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Rapaport TradeWire May 4, 2017
May 5, 2017 12:31 AM
By Rapaport
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May 4, 2017 | RAPAPORT MARKET COMMENT | | Diamond trading slow due to holidays in Hong Kong, Israel and India. Suppliers holding prices firm for new polished production they hope to sell at the Las Vegas shows, but are willing to reduce prices on leftover old stock. April RAPI for 0.30 ct. +0.8%, 1 ct. -0.3%. Rising concern that strong rough demand and prices getting ahead of polished. Lucara 1Q sales -48% to $26M, loss of 1.5M vs. profit of $17.1M a year earlier. Hong Kong 1Q polished imports +11% to $4.7B, polished exports +6% to $3.4B. India March polished exports +2% to $1.9B, rough imports +15% to $1.6B. Signet announces retirement of Clark McEwen, VP of diamond sourcing, and Stuart Lee, chief merchandising officer. | | RAPNET DIAMOND INDEX (RAPI™) | | | Weekly | Monthly | Y2Y | 0.30 ct | 0.12% | 0.69% | 1.07% | 0.50 ct | -0.40% | -1.26% | -11.58% | 1.00 ct | 0.14% | -0.26% | -7.67% | 3.00 ct | 0.56% | 0.45% | -1.26% | | 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: Steady polished trading. New York dealers struggling to compete with Indian suppliers who are selling lower qualities at competitive prices... | | | Belgium: Sentiment mixed, with positive feedback from dealers with the right goods. Shortage of nice-make (RapSpecA2+), 1 ct., G-H, VS1-SI2 and good demand for 0.50 ct., G, SI diamonds... | | | Israel: Quiet trading during shortened business week due to Memorial Day and Independence Day holidays. Sentiment weaker than a month ago as inter-dealer trading in the bourse has slowed... | | | India: Trading relatively quiet, with dealers sporadically taking vacation throughout the May school holiday period. Large factories operating at full capacity and gaining market share... | | | Hong Kong: Polished trading slow with many businesses closed for May 1 Labour Day holiday. Positive sentiment amid reports of improving jewelry retail sales in Hong Kong and China... | | | | RAPAPORT PRESS RELEASE | Cautious Polished Lags Behind Strong Rough Market | Diamond trading slowed in April, marking the start of the traditionally quieter second quarter. Sentiment was positive despite lower trading volumes, due to improving retail expectations in China, where the jewelry market is showing signs of recovery. | | | WEEKLY NEWS | industry | | GIA Spots Natural Diamond with CVD Blue Layer | Rare combination of diamond characteristics alerts gemologists to a natural-synthetic hybrid. | | | S&P: Botswana Vulnerable to Weak Diamond Market | Lower production at Debswana has impacted the country's economic growth. | | | IIDGR to Roll Out Synthetics-Detection Course | The two-day course aims to demonstrate how to distinguish lab-grown from natural diamonds. | | | retail | | Two Industry Veterans to Leave Signet | Stuart Lee and Clark McEwen will retire after decades in the industry. | | | Kering Sees Robust 1Q Luxury, Jewelry Sales | Gucci brand drives growth while jewelers Boucheron and Pomellato also enjoy a strong quarter. | | | China Gives Swiss Watchmakers Timely Relief | The Swiss watch industry enjoyed its first month of growth in nearly two years. | | | Apple Wearables on Par with Fortune 500 | Apple Watch sales almost doubled in the last fiscal quarter. | | | mining | | Letšeng Yields High-Quality 80ct. Diamond | Gem Diamonds unearths an “entirely undamaged” large stone. | | | Drop in Large Diamonds Impacts Lucara Sales | The miner's rough sales fell as production at the Karowe mine shifted to lower-grade stockpiles. | | | Stellar Deal Combines Sierra Leone Mines | The asset is projected to recover 200,000 carats a year at an estimated $229 per carat. | | | general | | Organizers Optimistic Ahead of Carat+ Opening | In contrast to other jewelry shows, organizers of Carat+ are aiming to bring diamonds to the forefront. | | | Private Equity Firm Buys Out Breitling | CVC Capital Partners takes an 80% stake in the watch brand known for its position in the aviation market. | | | | FINANCE | Diamond Industry Stock Report | | Diamond jewelry stocks fell this past week, reflecting a slight drop in the Dow Jones Industrial Average. Birks Group (-4.9%) led the declines in the US retail space, with mining stocks also generally negative. European luxury stocks gained, headed by Damiani (+5%). | | | Contact Us | | | © Copyright 2017 Martin Rapaport. All Rights Reserved. | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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