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Rapaport TradeWire April 26, 2018
Apr 26, 2018 12:24 PM
By Rapaport
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| April 26, 2018 | | RAPAPORT MARKET COMMENT |  | | Diamond market seasonally quiet. Polished prices steady, but profit margins squeezed after April rough increase. Polished trading more profitable than rough manufacturing. Petra 1Q rough prices +5%. Letšeng 1Q average price +98% to $3,276/ct. Miners sold more carats than recovered in 1Q: De Beers sales -38% to 8.8M cts., production +15% to 8.5M cts. Alrosa sales -6% to 13.3M cts., production -17% to 7.4M cts. US jewelry sector shrinking as 343 businesses discontinued in 1Q. Christie’s sells $46M (88% by lot) and Sotheby’s sells $34M (83% by lot), with fancy intense blue diamonds leading New York auctions. De Beers to launch diamond-tracking program for artisanal miners. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.39% | -0.49% | 1.39% | | 0.50 ct | 0.14% | 0.35% | -8.27% | | 1.00 ct | 0.16% | -0.01% | -1.01% | | 3.00 ct | 0.76% | 0.40% | 1.79% |  | | 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: Difficult for wholesalers to replace the diamonds they sold at previous prices... |  |  | Belgium: Larger firms getting steady orders, doing better than smaller companies... | | |  | Israel: Polished prices firm as manufacturers defend recent rough-price hikes... | | |  | India: Trading slower, despite inaugural Bharat Diamond Week... | | |  | Hong Kong: Jewelry retail continues to improve, driven by gold sales in China and rise in tourist shopping... | | |  | | | Attending JCK 2018? Don’t miss the Rapaport Breakfast |  | | State of the Diamond Industry – The Buy Side | This year’s Rapaport Breakfast will look at opportunities on the buy side. There will be a strong focus on sourcing – how to buy better. We will discuss how to implement legitimate supply-chain management that will add value to your brand as well as the diamonds and jewelry you sell. Additional Rapaport events will include an in-depth session on managing an ethical supply chain, and a special talk for appraisers. |  | | | Tiffany’s Element of Surprise |  | | WITH Avi Krawitz | The April edition of the Rapaport Research Report takes an in-depth look at how the top US jewelers are adapting to the changing retail environment. Among those, Tiffany & Co. is reinventing itself as a more whimsical company, in an effort to get millennials excited about the brand — and diamonds — again. We explore Tiffany’s strategy in this excerpt from the report. |  | | | WEEKLY NEWS | | industry | | | | De Beers to Sell Diamonds from Artisanal Miners | | Project will provide small-scale producers with tracking technology. |  | | | Labs Refute Claims HPHT Escaping Detection | | De Beers and GIA insist their scanners are effective even on irradiation-treated diamonds. | | | | | 3.50ct. Blue Diamond Sets Record at Sotheby’s | | Piece sells for highest price per carat for stone in its category. | | | | | retail | | | | Hong Kong Tourism Fuels Luk Fook Growth | | Same-store sales increase 16% in fourth fiscal quarter. | | | | | Kering Jewelry Lines See Strong First Quarter | | New collections help drive luxury retailer’s sales. | | | | | Swiss Watches See Highest Growth in Six Years | | Exports increase 10% in the first three months. | | | | | mining | | | | De Beers Raises Output in Healthy Market | | Production up 15% in first quarter. | | | | | 910ct. Stone Fuels Gem Diamonds Sales | | Revenue almost triples as miner sells Lesotho Legend for $40M. | | | | | Alrosa Production Drops in First Quarter | | Lower-grade ore extraction and Mir closure spur decrease. | | | | | Argyle Boosts Rio Tinto Production | | Miner’s diamond output grows 11% in January-to-March period. | | | | | Price Rise Lifts Petra Rough Sales | | Third-quarter revenue increases 44%. | | | | | Firestone Sees Rise in Output, Prices | | Miner notes improvement in market conditions. | | | | | Mountain Province Tender Yields $26M | | Third sale of the year sees higher proceeds but lower average price. | | | | | Trans Hex Sells Idle Mines | | Company’s shares spike after it offloads unprofitable assets. | | | | | general | | | | Blue Diamond Tops Christie’s New York | | 3.09-carat stone sells for $5.4 million at auction. | | | | | Alrosa Moves to Strengthen India Base | | Bharat Diamond Bourse location will help deepen ties with local manufacturers. | | | | | Jewelry Businesses Continue to Shutter | | US trade has shrunk 4% since a year ago. | | | | | Colored Gems Dominate Bonhams Auction | | Sales reach $4.5 million at New York event. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Shares in India’s PC Jeweller (-22%) slumped this past week, prompting the company to reassure investors of its financial strength. Luk Fook (+7.2%) led Hong Kong stocks after reporting positive results, while a sales rise at Kering helped lift the European retailer’s shares (+4.6%). Mining stocks mainly increased, with Petra Diamonds (+12%) heading the sector on the back of promising revenue and production figures. Macy’s (+5%) was the standout performer among US retailers.
| | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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