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Rapaport TradeWire June 1, 2017
Jun 1, 2017 6:51 PM
By Rapaport
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| June 1, 2017 | | RAPAPORT MARKET COMMENT |  | | Rising expectations for next week’s JCK Las Vegas show. Dealers testing the market, with jewelers adapting to changing consumer habits that may impact their inventory decisions. US retail environment highly promotional amid slow mall traffic as consumers shift to online. Manufacturers protecting their polished profit margins as rough demand remains strong. Asian Star FY sales +6% to $542M, profit -11% to $10M. Alrosa 1Q sales -17% to $1.5B, profit -55% to $401M due to large sales of lower-quality, less profitable rough and ruble appreciation. NY Diamond Dealers Club to move to International Gem Tower in June. Rapaport Breakfast & Conference on Wednesday, June 7 at 8am, registration at www.diamonds.net/JCK2017/Home.aspx. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.03% | 0.00% | 2.21% | | 0.50 ct | -0.13% | -1.36% | -12.36% | | 1.00 ct | -0.24% | -0.29% | -7.73% | | 3.00 ct | -0.18% | 0.39% | 0.20% |  | | 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. | | | | WEEKLY NEWS | | industry | | | | Diamond Dealers Club to Move Office in June | | Neighbors at International Gem Tower will include De Beers and the GIA. |  | | | Harry Winston Buys Top Lot at Christie’s Hong Kong | | Fancy vivid blue diamond fetches $8.9M. | | | | | Asian Star Profit Slides on Higher Costs | | Jewelry revenue jumps 21%, outperforming diamond division. | | | | | retail | | | | Forevermark Inscribes Two-Millionth Diamond | | Round brilliant-cut, 3.48-carat stone will be part of red-carpet jewelry collection. | | | | | US Jewelry-Store Sales Up in March | | Consumer confidence hits highest level since 2000. | | | | | mining | | | | Alrosa Profit Slumps Despite Inventory Sell-Off | | Sales mix shifts to lower-quality goods. | | | | | Gahcho Kué Yields 85ct. Diamond | | Rough stone is largest yet from new mine in Canada. | | | | | Lucapa on Track to Develop Mothae Mine | | Trial mining at the asset yields 23,000 carats of high-value rough diamonds. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Signet Jewelers (-12%) suffered its second consecutive weekly decline following disappointing quarterly sales. US retail stocks were otherwise mixed, with Movado Group (-5.8%) down following a drop in revenue and Birks Group (+11%) gaining value. In India, Renaissance Jewellery (+19%) benefited from strong financial results, while other jewelry stocks were mixed. Mining stocks generally had a sluggish week, with Petra Diamonds (-5.4%) and Anglo American (-4%) both lower. |  | | | 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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