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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
RAPAPORT MARKET COMMENT
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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
RAPNET DIAMOND INDEX (RAPI)
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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
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United States: Jewelers focused on engagement and bridal collections...
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Belgium: Rough market strong, with relatively large volume of Alrosa goods available...
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Israel: Stable market, with robust dealer trading at Hong Kong show...
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India: Banks more cautious in lending to the trade following Nirav Modi-Gitanjali Gems fraud case...
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Hong Kong: Jewelers still assessing Chinese New Year sales and are expected to restock in coming months...
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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.

UPS AND DOWNS
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Royal Secrets Inspire Dior’s Latest Collection
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Millennials Buying More Diamonds for Themselves
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Trump Duty Hike Could Harm Indian Diamond Sector
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The Challenges Bridal Jewelry Retailers Face
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Gia Tw Banner Jan 2018
WEEKLY NEWS
industry
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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.
retail
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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.
mining
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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.
general
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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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FINANCE
Diamond Industry Stock Report
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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.

Rapnet Trade Wire
Trade Wire Square March Melee Single Stone
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Rap Lab 29 Aug 2017 300X300
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