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Rapaport TradeWire July 6, 2017
Jul 7, 2017 1:26 AM
By Rapaport
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| July 6, 2017 | | RAPAPORT MARKET COMMENT |  | | Diamond market seasonally quiet as US dealers take vacation. Cutters under pressure as rough prices firm in 1H, while polished prices continue to soften. June RAPI for 1 ct. -0.8%, 0.30 ct. -1.5%, 0.50 ct. -3%, 3 ct. -1%. Polished inventory rising, with dealers expecting a slow summer period. Indian government reform favoring large jewelers as new GST tax system takes effect. Titan Company projects 50% growth in FY1Q. Global 2016 KP rough diamond production -11% to $12.4B, volume +5% to 134.1M cts., average price -15% to $92/ct. US April polished imports -15% to $1.6B, polished exports -13% to $1.2B. Stéphane Fischler to replace Andrey Polyakov as World Diamond Council president. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.31% | -1.43% | 2.59% | | 0.50 ct | -1.83% | -3.46% | -15.41% | | 1.00 ct | -0.45% | -0.99% | -7.93% | | 3.00 ct | -1.79% | -0.20% | 1.43% |  | | 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: Diamond market quiet, with wholesalers closed for the two-week summer vacation that began with July 4 long weekend... |  |  | Belgium: Polished trading slow, with very little inventory-purchasing. Suppliers trying to maintain prices until August vacation period... | | |  | Israel: Market quiet as US wholesale clients take vacation. Far East trading stable, with steady demand for 0.30 to 0.50 ct., G-H, VS-SI, RapSpec A2+ diamonds... | | |  | India: Polished trading cautious, with buyers pushing for deeper discounts and suppliers holding prices firm for new goods... | | |  | Hong Kong: Market seasonally slow, with jewelry wholesalers and retailers planning for fourth quarter. June Hong Kong show not generating much follow-up business... | | |  | | | WEEKLY NEWS | | industry | | | | Polished Diamond Prices Decline in June | | Rapaport Press Release: Jewelers reduce inventory requirements amid changing consumer habits. |  | | | Bank Seizes Exelco’s Assets: Bloomberg | | Antwerp-based diamond manufacturer owed KBC $29M, says report. | | | | | Global Rough Trading Jumps in 2016 | | India, EU and UAE remain largest importers, KP data shows. | | | | | US Polished Imports Slow in April | | Value and volume decline year on year, but average price grows 2%. | | | | | India’s Titan Upbeat on Jewelry Sales | | Business grew 50% during important gold-buying season. | | | | | mining | | | | Diamond Production Value Down Last Year | | Russia, Botswana see declines, but overall volume rises. | | | | | Alrosa Mulls Raising Output Target | | Russian miner hiked rough prices 3% between January and May. | | | | | Letšeng Yields 126ct. Rough Diamond | | Gem Diamonds’ latest find follows switch to higher-value part of mine. | | | | | Lulo Sees Double-Digit Sales Growth | | Revenue up 58%, production rises 63% in second quarter. | | | | | general | | | | GIA Finds Baffling Flaw in CVD Diamond | | Puzzled gemologists say ‘H4 defect’ is rarely found in synthetics. | | | | | Sarine Sues over Alleged Patent Infringement | | Company claims ‘unscrupulous businessmen’ illegally selling copies of its technology. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Luk Fook (+11%) led Far Eastern stocks this week as the jeweler reported an increase in profit. US retail stocks were fairly stable, with Movado Group (+6.4%) the only major mover after it bought UK watch brand Oliver Burton. European luxury shares slipped amid uncertainty in the region, while mining stocks had a mixed week. Titan Company (+4.5%) was the top Indian performer after the jeweler gave a positive sales report and said the nation’s new tax system would likely work to its advantage. | | | | | 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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