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Rapaport TradeWire February 15, 2018
Feb 15, 2018 11:29 AM
By Rapaport
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| February 15, 2018 | | RAPAPORT MARKET COMMENT |  | | Polished prices firm, supported by shortage of select fine-cut (3X, no-fluorescence) diamonds. Trading slow as Chinese buyers take vacation during the Lunar New Year. Dealers hoping strong festival jewelry sales will boost diamond demand at Hong Kong show (Feb. 27-Mar. 3). US stable. Rough market busy as cutters raise polished production. Alrosa Jan. sales $499M. Small miners see higher prices at rough tenders. Asian Star 3Q diamond sales +45% to $145M. Israel pledges $284M to guarantee industry bank loans. Israel 2017 polished exports -4% to $4.5B, rough imports -12% to $2.9B. The Rapaport Group wishes all our friends a happy and successful Year of the Dog.
| | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.47% | 5.27% | 6.46% | | 0.50 ct | 0.54% | 2.73% | -12.57% | | 1.00 ct | 0.03% | 1.72% | -1.37% | | 3.00 ct | -0.22% | -0.74% | 3.55% |  | | 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: Strong online jewelry promotions for Valentine’s Day... |  |  | Belgium: Rough market stable during Alrosa contract sale... | | |  | Israel: Traders buying less than they’ve sold, in order to reduce inventory and due to high replacement costs... | | |  | India: Steady activity as dealers prepare for Hong Kong show... | | |  | Hong Kong: Dealer trading slow with wholesale market shut for Chinese New Year... | | |  | | | The Rapaport Diamond Podcast |  | | WITH Rapaport News | Labrador-grown diamonds? The Year of the Dog is coming up, and we are unleashing insights about how the Chinese New Year will affect the trade in the Far East. Also, an interview with noted jewelry journalist Jennifer Heebner, who shares her experiences from the most recent US colored-gemstone shows. |  | | | WEEKLY NEWS | | industry | | | | Israel Gives $284M Boost to Diamond Trade | | Government will guarantee companies’ bank credit. |  | | | Jewelers Hit Back at Human Rights Watch | | Industry disappointed with reports that it’s subpar in ethical sourcing. | | | | | Nirav Modi Under Investigation for Bank Fraud | | Indian authorities probe billionaire jeweler’s dealings with Punjab National Bank, reports say. | | | | | DPA Ads Test Diamonds Under Olympic Pressure | | Video trilogy draws analogies between diamonds and winter-sport athletes. | | | | | retail | | | | GJEPC Predicts Strong Year for Jewelry | | Indian trade body lobbies government to cancel import-tax increase for diamonds. | | | | | Asian Star Sees Hike in Diamond Sales | | Third-quarter profit nearly trebles. | | | | | Alex and Ani Returns Sterling’s Volley | | Jeweler’s countersuit claims Signet division breached supply contract. | | | | | mining | | | | Alrosa Results Climb in January | | First sale of 2018 shows growth of 38% over last year. | | | | | De Beers Plans to Sell Namibia Mine | | Company looks for buyer as it moves toward marine projects in the country. | | | | | Gahcho Kué Prices Rise as Market Improves | | Mountain Province’s first tender of the year yields record sales. | | | | | Lucapa Sells Lulo Rough for $9M | | Miner discovers first diamonds at Mothae asset. | | | | | New CEO Takes Charge at Letšeng Mine | | Kelebone Leisanyane replaces Jeff Leaver. | | | | | general | | | | GIA Spots Moissanite Posing as Rough Diamond | | 9.71-carat stone was hard to detect as a fake. | | | | | WJA Names New International Board | | Organization selects Jenny Luker as 2018 president. | | | | | De Beers Is the New Kid on the Blockchain | | Miner is using the technology behind cryptocurrencies like Bitcoin to document diamonds in a digital register. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | The resignation of President Jacob Zuma raised investors’ confidence in South Africa-focused miners, with Petra Diamonds (+16%), Anglo American (+7.9%) and Rio Tinto (+10%) all gaining. The latter two also benefited from higher metal prices. North American retailers had a positive week: J.C. Penney (+2.4%) and Macy’s (+3.6%) both climbed, while Birks (+4.2%) recovered some ground after a 20% drop last week. Gitanjali Gems (-16.5%) trailed Indian stocks following reports associating the jeweler with a fraud investigation against Nirav Modi.
| | | | | 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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