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Rapaport TradeWire February 8, 2018
Feb 15, 2018 7:52 AM
By Rapaport
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| February 8, 2018 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment, with rising expectations for the Chinese New Year retail season. Busy trading at Israel’s International Diamond Week, with momentum expected to continue through the Hong Kong show (Feb. 27). US retailers restocking and hoping for positive Valentine’s Day sales, despite recent drop in equity markets. Polished prices firm, with 1 ct. RAPI +2.2% in Jan. Manufacturers concerned about rising rough prices cutting their profits. Titan Company 3Q sales +7% to $670M, profit +21% to $44M. Rio Tinto 2017 diamond revenue +15% to $706M, earnings +96% to $92M. Gem Diamonds 2017 sales +12% to $207M. Belgium 2017 polished exports -3% to $11.4B, rough imports -11% to $10.7B.
| | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 3.38% | 5.03% | 5.98% | | 0.50 ct | 0.93% | 2.62% | -13.37% | | 1.00 ct | 0.63% | 1.94% | -1.57% | | 3.00 ct | -0.39% | -0.04% | 3.54% |  | | 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: Steady New York trading, but dealers finding it difficult to replace sold inventory at current prices... |  |  | Belgium: Far East demand slower as Hong Kong wholesalers closed for the Chinese New Year... | | |  | Israel: Bourse pushing tech innovation to advance the country’s position in the global diamond trade... | | |  | India: Manufacturers raising polished production as they prepare inventory for the Hong Kong fair and in anticipation of good post-holiday US and Chinese demand... | | |  | Hong Kong: Online retailers gaining market share, but at tight profit margins. Dealers preparing for upcoming exhibition... | | |  | | | New CEO’s Three-Part Plan for Reviving Signet |  | | WITH John Costello | Gina Drosos hopes her ‘customer first’ and omni-channel strategies will reverse the jeweler’s recent downtrend. |  | | | WEEKLY NEWS | | industry | | | | India Hikes Taxes on Polished Imports | | New rate of 5% damages nation’s competitiveness, says GJEPC. |  | | | Traders Optimistic at Israel Diamond Week | | Shortages are driving the market, say dealers. | | | | | Diamond Prices Rise in January | | Strong holiday season boosts dealers’ confidence. | | | | | Antwerp’s Trade Slows in 2017 | | Polished demand was under pressure globally during the year, says AWDC. | | | | | Blues Up, Pinks Down in 2017 Index | | Yellow diamond prices also dip, but decline gentler than previous year. | | | | | Sotheby’s Offers Rare 102ct., D-Flawless Diamond | | Stone originated from De Beers rough. | | | | | retail | | | | Jeweler Sues Zales over Google Results | | Searches for Idaho-based Jensen Jewelers linked to Signet brand’s site, complaint says. | | | | | India Drives Rise in Gold Jewelry Demand | | Festival sales led to growth in the market. | | | | | Jewelry Sales Up Ahead of Chinese New Year | | Rising consumer sentiment and return of inbound tourism boosts Hong Kong retail. | | | | | Signet Retail and HR Execs to Exit | | Steven Becker and George Murray will leave on May 5. | | | | | NRF Predicts Strong Valentine’s Jewelry Sales | | Category beats out flowers, clothing, candy and other gift choices. | | | | | Titan Sees Third-Quarter Growth | | Reduced GST rate and a change in government reporting requirements aid performance. | | | | | US, Asia Weakness Dents Pandora Sales | | Company failed to meet guidance for the year. | | | | | mining | | | | Resurgent Rough Market Boosts Rio Tinto Revenue | | Stock replenishment following demonetization helped raise sales. | | | | | Big Stones Lift Gem Diamonds Results | | Miner’s rough-diamond revenue jumps 12% in 2017. | | | | | general | | | | Panama Bourse Names Faltz as President | | World Jewelry & Diamond Hub describes itself as the trade’s only Latin American exchange. | | | | | JBT Chief Anthony Capuano Retires | | Richard Weisenfeld will continue as acting president. | | | | | Bonhams’ Asia Head of Watches Is Bourne | | Former Christie’s and Sotheby’s exec takes the role. | | | | | Duncan Pay Appointed Head of GIA Education | | New chief academic officer is the editor of the institute’s journal. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Most diamond and jewelry companies’ share prices fell amid the past week’s stock-market volatility. However, miners fared better than most, with Alrosa (+3.4%) and Mountain Province (+1.8%) both gaining. Gem Diamonds (+0.6%) edged up after strong results. Birks (-20%) led the retail decline, after gaining 7.3% last week. | | | | | 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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