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Date:

Rapaport TradeWire
August 17, 2017
RAPAPORT MARKET COMMENT
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Diamond trading slow ahead of Belgium and Israel dealers’ return from vacation next week (August 21). Focus shifting to China, with rising expectations for September Hong Kong Show. Improving Chinese demand for branded, ethically sourced products as Chow Tai Fook launches traceable T Mark collection. US demand steady, with jewelers avoiding unnecessary inventory and taking goods on memo. Rough market cooling. Stornoway Diamond 2Q profit -60% to $1.8M from revenue of $33M. Alrosa July rough sales subdued at $286M, maintains 39M ct. production plan after Mir mine flood. Birks Group sells Mayor’s Jewelers to Aurum Holdings for $105M. Authentic Brands Group buys stake in Neil Lane. 

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.31% -1.51% 1.66%
0.50 ct -0.42% -2.64% -18.25%
1.00 ct -0.15% -0.70% -6.82%
3.00 ct 0.01% -0.27% 3.02%
RAPI Yearly Graph
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Market Reports
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United States: Suppliers with excess stock of lower-quality SIs trying to stimulate buyer interest with lower prices. Bridal demand driving jewelry sales...
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Belgium: Dealers concerned about tight profit margins and limited bank credit...
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Israel: Very little activity, with the Israel Diamond Exchange closed for summer vacation until August 20...
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India: Steady manufacturing continues to raise polished inventories. Rough demand softening...
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Hong Kong: Steady Chinese bridal demand, with fashion diamond jewelry gaining popularity...
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Tradewire August Ss Il
Press Release
Rapaport Appoints Sonia Esther Soltani Editor
Ms Soltani will be responsible for all content creation and distribution through print and digital channels.
UPS AND DOWNS
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Rapaport Launches Sharper, Redesigned Magazine
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Woman Finds Long-Lost Ring on Carrot
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Cooperatives to Explore Diamonds Across Angola
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How to Make a Statement with Minimalist Jewelry
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Retail Stocks Will Be Difficult This Year
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India Bans Gold Exports Above 22 Karats
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WEEKLY NEWS
industry
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DPA: US Women Seek Long-Term Value in Diamonds
Millennial consumers are defining luxury beyond price, as they look for authentic experiences and products.
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Four Major Changes in 25 Years of Hari Krishna
The polished manufacturer has grown from minnow to $1B giant in its two-and-a-half decades.
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Branding Firm Buys Controlling Share in Neil Lane
Authentic Brands Group plans to expand the jeweler’s designs into the home, travel and fashion sectors.
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Shenzhen Rough Exchange Chooses Chairman
Members elect CEO Wang Ning to lead bourse’s first governing council.
retail
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Birks Sells Mayor’s to UK Group for $105M
Jeweler to use proceeds of sale to expand Canadian network and strengthen its balance sheet.
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US Engagement-Ring Spending Flat at $3.4K
Second-quarter outlay barely changed from first quarter.
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Chow Tai Fook Unveils Traceable Diamond Brand
Inscribed T Mark collection will be available in some 200 stores in Hong Kong, Macau and China.
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Macy’s Jewelry Upgrade Lifts Sales
The division’s double-digit revenue growth follows a decision to sell better-quality products.
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Garrard Launches First Shanghai Store
UK retailer creates exclusive diamond-jewelry pieces for new boutique.
mining
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Alrosa Output Unaffected by Mine Flood
Mir asset accounts for approximately 11% of the company’s total production.
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Gem Diamonds Mulls Ghaghoo Sale
Revenue slides 15% to $92.9 million in first half.
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Alrosa Sees Summer Drop in Rough Demand
Market slows as vacation period sets in.
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Beny Steinmetz Detained in Fraud Probe
Diamond mogul was previously held in connection with Guinea mining case and released to house arrest.
general
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Rare Tourmalines Win Top AGTA Award
Mikola Kukharuk takes Best of Show accolade for blue stones weighing 53.56 carats.
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Diamond Foundry Opens Synthetics Store
LA location will feature company’s Vrai & Oro jewelry brand with only lab-grown stones.
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FINANCE
Diamond Industry Stock Report
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JCPenney (-30%) recorded the steepest decline out of US retail stocks as the department-store chain reported disappointing results. Birks Group (+21.5%) bucked the wider trend after it announced the sale of Mayor’s Jewelers. Gitanjali Gems (+10%) gained from strong financial results, with Indian industry stocks generally improving this past week. Mining stocks were mixed.

Rapnet Trade Wire
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