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Rapaport TradeWire May 24, 2018
May 24, 2018 1:19 PM
By Rapaport
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| May 24, 2018 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment ahead of Las Vegas shows. Suppliers maintaining firm polished prices and buyers acclimating to new levels. Strong US market fuels 2017 global diamond jewelry demand +2% to $82B, according to De Beers. Momentum continues in 1Q as Macy’s, J.C. Penney note standout jewelry category. Tiffany & Co. 1Q sales +9% to $1B, profit +53% to $142M. Richemont FY jewelry sales at Cartier, Van Cleef & Arpels +9% to $5.3B. Rough trading robust, despite increased bank caution. De Beers raises prices during $550M May sight. ABN Amro reduces diamond lending and plans to close US and Dubai branches. Rapaport to host annual Las Vegas conference on Sunday, June 3, at 8 a.m. Register here. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.07% | -0.25% | 0.93% | | 0.50 ct | 0.21% | 0.50% | -6.74% | | 1.00 ct | -0.05% | -0.45% | -1.42% | | 3.00 ct | -0.12% | -0.41% | -0.38% |  | | 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: Dealers with set appointments expect positive Las Vegas shows... |  |  | Belgium: Slow trading during shorter public-holiday week... | | |  | Israel: Suppliers confident as prices remained stable in seasonally quiet May... | | |  | India: Larger sightholders expected to use JCK show as branding opportunity... | | |  | Hong Kong: Buyers shifting to lower colors and clarities to accommodate tighter consumer budgets... | | |  | | | Episode 6: Making the Grade |  | | WITH The Rapaport Diamond Podcast | Diamonds are weighed, measured and scrutinized before they’re given a grade. But are grading labs fueling consumer confidence, or a cause for concern? This month, the Rapaport Diamond Podcast explores the state of diamond grading, with our editorial team offering its views on the issue. We also interview Martin Rapaport, who gives a taste of what to expect at the upcoming Rapaport Breakfast at JCK Las Vegas. |  | | | WEEKLY NEWS | | industry | | | | De Beers Raises Rough Prices Again | | May sales cycle closes with $550 million value. |  | | | ABN Amro Scales Back Diamond Lending | | Bank closing US and UAE offices. | | | | | GIA, Chow Tai Fook Launch Blockchain Pilot | | Platform will provide grading reports for the jewelry retailer’s T Mark brand. | | | | | Bonhams Puts Itself Up for Sale – Report | | Auctioneer appoints NM Rothschild to advise on potential deal, says UK newspaper. | | | | | Synthetics Not ‘Real,’ Say US Consumers | | 68% of Americans have that view of lab-grown diamonds, says DPA. | | | | | US Court Stalls $8M Sale of A. Jaffe | | Judge seeks more details on company’s connections to Nirav Modi. | | | | | retail | | | | Tiffany Regains Sparkle as Sales Surge | | Revenue increased 15% in the first quarter. | | | | | US Retailers See Robust Jewelry Results | | Macy’s and J.C. Penney cite the category among their top sellers. | | | | | Forevermark Unveils New Concept Store in China | | Shanghai branch is the brand’s 1,000th in the country. | | | | | Jewelry Speeds Ahead at Richemont | | Division sees revenue increase 9% for the past fiscal year. | | | | | mining | | | | Petra to Raise $178M to Repay Debt | | Rights issue follows severe operational challenges for the miner. | | | | | Alrosa Sells $10M at New York Auction | | Miner holds first sale at reopened US branch. | | | | | Gem Diamonds Unearths 115ct. Rough | | Stone is the ninth over 100 carats the company has recovered this year. | | | | | Stornoway Lowers Production Outlook | | Loss widens in first quarter. | | | | | Lucapa Plans to Extend Mothae Mine Life | | Company recovers 25-carat yellow diamond at Lesotho asset. | | | | | general | | | | Cartier, Queen Mary Tiara Make Markle Sparkle | | Headpiece features a brooch dating back to 1893. | | | | | India Upturn Boosts Sarine’s Results | | Sales rise 2% in first quarter as firm ships larger quantity of Galaxy units. | | | | | AGS Conclave: Bricks, Clicks and Magic Tricks | | New and seasoned visitors weigh in on hot topics facing the industry. | | | | | Signet, Alrosa Execs Join RJC Leadership | | Republic Metals Corporation CEO to take on honorary secretary role. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks had a mixed a week. Tiffany (+21%) soared following a jump in sales and profits, while Birks Group (+8%) spiked after royal-wedding viewers spotted Meghan Markle’s mother in several of its pieces. Poor results and the exit of its CEO hit J.C. Penney (-24%). In Europe, inventory repurchases at Richemont (-5%) damaged earnings, denting investor confidence. Petra Diamonds (-20%) plummeted after announcing a rights issue to raise cash, while Lucapa Diamond (+4%) enjoyed a positive response to its plans to extend the Mothae mining project. | | | | | 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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