Three-month base metals prices on the London Metal Exchange were for the most part weaker again this morning, Thursday March 7.With the exception of tin that was up by 0.5% and aluminium that was little changed, the rest of the complex were down between 0.2% for lead and 1.4% for nickel.Copper was off by 0.4% at $6,428 per tonne, compared with $6,455 per tonne at Wednesday's close, while nickel ha...Read More

Trade log for nickel sulfate in China including transactions, bids and offers reported to Fastmarkets MB.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. Fastmarkets MB prices Click here for Fastmarkets MB's price assessment...Read More

Diamond trade cautious after slow Hong Kongshow. Demand selective and inventory levels high, with buyers insisting on deepdiscounts for goods under 0.50 ct. Low manufacturing profits reducing Indianpolished production as smaller goods not making money. 0.30ct. RAPI -0.6%, 1ct. RAPI +0.1% in Feb. with better market for 0.70 to 1.99 ct. De Beers prices flat at $490 million sight. Far East consumerou...Read More

Manufacturers maintaining reduced production in quietmarket. Margins under pressure due to high rough prices at De Beers sight and subduedpolished demand. Steady orders for 0.50 to 1.99 ct., G-H, VS2-SI1 (3X, nofluorescence). Stones with good or fair cut very hard to sell. Melee stable,with selective demand for stars, but manufacturers want to sell bigger meleesizes, as they offer better profits....Read More

RAPAPORT... Sales at Alrosa fell 36% year on year to $345.6 millionin February as a slowdown in the rough market continued. Rough-diamond sales dropped 36% to $340.6 millionfor the month, according to Rapaport calculations based on Alrosa reports.Polished revenues slid 45% to $5 million. Overall demand has improved versusJanuary, however, with total sales up 23% month on month, the Russian miner s...Read More

RAPAPORT... Retail sales of jewelry and other luxury items increased inHong Kong in January, boosted by the earlier timing of the Lunar New Year and highertourism. Revenue from jewelry, watch, clocks and other valuable giftsimproved by 4.7% year on year to HKD 8.47 billion ($1.08 billion), themunicipality's Census and Statistics Department reported Tuesday. Sales in allretail categories were...Read More

Reinforcing bar (rebar) steel prices have risen in the United States following late-February's mill hikes, while import prices have fallen following confirmed offers for Italian material. Fastmarkets' assessment for domestic rebar increased to $35.25-36.50 per hundredweight ($705-730 per short ton) fob mill on Wednesday March 6, up by 2.6% from $34.25-35.75 per cwt previously. At the same time, th...Read More

RAPAPORT... Four of Asia's industry groups have agreed to work together on standardizing language and rules for the diamond trade. The National Gemstone Testing Center (NGTC), the Gem andJewelry Institute of Thailand (GIT), the Gemmological Institute of India (GII),and the China Gems & Jade Exchange (CGE) signed a memorandum of understanding(MoU) to further that effort, the NGTC said. Th...Read More

Alrosa, (MCX:ALRS) the world's top diamond producer by output, reported Thursday that total sales of rough and polished diamonds increased to $345.6 million, up 23% compared to January 2019 (up $64.1 million).Rough diamonds sales in February increased to $340.6 million, compared to $278.2 million in January 2019, while polished diamond sales grew to $5 million, compared to $3.4 million a...Read More

Diamcor, a Canadian junior diamond miner, said it had sold 1,220 carats of rough diamonds from the Krone-Endora at Venetia project in South Africa at its second tender held in the first quarter of the year. The sale netted the junior miner $376,000, with an average price of $308 per carat sold. This represented a significant improvement over the average price - $176 per carat - on all rough diamon...Read More

Diamond rich Botswana expects mineral revenues in the 2019/20 fiscal year to drop by 4 percent to 13.6 billion pula ($1.26 billion) due to a decline in royalties and dividends, a minerals ministry budget document showed on Thursday.Mineral Resources Minister Eric Molale said in the document that global diamond demand was showing signs of slowing down. Retail jewellery sales fell during the last qu...Read More

RAPAPORT... Russian diamond manufacturer Kristall Smolensk is selling areplica of the Great Imperial Crown of the Russian Empire on RapNet's newjewelry platform for $15.5 million. The crown, which weighs 2.3 kilograms, comprises more than11,000 round, oval and pear-shaped white diamonds, weighing 1,928 carats andset in white gold. The stones were sourced from Russian miner Alrosa, certifiedby...Read More

GIA (Gemological Institute of America) opened its new laboratory in Kowloon in the presence of Susan Jacques, GIA president and CEO, and Tom Moses, GIA executive vice president and chief laboratory and research officer. The opening reception of GIA's new and expanded location was held in mid-February with laboratory clients and industry executives in attendance. "Hong Kong is a vital center of th...Read More

ALROSA of Russia, a global, leading diamond producer, reported it has sold $345.6 million worth of rough and polished diamonds in February. The sales amount represents an increase of 23 percent compared to January 2019. ALROSA's rough diamond sales increased to $340.6 million, compared to $278.2 million in January 2019, while polished diamond sales grew to $5 million, compared to $3.4 million a m...Read More

Jewelers of America (JA) has announced the agenda and opened registration for the first annual Jewelers of America National Convention, an education-focused executive forum open to jewelry professionals. The Convention will take place July 28-29, 2019, at the Intercontinental New York Barclay in New York City The two-day convention will feature data-driven keynote presentations and a wide range of...Read More

Canadian diamond miner Star Diamond shared the results of a recent survey of its Star and the Orion South kimberlites, confirming the relative abundance of type IIa diamonds at these projects in central Saskatchewan. Across the board, type IIa diamonds make up less than three percent of a diamond mine's production. Therefore, the results of this study conducted which estimate that 26.5 percent of...Read More

Zimbabwe will scrap a law that denies foreign platinum mining companies control of their operations in the country, the mines minister said on Thursday.It's part of continued review of (the) Zimbabwe is open for business mantra."Foreign platinum and diamond miners have been restricted to only 49 percent ownership of their Zimbabwe operations by the black economic empowerment law introduced during...Read More

Turkish billet prices have remained firm over the past week with moderate demand in the export markets. But the domestic and import markets were comparatively weaker, sources said on Thursday March 7.Fastmarkets' weekly price assessment for billet exports was unchanged week on week at $450-460 per tonne fob on Thursday.The Turkish mills were heard to sell a number of billet cargoes for export this...Read More

JOHANNESBURG – Zimbabwean Finance Minister Mthuli Ncube said a rule requiring local investors to control platinum mines will be scrapped and foreigners will be allowed to own 100% in a bid to revive investment.“We are removing that indigenization rule, which is discouraging foreign direct investment,” Ncube said in an interview with Bloomberg Television in Washington. “We s...Read More

Neiman Marcus Group Ltd. reported that it is in discussions with bondholders to extend its repayment deadline to 2023. In case an agreement is finalized, Neiman Marcus would be able to avert a possible default of $5 billion of debt that would be due for payment during the coming two years. As part of the agreement, the company offered bondholders a share in MyTheresa, Neiman Marcus' international...Read More