Turkish domestic long steel prices have fallen in line with the weakening of the country's lira, but are expected to recover soon, sources said on Thursday January 11.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $570-572 per tonne ex-works, down from last week's $580-590 per tonne.The domestic rebar prices in the Izmir and Iskenderun regions were $570-575 per tonne ex-...Read More

The latest metal markets news and price moves to start the North American day on Thursday January 11.Base metals prices on the London Metal Exchange continued to strengthen during morning trading, with zinc prices leading the pack.The three-month zinc price hit a high of $3,375 per tonne and looks set to push toward the $3,400 per tonne resistance barrier. It is being supported by further cancelat...Read More

Good morning from Metal Bulletin's office in Singapore, as we bring you the latest news and pricing stories on Thursday January 11.Nickel prices on the Shanghai Futures Exchange extended their gains during Asian morning trading on Thursday, tracking the strong performance of the metal on the London Metal Exchange in recent days, with robust demand amid a tighter market providing support. Chec...Read More

Diamond trading steady after positive US retail season. Signet disappoints again as Nov.-Dec. sales -3% to $1.9B due to glitches in outsourced credit program, lower sales of Ever Us line, and less effective promotions. Department stores rebound, with Macy's and J.C. Penney seeing jewelry growth. Richemont jewelry maisons' 3Q sales +5% to $2.2B. Rising expectations for Chinese New Year (Feb. 16) af...Read More

(IDEX Online) - Shmuel Schnitzer has stepped down as Chairman of the Israel Diamond Institute after less than two years in the post.   The IDI's Board of Directors has stated its appreciation for his years of service as Chairman of IDI and as a leader of the diamond industry.   The IDI Board released a statement saying, "The Board of Directors of the Israel Diamond Institute would...Read More

(IDEX Online) - Robbers stole an estimated $5.4 million of jewelry and other goods from a boutique in the Ritz Hotel in Paris on Wednesday.   Although police managed to arrest three suspects in central Paris, but at least two others got away, a police official told the media.   A police official said Thursday that one perpetrator dropped a bag with jewels and hatchets when his motorcycle...Read More

RAPAPORT... Businessman Kevin O'Leary has sound advice for people who are about to get married: Don't get into debt. So far, so sensible. Except he is also recommending they skip the engagement ring, blaming our industry in the process as the "people trying to figure out how to extract money from you." In an interview with CNBC Make It, he singles out the wedding ring retailers who, in his op...Read More

Comex copper prices inched higher Thursday January 11 morning in the US due to a weaker dollar in an overall shallow market.Copper for March settlement on the Comex division of the New York Mercantile Exchange increased 0.55 cents or 0.2% to $3.2410 per lb. The dollar has softened gradually since mid-December and was recently trading at a one-week low of 91.94 on the...Read More

(IDEX Online) - Russian mining giant ALROSA sold $4.17 billion of rough diamonds last year.   "In 2017, rough diamond demand was fairly stable, market activity was in line with the seasonality and our expectations," said ALROSA Vice President Yury Okoemov.   "The average price of rough diamonds sold by ALROSA was a little lower than a year ago, which is due to the changed sales assortme...Read More

RAPAPORT... Shmuel Shnitzer has left his post as chairman of the IsraelDiamond Institute (IDI). The IDI board appointed Boaz Moldawsky acting chairman,the institute announced Thursday. Shnitzer (pictured) has served in numerous industry positions over the past 30 years, including as president of the Israel Diamond Exchange (IDE) and cofounder of the WorldDiamond Council. He began his term as...Read More

There were no queues at London Metal Exchange-approved warehouses in December for any metal, according to data released by the exchange this week. In November, just one queue remained at LME warehouses. ISTIM Metal LLC in New Orleans had an eight-day queue for copper, lead, aluminium and zinc. This follows the end of the infamous Access World Vlissingen queue in September 2017 after six years...Read More

Iron ore prices rose just above $79 per tonne cfr China on Thursday January 11 following news of a cyclone developing off the coast of Western Australia resulting in the closure of the Port of Port Hedland.Metal Bulletin's 62% Fe Iron Ore Index Today: $79.08 per tonne cfr Qingdao Daily change: up by $0.77 per tonne Month-to-date average: $77.08 per tonne Metal Bulletin's...Read More

RAPAPORT... Sterling Jewelers has sued Alex and Ani for more than $2million over a supply deal that resulted in a dispute over inventory returns,court filings show.The two companies entered into an agreement in August 2015under which Sterling would buy merchandise from Alex and Ani to sell in some ofSterling's Jared stores, according to the lawsuit filed in Ohio last month.That deal stipulated tha...Read More

RAPAPORT... Tiffany & Co.'s senior vice president of strategy and businessdevelopment Jean-Marc Bellaiche is set to leave the company at the end ofMarch, according to a Tuesday SEC filing. Bellaiche has been responsible for non-jewelry products,such as watches, leather goods, eyewear and fragrances, since he joined thecompany in 2014.Tiffany will not replace Bellaiche, but is planning to absor...Read More

RAPAPORT... Sales at Richemont's jewelry maisons grew 5% yearon year to $2.18 billion (EUR 1.83 billion) in the fiscal third quarter of 2017, which included the  holiday season. The jewelry maisons, which include Cartier and Van Cleef & Arpels, were the company's strongest performers for the three months that ended December 31. Overall group sales advanced 1% to $3.72 billion (EUR 3....Read More

Base metals prices on the London Metal Exchange are generally higher this morning, Thursday January 11, with aluminium leading the way with a 0.8% gain to $2,203 per tonne, while tin is the one bucking the trend with a 0.3% decline. Nickel prices are unchanged, while the rest are up by between 0.2% and 0.4%, with copper prices up by 0.3% at $7,169 per tonne.Volume has been average, with 6,933 lots...Read More

SHANGHAI, Jan 11 (SMM) – Nonferrous metals traded up for the most part today with SHFE aluminium leading the gains with 1.2% rise and nickel up 1%. Copper and zinc also edged up slightly while SHFE lead was down 0.56%.The ferrous complex saw coking coal finish higher by 0.73% while rebar and hot-rolled coil also registered rises. Coke dropped 0.49% and iron ore slipped 0.36%.Copper: SHFE cop...Read More

SHANGHAI, Jan 11 (SMM) – Nonferrous metals traded up for the most part today with SHFE aluminium leading the gains with 1.2% rise and nickel up 1%. Copper and zinc also edged up slightly while SHFE lead was down 0.56%.The ferrous complex saw coking coal finish higher by 0.73% while rebar and hot-rolled coil also registered rises. Coke dropped 0.49% and iron ore slipped 0.36%.Copper: SHFE cop...Read More

SHANGHAI, Jan 11 (SMM) – Nonferrous metals traded up for the most part today with SHFE aluminium leading the gains with 1.2% rise and nickel up 1%. Copper and zinc also edged up slightly while SHFE lead was down 0.56%.The ferrous complex saw coking coal finish higher by 0.73% while rebar and hot-rolled coil also registered rises. Coke dropped 0.49% and iron ore slipped 0.36%.Copper: SHFE cop...Read More

SHANGHAI, Jan 11 (SMM)? 1/4 ? The decline in nickel ore shipments to China from the Philippines was mainly due to bad weather in Tawi-Tawi while the impact of environmental protection issues in Zambales was rather small.News reports suggested that four nickel ore miners in Zambales were involved in local environmental disputes and shipments from the region have been affected. The four companies we...Read More