Advanced Search

Rapaport TradeWire February 22, 2018

Mar 5, 2018 9:59 AM   By Rapaport
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
14 Dec 2017 Igi Trade Wire Top Banner
Rapaport TradeWire
February 22, 2018

High expectations for next week’s Hong Kong show as dealers maintain firm prices for RapSpec A2+ diamonds, and jewelry sales improve during Chinese New Year. Indian market cautious, with banks expected to tighten lending amid $1.8B fraud claim against Nirav Modi and Gitanjali. Rough trading steady as cutters increase production to fill polished shortages. De Beers 2017 earnings -21% to $528M, revenue -4% to $5.8B, plans to raise 2018 production to 34M-36M cts. Lucara 2017 sales -25% to $221M, profit -8% to $65M. Petra 1H revenue -1% to $225M, loss of $118M vs. profit of $35M. US 2017 polished imports -6% to $21.6B, exports -4% to $18B. Reuven Kaufman reelected NY DDC president.

Iidgr Tw Banner Jan 2018
Weekly Monthly Y2Y
0.30 ct 0.40% 5.22% 6.65%
0.50 ct 0.53% 2.90% -11.65%
1.00 ct 0.44% 1.89% -0.73%
3.00 ct -0.10% -1.67% 3.30%
RAPI Yearly Graph
Unique Trade Wire 600X160
Market Reports
United States: Jewelry retail market stable over Valentine’s Day...
Belgium: Focus on filling US and European orders...
Israel: Polished trading slower as dealers wait for Hong Kong show...
India: Cautious mood following major bank fraud claim against Nirav Modi and Gitanjali Gems...
Hong Kong: Strong jewelry retail sales during Chinese New Year, according to government data...
Gia Tw Banner Jan 2018
Rapaport Research Report
WITH Avi Krawitz

India is better positioned for growth in 2018 than it was last year, despite the recent $1.8 billion fraud case that shook the industry this week. The February Rapaport Research Report outlines how the country can capitalize on its dominant role as new regulations become entrenched and global diamond demand improves.

Which Celebrities Own the Biggest Diamonds?
Best Jewelry Trends at New York Fashion Week
Home Linked to Ivanka Trump’s Diamond Business Burns
Does Product Value Fall When a Brand Is Tarnished?
600X160 Podcast
News Thumbnail
Investigation into $1.8B Jewelry Fraud Intensifies
Trade assesses impact of allegations.
News Thumbnail
Sarine Sues Rose Gems for Alleged Fraud
Technology provider claims Indian manufacturer misused Galaxy system.
News Thumbnail
Israel Sees Downturn in Polished Exports
Government promises financial aid to help boost trade.
News Thumbnail
New Diamond Bourse in the Works for Surat
The facility will host over 4,400 merchants.
News Thumbnail
Comment: Making the Most of Memos
Consignment can be a lucrative arrangement for jewelers, as long as both merchants and suppliers take steps to protect themselves.
News Thumbnail
Swiss Watch Exports Surge in Asian Markets
Region continues to be strong, with China overtaking the US.
News Thumbnail
Jewelers Focus on Digital at Inhorgenta
Favorable exchange rates boost diamond demand in Germany.
News Thumbnail
Mumbai to Get New Jewelry Complex
The park will span 25 acres and employ 100,000 workers.
News Thumbnail
De Beers Production to Peak in 2018
Earnings increase due to lower costs.
News Thumbnail
Lack of Large Diamonds Dents Lucara Sales
2017’s Lesedi La Rona sold for less than 2016’s Constellation.
News Thumbnail
Petra Diamonds Posts Heavy Loss
Stronger rand impacts results for South Africa-focused miner.
News Thumbnail
Prices Strong at Alrosa Israel Auction
Sale of large rough stones yields $13.7 million.
News Thumbnail
Phillips Names Jewelry Head for Americas
Susan Abeles formerly worked at Bonhams.
News Thumbnail
Ethically Sourced Gem Fair Comes to UK
Suppliers will offer a variety of stones at one-day London event.
News Thumbnail
Stargems to Hold Dubai Rough Tenders
Company partners with local diamond exchange.
News Thumbnail
WJA Honors Women Who Drive Equality
New category will debut at the annual Awards for Excellence.
News Thumbnail
Reuven Kaufman to Head New DDC Board
New York exchange reelects three other senior officers.
Rap Net Tw Banner E
Diamond Industry Stock Report

Indian jewelry shares fell as fraud allegations against Gitanjali Gems (-44%) and Nirav Modi dampened investor sentiment, with Asian Star (-14%) and PC Jeweller (-7.1%) both down. Lucara Diamond (-9.1%) and Petra Diamonds (-8%) trailed mining stocks following disappointing results. In the US, Walmart (-10%) dropped after reporting lower-than-expected earnings.

Rapnet Trade Wire
300X300 Mag
Trade Wire Box Melee February
Rap Academy Tw Square
Contact Us
Facebook  Twitter  LinkedIn  Google+  RSS  Email
© Copyright 2018 Martin Rapaport. All Rights Reserved.
Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Similar Articles
Rapaport TradeWire March 15, 2018
Mar 15, 2018
Industry Retail Mining General Finance March 15, 2018 RAPAPORT MARKET COMMENT Polished trading slower
Diamond TraderDiamond Trading Robust in February
Mar 07, 2018
RAPAPORT PRESS RELEASE, March 7, 2018, New York… Diamond market sentiment was positive in February, with
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.