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Rapaport TradeWire July 27, 2017
Jul 28, 2017 9:09 AM
By Rapaport
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| July 27, 2017 | | RAPAPORT MARKET COMMENT |  | | India IIJS show opens with steady traffic but mixed expectations for domestic jewelry demand in light of demonetization and GST regulations. NY shows lift US dealer sentiment. Rough premiums soften during De Beers sight. US jewelry sector shrinks at slower pace as 235 businesses closed in 2Q vs. 460 last year. De Beers 1H revenue -4% to $3.1B, underlying earnings -10% to $341M. Alrosa 1H production +14% to 19.3M cts., sales volume +12% to 24.3M cts., average price -14% to $100/ct. Letšeng average price +20% to $1,779/ct. Petra Diamonds FY’17 sales +11% to $477M. LVMH 2016 jewelry and watch sales +14% to $2.2B. India’s June polished exports +7% to $2B, rough imports +48% to $1.8B. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.18% | -1.64% | 2.31% | | 0.50 ct | -0.30% | -3.89% | -16.96% | | 1.00 ct | 0.02% | -0.97% | -7.18% | | 3.00 ct | 0.45% | -0.46% | 3.27% |  | | 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: Wholesale trading improves with dealers attending the New York fairs. Antique show busy, JA quiet. Rising interest in large stones above 5 carats... |  |  | Belgium: Quiet market with many dealers in vacation mode ahead of three-week break. Bourses closed from July 31 to August 18... | | |  | Israel: Polished trading slow. Companies focused on selling through overseas offices as August vacation approaches... | | |  | India: Sentiment improves as IIJS show begins. Concern that new goods and services tax (GST) and rising gold prices will limit gold jewelry sales at the show... | | |  | Hong Kong: Positive mood as dealers note stronger sales than last year. Rising expectations for September show as retail sales continue to improve... | | |  | | | WEEKLY NEWS | | industry | | | | GJEPC Calls for DPA Budget Hike to $100M | | More marketing funding necessary to make impact on global market, group says. |  | | | US Jewelry Business Closures Slow in 1H | | Retail sector shrank by 445 businesses, compared to 623 last year. | | | | | US Polished Trade Continues Decline in May | | Imports fall for eighth month in a row. | | | | | India’s Polished Trade Improves in June | | Rough imports jump 48%, data shows. | | | | | Record Red Diamond Leads Argyle Tender | | 2.11-carat stone is largest of its kind in 33 years of Rio Tinto’s annual sale. | | | | | retail | | | | Asia and Europe Boost LVMH Jewelry Sales | | Strong Bulgari performance drives 14% revenue growth in first half. | | | | | Blue Nile to Open Sixth Webroom | | Format enables higher sales per square foot than traditional jewelers, company says. | | | | | Swiss Watch Industry Extends Recovery | | Stronger demand in Asia Pacific and Europe in June. | | | | | mining | | | | Weaker Product Mix Dents De Beers Sales | | Revenue falls 4% in first half as Indian cutters restock low-value goods. | | | | | Higher Grade Drives Alrosa Production Jump | | Miner’s output up 14% compared with first half a year ago. | | | | | Large Diamonds Boost Letšeng Prices | | Average for Gem Diamonds mine rises to $1,779 per carat. | | | | | Petra Diamonds’ Output Disappoints | | Expansion programs have taken longer than expected. | | | | | general | | | | Two Arrested for Trying to Steal Sarine’s IP | | Company hired private investigator to pose as employee and correspond with third party. | | | | | Alrosa Appoints Head of Polishing Division | | Pavel Vinikhin will implement marketing strategy aimed at increasing profitability. | | | | | Grima Jewels to Lead London Auction | | Largest private collection of the designer’s creations will go under the hammer in September. | | | | | Fifth Avenue Diamond Gallery Set to Open | | Experience based on eight facets of love in Plato’s Symposium. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Anglo American (+9.8%) led London mining stocks this week as De Beers’ parent company returned to paying dividends earlier than expected following a successful cost-cutting drive. Miners otherwise had a mainly sluggish week, with Petra Diamonds (-7.1%) heading the declines after disappointing results. Strong first-half sales at LVMH (-3.7%) failed to prevent a decline in its share price, with fellow European luxury groups Kering (-2.5%) and Damiani (-2.1%) also losing value. US retail stocks had a strong week, led by J.C. Penney (+6.7%) following the appointment of the department-store chain’s new chief financial officer. | | | | | 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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