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Rapaport TradeWire September 6, 2018
Sep 6, 2018 11:21 AM
By Rapaport
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| September 6, 2018 | | RAPAPORT MARKET COMMENT |  | | Diamond industry focused on important Hong Kong fair, hoping the recovery in Far East jewelry retail will continue amid trade tensions and weaker currencies. Dealer trading slow, with softer prices during summer slowdown as 1 ct. RAPI -0.5% in August. Rough demand cautious, with lower premiums on secondary market. Gem Diamonds 1H revenue +81% to $168M, profit of $24M vs. loss of $3M last year. Hong Kong 1H polished imports +4% to $9.7B, exports flat at $6.7B. Equity firm Epiris buys Bonhams auction house. Rapaport offices will be closed on Monday and Tuesday (September 10-11) due to Rosh Hashanah. Best wishes to all for a happy, healthy, prosperous and peaceful Jewish New Year. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.36% | -1.18% | 6.65% | | 0.50 ct | -0.18% | -0.62% | 2.19% | | 1.00 ct | -0.37% | -0.54% | 0.86% | | 3.00 ct | -0.49% | -0.12% | 0.60% |  | | 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: Major jewelers optimistic for fourth-quarter holiday season, with marketing focus on fashion diamond jewelry... |  |  | Belgium: Gap widening between buyers’ offers and suppliers’ asking prices... | | |  | Israel: Quiet expected in local market starting next week, from Jewish New Year through Sukkot festival, which ends October 1... | | |  | India: Drop in demand for small polished diamonds evident in rough market at De Beers sight... | | |  | Hong Kong: Business improving ahead of next week’s show... | | |  | | | Brexit Concerns Weigh on UK Jewelers |  | | WITH Joshua Freedman | The weak pound and uncertainty over the UK’s departure from the European Union are making it hard for British jewelers to plan their business activities, dealers reported at this week’s International Jewellery London. |  | | | WEEKLY NEWS | | industry | | | | Diamond Prices Soften Ahead of Hong Kong Fair | | 1-carat RAPI down 0.5% in August. |  | | | India’s Union Bank Leaves Antwerp | | Diamond division did not generate expected business, says CEO. | | | | | Auctioneer Bonhams Finds New Owner | | Private-equity firm Epiris acquires company for undisclosed amount. | | | | | Trustee to Sell Off Modi’s US Assets | | Items include trademark “Diamonds Are a Girl’s Best Friend.” | | | | | Hong Kong Polished Imports Rise in First Half | | Inbound shipments grow 4% during January-to-June period. | | | | | retail | | | | Signet Open to Lab-Grown Diamonds | | CEO Gina Drosos sees potential in synthetics for fashion jewelry. | | | | | Pandora Takes Top Spot for Responsible Sourcing | | Morgan Stanley rating places jeweler ahead of Kering, LVMH and Richemont. | | | | | India to Surpass US in 2018 Jewelry Sales | | Key market has grown 74% in the past five years, researchers claim. | | | | | mining | | | | Large Stones Prove Profitable for Gem Diamonds | | Sale of 910-carat Lesotho Legend boosts miner’s first-half earnings. | | | | | Stornoway Completes Renard Underground Mine | | Ore removal now above plan after slow transition through second quarter. | | | | | POZ Minerals to Bid for Ellendale | | Newcomer looks to create niche operation for yellow diamonds. | | | | | Diamcor Loss Deepens in First Quarter | | Lower revenue and average price hit miner’s figures. | | | | | general | | | | 11ct. Purple to Lead Alrosa Hong Kong Sale | | Miner will present collection of colored stones at upcoming jewelry show. | | | | | UK Jewelry Body Eyes Role as Trade Police | | National Association of Jewellers aims to obtain enhanced status as “primary authority.” | | | | | Rare Pink Diamond to Go Under the Hammer | | Bonhams sale will also include tiara belonging to Churchill family. | | | | | Firm Launches Japan’s First Synthetics Production | | Pure Diamond eyes annual output of 24,000 carats. | | | | | Alrosa, NCDIA Asia Host Colored-Diamond Seminar | | Rapaport’s Avi Krawitz will moderate the event. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Signet (+14%) and Gem Diamonds (+7%) climbed after reporting strong half-year results. European stocks tumbled due to renewed trade concerns, with Kering (-10%), LVMH (-9%), Swatch Group (-9%) and Richemont (-6%) all falling. Canada-based Birks Group (-13%) and Mountain Province (-6%) also dropped after President Donald Trump threatened to cut the US’s neighbor from NAFTA. | | | | | 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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