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Rapaport TradeWire August 2, 2018
Aug 2, 2018 11:16 AM
By Rapaport
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| August 2, 2018 | | RAPAPORT MARKET COMMENT |  | | TRADE ALERT: New US Federal Trade Commission guidelines still require full disclosure for lab-grown diamonds. While the FTC expanded the definition of the word “diamond” to include synthetics, it continues to restrict the use of the word “diamonds” to natural diamonds unless it is immediately preceded by a phrase that clearly discloses the product is not a mined diamond. News: Trading centers quiet, with Antwerp and Israel shutting for summer vacation. Polished prices soften in seasonal slowdown, with 1 ct. RAPI -0.4% in July. Rough premiums cool to 4% after $530M De Beers sight. Rio Tinto 1H diamond sales -5% to $323M. Swatch Group pulls out of Baselworld 2019. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.64% | -1.19% | 6.20% | | 0.50 ct | -0.08% | -0.33% | -0.22% | | 1.00 ct | -0.04% | -0.37% | 0.84% | | 3.00 ct | -1.54% | -1.21% | 0.96% |  | | 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: New York JA and Antique shows didn’t attract much attention... |  |  | Belgium: Very little activity, with most diamantaires on summer vacation... | | |  | Israel: Concern about synthetics fraud after bourse member suspended for diamond swapping... | | |  | India: Buyers from China, Belgium, Israel and US in Mumbai looking for goods... | | |  | Hong Kong: Buyers cautious due to yuan depreciation, waiting for September Hong Kong show to assess prices... | | |  | | | Watch Out, JCK: Swatch Just Left Baselworld |  | | WITH Avi Krawitz | Swatch’s decision to pull out of Baselworld touched a nerve with diamantaires, who have long complained about the high cost of exhibiting and the lack of engagement with the show’s organizers. It’s not a problem unique to Baselworld — diamond and jewelry companies are questioning their participation in all trade shows. |  | | | A Defining Moment for Lab-Grown Diamonds |  | | WITH Joshua Freedman | The Federal Trade Commission’s new definition of a diamond has considerable symbolic importance, even if disclosure requirements remain largely the same. | | | | | WEEKLY NEWS | | industry | | | | RAPAPORT TRADE ALERT – July 27, 2018 | | New US Federal Trade Commission guidelines still require full disclosure for synthetic diamonds. |  | | | Industry Hopes to Appeal FTC Rulings | | New directives not in line with current industry terminology, says WFDB. | | | | | Diamond Trading Slows in Seasonal Lull | | Polished prices soften in July but remain in positive territory for 2018. | | | | | Swatch Group Calls Time on Baselworld | | Annual watch fairs no longer make sense, says Omega owner. | | | | | Diamonds Still Linked to Conflict – Civil Society | | Kimberley Process and trade not advancing responsible sourcing, say NGOs. | | | | | retail | | | | Kering Jewelry Growth Solid in 1H | | Watch demand continues to improve, says owner of Girard-Perregaux and Boucheron. | | | | | Greater China Luxury Continues to Grow | | Favorable consumer sentiment and strong Hong Kong tourism fuel rise. | | | | | mining | | | | De Beers Sales Drop at Sixth Cycle | | Miner notes seasonal slowdown in demand. | | | | | Rio Tinto Diamond Revenue Declines | | Sales down 5% in first half. | | | | | Lucapa’s New Resource Yields Large Stones | | Tests of unexplored Mothae zones have shown positive results. | | | | | Letšeng Produces 101ct. Rough | | Gem Diamonds has found 11 stones over 100 carats this year. | | | | | De Beers to Shut Voorspoed Mine | | Decision follows long search for buyer. | | | | | Looters Ransack Gemfields’ Ethiopia Operation | | Thieves steal emeralds and equipment from sorting house. | | | | | Botswana’s Rough Exports Drop in 1H | | Shipments of Debswana goods down 2.5%. | | | | | general | | | | GIA Reveals Why Diamonds Are Blue | | Boron in floors of ancient oceans may be behind the color. | | | | | New Jewelry Show Comes to NY | | Weeklong event in November will feature exhibitions, lectures and workshops. | | | | | NCDIA Opens Bangkok Office | | Colored-diamond group will host educational events at new location. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global equities fell this week amid heightened trade concerns and disappointing Chinese manufacturing data. Macy’s (-6%) headed the declines among US retailers, with Signet (-3%) and Tiffany (-2.5%) also down. The tariff war hit Hong Kong jewelers Chow Tai Fook (-15%), Chow Sang Sang (-6%) and Luk Fook (-2.5%), while Kering (-8%) was the weakest out of European luxury stocks. Mountain Province (-9%) and Rio Tinto (-6%) slid during a negative week for mining shares. | | | | | 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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