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Rapaport TradeWire June 15, 2017
Jun 15, 2017 6:02 PM
By Rapaport
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| June 15, 2017 | | RAPAPORT MARKET COMMENT |  | | Polished market stable with selective, price-sensitive buyers at Las Vegas shows. Opportunity for US independents to gain market share, as major retailers are under pressure. Pockets of good demand, with shortage of better-quality SIs. Rough market strong during De Beers sight. Dealers hoping June Hong Kong show will lift quiet Far East trading. Chow Tai Fook FY 2017 sales -9% to $6.6B, profit +6% to $404M. Alrosa May revenue +33% to $472M. Dominion 1Q sales +18% to $211M, net loss -47% to $7.8M. Belgium May polished exports +1% to $1.1B, rough imports -18% to $1.1B. Patrick Evans steps down as Mountain Province CEO. Jason Goldberger to replace Harvey Kanter as Blue Nile CEO. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.21% | -0.50% | 2.37% | | 0.50 ct | -0.53% | -1.80% | -13.10% | | 1.00 ct | -0.30% | -0.50% | -7.95% | | 3.00 ct | 0.40% | -0.58% | 0.57% |  | | The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network. | | | | Market Reports | | |  | United States: Positive sentiment after Las Vegas shows. Jewelry wholesalers expecting good follow-up from show meetings... |  |  | Israel: Dealers disappointed in slow JCK show. Antwerp trading more upbeat. Good demand for 0.40 to 0.50 ct., G-J, VS-SI and for 2 ct., D-G, VS-SI, 3X diamonds... | | |  | Belgium: Suppliers focused on dealer trading and online sales, as relationships with new US clients remained limited at JCK show... | | |  | India: Disappointment after JCK show failed to stimulate positive trading momentum. Lower retail attendance meant fewer orders and uncertainty for second half of 2017... | | |  | Hong Kong: Polished trading slow during traditionally quiet summer period. Dealers preparing for upcoming Hong Kong Jewellery & Gem Fair... | | |  | | | Insights |  | | WITH Avi Krawitz | | 5 Takeaways from Las Vegas | | Beyond the trading prospects for buyers and suppliers, the various trade shows that took place in Las Vegas last week provided a snapshot of the diamond and jewelry market. Here’s our insight into the underlying trends that emerged at the shows. |  | | | WEEKLY NEWS | | industry | | | | De Beers to Shut Dubai Auction Base | | Business has shifted focus to Mumbai. |  | | | India Relaxes Tax on Jewelry-Making | | Government lowers manufacturing levy from 18% to 5% following GJEPC petitions. | | | | | De Beers to Start Third-Party Polished Sales | | Almost 50 diamonds on offer at inaugural auction of other companies’ ‘exceptional’ stones. | | | | | Antwerp Sees Improved Polished Trade | | Higher exports to Hong Kong and Israel outweigh US dip. | | | | | retail | | | | Engagement-Ring Prices Stable at $3.4K | | Overall wedding spending falls as couples seek alternatives to traditional options. | | | | | Chow Tai Fook Restores Elusive Sales Growth | | First half-year increase since 2014 reflects improvement in Chinese economy. | | | | | Target Exec to Become Blue Nile CEO | | Jason Goldberger replaces Harvey Kanter, who will stay on as chairman. | | | | | De Beers Inks Japan Retail Grading Deal | | IIDGR will issue reports for diamonds at 68 I-PRIMO stores. | | | | | mining | | | | Gemfields Receives Chinese Takeover Bid | | Fosun Gold says deal would help gemstone miner access Eastern market. | | | | | Dominion Gains from Higher-Value Ekati Production | | Sales jump 18% as miner focuses on more lucrative area of Canada asset. | | | | | Alrosa Sales Rebound to $472M in May | | Revenue still down 5% for the year to date. | | | | | Mountain Province Names New Chief | | David Whittle will replace departing CEO Patrick Evans. | | | | | Letšeng Bears Two Diamonds over 100cts. | | Larger one is yellow, type I stone, while other is D-color, type IIa. | | | | | general | | | | Alrosa in Talks to Raise Dubai Rough Sales | | DMCC chairman Ahmed Bin Sulayem meets with miner’s president Sergey Ivanov. | | | | | Harry Winston Ring Leads Christie’s London Sale | | 10.23-carat Colombian gemstone ring smashes estimate. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | De Beers owner Anglo American (-6.1%) lost value as the South African government outlined new rules to increase black ownership of mines that could force the company to sell some iron-ore assets. Other mining stocks also fell this week for different reasons, including Firestone Diamonds (-7.7%), Petra Diamonds (-7.4%) and Rio Tinto (-3.3%). US retail stocks mainly had a positive week, led by Nordstrom (+17%) following its announcement of a potential takeover by members of the chain’s namesake family. | | | | | Contact Us |  |       | | © Copyright 2017 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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