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Rapaport TradeWire April 12, 2018
Apr 12, 2018 11:22 AM
By Rapaport
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| April 12, 2018 | | RAPAPORT MARKET COMMENT |  | | 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. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | 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% |  | | 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: Growth-minded retailers investing in e-commerce, better distribution and innovation in effort to drive customers to stores... |  |  | Belgium: Rough trading stable during De Beers sight, with boxes selling on the secondary market at slightly lower premiums... | | |  | Israel: Large-stone orders quiet. Dealers focused on US market, with rising expectations for upcoming Las Vegas shows... | | |  | India: Manufacturers with sizable credit lines facing greater scrutiny from banks... | | |  | Hong Kong: Stronger tourist spending and improved job market lift retail sentiment in 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. |  | | | WEEKLY NEWS | | industry | | | | Diamond Trading Slows in March | | Market sentiment softens after disappointing Hong Kong show and major bank fraud in India. |  | | | Zimbabwe Looks to Reform Marange Sales | | State mining company revamps operations at controversial deposit. | | | | | Top Jewels Fail to Sell at Sotheby’s Auction | | Blue-and-pink diamond ring and jadeite bangle left without buyers. | | | | | Hong Kong Polished Imports Rise | | Municipality sees increase in shipments from India and the US. | | | | | retail | | | | High-End Slump Forces Layoffs at De Grisogono | | Luxury Swiss jeweler will cut up to 41 jobs globally. | | | | | Titan Predicts Boost from India’s Crackdowns | | Regulatory changes will mainly hurt less-established companies, jeweler says. | | | | | Jewelry and Watch Sales Rise for LVMH | | Company saw 9% growth in the category during first quarter. | | | | | De Beers Opens Stores in Moscow and Riyadh | | Diamond giant now has 32 branches worldwide. | | | | | Birks Gets New Omni-Channel VP | | Aurélie Pépion is the former Canada managing director for Swarovski. | | | | | mining | | | | Large-Stone Demand Drives Alrosa Sales | | First-quarter rough revenue up 20%. | | | | | Mountain Province Gets Approval for Kennady Deal | | Shareholders give green light to acquisition. | | | | | Lucapa Raises $13M to Broaden Australia Drilling | | Miner will use investment to expand lamproite exploration project. | | | | | 37ct. Diamond Boosts Stornoway Prices | | Miner notes strong start of year for rough market. | | | | | Pangolin Acquires Former De Beers Mine | | Company announces resignation of chairman Gareth Penny. | | | | | general | | | | Sotheby’s to Sell Two D-Flawless Diamonds | | Gems are among the largest, purest white stones to go under the hammer. | | | | | Christie’s to Auction 20ct. Yellow Diamond Ring | | Geneva sale also includes Burmese sapphires, Art Deco pieces and retro jewels. | | | | | Israel Bourse’s Eli Avidar Moves into Politics | | Exchange chief plans to run in country’s next elections. | | | | | Arts Group Rewards Ethical Jewelry Practices | | Toby Pomeroy receives the first leadership award for this category. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | 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. | | | | | 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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