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Rapaport TradeWire February 1, 2018
Feb 1, 2018 11:20 AM
By Rapaport
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| February 1, 2018 | | RAPAPORT MARKET COMMENT |  | | Steady demand and firm prices. Chinese orders slow down as focus turns to consumers for Chinese New Year (Feb. 16). Rising expectations for Year of the Dog, after China’s gold, silver and jewelry sales +6% to $47.2B in 2017. Strong rough market during $665M De Beers sight, with dealers selling boxes at estimated 6% average premium. De Beers selling third-party rough on auction platform. Alrosa 2017 sales volume +3% to 41.2M cts., production +6% to 39.6M cts. Petra Diamonds 1H revenue +1% to $225M, production +10% to 2.2M cts. LVMH 4Q jewelry & watch sales +9% to $1.3B. India raises import duty on polished diamonds from 2.5% to 5%.
| | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.51% | 2.31% | 2.55% | | 0.50 ct | 0.42% | 2.35% | -14.35% | | 1.00 ct | 0.39% | 2.16% | -2.34% | | 3.00 ct | -0.48% | 0.49% | 4.07% |  | | 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: Jewelers preparing for Valentine’s Day with less promotional discounting than usual... |  |  | Belgium: Rough market busy, with strong premiums for De Beers and Alrosa boxes... | | |  | Israel: Some suppliers selling at lower prices to reduce inventory and improve liquidity, but are struggling to replace stock at current prices... | | |  | India: Slight slowdown in trading as Far East buyers have completed their orders for the Chinese New Year... | | |  | Hong Kong: Positive sentiment, with dealers optimistic for the festival and for the upcoming Hong Kong show... | | |  | | | WEEKLY NEWS | | industry | | | | Rough Market Upbeat at $665M De Beers Sight | | Post-holiday restocking boosts demand in January. |  | | | New Guidelines Clarify: ‘Diamond’ Means ‘Natural’ | | Nine trade bodies agree on terminology. | | | | | The Rapaport Diamond Podcast: Episode 2 | | The editorial team discusses blockchain, omni-channel retail, and the debatable effectiveness of the Kimberley Process. | | | | | The Industry’s Top 12 Trends for 2018 | | What should jewelers focus on this year? | | | | | Diamond Dealers Club Opens New Trading Floor | | Exchange in International Gem Tower hosts India Week as inaugural event. | | | | | retail | | | | Jewelry Shines as LVMH Sees Record Results | | A good year for Bulgari, TAG Heuer and Hublot helps lift sales. | | | | | Asia Drives Growth in Swiss Watch Exports | | Shipments to US fall in 2017. | | | | | Bucherer Enters US with Tourneau Purchase | | Luxury watch retailer is largest in the North American market. | | | | | mining | | | | De Beers to Auction Other Miners’ Diamonds | | Company seeks to satisfy clients’ desire for broader range of rough. | | | | | Alrosa Sales Exceed 41M Carats in 2017 | | Production rises despite Mir shutdown. | | | | | Diamond Seizure Dents Petra’s Sales | | Tanzanian government is still holding parcel of 71,654 carats. | | | | | Prices Improve at Stornoway Rough Tender | | Stronger market and better-quality output boost sales. | | | | | Botswana’s Rough Exports Drop | | Figures reflect De Beers’ lower sales value in 2017. | | | | | Mountain Province Acquires Kennady Project | | Deal reunites two companies that split five years ago. | | | | | Lucapa Sales Slump with Fewer Big Diamonds | | Lulo mine lacked repeat of 2016’s 404-carat find. | | | | | general | | | | GIA Allocates $2M for New Scholarships | | Amount includes fund in memory of Texas jewelry couple. | | | | | Indian Bourse to Hold First Diamond Week | | Event aims to forge connections between buyers and suppliers. | | | | | US Lab Creates 6ct. CVD Synthetic | | Company claims world record for man-made stone of its size and shape. | | | | | NPD Group Taps Watch and Luxury Analyst | | Reginald Brack was previously a senior executive at Christie’s. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Shares in Petra Diamonds (-22%) slumped after the company issued a profit warning, while Stornoway Diamond Corporation (-8.2%) also saw its stock drop. Michael Hill’s stock price (-3.1%) slipped, after last week’s announcement that the retailer was exiting the US market fueled an initial surge. European luxury shares strengthened, with LVMH (+3.9%) and Swatch (+7.1%) both gaining after positive sales results. Canadian jeweler Birks Group (+7.3%) had a good week, while US retail chains J.C. Penney (-4.1%), Macy’s (-4.8%) and Signet (-5.4%) all saw declines. | | | | | 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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