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Rapaport TradeWire January 18, 2018
Jan 18, 2018 11:17 AM
By Rapaport
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| January 18, 2018 | | RAPAPORT MARKET COMMENT |  | | Dealers upbeat and maintaining firm prices, with expectations of higher rough prices and 1Q stock replenishment. Rough market robust, with large De Beers sight expected next week. Jewelers discounting less amid increase in consumer spending this holiday season. US equity markets hit new highs as dollar weakens. Tiffany & Co. renews growth as Nov.-Dec. sales +8% to $1.1B, comparable-store sales +5%. Okavango 2017 sales +4% to $567M, average price +4% to $166/ct. Gem Diamonds finds 910 ct. rough at Letšeng mine. Sarine to open first grading lab. De Beers pilots diamond blockchain to improve industry transparency. Pramod Kumar Agarwal elected India GJEPC chairman. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.54% | 1.93% | 1.51% | | 0.50 ct | 0.53% | 1.67% | -15.50% | | 1.00 ct | 0.95% | 1.66% | -2.93% | | 3.00 ct | -0.05% | -0.10% | 4.54% |  | | 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 and dealer markets stable, with steady demand for 1 ct., G, VS2-I2 diamonds... |  |  | Belgium: Rough trading busy during Alrosa sales week, with higher premiums on the secondary market... | | |  | Israel: Profit margins improving, as prices firmed after the holiday season... | | |  | India: Solid rough demand ahead of De Beers sight... | | |  | Hong Kong: Shortage of brides due to China’s one-child policy, forcing grooms to show their worth by splurging on bigger and better diamonds... | | |  | | | WEEKLY NEWS | | retail | | | | Tiffany Restores Growth in Strong Holiday Season | | Higher spending in US and Asia drives 8% sales jump. |  | | | Luk Fook Sees Modest Sales Gain | | Gem-set jewelry shows strongest improvement. | | | | | Birks Slides During Holidays | | Renovation of flagship stores affects performance. | | | | | Pandora Seeks New Americas Chief | | Revenue falls short of jeweler’s predicted total. | | | | | industry | | | | De Beers Takes Further Blockchain Step | | Miner is piloting technology with small number of participants from the trade. | | | | | Sarine Rolls Out First Grading Lab | | The center will open in Israel in February. | | | | | New Campaign Highlights Manufacturers | | Trade organization targets millennials to raise interest in the industry. | | | | | Sotheby’s Names Head of Watch Auctions | | Sam Hines has held senior roles at Christie’s and Phillips. | | | | | US Diamond Imports Rise in November | | Shipments grow 11% to $1.77 billion. | | | | | Jewelry Group: There Is No Glass Ceiling | | Women’s Jewellery Network releases social-media campaign to promote its members. | | | | | mining | | | | Historic 910ct. Diamond Unearthed at Letšeng | | Stone is believed to be the fifth-largest of its kind. | | | | | Alrosa Sees Sales Decline in 2017 | | Demand for lower-value rough reduces average prices. | | | | | Okavango Annual Rough Sales Increase | | Top lot of the year sells for over $7.5 million. | | | | | Stornoway Hit by Challenging Diamond Market | | Miner falls just short of production goal. | | | | | Firestone Optimistic About 2018 Prices | | Production at Lesotho mine shifts to higher-grade area. | | | | | Yellow Diamond Weighs In as Lulo’s Largest | | Lucapa recovers 43-carat stone at Angola mine. | | | | | general | | | | GJEPC Appoints New Chairman | | Pramod Kumar Agarwal set to take charge for the 2018-to-2020 period. | | | | | Israel Bourse to Launch Cryptocurrencies | | New technology aims to make diamond trading simpler. | | | | | Carat+ Show to Return in May | | The Antwerp Expo in Belgium will host the event’s second edition. | | | | | Jewelry Industry Summit Postponed | | Lack of funding prompted decision, organizers say. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Gem Diamonds (+12%) gained this week after finding a 910-carat diamond. Lucapa Diamond (+17%) saw a rise as well, having issued a positive report about its exploration projects and recovered some large stones of its own. Signet (+6%) bounced back from last week’s slide, which was due to poor results, while Tiffany (+3.3%) saw its share price increase following a healthy holiday performance. Luk Fook (-9.6%) trailed Far East stocks after reporting mediocre sales. | | | | | 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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