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Rapaport TradeWire October 26, 2017
Oct 26, 2017 12:40 PM
By Rapaport
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| October 26, 2017 | | RAPAPORT MARKET COMMENT |  | | Polished trading improves in Belgium, Israel & Hong Kong as India shuts down for Diwali. US holiday orders driving sales, with buyers pushing for deeper discounts. Polished inventory high, but shortages of select RapSpec A3+ SIs. Rough market slow with Indian factories closed. Alrosa 3Q sales volume -10% to 7.5M cts, production -6% to 10.3M cts. De Beers 3Q sales volume +21% to 6.9M cts, production +46% to 9.2M cts. Petra Diamonds 1Q sales -17% to $79M. Luk Fook 2Q same-store sales +17%, gem-set jewelry +16%. Signet Jewelers completes $960M sale of prime credit program. J.C. Penney rebrands jewelry unit with lower-priced smartwatches and bridal line for millennials. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.12% | 0.00% | -0.50% | | 0.50 ct | -0.07% | -2.22% | -20.80% | | 1.00 ct | 0.05% | -0.90% | -5.28% | | 3.00 ct | -0.02% | -0.62% | 4.61% |  | | 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: Dealers’ margins squeezed as polished prices have softened... |  |  | Belgium: Polished trading increases after seasonal third-quarter slowdown... | | |  | Israel: Sentiment relatively positive, despite rumored bankruptcies... | | |  | India: Manufacturers hoping shutdown will help rebalance inventory levels... | | |  | Hong Kong: Retailers gaining confidence and resuming store expansion in China... | | |  | | | The Peace Diamond Challenge |  | | A Diamond That Makes the World a Better Place | | With the sale of the 709-carat Peace Diamond, Martin Rapaport challenges the industry to transcend the commodity approach of selling diamonds based solely on physical characteristics. The trade must create emotional value for diamonds. |  |  | | | WEEKLY NEWS | | industry | | | | Labs Launch Credit Card-Sized Grading Reports | | HRD Antwerp and IGI products are easier to transport and store. |  | | | US Jewelry Trade Slowdown Eases | | Only 192 companies closed their operations in the third quarter, says JBT. | | | | | Storied Yellow Diamonds Could Sell for $14M | | Donnersmarck jewels were owned by one of the most famous 19th-century Paris courtesans. | | | | | India’s Polished Exports Grow in September | | Rough imports drop ahead of Diwali. | | | | | Israel’s Diamond Exports Continue to Slide | | Government data indicates a drop in US orders. | | | | | retail | | | | Smart Watches to Boost JCPenney Jewelry Sales | | Department-store chain rebrands business unit ahead of holidays. | | | | | Luk Fook Growth Reflects China Recovery | | Quarterly same-store sales up 17% for Hong Kong-based jeweler. | | | | | Signet Closes Sale of Prime Credit Program | | Deal enables retailer to reduce its debt and give capital back to shareholders. | | | | | mining | | | | Alrosa Sales Hit by Weak Rough Demand | | Miner allows 50% rejections in August and September. | | | | | De Beers Sees Sales Volume Rise | | Miner revises production forecast as market stabilizes. | | | | | Confiscated Diamonds Weigh on Petra Revenue | | The company's rough diamond prices fell 5% since June. | | | | | Gahcho Kué Production Exceeds Forecasts | | Third-quarter output at Canada-based mine up 19%. | | | | | Alrosa Finds 34ct. Yellow Diamond | | Stone is the largest fancy-color diamond the miner has recovered this year. | | | | | general | | | | Strategy Chief Gareth Mostyn to Leave De Beers | | Former CFO will take up finance role at Church of England. | | | | | Swiss Watch Exports See Further Growth | | Hong Kong shipments jump in September. | | | | | RJC, DMCC Sign Social Responsibility Deal | | Groups will work to educate industry on sustainability and ethical practices. | | | | | Diamond Fund Donates $130K to Botswana Program | | Grant will go toward supporting next generation of leaders. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks generally had a strong week, buoyed by a surge in the Dow Jones Industry Average (+1.7%). Signet (+6.6%) led gains among the major jewelry companies. In Hong Kong, Luk Fook (+5%) increased after announcing a jump in sales, while in Europe, strong Gucci sales boosted the stock price of its parent company, Kering (+9.3%). Mining stocks had a shaky week. Stornoway Diamond’s share price slumped (-17%) amid reports that higher-than-normal breakage of diamonds at the Renard mine is affecting investor confidence. | | | | | 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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