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Rapaport TradeWire March 21, 2019
Mar 21, 2019 3:42 AM
By Rapaport
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| March 21, 2019 | | RAPAPORT MARKET COMMENT |  | | Low expectations for Basel show amid weak large-stone demand and fewer diamond, jewelry and watch exhibitors. US stable, with good orders for commercial-quality 0.70 to 1.99 ct., G-J, SI-I2 diamonds. Shortages developing for better qualities as India cuts back production. Rough market quiet, with deep concerns about manufacturing profitability. Alrosa 2018 revenue +9% to $4.6B, profit +15% to $1.4B. De Beers launches $2B Jwaneng mine expansion. India Feb. polished exports -4% to $2.3B, rough imports -18% to $1.4B. CIBJO specifies need to disclose treatments for both natural and lab-grown diamonds and gemstones. Fugitive jeweler Nirav Modi arrested in London. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -1.78% | -1.99% | -10.98% | | 0.50 ct | 0.38% | 0.35% | -2.68% | | 1.00 ct | 0.02% | 0.34% | -2.53% | | 3.00 ct | -1.07% | -1.72% | -7.88% |  | | 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 selling old stock, with few new goods coming onto the market, as manufacturing has declined... |  |  | Belgium: Rough activity down following last week’s Alrosa sale... | | |  | Israel: Many dealers attending Baselworld as visitors rather than exhibitors, hoping to do business on the sidelines of the show... | | |  | India: Foreign buyers looking for bargains and pushing for deeper discounts on diamonds below 0.50 carats... | | |  | Hong Kong: Good market for pointer sizes at reduced prices... | | |  | | | Tiffany Provides Glimpse into Future Store Design |  | | WITH Joshua Freedman | The brand’s innovative “style studio” in London may be a preview of what to expect on Fifth Avenue. |  | | | WEEKLY NEWS | | industry | | | | Nirav Modi Arrested in London | | Police detain the jeweler on behalf of Indian authorities. |  | | | Trade Braces for Smaller, Cheaper Baselworld | | Show reduces prices by 10% to 15% for diamond exhibitors. | | | | | CIBJO Calls for Synthetics Treatment Disclosure | | Transparency rules apply to both natural and lab-grown diamonds, organization says. | | | | | Brexit Stockpiling Boosts Swiss Watch Growth | | UK accounts for 80% of worldwide increase in February. | | | | | mining | | | | Alrosa Profit, Revenue Rise in 2018 | | Sales of higher-quality rough drive increase. | | | | | De Beers Extends Jwaneng Mine Life | | Cut-9 expansion will enable the site to produce diamonds through 2035. | | | | | Alrosa’s Mir Site Could Reopen in 2030 | | Miner suspended activity in 2017 after a flood killed eight workers. | | | | | Diamond Fields Pink Sells for $17K/ct. | | Tender is company’s first since resuming offshore mining in Namibia last year. | | | | | general | | | | AIGS Launches App to Prevent Counterfeiting | | Product will deliver warning when used to scan a fake report. | | | | | India’s Polished Exports Fall in February | | Figure down 4% year on year. | | | | | Angola to Hold Rough Tender in Israel | | Ramat Gan bourse sees opportunities to strengthen ties between two countries. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail shares had a mixed week. Birks Group (+14%) led the sector, whereas J.C. Penney (-8%) fell after strong gains in the past month. Continued hopes of a US-China trade deal supported Hong Kong stocks, with Chow Tai Fook (+3.2%) and Luk Fook (+2.3%) both improving. Petra Diamonds (-4.4%) declined after Goldman Sachs reportedly lowered its forecast for the stock’s future price performance. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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