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Rapaport TradeWire September 28, 2017
Oct 1, 2017 4:44 AM
By Rapaport
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| September 28, 2017 | | RAPAPORT MARKET COMMENT |  | | Hong Kong show sales reasonably good but at lower prices. Dealers now focused on filling US holiday orders. Jewelers hoping lower gold price ($1,279/oz) will boost jewelry sales during China’s Oct. 1 National Day holiday and India’s wedding season. Rough prices weaker. Graff buys 1,109 ct. Lesedi La Rona rough for $53M ($47,777/ct.). Exelco seeks Chapter 11 bankruptcy protection with liabilities of $50M to $100M. China 2Q net polished imports +15% to $1.5B. Roger Farah to replace Michael Kowalski as Tiffany chairman. The Rapaport Price List will not be published on Oct. 6 and 13 due to the Jewish holiday of Succot. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -1.00% | -1.69% | -0.85% | | 0.50 ct | -0.66% | -1.63% | -20.29% | | 1.00 ct | 0.12% | -0.12% | -6.99% | | 3.00 ct | 0.19% | 2.42% | 6.15% |  | | 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: New York trade improving, but market relatively quiet over Jewish New Year and Succot holiday... |  |  | Belgium: Liquidity improved following Hong Kong show. Steady demand for top-make, RapSpec A2+ stones... | | |  | Israel: Suppliers liquidating old stock and maintaining stable prices for in-demand new supply... | | |  | India: Suppliers holding large polished inventories are reducing prices on old stock that’s difficult to move... | | |  | Hong Kong: Stable market following September show. Buyers buying at lower price levels for holiday season... | | |  | | | WEEKLY NEWS | | industry | | | | Graff Buys Iconic 1,109ct. Diamond for $53M | | Lesedi La Rona’s price tag is far off the $70M Lucara originally wanted. |  | | | Christie’s to Auction 163ct. D-Flawless Diamond | | Stone originated from 404-carat rough from Angola’s Lulo mine. | | | | | De Beers Pledges to Empower Women | | Miner aims to achieve ‘parity’ in appointment of women and men into senior leadership roles by 2020. | | | | | China Sees Jump in Diamond Imports | | Inbound polished trade up 7% in the first half. | | | | | Graff Diamonds Buys Top Bonhams Lot | | 4.03-carat, fancy-intense blue diamond goes for $3.6 million. | | | | | retail | | | | Tiffany Names Ex-Ralph Lauren Exec Chairman | | Roger Farah has more than 40 years’ experience in retail and lifestyle products. | | | | | Frederick Goldman Moves to New Jersey | | Jewelry manufacturer received up to $20 million in tax credits. | | | | | mining | | | | Alrosa Expects Big Pay Day from Pink Diamond | | Stone will be most expensive in miner’s history, if the company decides to cut and polish it. | | | | | Petra to Resume Sales from Williamson Mine | | Tanzanian government permits company to export to Antwerp marketing office. | | | | | Miners Could Start Hunting for Young Diamonds | | Discovery of stones a mere 1.1 billion years old could mean companies have more places to go exploring. | | | | | Alrosa Names Head of Africa Projects | | Vladimir Marchenko joins miner as vice president. | | | | | general | | | | Jewelry Overtakes Cars as Investment Prospect | | Pearls still in pole position, but appetite for modern jewels has gained traction. | | | | | VicenzaOro Signals Rise in Italian Jewelry Exports | | Trading up 13% in first half. | | | | | High End Boosts Swiss Watch Exports | | Shipments to Hong Kong and China rise; top categories recover. | | | | | Colored-Diamond Group Expands into Asia | | Natural Color Diamond Association partners with Bangkok-based gem institute. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Petra Diamonds (-9.1%) saw its stock slump over the past two weeks amid strikes at some of its South African operations. Its share price recovered slightly after the Tanzanian government decided to let the company export diamonds from its Williamson mine. Lucara Diamond (-1.6%) slipped during the 14-day period despite a boost when it sold the 1,109-carat Lesedi La Rona for $53 million. Goldman Sachs’s downgrading of Tiffany & Co. (-5.9%) hit the jeweler’s share price. | | | | | 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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