Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Major Chinese copper smelters agree on production cuts amid raw supply shortage, low processing fees

22 march 2024

Biggest copper smelters in China have run into complications due to a shortage of raw material from miners and a decrease in copper processing fees which prompted talks of supply cuts.

According to Reuters, Chinese top producers Jiangxi Copper, Tongling Nonferrous Metals Group, Jinchuan Group and China Copper among others came to an agreement to jointly embark on production cuts at some loss-making plants.

The move comes in the wake of rapid expansion of copper processing capacity in China over the past year to take advantage of an expected surge in demand from green energy sectors. But several mine disruptions globally have led to a decrease in copper concentrate supply.

Meanwhile, the price of copper concentrate on the spot market has dropped to its lowest in more than a decade, leading to a decrease in processing fees paid to smelters. Spot copper treatment charges in China tumbled to $11.20 per metric ton, down 76% in just two months. It is the lowest level since 2013 when agencies began publishing this data.

China’s refined copper production, which accounts for about half of the world’s total, amounted to 2.215 million tons in the first two months of 2024, or about 37,000 tons a day, up 11% from a year ago.

Imports of copper concentrate to China amounted to 4.66 million tons for the first two months of the year, up 0.6% compared to the same period a year earlier, customs data showed.

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished