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Rapaport TradeWire June 13, 2019
Jun 13, 2019 11:05 AM
By Rapaport
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| June 13, 2019 | | RAPAPORT MARKET COMMENT |  | | Disappointing Las Vegas shows failed to add value for diamond dealers. Jewelry wholesalers did better, reflecting steady US market. Diamantaires focused on showcasing tech rather than diamonds; innovations included improved traceability programs, online sales platforms and better inventory management. Brands pushing bridal as average engagement-ring price continues to decline. Small De Beers June sight expected as manufacturers reduce cutting operations. Alrosa May sales -8% to $266M. Chow Tai Fook FY sales +13% to $8.5B, profit +11% to $597M, but 2H growth flat amid trade war uncertainty. Industry mourns the passing of former GIA president Glenn Nord. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.50% | -3.54% | -16.27% | | 0.50 ct | 0.07% | -0.83% | -6.12% | | 1.00 ct | -0.14% | -0.70% | -3.98% | | 3.00 ct | -0.23% | -4.24% | -14.20% |  | | 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: Some optimism for second half of the year amid positive jewelry retail sentiment... |  |  | Belgium: Commercial-quality G-J, VS-SI diamonds selling better than collection goods (D-F, IF-VVS)... | | |  | Israel: Dealers at the JCK show were looking for buying opportunities but cautious about falling diamond prices... | | |  | India: Factories operating at reduced capacity, and some manufacturers slashing salaries of polished workers... | | |  | Hong Kong: Steady interest in 0.30 to 0.50 ct., F-I, VS-SI RapSpec A3+ diamonds, but excess supply still affecting prices... | | |  | | | Video: Can ‘Good’ Diamonds Sell at a Premium? |  | Participants in Rapaport’s town hall meeting on ethical supply believe there is huge demand for responsibly sourced diamonds, and consumers are willing to pay more for such assurances. |  | | | Was Vegas Worth the Gamble? |  | | WITH Avi Krawitz | Las Vegas 2019 will be remembered for its relatively cool weather, the hot US political climate and, at best, lukewarm market conditions. But there were other important themes that emerged. |  | | | WEEKLY NEWS | | industry | | | | Podcast: Key Insights from the JCK Show | | Rapaport's news team picks out its top themes and favorite moments from Las Vegas 2019. |  | | | The Drive to Lift the Artisanal Stigma | | The wider diamond world is engaging with the small-scale mining sector and taking steps to encourage better standards. | | | | | Authorities Probe Diamond Theft at Alrosa | | Russian authorities detain worker who attempted to steal more than $340,000 worth of stones. | | | | | Diamond Ring Fetches $31K/ct. at Sotheby’s | | 15-carat Marianne Ostier piece beats high estimate of $225,000 at New York sale. | | | | | retail | | | | Amazon Cuts Fees for Jewelry Sellers | | New tiered referral system will reduce cost of selling luxury pieces. | | | | | mining | | | | Struggling Stornoway Seeks Buyer for Renard | | Company has suffered three successive quarterly losses. | | | | | Alrosa’s Sales Slump in May | | Revenue from rough and polished diamonds dropped 8% during the month. | | | | | Promising New Kimberlite Found at Gahcho Kué | | Discovery of Wilson pipe sparks fresh exploration potential in the area. | | | | | general | | | | Former GIA President Glenn Nord Dies at 90 | | He pioneered the institute’s corporate training program and global outreach. | | | | | Cutters Join Sarine’s Diamond Journey | | Partners Program will enable buyers to source tracked stones from a broad selection of suppliers. | | | | | WJN Names 37 Ambassadors | | Rapaport Editor-in-Chief Sonia Esther Soltani will serve as a representative for Israel. | | | | | Diamond Ring Smashes Estimate at Christie’s | | Belle Époque piece sells for 10 times its presale valuation at London auction. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks rebounded this week, with Chow Tai Fook (+13%) gaining after reporting positive fiscal-year results. J.C. Penney (+3.9%) and Walmart (+4.2%) also saw shares rise. Signet (-3.8%) lost ground following a drop in first-quarter revenue. Mining companies also bounced back after a few difficult weeks: Petra Diamonds (+9%), Anglo American (+9%), Rio Tinto (+5%), Mountain Province (+4.5%) and Lucara Diamond (+4%) all increased. Shares in Firestone Diamonds (-11%) fell, while Stornoway Diamonds (-43%) plummeted following reports it was looking for a buyer. | | | | | 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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