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Rapaport TradeWire
June 22, 2017
RAPAPORT MARKET COMMENT
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Rough market cools slightly as De Beers raises prices an average 2% to 3% at $530M June sight. De Beers limiting supply to support prices and align with sluggish polished sales. Hong Kong show begins with rising expectations for Chinese demand, after Las Vegas demonstrated cautious and changing US market. Declining mall traffic and popularity of custom-made bespoke jewelry impacting jewelers’ inventory needs. Christie’s NY Magnificent Jewels auction fetches $26.1M (83% by lot), with Harry Winston buying 18.04 ct. “Rockefeller Emerald” ring for $5.5M ($305,516/ct.). Swiss watch May exports +9% to $1.7B. India May polished exports +4% to $2.1B, rough imports +22% to $1.9B.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.44% -1.00% 2.63%
0.50 ct -0.61% -2.16% -13.39%
1.00 ct 0.12% -0.24% -7.54%
3.00 ct -1.06% -1.13% 0.66%
RAPI Yearly Graph
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Market Reports
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United States: Market starting to experience summer slowdown ahead of July vacation period. Dealers cautious as midstream polished inventory levels rise and retailers limit their orders...
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Belgium: Positive sentiment despite slow trading. Dealers optimistic for Chinese market ahead of Hong Kong Jewellery & Gem Fair...
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Israel: Market quiet, with many dealers attending the Hong Kong show. Suppliers shifted focus to Far East after Las Vegas show failed to boost trading activity...
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India: Polished trading relatively quiet, with dealers hoping for a lift at the Hong Kong show. Manufacturing levels steady...
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Hong Kong: Wholesale trading slow but expected to improve during this weekend’s show. Steady Chinese demand for 0.30 to 1 ct., E-G, VS-SI, RapSpec A2+ diamonds...
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UPS AND DOWNS
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900-Year-Old Jewelry Found in Crusader Castle
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Fabergé Brooch to Make History on BBC Antiques Show
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Italy Police Seize Bank Documents in Diamond Probe
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Retailers’ Focus on In-Store Experiences Not Working
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Amazon’s ‘Prime Wardrobe’ Makes Retail Stores Redundant
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Tradewire July Ss Il
WEEKLY NEWS
industry
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Rough Prices Firm at $530M De Beers Sight
Sightholders fear market imbalance as rough rises an estimated 2% to 3%.
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Optimism for Hong Kong as Show Begins
Jewelry sales start to improve as tourists return.
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Harry Winston Spends $5.5M on Historic Emerald
‘Bring this magnificent gem home at any price,’ CEO orders ahead of Christie’s auction.
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Surat Traders Strike over New Tax
GJEPC opposes industrial action over controversial GST system.
retail
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Cartier Releases New ‘The Proposal’ Films
Sequels to acclaimed 2015 commercial portray chance romantic encounters.
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Millennials Prefer Offline Shopping
Survey shows more consumers research online before making purchases.
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Swiss Watches Show Signs of Recovery
Timepiece export figures point to gradual improvement in demand.
mining
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Battle for Gemfields Heats Up
Pallinghurst Resources and China’s Fosun Gold in bidding to acquire gemstone miner.
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World’s Largest Diamond Ship Sets Sail in Namibia
De Beers vessel will secure country’s production until 2035.
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Wet Season Dampens Lulo Prices
Lucapa records sales of $950,000 from Angola mine.
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Trans Hex Warns of Greater Losses
Impairment charges and lower sales expected to hamper South Africa-based miner.
general
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‘Crown of Light’ Brand Hits $100M Milestone
Owner Almod Diamonds launched cutting operations 10 year ago.
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Israel Bourse Starts Up Innovation Hub
Technology incubator will provide space and financial support to new companies.
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India’s Polished Trade Improves in May
Polished exports rise 3.7%, while rough imports jump 22%.
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Gemfields Sets $55M Auction Record
Ruby sale total is 24% above previous peak.
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FINANCE
Diamond Industry Stock Report
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US retail stocks slid this week as Amazon’s takeover of Whole Foods injected panic into the brick-and-mortar sector. JCPenney (-12%), Signet (-6.3%) and Birks Group (-6.2%) suffered the steepest declines. European luxury stocks weathered the economic and political uncertainty, with Kering (+3.9%) leading the pack. Meanwhile, a bidding war to acquire Gemfields (-3.1%) failed to lift the miner’s share price as Pallinghurst Resources seemed to emerge as the front-runner at press time with its zero-premium offer.

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