead of Chinese New Year due to tighter cash. However, copper prices are unlikely to fall much considering tighter supply of copper ore and copper scrap. We expect prices to be rangebound in the near term.Aluminium: We maintain our view...Read More

Aluminium Aluminium has been underpinned by rising support from its...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of  market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus...Read More

SHANGHAI, Jan 23 (SMM)? 1/4 ?Copper: It appears to be difficult for SHFE copper to break through its several moving averages as physical demand remained sluggish ahead of Chinese New Year due to tighter cash. However, copper prices are unlikely to fall much considering tighter supply of copper ore and copper scrap. We expect prices to be rangebound in the near term.Aluminium: We maintain our view...Read More