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Rapaport TradeWire April 27, 2017
Apr 28, 2017 1:04 AM
By Rapaport
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| April 27, 2017 | | RAPAPORT MARKET COMMENT |
 | Diamond trading quiet but sentiment positive due to improving retail expectations ahead of Mother’s Day, China’s May 1 holiday and India’s Akshaya Tritiya festival. U.S. demand cautious as dealers wait for JCK Las Vegas show. Consolidations continue as JBT reports 318 jewelers closed in 1Q, 16% fewer than last year. Sotheby’s NY sells $28.9M (85% by lot) with pair of emerald, 20.29 & 20.02 ct., D, IF diamonds selling for $5.3M ($131,481/ct.). Christie’s NY sells $35.2M with rectangular, 22.03 ct., D, IF Van Cleef & Arpels diamond ring fetching $2.6M. De Beers 1Q sales volume +74% to 14.1M cts., production +8% to 7.4M cts. Industry mourns the passing of Lloyd Jaffe. |
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| RAPNET DIAMOND INDEX (RAPI™) | |
| | Weekly | Monthly | Y2Y |
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| 0.30 ct | 0.02% | 3.80% | 0.75% | | 0.50 ct | -0.30% | -2.11% | -11.31% | | 1.00 ct | -0.20% | -0.62% | -7.75% | | 3.00 ct | -0.42% | 0.43% | -1.79% |
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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. |
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| Market Reports | |
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United States: Polished trading stable and prices steady. Dealers preparing for Las Vegas shows… |
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Belgium: Positive sentiment despite slow trading. Suppliers holding steady prices. Demand weakening for 0.30 to 0.40 ct. goods due to price increases… | |
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Israel: Market returned to normal following the Passover break. Very few foreign buyers in the bourse, raising concerns that brokers are stuck with too many goods… | |
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India: Polished trading relatively quiet with many dealers taking off during the school vacation period. Good demand for commercial-quality VS-SI goods... | |
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Hong Kong: Dealer and wholesale markets disrupted by holiday period leading up to next week’s May 1 Labour Day festival… | |
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| WEEKLY NEWS | |
industry | |
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| FCRF: Supply Shortages Lift Blue Diamond Prices | |
Blue diamonds outperformed the rest of the fancy-color
market in the first quarter, as high demand for the rare stones… |
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| US Jewelry Stores Closing at Slower Rate | | The shrinking of the US jewelry industry slowed in the first
quarter, as the number of shops shutting their doors… | |
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retail | |
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| Jewelry to Drive US Mother’s Day Spending | | US consumers are expected to spend more on jewelry than on any other product category this Mother’s Day, according… | |
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| Chow Tai Fook Targets Tourists with Hawaii Launch | |
Chow Tai Fook will open a store in Hawaii through a
partnership with travel retailer DFS Group, a subsidiary of… | |
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| India Welcomes Its First Pandora Store | | Danish jeweler Pandora officially opened its first store in India last week, aiming to tap “one of the largest… | |
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mining | |
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| Petra Diamonds Sees Steady Rough Demand | | Petra Diamonds’ sales slipped 1% in the third fiscal quarter
amid a stable rough market, the miner reported.
The company’s sales… | |
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| Gahcho Kué Prices Lower than Expected | |
Mountain Province’s share of production from the new Gahcho
Kué diamond mine in Canada amounted to 424,830 carats in the… | |
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| Firestone Upbeat on Early Liqhobong Results | |
Firestone Diamonds continues to yield large special stones at its Liqhobong mine in Lesotho and expects to complete the… | |
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general | |
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| Carat+ Promises Glitzy Reception for Diamond Trade | | Close to 130 exhibitors from around the world will gather in Antwerp next month for the Carat+ diamond trade… | |
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| Lloyd Jaffe, ‘Voice of the Industry,’ Dies at 90 | | Lloyd Jaffe, a long-serving leader of the US diamond industry, passed away late last week at age 90. … | |
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FINANCE | | Diamond Industry Stock Report | |
| Diamond and jewelry stocks were lifted by overall markets as the Dow Jones Industrial Average gained 2.8% in the past week. European luxury outperformed other sectors, led by Kering (+13.4%), which hit an all-time high after reporting record performance in the first quarter. US jewelers had a positive week, with rising expectations for jewelry sales over Mother’s Day. Alrosa was the strongest of the mining companies (+9.9%) on reports of continued strength in the rough market.
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 | | © Copyright 2017 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. |
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