(IDEX Online) - The third quarter of 2018 was unsatisfactory and group revenue decreased 3% in local currency due to timing of shipments, change of inventory levels in the wholesale channel and negative total like-for-like, the jewelry-maker reported. Due to the unsatisfactory Q3 2018 performance, a lower than expected tailwind from forward integration as well as a weak start to the fourth...Read More
(IDEX Online) - Lucapa Diamond Company and its partners have announced the discovery of a new alluvial source of large and premium-value diamonds at the Lulo diamond project in Angola. "To date, the diamonds mined from Lulo - the world's highest average US$ per carat alluvial production - have been sourced predominantly from the terrace deposits along the Cacuilo River valley," Lucapa said....Read More
(IDEX Online) - The Antwerp World Diamond Centre and the Alibaba Group have signed an exclusive partnership to offer Antwerp certified diamonds to Chinese consumers via Alibaba's B2C marketplace, Tmall. The cooperation agreement was signed in the framework of the first China International Import Expo (CIEE), which is being held this week in Shanghai, the AWDC said. The Antwerp diamo...Read More
RAPAPORT... Pandora has lowered its revenue expectations for the thirdtime this year following a disappointing quarter, and will implement a new programto cut costs. The Danish retailer had an "unsatisfactory" third quarter,with global sales down 4% year on year to DKK 4.98 billion ($761.5 million). Theretailer has therefore reduced its full-year revenue-growth outlook to between2% and 4%, fr...Read More
RAPAPORT... Lev Leviev faces questioning over diamond-smugglingallegations that have led to six of his relatives and employees being arrested,according to reports.Israeli police detained Zevulun and Moshe Leviev, thetycoon's son and brother, who ran a factory that Lev Leviev owned, according toThe Times of Israel. The other four suspects held senior positions in thetycoon's companies, the report s...Read More
RAPAPORT... Pandora has lowered its revenue expectations for the thirdtime this year following a disappointing quarter, and will implement a new programto cut costs. The Danish retailer had an "unsatisfactory" third quarter,with global sales down 4% year on year to DKK 4.98 billion ($761.5 million). Theretailer has therefore reduced its full-year revenue-growth outlook to between2% and 4%, fr...Read More
RAPAPORT... Chinese e-commerce giant Alibaba will collaborate with theAntwerp World Diamond Centre (AWDC) to bring Belgian diamonds to Chineseconsumers. Through the partnership, Shape of Antwerp diamonds will besold exclusively on the Chinese retailer's Tmall online marketplace. "Chinese consumers love Antwerp diamonds, and China is thesecond-largest market in the world for polished diamonds...Read More
RAPAPORT... Global demand for gold jewelry rose 6% year on year to 535.7tonnes in the third quarter, as reduced prices drove consumer purchasing, theWorld Gold Council (WGC) said. Orders for gold jewelry in India climbed 10% to 148.8 tonnesin the three months ending September 30, as the price of gold dipped to itslowest level since January. In addition, the sharp growth was also due to relati...Read More
Base metals prices on the London Metal Exchange were predominantly lower at the close of trading on Monday November 5, topped by a continued downturn in lead's three-month price while aluminium was the only metal to trade in positive territory.Despite reaching an intraday high of $2,002.50 per tonne, the three-month lead price closed nearer to its October low of $1,915 per tonne, with last week's...Read More
Comex copper reversed lower to start the new week on Monday morning in the US, with a broad-based sell-off and political uncertainty keeping market participants on the sidelines.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 4.10 cents to $2.7720 per lb. On Friday, the contract touched a high of $2.8090 per lb, the highest level since Octobe...Read More
Easing supply tightness in the alumina market continues to put significant pressure on the fob Australia alumina index and traders expect prices to fall even further before the end of the year. The benchmark fob Australia daily alumina index has fallen back below $450 per tonne for the first time since June 2018. It was most recently assessed on Friday November 5 at $442.50 per tonne. Traders...Read More
Australian lithium spodumene producer Altura Mining shipped about 10,000 tonnes of lithium spodumene from Port Hedland in Western Australia to China in October 2018, the company has said.Altura announced on October 31 that it had despatched two cargoes each of around 5,000 tonnes of lithium spodumene to China, on October 9 and October 20. The material came from the company's Pilgangoora lithium mi...Read More
Australian lithium spodumene miner Neometals reported that it had achieved slightly higher production volumes in the July-September quarter in a results statement published on Wednesday October 31.Neometals increased its output by about 1.68%, producing 111,023 tonnes of lithium spodumene in the quarter, compared with 109,183 tonnes produced in April-June.Output of higher-grade lithium spodumene (...Read More
Easing supply tightness in the alumina market continues to put significant pressure on the fob Australia alumina index and traders expect prices to fall even further before the end of the year. The benchmark fob Australia daily alumina index has fallen back below $450 per tonne for the first time since June 2018. It was most recently assessed on Friday November 5 at $442.50 per tonne. Traders...Read More
Fastmarkets launched its China cobalt sulfate price in May 2018, with historical data dated back to March, tracking the price of this key electric vehicle battery material. Read More
Turkish steel mills were quiet in the scrap import market at the beginning of the week, with prices remaining firm, sources said on Monday November 5.After booking a number of cargoes in the past week, Turkish steel producers paused their deep-sea purchasing activity on Monday.The most recent bookings put the price for HMS 1&2 (80:20) at $341 per tonne cfr for material from the United States.In th...Read More
Turkish domestic auto bundle scrap prices have gone down in line with falling domestic rebar prices, while ship scrap prices have risen thanks to strong imported scrap values, sources said on Monday November 5.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,750-1,940 ($322-357) per tonne delivered, widening downward from last week's TRY1,830-1,940 per tonne....Read More
The freefall in aluminium scrap prices could soon reach its bottom and stabilize, European secondary aluminium market participants told Fastmarkets this week.The combined impact of the trade war between the United States and China and fundamental changes in how the Chinese consume scrap has led to a flood of aluminium scrap entering the global market, pushing the price of some grades to...Read More
Comex copper reversed lower to start the new week on Monday morning in the US, with a broad-based sell-off and political uncertainty keeping market participants on the sidelines.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 4.10 cents to $2.7720 per lb. On Friday, the contract touched a high of $2.8090 per lb, the highest level since Octobe...Read More
Fastmarkets launched its China cobalt sulfate price in May 2018, with historical data dated back to March, tracking the price of this key electric vehicle battery material. Read More