RAPAPORT... RapNet launched a new site on Tuesday, promising asafer, simpler and smarter way of trading diamonds online. The aspects of RapNet that users enjoy will stay, but theredesigned platform will be easier to navigate, getting those users to theirdesired diamonds with fewer clicks. There are also handy tools such as a pricecalculator, the ability to compare up to 10 diamonds at once,...Read More
(IDEX Online) - The G? 1/4 belin Gem Lab and blockchain company Everledger have signed a partnership "to create new transparency levels in the gemstone industry". The G? 1/4 belin Gem Lab, is a well-known gem lab, while Everledger is a global emerging technology enterprise. They said in a joint statement that are teaming up to drive more transparency in the gemstone industry by creating the...Read More
RAPAPORT... Kohl's and Target both reported sales growth during the holiday season, continuing the positive trend seen in the US retail sector this year. Kohl's reported a 6.9% year on year rise in total sales, with growth across most categories."We are very pleased with our holiday-period sales, which wereconsistently strong through November and December." said Kevin Mansell, chairman...Read More
(IDEX Online) - Signet Jewelers Limited the world's largest retailer of diamond jewelry, said that same store sales (SSS) decreased by 5.3 percent, while total sales decreased by 3.1 percent in the 9 week holiday season ended December 30. The jeweler said that the implementation of strategic priorities drove double-digit eCommerce growth overall, while SSS increased by 4.0 percent at t...Read More
RAPAPORT... Chow Tai Fook reported a sharp rise in gem-set-jewelry sales in Hong Kong, while expansion in mainland China helped drive growth in its fiscal third quarter, as the local retailsector continued to improve.Overal retail sales grew 12% in the mainland and were flat in Hong Kong, the company reported Tuesday. However, same-store sales at branches open for at least one year increase 5...Read More
(IDEX Online) - The second edition of CARAT+, will take place at the Antwerp Expo from May 6 to 8. The fair will have new features and will welcome leading industry professionals from across the globe, the organizers said in a statement. The CARAT+ was launched last year and featured 130 exhibitors from 13 countries. The debut event attracted 3,000 visitors from 33 global markets. Th...Read More
Nickel continued to rally on the London Metal Exchange during afternoon trading on Wednesday January 10, closing in positive territory alongside the rest of the metals.The three-month nickel price closed up 1.8% on Tuesday's close, having hit an intraday high of $13,200 per tonne earlier, thanks to a tighter market and robust demand from the stainless steel sector."We have a constructive view over...Read More
The London Metal Exchange closed 2017 in positive fashion as average daily volume (ADV) climbed 19.3% after two previous months of decline. Lead was the strongest performer, with ADV climbing over 50% from December 2016 with 55,717 lots. Last month, lead was the only base metal to record a significant year-on-year increase. Copper's ADV was up 24.3% from the previous year to 150,723 lots, after it...Read More
(IDEX Online) - Sarine has introduced what it calls an added-value upgrade for existing or new DiaExpert platforms - the DiaExpert Edge - for increased rough diamond planning accuracy, efficiency and yield. "The very first step necessary for a rough diamond's automated evaluation and planning is its accurate three-dimensional modeling. As a rough diamond is not a smooth uniform object,...Read More
(IDEX Online) - Environmental, as well as social and economic responsibility in the jewelry sector will be the focus of a seminar scheduled for Monday, January 22, 2018, during the VICENZAORO January 2018 jewelry trade show in Vicenza, Italy. Titled "Green and Blue Jewellery, Environmentally Sustainable Luxury," it is being organised by CIBJO, the World Jewellery Confederation, and the Italian Exh...Read More
After a year focused on re-establishing stability, the London Metal Exchange has started 2018 with its attention on driving more liquidity to the bourse by launching the Introducing Broker membership category and broadening its contract portfolio, says senior metals market consultant Martin Hayes. Twelve months ago, it was fair to say that the LME was facing a period of uncertainty - it had lost i...Read More
SHANGHAI, Jan 10 (SMM) – Nonferrous metals were mixed today with SHFE nickel up over 1% and tin up 0.67%. While aluminium edged up slightly, SHFE lead and zinc were down 0.51% and 0.69% respectively. Ferrous metals weakened this afternoon even though rebar and hot-rolled coil were still up at closure. Coke and coking coal saw drops of 3% and 2% respectively, while iron ore edged down s...Read More
SHANGHAI, Jan 10 (SMM) – Nonferrous metals were mixed today with SHFE nickel up over 1% and tin up 0.67%. While aluminium edged up slightly, SHFE lead and zinc were down 0.51% and 0.69% respectively. Ferrous metals weakened this afternoon even though rebar and hot-rolled coil were still up at closure. Coke and coking coal saw drops of 3% and 2% respectively, while iron ore edged down s...Read More
SHANGHAI, Jan 10 (SMM) – Nonferrous metals were mixed today with SHFE nickel up over 1% and tin up 0.67%. While aluminium edged up slightly, SHFE lead and zinc were down 0.51% and 0.69% respectively. Ferrous metals weakened this afternoon even though rebar and hot-rolled coil were still up at closure. Coke and coking coal saw drops of 3% and 2% respectively, while iron ore edged down s...Read More
China’s producer price index (PPI) in December rose 4.9% from the same month a year ago, higher than the expectation at 4.8%. The growth in December, however, was lower than the 5.8% seen in November.The country’s consumer price index (CPI), on the other hand, rose 1.8% in December, below the expectation at 1.9%. But this is higher than the growth in November at 1.7%. T...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Signet Jewellers dropped $4.62 to $51.97 after lowering its fourth quarter sales guidance.Lennar fell $1.12 to $65.55 after reporting less than consensus fourth quarter earnings. Nutrien gained $0.12 to US$52.80 after Stifel Nicolaus initiated coverage with a Buy rating.Deere improved $...Read More
China’s producer price index (PPI) in December rose 4.9% from the same month a year ago, higher than the expectation at 4.8%. The growth in December, however, was lower than the 5.8% seen in November.The country’s consumer price index (CPI), on the other hand, rose 1.8% in December, below the expectation at 1.9%. But this is higher than the growth in November at 1.7%. T...Read More
SHANGHAI, Jan 10 (SMM)? 1/4 ? SMM believes the LME zinc price may stay on its current upward-moving track with historical low inventory and demand from the reconstruction activities in the US. However, we also see irrational factors supporting the price rise and potential risks ahead.With stronger LME zinc price but a weaker SHFE contract, there is limited room for marginal supply to go lower wher...Read More
SHANGHAI, Jan 10 (SMM)? 1/4 ?Copper: There is still room for downward movement for copper prices and we see LME copper likely to trade towards the $7,000/mt level. We expect the LME contract to trade at $7,070-7,130/mt today and the SHFE contract at 54,400-54,900 yuan/mt. Spot premiums are to rise to 30-80 yuan/mt today.Zinc: LME zinc began to slip after touching $3,400/mt and we expect it to trad...Read More
SHANGHAI, Jan 10 (SMM)? 1/4 ?Copper: There is still room for downward movement for copper prices and we see LME copper likely to trade towards the $7,000/mt level. We expect the LME contract to trade at $7,070-7,130/mt today and the SHFE contract at 54,400-54,900 yuan/mt. Spot premiums are to rise to 30-80 yuan/mt today.Zinc: LME zinc began to slip after touching $3,400/mt and we expect it to trad...Read More