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Rapaport TradeWire April 12, 2018

Apr 12, 2018 11:22 AM   By Rapaport
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14 Dec 2017 Igi Trade Wire Top Banner
Rapaport TradeWire
April 12, 2018
RAPAPORT MARKET COMMENT
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Optimistic mood as trading resumes after spring break. Polished prices stable, with 1 ct. RAPI -0.1% in March. Chinese dealers buying stock ahead of potential yuan devaluation that may raise local prices if China-US trade war emerges. European high-end market mixed, with large luxury houses doing better than smaller niche players: LVMH 1Q jewelry & watch sales +9% to $1.2B; De Grisogono to cut around 40 jobs in strategic shift to affordable fine jewelry & watches. Sotheby’s Hong Kong sells $49M (61% by lot), but emerald-cut, 14.18 ct., fancy blue, VVS2 diamond ring remains unsold. Alrosa March sales -1% to $560M. Hong Kong 2017 polished imports +9% to $18.9B, exports +5% to $14B.

Iidgr Tw Banner Jan 2018
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.98% -0.68% 1.22%
0.50 ct -0.08% 0.31% -9.06%
1.00 ct -0.05% -0.30% -1.24%
3.00 ct 0.22% 0.57% 0.72%
RAPI Yearly Graph
Unique Trade Wire 600X160
Market Reports
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United States: Growth-minded retailers investing in e-commerce, better distribution and innovation in effort to drive customers to stores...
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Belgium: Rough trading stable during De Beers sight, with boxes selling on the secondary market at slightly lower premiums...
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Israel: Large-stone orders quiet. Dealers focused on US market, with rising expectations for upcoming Las Vegas shows...
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India: Manufacturers with sizable credit lines facing greater scrutiny from banks...
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Hong Kong: Stronger tourist spending and improved job market lift retail sentiment in 2018...
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Trade Wire 600X160 April 2018
US-China Trade War Shouldn’t Hurt Diamonds
WITH Joshua Freedman

The global diamond sector may have felt nervous about the US proposal earlier this month to place $50 billion worth of tariffs on Chinese goods. The response from the People’s Republic last week — threatening its own duty hike on American products — raised the stakes higher still. However, neither country is likely to include gems or jewelry in a trade war. And even if they did, the impact would be minimal, according to senior industry figures.

UPS AND DOWNS
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Stability Makes Diamonds a Good Investment
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Heirloom Jewelry Tells the Story of a Family
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Rough Prices Sluggish After PNB Scandal
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HRW: Chopard Ethical Sourcing Not Entirely Accurate
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28 Feb 2018 Carat Tw Banner 600X160
WEEKLY NEWS
industry
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Diamond Trading Slows in March
Market sentiment softens after disappointing Hong Kong show and major bank fraud in India.
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Zimbabwe Looks to Reform Marange Sales
State mining company revamps operations at controversial deposit.
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Top Jewels Fail to Sell at Sotheby’s Auction
Blue-and-pink diamond ring and jadeite bangle left without buyers.
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Hong Kong Polished Imports Rise
Municipality sees increase in shipments from India and the US.
retail
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High-End Slump Forces Layoffs at De Grisogono
Luxury Swiss jeweler will cut up to 41 jobs globally.
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Titan Predicts Boost from India’s Crackdowns
Regulatory changes will mainly hurt less-established companies, jeweler says.
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Jewelry and Watch Sales Rise for LVMH
Company saw 9% growth in the category during first quarter.
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De Beers Opens Stores in Moscow and Riyadh
Diamond giant now has 32 branches worldwide.
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Birks Gets New Omni-Channel VP
Aurélie Pépion is the former Canada managing director for Swarovski.
mining
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Large-Stone Demand Drives Alrosa Sales
First-quarter rough revenue up 20%.
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Mountain Province Gets Approval for Kennady Deal
Shareholders give green light to acquisition.
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Lucapa Raises $13M to Broaden Australia Drilling
Miner will use investment to expand lamproite exploration project.
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37ct. Diamond Boosts Stornoway Prices
Miner notes strong start of year for rough market.
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Pangolin Acquires Former De Beers Mine
Company announces resignation of chairman Gareth Penny.
general
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Sotheby’s to Sell Two D-Flawless Diamonds
Gems are among the largest, purest white stones to go under the hammer.
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Christie’s to Auction 20ct. Yellow Diamond Ring
Geneva sale also includes Burmese sapphires, Art Deco pieces and retro jewels.
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Israel Bourse’s Eli Avidar Moves into Politics
Exchange chief plans to run in country’s next elections.
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Arts Group Rewards Ethical Jewelry Practices
Toby Pomeroy receives the first leadership award for this category.
25 Mar 2018 Gia Tw Banner
FINANCE
Diamond Industry Stock Report
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China’s announcement that it would open its economy to foreign investors resulted in stock increases across global markets since the last TradeWire two weeks ago. Birks Group (+16%) and J.C. Penney (+21%) led US retail shares, while Chow Tai Fook (+12%) gained in Hong Kong. In Europe, Kering (+13%) and LVMH (+15%) both rose, with the latter also benefiting from strong first-quarter sales. Lucapa Diamond (+20%) secured an investment to expand its exploration. Shares in Petra Diamonds (-8.2%) showed a downward trend, but recovered some ground after the miner struck a deal with its lenders. Gitanjali Gems (-35%) continued to decline following fraud allegations.

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