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Rapaport TradeWire June 22, 2017
Jun 23, 2017 3:36 AM
By Rapaport
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June 22, 2017 | RAPAPORT MARKET COMMENT | | 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. | | RAPNET DIAMOND INDEX (RAPI™) | | | 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% | | 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: Market starting to experience summer slowdown ahead of July vacation period. Dealers cautious as midstream polished inventory levels rise and retailers limit their orders... | | | Belgium: Positive sentiment despite slow trading. Dealers optimistic for Chinese market ahead of Hong Kong Jewellery & Gem Fair... | | | 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... | | | India: Polished trading relatively quiet, with dealers hoping for a lift at the Hong Kong show. Manufacturing levels steady... | | | 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... | | | | WEEKLY NEWS | industry | | Rough Prices Firm at $530M De Beers Sight | Sightholders fear market imbalance as rough rises an estimated 2% to 3%. | | | Optimism for Hong Kong as Show Begins | Jewelry sales start to improve as tourists return. | | | Harry Winston Spends $5.5M on Historic Emerald | ‘Bring this magnificent gem home at any price,’ CEO orders ahead of Christie’s auction. | | | Surat Traders Strike over New Tax | GJEPC opposes industrial action over controversial GST system. | | | retail | | Cartier Releases New ‘The Proposal’ Films | Sequels to acclaimed 2015 commercial portray chance romantic encounters. | | | Millennials Prefer Offline Shopping | Survey shows more consumers research online before making purchases. | | | Swiss Watches Show Signs of Recovery | Timepiece export figures point to gradual improvement in demand. | | | mining | | Battle for Gemfields Heats Up | Pallinghurst Resources and China’s Fosun Gold in bidding to acquire gemstone miner. | | | World’s Largest Diamond Ship Sets Sail in Namibia | De Beers vessel will secure country’s production until 2035. | | | Wet Season Dampens Lulo Prices | Lucapa records sales of $950,000 from Angola mine. | | | Trans Hex Warns of Greater Losses | Impairment charges and lower sales expected to hamper South Africa-based miner. | | | general | | ‘Crown of Light’ Brand Hits $100M Milestone | Owner Almod Diamonds launched cutting operations 10 year ago. | | | Israel Bourse Starts Up Innovation Hub | Technology incubator will provide space and financial support to new companies. | | | India’s Polished Trade Improves in May | Polished exports rise 3.7%, while rough imports jump 22%. | | | Gemfields Sets $55M Auction Record | Ruby sale total is 24% above previous peak. | | | | FINANCE | Diamond Industry Stock Report | | 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. | | | 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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