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Rapaport TradeWire December 21, 2017
Dec 21, 2017 10:59 AM
By Rapaport
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December 21, 2017 | RAPAPORT MARKET COMMENT | | Positive sentiment as US and Belgium markets close for Christmas. Dealers now focused on Chinese New Year demand. Trade optimistic for 2018, with expectations for global economic growth as US passes most drastic tax overhaul in 30 years. Cutters concerned about tight profit margins ahead of anticipated 1Q rise in rough prices. Graff buys 476 ct. Sierra Leone Meya Prosperity rough diamond for $16.5M. India Nov. polished exports +50% to $1.8B, rough imports +64% to $1.9B. US Oct. polished imports -14% to $1.8B, polished exports -5% to $1.2B. Very strong year for pink diamonds as combined Christie’s and Sotheby’s jewelry sales exceed $1.1B. Rapaport wishes everyone happy holidays. | | RAPNET DIAMOND INDEX (RAPI™) | | | Weekly | Monthly | Y2Y | 0.30 ct | 0.23% | 0.16% | -0.54% | 0.50 ct | -0.03% | -0.08% | -18.49% | 1.00 ct | -0.13% | -0.51% | -5.91% | 3.00 ct | -0.50% | -1.79% | 3.29% | | 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: New York polished suppliers satisfied with season... | | | Belgium: Trading quiet with businesses closing for Christmas-New Year break... | | | Israel: Christmas orders complete and polished inventory levels reduced, with little new production available... | | | India: Steady Chinese New Year orders projected to continue through mid-January... | | | Hong Kong: Colored diamonds in good demand and offering better margins than colorless... | | | | WEEKLY NEWS | industry | | Alrosa Makes Rare Foray into Generic Marketing | Miner’s hockey-themed power play aims to create an engagement-ring culture in Russia. | | | Graff Buys 476ct. Prosperity Diamond for $16.5M | Luxury jeweler has acquired four high-profile rough stones this year. | | | AWDC, De Beers Mull Blockchain Partnership | Technology would increase transparency, helping companies access financing, says Antwerp group. | | | Auctioneers Tickled Pink by 2017 Jewelry Sales | Record-breaking diamonds drive total proceeds to more than $1 billion. | | | World Makes More Time for Swiss Watches | Strong growth in China drives timepiece recovery in November. | | | retail | | Retail Enjoying Impressive Season | Sales jumped 6% in November, says US Census Bureau. | | | Jewelry Buyers Still Desire In-Store Experience | Most consumers want an expert’s knowledge — more so than in other luxury sectors, survey finds. | | | Signet’s Brands Lose Popularity Among Women | Pandora “purchase consideration” higher than Jared, Kay and Zales in YouGov survey. | | | Macklowe Gallery Move Gives It Room to Grow | A fixture on New York’s Madison Avenue for 46 years, the estate jeweler has changed its address, but not its raison d’être. | | | mining | | Diamonds Fuel Moody’s Botswana Optimism | Production growth underpins agency’s decision to maintain its credit rating for the country. | | | Diamcor Third-Quarter Rough Sales Decline | 25-carat stone lifts average price for the period, even as total proceeds fall. | | | general | | Non-Profit Quits Kimberley Process | Conflict diamonds are entering the supply chain, Impact claims. | | | New Geneva Show to Tap Jewelry-Auction Audience | Organizers aim to create community of 100 high-end exhibitors. | | | US Polished Trade Slows in October | Imports fall 14%, exports down 5%. | | | IDCA Elects New Leaders | Nilesh Sheth becomes president of New York-based organization. | | | | FINANCE | Diamond Industry Stock Report | | Tiffany & Co. (+4.1%) gained as Citi upgraded the retailer’s stock, citing high expectations for the jeweler. Hong Kong-based Chow Sang Sang (+5.2%) and Chow Tai Fook (+2.6%) had a positive week. An encouraging technical report on the Karowe mine boosted Lucara Diamond (+8.9%), while an increase in metal prices saw rises for Anglo American (+7.8%) and Rio Tinto (+4.9%). Petra Diamonds (+7.6%) also enjoyed a strong week. | | | 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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