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Rapaport TradeWire September 7, 2017
Sep 7, 2017 12:13 PM
By Rapaport
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| September 7, 2017 | | RAPAPORT MARKET COMMENT |  | | Trade focused on important Hong Kong show starting next week as Far East retail shows signs of recovery. Polished market facing financial difficulties in India and weak demand as Aug. 1 ct. RAPI -0.6%, 0.30 ct. -1.4%, 0.50 ct. -2.3%, 3 ct. +0.3%. Rough slow, with low premiums on secondary market. De Beers sells $505M at Aug. sight after early Diwali brought demand forward to July. Alrosa 1H revenue -17% to $2.7B, profit -46% to $848M due to strong ruble and weaker product mix. Dominion 2Q sales +50% to $240M, profit of $31M vs. loss of $38M a year earlier. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.28% | -1.18% | 0.73% | | 0.50 ct | -0.48% | -1.96% | -19.25% | | 1.00 ct | -0.19% | -0.29% | -7.01% | | 3.00 ct | 1.09% | 2.66% | 4.51% |  | | 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 sentiment improving, with better demand for 3 ct. and larger diamonds... |  |  | Belgium: Good demand for 0.30 to 0.40 ct., F-H, SI, triple Ex, no fluorescence... | | |  | Israel: Market uncertain amid fears a sluggish Hong Kong show could result in reduced polished demand... | | |  | India: Manufacturers reducing polished production to below capacity in response to oversupply and weak demand... | | |  | Hong Kong: Jewelers looking to increase inventory levels at show ahead of holidays but seeking discounts... | | |  | | | WEEKLY NEWS | | industry | | | | Diamond Prices Slide in August | | Liquidity and profitability tighten, but suppliers optimistic trading will improve ahead of holidays. |  | | | De Beers August Sales Fall to $505M | | Rough buyers bring demand forward to July due to early Diwali. | | | | | Retraction: InterJewel | | An article published on diamonds.net and the NewsBrief contained a number of inaccuracies. | | | | | Sarine to Bar Patent-Violators’ US Shipments | | Company informs trade groups it will block imports of diamonds produced through illegal use of its technology. | | | | | retail | | | | De Beers: Making the Grade | | IIDGR president Jonathan Kendall reports progress tapping the Asian retail sector. | | | | | Most Retailers Won’t Sell Synthetics Anytime Soon | | DPA survey finds trade still skeptical of lab-grown diamonds. | | | | | mining | | | | Stronger Ruble Dents Alrosa Results | | Revenue falls 17%, profit down 46% in first half. | | | | | Gemfields Moves Sales Division to London | | US marketing chief Sally Morrison to leave as miner makes role redundant. | | | | | Small-Stone Demand Boosts Dominion Sales | | Revenue up 50% to $239.8 million in second fiscal quarter. | | | | | Trans Hex to Halt Baken Mine Operations | | South Africa deposit’s losses and low production ‘unsustainable,’ company says. | | | | | Alrosa Chief Joins DPA Board | | Sergey Ivanov will sit alongside CEOs and senior executives of mining companies. | | | | | general | | | | Rapaport Magazine Delves into Asia | | The September issue focuses on opportunities in the Far East. | | | | | Sotheby’s to Sell Cartier Bracelet in Hong Kong | | Auctioneer expects piece to fetch up to $1.8M. | | | | | UK Show Upbeat Despite Brexit Fears | | Exhibitor numbers at International Jewellery London up around 20% from last year. | | | | | Sotheby’s Falls for Autumn-Themed Jewels | | London September auction to feature nature-inspired designs. | | | | | India Opens Diamond-Futures Exchange | | ICEX platform will feature IIDGR-graded stones. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks had a strong week, with Tiffany (+6.8%) among the biggest improvers. Chow Tai Fook (+8.3%) led Far East stocks, while Gitanjali Gems (+22%) was the best performer in India. Mining stocks were shaky, with Lucara Diamond (-9.1%) heading the declines. | | | | | 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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