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Rapaport TradeWire March 8, 2018

Mar 8, 2018 11:20 AM   By Rapaport
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14 Dec 2017 Igi Trade Wire Top Banner
Rapaport TradeWire
March 8, 2018

Diamond market positive despite slower-than-expected Hong Kong show. China outlook optimistic, with some uncertainty over unlimited Xi Jinping rule. Government relaxing anti-corruption measures, and consumers more confident about displaying wealth. Chinese female self-purchases rising. Hong Kong jewelry and watch sales +10% to $1B in Jan. Diamond buyers adapting to higher polished-price levels, with 1 ct. RAPI +0.7% in Feb. Manufacturers’ profit margins tighter, with higher rough prices at $555M De Beers sight. Alrosa sells $541M in Feb. Rough trading steady; boxes selling at around 5% premiums. Belgium Feb. polished exports -6% to $1.3B, rough imports -5% to $866M.

Iidgr Tw Banner Jan 2018
Weekly Monthly Y2Y
0.30 ct -0.02% 1.02% 6.26%
0.50 ct 0.34% 1.24% -11.44%
1.00 ct -0.13% -0.05% -1.45%
3.00 ct -0.65% -0.39% 1.64%
RAPI Yearly Graph
Unique Trade Wire 600X160
Market Reports
United States: Jewelers focused on engagement and bridal collections...
Belgium: Rough market strong, with relatively large volume of Alrosa goods available...
Israel: Stable market, with robust dealer trading at Hong Kong show...
India: Banks more cautious in lending to the trade following Nirav Modi-Gitanjali Gems fraud case...
Hong Kong: Jewelers still assessing Chinese New Year sales and are expected to restock in coming months...
28 Feb 2018 Carat Tw Banner 600X160
What We Know About Nirav Modi’s US Companies
WITH Joshua Freedman

US-based Firestar Diamond and its affiliates have filed for Chapter 11 after allegations of fraud against their ultimate owner, Nirav Modi, thrust them into a crisis. Rapaport News lays out the companies’ complex ownership and business structures, based on a court declaration by their president and sole director, Mihir Bhansali.

Royal Secrets Inspire Dior’s Latest Collection
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The Challenges Bridal Jewelry Retailers Face
Gia Tw Banner Jan 2018
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Diamond Trading Robust in February
Polished prices continued to rise, with RAPI for 1 carat up 0.7%.
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Low Hong Kong Turnout Dampens Optimism
Many clients were still on vacation, as show occurred shortly after Chinese New Year.
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Rough Prices Firm at $555M De Beers Sight
Boxes selling at 5% premiums on the secondary market.
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DPA Eyes Chinese Millennial Market
“Real is Rare, Real is a Diamond” campaign spreads around the world.
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Jewelry Drives Macy’s Sales Increase
Department was one of the chain’s strongest in the fourth quarter.
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Hong Kong’s Luxury Results Jump in January
Jewelry and watches rise despite unfavorable timing of Chinese New Year.
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J.C. Penney Sees Strong Jewelry Demand
Division is key to retailer’s strategy, says CEO.
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Steinmetz’s Mining Firm Enters Administration
Advisory firm BDO takes control of BSG Resources Limited.
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Alrosa Sales Surge on Strong China Demand
February proceeds were 35% higher than the previous year.
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Rio Tinto Slashes Argyle Outlook
Operational challenges and lower price forecast dent prospects for Australia mine.
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Gem Diamonds Makes Another Big Discovery
152-carat stone is the sixth find over 100 carats this year.
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Man Charged with Stealing Diamonds at Diavik Mine
Police arrest suspect over “internal” theft at Rio Tinto subsidiary.
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MID Among Investors in New Payment App
Mazalit raises $1.9 million to advance and pilot its technology.
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Zimbabwe Group to Lead KP Civil Society
ZELA takes over from Impact, which quit the organization in December.
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Belgium Polished Trade Drops in February
Exports fall 6% year on year.
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Antwerp Groups Join Forces with Carat+
Organizers hope the new partnership will help increase buyer attendance at show.
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Sotheby’s Appoints Two Asia Jewelry Execs
Promotions reflect auction house’s renewed focus on the division.
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Rapaport Releases Upgraded Auction Report
New design presents Christie’s and Sotheby’s sales data in more user-friendly format.
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Diamond Industry Stock Report

J.C. Penney (-15%) saw its stock price slip after reporting lower-than-expected sales, as well as staff cuts. By contrast, Macy’s (+5.4%) benefited from strong fourth-quarter results. Mining stocks mainly had a bad week, with Lucara Diamond (-6.3%), Stornoway Diamond (-4.8%), Anglo American (-4.2%) and Rio Tinto (-5.5%) all suffering declines. Miner Gem Diamonds (+10%) experienced a rise after finding a 152-carat stone. Gitanjali Gems (-22%) continued to drop following fraud allegations against its managing director, Mehul Choksi.

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Trade Wire Square March Melee Single Stone
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