BidFair USA, an entitywholly owned by Drahi, will pay $57 per share of common stock to all Sotheby'sshareholders, the auction house said Monday. The deal, which has already received board approval, is a 61%premium over the auction house's closing price on June 14.  Drahi, an avid art collector and Sotheby's patron, has along-term vision for enhancing the company's value, CEO Tad Smith explain...Read More

Shamiso Mtisi, the Zimbabwean lawyer who heads the Kimberley Process (KP) Civil Society Coalition (CSC), was one of the three speakers who addressed the Opening Session of the Kimberley Process Intersessional Meeting (KPI) on June 17, in Mumbai, India. In his address Mtisi noted that this year is the KP's last chance, in the current reform cycle, to cut the diamond sector's ties to what...Read More

The June Hong Kong Jewellery & Gem Fair announced it will feature a dedicated Gemological Laboratories Zone that" industry stakeholders cannot afford to miss," the show organizers said. Scheduled for June 20 to 23 at the Hong Kong Convention & Exhibition Centre (HKCEC), the June Fair will bring together the major names in the world of gemology, including the Asian Gemmological Institute a...Read More

RAPAPORT... Jewelry appraisers will become more important than ever, with a new wave of recycled estate pieces expected to become available. "We want to get a better understanding about what the appraiser community should do as millions of Americans will be selling their jewelry," Martin Rapaport, chairman of the Rapaport Group, said in a recent town hall meeting at the JCK Las Vegas sho...Read More

Aim-listed BlueRock Diamonds, the owner and operator of the Kareevlei diamond mine, in Kimberley, has sold a 24.98 ct diamond recovered earlier this month for $190 000.Executive chairperson Mike Houston on Friday commented that the company was delighted with the sale of its largest diamond to date, adding that its recovery and sale demonstrated the potential of Kareevlei.Advertisement“We con...Read More

Bain & Company, a leading advisor to the global luxury goods industry, published the "Bain Luxury Goods Worldwide Market Study, Spring 2019," and said that the global personal luxury goods market reached a "new normal" pattern of growth, following back-to-back years of strong performance in 2017 and 2018. In 2018, 6 percent global growth (at a constant exchange rate) led to ???EUR? ?260 billi...Read More

U.S. retail sales improved in May 2019, putting at rest expectations that the US  economy would be shrinking following poor reports from the job market in recent months. monthly jobs report. Various American news sources quoted a Commerce Department report that said that retail sales had risen 0.5 percent last month in May, while what had initially been reported as a 0.2 percent decrease in A...Read More

RAPAPORT... The US jewelryindustry sees social media as instrumental in overcoming digital challenges, a recent report by JCK found. Ofthe 500 respondents surveyed in the JCK's 2019 State of the Jewelry Industry Report, 46% identified connecting with clients viasocial media as their top digital strategy. Some 39% chose non-traditionaladvertising as the most effective approach and 37% consider...Read More

China is unlikely to become a major supplier in the ferrous scrap export market over the short to mid-term, due largely to robust demand in that country's domestic market, according to a top executive at Turkey-based ??olakoglu Metalurji. "I believe China is going to consume all the [ferrous] scrap internally. It's not going to export," chief executive Ugur Dalbeler said on Tuesday June 18, speaki...Read More

BidFair USA, a company owned by the French-Israeli collector and entrepreneur Patrick Drahi, has taken ownership of Sotheby's, the 275-year-old auction house. Drahi, who paid $3.7 billion for the auction house, is planning to take the publicly traded company private, which means that Sotheby's will no longer be traded on the New York Stock Exchange (NYSE). The acquisition may have a sign...Read More

Seaborne iron ore prices soared across the $110-per-tonne-cfr mark again on Tuesday June 18 after a dip on Monday, amid bullish trading in derivatives and physical markets.MB 62% Fe Iron Ore Index: $112.28 per tonne cfr Qingdao, up $4.07 per tonne. MB 62% Fe Pilbara Blend Fines Index: $111.08 per tonne cfr Qingdao,up $4.07 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $114.46 per tonne cfr Qing...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreBHP, Global Ore, 80,000 tonnes of 62% Fe Newman fines, traded at $111 per tonne...Read More

The seaborne coking coal spot market picked up some strength on Tuesday June 18 despite falling prices for metallurgical coke in China.A cargo of premium mid-vol hard coking coal, with laycan set for late June, was sold to a northeastern Chinese end user at $201 per tonne cfr China, various sources confirmed during the day.The price is a bit higher than current market rates, but is down $0.70 per...Read More

RAPAPORT PRESS RELEASE, June 5, 2019, Las Vegas ... Members of RapNet, the world's largest diamond tradingnetwork with daily listings valued at $7.5 billion, voted overwhelmingly againstintroducing services for synthetic diamonds. The following are the votingresults for the issues polled. Should RapNet provide listings for synthetic diamonds?No: 5,934 (79%),Yes: 1,607 (21%).Should Rapaport publish...Read More

No...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.Subscri...Read More

Altech ticks boxes on path to production SPONSOREDaltech chemicalsHowever, analysts at the bank's global research team said neither LME quotations nor physical premia have reflected that."In our view, the trade dispute is the key culprit, compounding the negative impact the ongoing rebalancing of China's economy has had on growth," the bank said in its Global Metals Weekly report.Altech ticks boxe...Read More

Altech ticks boxes on path to production SPONSOREDaltech chemicalsPerth-based corporate advisor Liam Twigger, SolGold's Brisbane-based head of exploration Jason Ward, and head of communications Anna Legge are now directors.Twigger joins the SolGold board as a non-executive director and chair of the audit committee, Ward is executive director, project management, and Legge is executive di...Read More

China's rebar market maintained its downward trend on Tuesday June 18 amid weakening demand. Domestic Eastern China (Shanghai): 3,790-3,840 yuan ($547-554) per tonne, down 10-30 yuan per tonneNorthern China (Beijing): 3,650-3,700 yuan per tonne, down 30 yuan per tonneRain in both Shanghai and Beijing capped trading activity during the day. Market participants expect demand to weaken in the next fe...Read More

MJP aluminium stocks down 1.3% month...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 s...Read More

Aluminium The LME three-month aluminium price remains on...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 downl...Read More