Base metals prices on the London Metal Exchange were mixed during morning trading on Tuesday January 8, with prices remaining stable and market sentiment broadly positive amid US-China trade talks and a continued softening in the US dollar index. Continuing their uptrend, both copper and nickel futures consolidated higher over the morning, with the former making a continued approach towards $6,000...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday January 8*Copper -$61.39 (-422.08 yuan) Aluminium -$374.94 (-2577.67 yuan) Zinc $18.23 (125.36 yuan) Nickel -$139.52 (-959.18 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME...Read More
China's hot-rolled coil exporters kept offer prices high on Tuesday January 8 following stable prices in the domestic market, although overseas buyers are bidding much lower with access to cheaper goods from other countries.DomesticEastern China (Shanghai): 3,660-3,680 yuan ($534-537) per tonne, widening downward 10 yuan per tonneNorthern China (Tianjin): 3,620-3,650 yuan per tonne, up 2...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Tuesday January 8. Tin was unchanged, while the rest were down between 0.1% for copper and lead and 0.7% for aluminium, with zinc and nickel off by 0.6% and 0.5% respectively. The three-month copper price was recently quoted at $5,909 per tonne.Volume across the complex has been average with 5,0...Read More
China's domestic rebar prices were stable on Tuesday January 8 amid a divided outlook on prices in the coming weeks and higher billet prices being negated by lower futures.Domestic Eastern China (Shanghai): 3,730-3,780 yuan ($544-551) per tonne, unchangedNorthern China (Beijing): 3,650-3,680 yuan per tonne, unchangedSpot market traders kept their prices flat as higher billet prices were...Read More
Three-month base metals prices on the London Metal Exchange were stronger across the board by an average of 0.6% this morning, Wednesday January 9.Tin led the way with a 1% gain and is back over $20,000 per tonne and has an impressive double bottom in place on the chart, with lows in August and November. Lead, zinc and aluminium were all up by around 0.8%, copper was up by 0.4% at $5,959 per tonne...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. The Canadian Dollar gained 0.19 to 75.53 cents U.S. prior to the Bank of Canada's statement on monetary policy at 10:00 AM EST. No change in the overnight lending rate to major banks is anticipated.Restaurants International (QSR $54.54 U.S.) is expected to open higher after Sun Trust ini...Read More
RAPAPORT... Tiffany & Co. has begun disclosing the geographical originof its diamonds to consumers, pledging to go beyond the standardresponsible-sourcing methods prevalent in the industry. The company will provide information on stones' regions orcountries of origin in its engagement-ring display cases, starting Wednesday.For other diamonds, customers will be able to obtain provenance details...Read More
RAPAPORT... India's ICICI Bank will shut its branch in Antwerp onMarch 29, becoming the latest lender to quit the Belgian diamond market. The move followed a strategic review of ICICI's businessoperations in the country, a spokesperson for the company confirmed Wednesday.The bank has asked customers to close their accounts by February 28, accordingto a December 28 note to its clients, seen by Rapa...Read More
RAPAPORT... Whoever considered the holiday season over might need tothink again: Many jewelers are seeing just as much business during January asthey witnessed during the Christmas period, if discussions on a popularsocial-media forum are anything to go by. Customers are still visiting stores, and not only toredeem gift certificates and get their purchases repaired and resized,according to se...Read More
RAPAPORT... Diamond Foundry is increasing its production more than tenfoldand raising wholesale prices 15%, as it predicts an uptick in demand forlab-grown diamonds. The company believes there is a shortage ofsynthetic-diamond supply while consumer interest in the product is rising. Itplans to raise production to at least 1 million carats of rough per year,boosted by a new factory in Washington st...Read More
RAPAPORT... The Gemological Institute of America (GIA) has awarded its highest honor to veteran researcher Dr. James Shigley, a pioneer of synthetic-diamond detection. Shigley received the Richard T. Liddicoat Award for Distinguished Achievement, which is named after the GIA's second president. The accolade recognizes those who show "extraordinary commitment" to further the organization's mi...Read More
(IDEX Online) - The Israel Diamond Exchange (IDE) will hold its first tender of Israeli goods during the International Diamond Week in Israel (IDWI). The tender will take place from January 27-31, and will be held at IDE's International Tender Center. It will consist of a wide and varied array of polished goods offered by IDE members, with a total value of over $10 million. KOIN Internatio...Read More
(IDEX Online) - The Israel Precious Stones and Diamonds Exchange (ISPDE) reported a strong turnout at a specially organized event on Tuesday where members exhibited goods. ISPDE President Shlomo Eshed said he was delighted with the event which the exchange now plans to hold twice a year. "It was an exceptional event," said Eshed. "The members were delighted with the turnout. ...Read More
(IDEX Online) - Lucara Diamond Corp. reported that it carried out its first diamond sale through Clara Diamond Solutions, its 100% owned digital sales platform. Seven manufacturers participated in the sale, five of whom matched and received their orders. All told, diamonds successfully matched to orders generated revenue of $660,865, achieving +8% over Lucara's market price and +15% o...Read More
Tiffany & Co. is telling consumers where its diamonds come from as the jeweler tries to become more transparent in a notoriously opaque industry. Its top executive says the change was imperative.“This is a topic that has become more and more relevant for new generations,” Chief Executive Officer Alessandro Bogliolo said in an interview with Bloomberg TV. “This is our duty, as...Read More
RAPAPORT... Diamond Foundry is increasing its production more than tenfoldand raising wholesale prices 15%, as it predicts an uptick in demand forlab-grown diamonds. The company believes there is a shortage ofsynthetic-diamond supply while consumer interest in the product is rising. Itplans to raise production to at least 1 million carats of rough per year,boosted by a new factory in Washington st...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose for a third straight day amid cautious optimism over the prospects for a trade deal between the U.S. and China.Donald Trump said in a tweet that discussions between the world's two largest economies were "going very well."Union Pacific Corp. (UNP) jumped 8.4% after the railway operator said indu...Read More
The Tuesday Market Minute Global stocks trade higher as investors eye progress in U.S. China trade talks, but weaker-than-expected Samsung profit forecast rattles tech markets. Samsung cites softer China demand as it tees-up an 11% fall in fourth quarter sales and smaller-than-expected profits in a "stagnant and fiercely competitive smartphone market" smartphone market.European st...Read More
2019 is looking like one of those either/or years, where growing financial instability leads to either a 2008-style Continue...Read More