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Rapaport TradeWire March 1, 2018
Mar 5, 2018 9:59 AM
By Rapaport
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| March 1, 2018 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment after Chinese New Year. Hong Kong show starts off slow, with Chinese buyers still on vacation. Steady dealer demand and firm prices for 0.30 to 1 ct., G-J, VS-SI, RapSpec A2+ diamonds. Indian consumers and banks cautious as fallout from alleged $1.8B Nirav Modi-Gitanjali fraud widens, with new reports of unpaid $810M Gitanjali loan. A.Jaffe, Firestar Diamond and Fantasy file for bankruptcy protection. India Jan. polished exports +29% to $2.1B, rough imports +14% to $1.4B. Belgium Jan. polished exports +29% to $813M, rough imports +14% to $1.1B. Eira Thomas appointed CEO of Lucara Diamond Corp. Nishit (Bali) Parikh elected AWDC president. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.00% | 4.71% | 6.50% | | 0.50 ct | -0.33% | 2.08% | -11.87% | | 1.00 ct | -0.22% | 1.16% | -1.23% | | 3.00 ct | -0.13% | -1.83% | 3.20% |  | | 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: Retail market seasonally slow as jewelers concentrate on bridal ahead of summer wedding season... |  |  | Belgium: Dealers optimistic, with focus on filling US and European orders... | | |  | Israel: Good demand at large-stone rough auctions... | | |  | 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... | | |  | | | WEEKLY NEWS | | industry | | | | Modi Latest: Three Jewelers File for Chapter 11 | | Firestar and Fantasy hope to find buyers within a week. |  | | | Gitanjali Chief Tells Staff to Find New Jobs | | Asset seizures have made it impossible to pay salaries, Mehul Choksi claims. | | | | | Diamond Firms Press Ahead with Blockchain | | Dharmanandan and Hari Krishna have adopted the technology to improve traceability. | | | | | US Polished Market Declines in 2017 | | Imports and exports fall, but price per carat grows. | | | | | retail | | | | Buffett’s Conglomerate Sees Slight Retail Drop | | Division includes Borsheims, Helzberg Diamonds and Ben Bridge Jeweler. | | | | | mining | | | | Zimbabwe to Hold First Diamond Sale in a Year | | Auctions had paused during a restructuring period. | | | | | Lucara Names Eira Thomas as CEO | | Miner also acquires digital sales platform. | | | | | general | | | | Rapaport Partners with Carat+ 2018 | | Antwerp show is billed as world’s premier diamond event. | | | | | Belgium Sees Rise in Polished Trade | | Rough imports also climb. | | | | | Parikh Returns to AWDC President Role | | Diarough CEO last held the position from 2010 to 2012. | | | | | India’s Polished Exports Jump in January | | Shipments up 29% to $2.08 billion. | | | | | De Beers’ IIDGR to Offer Courses in Chinese | | Programs available for current or future diamond professionals. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Lucara Diamond stock rose 8.6% in the six days ending Wednesday as the company announced a new CEO and the acquisition of a digital sales platform. Miners had a mixed week otherwise: Stornoway Diamond (+17%) gained, while Petra Diamonds (-6.6%) and Firestone Diamonds (-8.5%) lost ground. US retail had a positive week, with both J.C. Penney (+9.4%) and Macy’s (+11%) benefiting from promising quarterly results. | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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