RAPAPORT... A rare oval diamond sold for nearly $14 million at Sotheby'sin Hong Kong Tuesday, beating its high estimate of $12.7 million. The oval brilliant-cut, 88.22-carat, D-color, flawless, typeIIa stone is one of only three oval diamonds over 50 carats offered in auctionhistory, Sotheby's said. The hammer went down on it at $13.8 million, or $156,150 per carat, at theMagnificent Jewels a...Read More

The latest bids, offers and deals in the global markets for steel billet, slab and bloom....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: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More

RAPAPORT... Macy's has named Dennis Mullahy chief supply officer, a role in which he will oversee everything involved in getting products to the shelves.He will supervise all aspects of supply, including globalsourcing, inventory management, store and e-commerce distribution,transportation, indirect procurement, supply-chain systems, sustainability, andsupplier diversity. "We are investing in our...Read More

RAPAPORT... The Central African Republic (CAR) is trying to entice large diamond-mining companies to set up operations in thecountry, as part of its effort to reform the sector and meetKimberley Process (KP) regulations. The government has already contacted both De Beers andAlrosa, President Faustin-Archange Touadera said in a speech to the Antwerp trade Monday. Allowing established companies...Read More

 RAPAPORT... More than 100 Signet Jewelers employees will lose their jobsamid the closing of the company's Texas-based manufacturing facility. The closure is part of a long-term effort by the Zales,Jared and Kay owner to cut costs and improve efficiency. "We have evaluated consolidation in key areas of ourbusiness, seeking to understand production capacity, cost and efficiency acrossour...Read More

The U.S. Federal Trade Commission, which investigates allegations of deceptive advertising, said on Tuesday that it has sent warning letters to eight companies to insist that they distinguish in advertisements between diamonds that come from mines and those made in laboratories.The FTC said that it had found instances where the eight companies advertised diamond jewelry "without clearly and conspi...Read More

RAPAPORT... Tiffany & Co. has launched a marketing campaign for its first new bridal line in nearly a decade.The jeweler unveiled the new Tiffany True ring design in September, and is now pushing the product with a video commercial. It features three couples wearing the engagement rings during private moments, set to Lady Gaga's song "Is That Alright?" from her Oscar-winning movie&nb...Read More

A burgeoning interest in Canada's emerging cannabis sector, which spiked after recreational use of marijuana was legalized in October, is sucking investment capital away from the mining sector, and hitting juniors hardest, a new study shows.According to BDO's Sherif Andrawes, investments in Canadian cannabis companies increased from C$43 million to C$770 million from the first half of 2016 to the...Read More

RAPAPORT PRESS RELEASE, April 2, 2019, Las Vegas ... Diamond market sentiment was soft in March, after the Hong Kong and Basel shows failed to boost trading in a significant way. The first quarter was weaker than last year's, with cautious retail inventory replacement after the holiday season. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds slid 0.2% in March, while RAPI for 0.30-carat fe...Read More

The American department store JCPenney is struggling to overcome its financial and organizational troubles and is closing 27 of its 860 stores in 2019. In an interview published by TODAY Style, the department store's spokesperson, Carter C. English said: "As part of a standard annual review, the decision was made to close 18 stores across the country, including the three previously announced...Read More

Aim-listed BlueRock Diamonds on Tuesday reported a 12% year-on-year increase in mined tonnage at its Kareevlei mine, in Kimberley, to 42 409 t for the first quarter of this year.This was achieved despite a temporary eight-day suspension in mining operations in February.AdvertisementThe diamond producer sold 1 847 ct of diamonds in the first quarter – an 18% year-on-year increase.A...Read More

Reuters reported that the US Commerce Department said that in February, retail sales had dropped 0.2 percent, instead of the 0.3 rise forecasted. The department said that households cutting back on purchases of furniture, clothing, food and electronics and appliances, as well as building materials and gardening equipment were the chief reason for the decline. On the other hand, the Commerce Depart...Read More

PERTH (miningweekly.com) – Africa-focused Lucapa Diamond Company has recovered its fifth diamond larger than 50 ct from the Mothae operation, in Lesotho, since commercial production started in January.The recovery of the top-colour 55 ct stone was recovered only shortly after the recovery of a 128 ct diamond from Lucapa’s Lulo alluvial operation, in Angola, earlier this year.Advertisem...Read More

Alrosa, the Russian diamond miner, held its first rough diamond auction in New York this year, selling stones of 10.8 carat and up. The total revenue from the auction amounted to $11.8 million. The company sold 107 stones at a total weight of 1,900 carats. Over 30 firms from the chief diamond trading hubs, such as the USA, Israel, Belgium, India and the UAEm, participated in the auction. "We held...Read More

LONDON – Russian State-controlled miner Alrosa, the world's biggest producer of rough diamonds in carat terms, raised $11.8-million in its first New York diamond auction of the year, as it seeks to increase its activity in the US.Rebecca Foerster, president of Alrosa, North America, said sanctions against some Russian companies did not diminish the appeal of Russian high quality diamonds...Read More

Following long months without a captain at the helm, the giant fashion jewelry company Pandora hopes to see the newly appointed President and CEO, Alexander Lacik steer the ship into more profitable lanes. But this week, the company announced that its Chief Operating Officer, Jeremy Schwartz, had announced his immediate resignation. The year 2018 was an awful year for Pandora.   The sto...Read More

On April 1, American Gemological Laboratories celebrated its tenth anniversary under Christopher Smith's management. When he stepped into the shoes of Cap Beasly in 2009, he had a team of six gemologists and a lab in dire need of new clients. "We are now a team of thirteen,' Smith said. "It is a matter of great pride to see the company growing, embracing a good value system and achieving more...Read More

Eurostar Diamond Traders, one of the largest diamond companies in Antwerp - and in the world - is bankrupt, the Dutch-language daily De Tijd reported. According to reports, the company has outstanding debts of more than $500 million. Founded in 1978, its principal, Kaushik Mehta, built Eurostar into a giant, global corporation. The company expanded worldwide, setting up offices in Botswana, China...Read More

Physical iron ore prices continued to rise on Tuesday April 2, closing in on $90 per tonne with yet more seaborne supply disruptions reported.MB 62% Fe Iron Ore Index: $89.89 per tonne cfr Qingdao, up $1.20 per tonne. MB 62% Fe Pilbara Blend Fines Index: $89.01 per tonne cfr Qingdao, up $1.20 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $92.14 per tonne cfr Qingdao, up $1.91 per tonne. MB 58%...Read More