There were varied expectations for the development of the CIS export slab market in the week ended Monday June 8.Some market participants expected prices to pick up following the recent rises in raw materials prices - iron ore and scrap, in particular - as well as the recent successful sales of material from both the Black Sea and Russia's Far East ports to Asia."We intend to increase prices this...Read More

Steel slab import prices in Southeast Asia and East Asia remained unchanged, despite the fall in iron ore prices, because market participants were holding back awaiting further clarity, sources said on Monday July 8.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, was $114.81 per tonne on July 5, down $3.66 per tonne from a week earlier.A slab producer in the Commonwealth of Independent...Read More

China's hot-rolled coil prices fell further on Monday July 8, though market participants expect things to improve soon with trading activity picking up domestically.DomesticEastern China (Shanghai): 3,860-3,870 yuan ($560-561) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, narrowing downward 10 yuan per tonneSpot prices fell with mills lowering their offe...Read More

RAPAPORT...Sam Ziefer, a veteran of the jewelry industrywith 50 years of experience, has joined auction house Fortuna as executive vicepresident of business development.  He will focus on building strategicpartnerships for the New York-based company and strengthening its marketposition across the US, it said Monday. Fortuna specializes in auctions ofjewelry and watches, and is planning "rapid...Read More

RAPAPORT... Rough-diamond prices are likely to fall 5% this year asweakness in the industry continues, Panmure Gordon analyst Kieron Hodgson haspredicted. The investment bank has lowered its expectations for themarket, having previously forecast price fluctuation in 2019 ranging from flatto a 2% decline. Mining companies' results from the first half were in linewith Hodgson's cautious view of the...Read More

RAPAPORT... Firestone Diamonds has recovered a 54-carat, intense-fancy-yellowrough diamond at its Liqhobong mine in Lesotho, it reported Monday. The sawable stone, the largest of its color Firestone has unearthed, will go on sale at the company's nexttender, which is due to take place in September. The miner's special-stone discoveries this year have included a white diamond weighing 70 carats, a...Read More

RAPAPORT... Global rough-diamond output grew 2% to $14.47 billion lastyear, reflecting higher production in Botswana, according to data the KimberleyProcess (KP) released last week.The average price increased 4% to $97 per carat, outweighinga 2% decline in production volume to 148.4 million carats, the figures showed. Russia remained the world's principal source of rough, despiteits recoveries fal...Read More

@import url(https://ofc.rapaport.com:449CuteSoft_Client/CuteEditor/Load.ashx?type=style&file=SyntaxHighlighter.css);@import url(styles/editnewscuteeditor.css);RAPAPORT... India's Gem & Jewellery Export Promotion Council (GJEPC)has expressed disappointment with the nation's latest Union Budget, adding that failure to reduce high duties on gold and diamonds will result in furtherjob losses....Read More

RAPAPORT... Luxury fashion house Gucci has made a move into high jewelrywith the inauguration of its first boutique and a collection by creativedirector Alessandro Michele. The store, which is dedicated exclusively to jewelry,opened on July 2 in Paris's historic Place Vend??me, and will display the new HortusDeliciarum collection. The line features more than 200 pieces, mainly one of akind. Each...Read More

Alrosa, the world's leading diamond miner in volume, staged its second auction in Hong Kong this year, earlier this month. Auctioning only "specials," i.e. rough diamonds of weights exceeding 10.8 carat, the company sold 112 diamonds, at a total weight of 1910 carat. Revenue from these sales amounted to $10.3 million. The revenue of Alrosa's two auctions this year exceeded $20 million. F...Read More

RAPAPORT... High-end online retailer Net-a-Porter isset to launch an invitation-only digital platform, selling exclusive jewelry toits most loyal members. From later this month, customers whohave been awarded EIP (Extremely Important People) status by Net-a-Porter willbe able to access EIP Priv?(C), a "private and personalized online space" within the Net-a-Porterwebsite. The digital "destination"...Read More

A brochure that presents an overview of the most important changes to the Belgian Company Code is now available at the reception of the Antwerp World Diamond Centre (AWDC). Prepared and published by the Belgian Employers Federation (FEB/VBO), these brochures are available in English, French and Dutch, both in printed and digital formats. The new Belgian Company Code became law on May 1, 2019. The...Read More

Turkish steel mills have taken a break from deep-sea scrap purchasing at the beginning of the week but are expected to soon book more cargoes for August shipment, sources told Fastmarkets on Monday July 8.After booking a Baltic Sea cargo at $298.50 per tonne cfr for HMS 1&2 (80:20) late last week, mills were quiet at the beginning of this week.However, they are expected to book more deep-sea...Read More

Firestone Diamonds, an diamond mining company with operations in Lesotho, found a 54- carat, intense fancy yellow, sawable diamond in Liqhobong Mine in Lesotho. The diamond will go on sale at the company's next tender in September 2019. Firestone's CEO, Paul Bosma, said: "The Liqhobong mine has become known for its fancy yellow stones but this one is the largest we've recovered so...Read More

Vivien Johnston of the Dragonfly Initiative was appointed Supply Chain Ambassador to the Women's Jewellery Network (WJN) in recognition of her work supporting female jewelers across the value chain to achieve sustainability in their sourcing practices. The Dragonfly Initiative (TDI) is a consultancy that works across the depth of the supply chain, applying insights from 20 years of experience...Read More

De Beers Group on Monday announced the launch of a three-year $315 000 partnership with WomEng to develop the next generation of highly skilled women engineers.De Beers will invest the funds in programmes that aim to encourage young women to study science, technology, engineering and mathematics (STEM) and to pursue engineering careers in South Africa, Namibia and Botswana.AdvertisementDe Beers Gr...Read More

Turkish domestic prices for steel scrap have remained stable over the past seven days on weak demand in the summer holiday period, sources said on Monday July 8.Only one steel mill changed its buy price for auto bundle scrap in the past week. Habas reduced its purchasing price for the material by TRY20...Read More

Seaborne iron ore prices rebounded on Monday July 8, with supply tightness a lingering concern for most market participants.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $118.38 per tonne, up $3.57 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $118.30 per tonne, up $4.24 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qing...Read More

Firestone Diamonds has recovered a 54 ct intense fancy yellow, sawable diamond from its Liqhobong mine, in Lesotho.The diamond will go on sale at the next tender, which is scheduled to take place during September.Advertisement“The Liqhobong mine has become known for its fancy yellow stones, but this one is the largest we’ve recovered so far and is therefore quite special. Although cert...Read More

Seaborne iron ore concentrate and pellet prices increased in the week to Friday July 5, propelled by the recent surge in iron ore fines values.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao was $125.12 per tonne on July 5, up by $2.09 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, averaged $131.06...Read More