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Rapaport TradeWire November 9, 2017
Nov 9, 2017 11:17 AM
By Rapaport
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November 9, 2017 | RAPAPORT MARKET COMMENT | | Polished trade improving ahead of US holiday season, but India still slow after Diwali. Positive retail sentiment as jewelers prepare omni-channel platforms targeting millennials and female self-purchasers. Rough markets quiet, with small De Beers sight expected and cutters aiming to reduce inventory and raise profitability. Grib mine projected 2017 sales +16% to 4.4M cts., average price +4.5%. Lucara 3Q sales +105% to $78M, profit of su$33M vs. loss of $4M. Belgium Oct. rough imports +1% to $904M. Titan Company 2Q sales +30% to $542M, profit +67% to $43M. Pandora 3Q revenue +13% to $809M, profit -3% to $213M. Rapaport hosts NY viewing of Alrosa Dynasty Collection on Nov. 8-17. | | RAPNET DIAMOND INDEX (RAPI™) | | | Weekly | Monthly | Y2Y | 0.30 ct | -0.01% | 0.16% | -0.44% | 0.50 ct | 0.05% | -0.34% | -20.52% | 1.00 ct | 0.10% | -0.34% | -5.72% | 3.00 ct | 1.16% | 0.86% | 5.61% | | 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: Dealers holding large polished inventory and have little appetite to buy... | | | Belgium: Israeli and Indian dealers in Antwerp looking for specific categories that are in short supply due to slow polished production... | | | Israel: Active trading, with steady US demand for 1 to 3 ct., F-J, VS2-I1 RapSpec A3+ diamonds... | | | India: Inaugural India International Diamond Week helps raise activity, with sizable foreign-buyer delegation, including strong NY presence... | | | Hong Kong: Strong promotional activity, with dealers and jewelers expecting improvement during Singles’ Day online sales festival... | | | | Rapaport Peace Diamond Video Challenge | The Rapaport Group is offering a $5,000 first prize for the best YouTube video promoting the Peace Diamond and the brand concept of “Diamonds That Make the World a Better Place.” Visit https://www.peacediamond.com/ for contest information, and see this video: https://www.peacediamond.com/videos/. | | | | WEEKLY NEWS | retail | | Tiffany Collection Puts Eggs in $10K Basket | Luxury items include $1,000 tin can, $9,000 ball of yarn and $95 bone-china ‘paper’ cups. | | | Forevermark Line is ‘Tribute to Women’s Qualities’ | Celebrities attend New York launch of brand’s new jewelry. | | | Europe and Asia Drive Pandora Growth | Hurricanes, weaker dollar and retail challenges hit US sales. | | | Titan Upbeat After Strong Quarter | Government U-turn on regulation boosts Indian jeweler’s performance. | | | industry | | Blue Diamond Scarcity Drives Price Rise | 2016 and 2017 saw record-low production, says the Fancy Color Research Foundation. | | | Graff Among Buyers at Record Pink Diamond Sale | Argyle results reflect strong demand for colored specimens, says Rio Tinto. | | | Groups Agree on Uniform Grading Terms | World Jewellery Confederation and International Diamond Council to use the same language. | | | Belgium Sees Jump in Polished Exports | Shipments increase 6% in October. | | | mining | | Alrosa Moving to Annual Rough Allocations | Russian miner to adopt De Beers-style sales policy. | | | Grib Mine Projects Higher Sales in 2017 | Revenue hike reflects expected 16% increase in production, says general manager. | | | Lesedi La Rona Boosts Lucara Sales | Operational issues force miner to reduce full-year revenue projection. | | | Diamond Market Dip Hits Stornoway | Average price of $95 per carat falls short of expectations for Renard mine. | | | general | | Buffett’s Ben Bridge Names First Female Boss | Lisa Bridge becomes president and COO of family-run jeweler. | | | Ex-Signet COO Joins Stuller | Bryan Morgan will oversee wholesaler’s IT infrastructure. | | | UN, De Beers Look to Empower Botswana Women | $755,000 program aims to support female micro-entrepreneurs. | | | | FINANCE | Diamond Industry Stock Report | | Kohl’s (-11%) led the declines in US retail stocks this past week after the department-store chain missed its profit estimate. Strong results from India’s Titan (+19%) gave the jewelry retailer a share-price boost, with luxury stocks in Europe and the Far East mixed. Lucara Diamond (+9.8%) led mining stocks after its sale of the Lesedi La Rona lifted revenue, though it was generally a negative week for rough producers. | | | 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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