“In the jewellery art, we express our feelings, emotions and share them with others”

Over 30 years, the MOISEIKIN company based in the Ural area has become a famous jewellery brand. The jewellery and souvenirs of this jewellery house made of precious and semi- precious stones and metals are displayed at museums and in private collections...


Automatic double upgrade of diamonds is not only a questionable practice but could be systemic fraud – Meeus

HRD Antwerp is under investigation by Belgian authorities following allegations that for every Gemological Institute of America (GIA) stone, which entered their lab for certification an automatic upgrade would be given two colours up and one...

13 march 2023

"At House of Ashish Vijay, diamonds and coloured gemstones will only ever mean stones that carry a storied legacy"

Ashish Vijay, a Dubai-based investor, philanthropist, entrepreneur and businessman with decades of experience in the precious gemstone and luxury jewellery industry, finance and investments sectors, set up his business in Dubai in the year 2013. As the...

06 march 2023

KP should remodel its enforcement, accountability mechanisms if it wants to remain relevant - Fula-Ngenge

The African Diamond Council (ADC) is calling on the Kimberley Process (KP) to remodel its enforcement and accountability mechanisms if it wants to remain relevant and effective. ADC chairperson M’zée Fula-Ngenge told Rough&Polished’s...

27 february 2023

Why ODC is taking longer to sell the polished Okavango blue diamond?

Okavango Diamond Company (ODC), a rough diamond marketing company that is wholly owned by the Botswana government, took an extraordinary decision to polish the 20.46-carat Okavango blue diamond recovered at Debswana’s Orapa Mine in 2018. It was...

20 february 2023

Russian nickel traded in China for yuans

02 march 2023
Russia’s largest mining company, MMC Norilsk Nickel PJSC, has been selling some of its metal in yuan to Chinese buyers at prices set in Shanghai, in a move that highlights how the conflict in Ukraine is changing the dynamics of global commodity flows and empowering China. According to a Bloomberg report, Nornickel, which accounts for approximately 7% of the world’s nickel supply, has been selling some spot volumes to China this year using a mix of London Metal Exchange (LME) and Shanghai Futures Exchange (SHFE) nickel prices, according to sources familiar with the matter. The volumes based on SHFE prices are being paid for in yuan, said the sources cited by Bloomberg.
The shift comes as Nornickel aims to increase sales to China this year due to a decrease in demand from some European buyers who are shunning Russian commodities. Nornickel’s Chinese customers are also pushing for long-term contracts to be linked to Shanghai prices. Negotiations are still ongoing, but they may also involve a mix of LME and SHFE pricing, the news agency said.
“China, the world’s largest consumer of commodities, has long pushed for greater control over pricing. Still, the vast majority of global commodity trade is still based on global benchmark prices in dollars. The shift to SHFE pricing was proposed by Chinese authorities some time ago, as they see it as a more stable benchmark than the LME, one of the people said,” the report adds.

Vladimir Malakhov, Rough&Polished