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Rapaport TradeWire July 13, 2017
Jul 16, 2017 3:25 AM
By Rapaport
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| July 13, 2017 | | RAPAPORT MARKET COMMENT |  | | Diamond markets quiet and in vacation mode. Polished inventory levels sufficient to see dealers through the third quarter. Manufacturers maintaining high production levels with $1.8B of rough sales to India this May. Cutter profitability a concern during this week’s Alrosa sale. Continued strength in e-commerce as Amazon’s Prime Day exceeds its Black Friday and Cyber Monday sales. Graff Diamonds Int’l 2016 sales -10% to $570M, profit -66% to $16M. Chow Tai Fook 1Q China sales +17%, HK/Macau +7%. Michael Hill FY global sales +6% to $437M, but US sales weak. Belgium’s June polished exports -12% to $1B, rough imports +5% to $997M. Tiffany & Co. appoints Alessandro Bogliolo as CEO. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.57% | -1.74% | 2.36% | | 0.50 ct | -0.90% | -3.88% | -16.09% | | 1.00 ct | -0.31% | -1.09% | -7.91% | | 3.00 ct | -0.50% | -2.02% | 1.45% |  | | 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: Trading quiet with dealers on vacation. Activity expected to remain slow through July-August summer period... |  |  | Belgium: Sentiment weak, as trading is expected to remain slow until the bourses close for summer break... | | |  | Israel: Market quiet with US clients on vacation. Trading in 0.30 to 0.49 ct. goods has slowed following a period of improved Chinese demand in 1H... | | |  | India: Polished trading slow with US buyers on summer vacation. Weak demand for lower-quality piqué goods, with fewer orders than expected after Las Vegas show... | | |  | Hong Kong: Dealer market cautious, with shift to lower price points. Good demand for better-quality SIs and steady demand for 0.30 to 0.50 ct., F-H, VS-SI, VG+ GIA-graded diamonds... | | |  | | | WEEKLY NEWS | | industry | | | | Bank Told to Restore Exelco Assets: Bloomberg | | Diamond cutter on track to repay loans by 2020, report states. |  | | | Global Witness Urges Trade to Improve CAR Checks | | Diamond firms are falling short when it comes to due diligence on Central African Republic, group says. | | | | | Belgium Polished Diamond Exports Decline | | Shipments to Hong Kong drop 22% in June. | | | | | DGSE in Talks to Buy National Pawn | | Acquisition could come alongside sale of wholesale division and focus on retail. | | | | | retail | | | | Tiffany Picks Ex-Bulgari Exec as CEO | | Alessandro Bogliolo currently runs Italian clothing brand Diesel. | | | | | Chow Tai Fook Cements Return to Growth | | Jewelry retailer’s sales rise in Hong Kong and China. | | | | | Graff Diamonds Intl. Sales Slide in 2016 | | Revenue and profit up for overall group, jeweler says. | | | | | Tiffany Hub Aims to Speed Up New Designs | | Facility in New York will unite creative and production teams in single location. | | | | | Amazon Prime Day Breaks Records | | Sales rise 60%, surpassing Black Friday and Cyber Monday. | | | | | Store Growth Drives Michael Hill Sales Jump | | US business continues to struggle, says Australian jeweler. | | | | | mining | | | | Alrosa Sees Stable June Rough Market | | Sector showed seasonal slowdown at end of month. | | | | | Ekati Extension Gets Crucial Water Permit | | License approval is key step for Jay project, says owner Dominion. | | | | | Diamcor 1Q Sales Decline | | Product shift lifts average price for April-to-June period. | | | | | general | | | | WDM Names Seven New Retail Members | | New authorized diamond dealers are from Belgium, Canada, Italy and Russia. | | | | | Scio Diamond to Up Synthetics Production | | Company completes debt restructure as it chases elusive profit. | | | | | MJSA Adds Membership Tier for Small Firms | | Companies with up to three employees can join trade body as ‘premier associate’ members. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks weakened this past week, with Macy’s (-9.7%) and Movado Group (-8.3%) recording the heaviest slides as Amazon’s continued dominance extended the low morale in the brick-and-mortar sector. Indian stocks slipped, led by Lypsa Gems (-18%), as investors feared the impact of the new goods and services tax on jewelers. Alrosa (+4.2%) gained value as it reported stable rough-diamond demand, while Gem Diamonds (-11%) declined. | | | | | 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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