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Rapaport TradeWire March 15, 2018
Mar 15, 2018 11:30 AM
By Rapaport
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| March 15, 2018 | | RAPAPORT MARKET COMMENT |  | | Polished trading slower than expected after Hong Kong show. Shortages supporting prices as manufacturers ramp up polished production. Good demand for dossiers. Lower colors hot in carat sizes. China outlook positive, but Jan.-Feb. retail sales +9.7%, slightly below expectations. Signet Jewelers investing in online and off-mall to restore growth, as shares tumble -20% after FY2018 sales -2% to $6.3B, profit -4% to $519M. Gem Diamonds 2017 revenue +27% to $214M, profit of $21M vs. $140M loss, sells 910 ct., D, type IIa Lesotho Legend for $40M ($43,956/ct.). US Feb. polished imports +3% to $1.8B, polished exports +22% to $1.5B. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.33% | 0.88% | 6.33% | | 0.50 ct | 0.57% | 1.26% | -10.57% | | 1.00 ct | 0.07% | -0.01% | -1.32% | | 3.00 ct | 0.03% | -0.13% | 1.07% |  | | 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: JA show quiet, shifting focus to independent designers and lower-quality jewelry... |  |  | Belgium: Stable rough trading during monthly Alrosa sale... | | |  | Israel: Large stones selling well, spurring demand for “specials” at rough tenders... | | |  | India: Liquidity concerns as banks tighten credit to large manufacturers following alleged Nirav Modi-Gitanjali fraud... | | |  | Hong Kong: Retail sales steady following Chinese New Year season... | | |  | | | WEEKLY NEWS | | industry | | | | CBI Makes Arrest in Winsome Bank Fraud | | India law-enforcement agency nabs Hasmukh Shah in Punjab National Bank affair. |  | | | India’s SBI Tightens Loan Terms for Jewelers | | Bank will require some clients to either raise collateral or repay half their debt. | | | | | Tiffany to Close Antwerp Polishing Facility | | Laurelton Diamonds will shift certain operations to Botswana, Cambodia, Mauritius and Vietnam. | | | | | Sotheby’s Hong Kong to Sell 14ct. Blue Diamond | | Auction will feature more than 280 lots worth over $93.6 million. | | | | | Social-Media Thieves Lurk at Basel – Expert | | Robbers monitor networks, seeking information that can help them steal goods. | | | | | retail | | | | Signet to Shut 200 Stores After Sales Disappoint | | Retailer unveils three-year strategy for reviving growth. | | | | | Pandora to Focus on E-Commerce | | Jeweler has hired Karl Walsh to lead new online department. | | | | | mining | | | | 910ct. Lesotho Diamond Sells for $40M | | Samir Gems buys historic stone at Antwerp tender. | | | | | Gem Diamonds Jumps Back into Black | | Company sees profit after mine devaluation last year led to a loss. | | | | | Brazil’s Braúna Mine Bracing for Growth | | Owner expects 11% sales increase in 2018. | | | | | Stellar Agrees to Takeover Deal | | Newfield acquisition will help miner begin production at Sierra Leone project. | | | | | general | | | | Kimberley Process Begins Two-Year Review | | Assessment gives organization opportunity to address the latest challenges, says World Diamond Council. | | | | | Sarine Deal to Boost CanadaMark Tracking | | Dominion diamond-tracing program launches at Hong Kong show. | | | | | Museum Finds Fakes in Gem Collection | | Audit turns up glass stones, as well as synthetic rubies and sapphires. | | | | | US Polished Trade Picks Up in January | | Imports increase 3% as average price jumps. | | | | | New Premier Jewelry Show Comes to Las Vegas | | The event will take place at the same time as JCK fair. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Large retail chains had a negative week, with Signet (-23%) sliding after announcing disappointing sales and 200 planned store closures. J.C. Penney (-15%) also fell, following a low assessment of its stock by Credit Suisse analysts. The week was better for miners: Gem Diamonds (+9.8%) gained, having sold a 910-carat stone for $40 million and shown strong annual results. Gitanjali Gems (-22%) continued to plummet in the wake of fraud allegations. | | | | | 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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