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Rapaport TradeWire July 12, 2018
Jul 15, 2018 2:56 AM
By Rapaport
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| July 12, 2018 | | RAPAPORT MARKET COMMENT |  | | Polished trading seasonally quiet. Asian demand driving activity during US vacation period. Chinese buyers shifting to lower colors amid yuan currency devaluation (-4% since June 1 to CNY 6.67/$1). Weaker yuan will also impact tourist jewelry shopping. Dossiers selling well, with good orders for 0.50 ct., D-M, VS-SI, RapSpec A2+ diamonds. Polished suppliers maintaining steady prices after rough-price hikes. Miners limiting 2018 supply after global 2017 KP rough production +29% to $15.9B, volume +19% to 151M cts., average price +8% to $105/ct. Alrosa 1H sales estimated +8% to $2.7B. Petra Diamonds sells 76% stake in Kimberley operations to Ekapa Mining for $22M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.05% | 3.12% | 6.22% | | 0.50 ct | -0.01% | 0.16% | -1.81% | | 1.00 ct | -0.21% | 0.41% | 0.68% | | 3.00 ct | 0.24% | 0.30% | 3.24% |  | | 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: Jewelry sales steady, with seasonal bridal demand during ongoing wedding period... |  |  | Belgium: Dealers cautious about buying too much inventory before August vacation... | | |  | Israel: Manufacturers concerned about high rough prices and tight profit margins... | | |  | India: Suppliers maintaining prices with slightly lower polished production... | | |  | Hong Kong: Chinese buyers restrained amid yuan devaluation... | | |  | | | De Beers, Botswana Prep for New Sales Deal |  | | WITH Avi Krawitz | De Beers and the Botswana government are expected to begin negotiating a new marketing agreement that could see more production going to local sightholders. |  | | | WEEKLY NEWS | | industry | | | | Global Rough Production Surges in 2017 | | New mines in Canada drive 29% increase. |  | | | Rio Tinto to Sell Largest Argyle Vivid Pink | | 3.14-carat Alpha is star of 2018 colored-diamond tender. | | | | | US Polished Imports Jump in April | | Shipments up 20% to $1.87 billion. | | | | | Namibia Predicts Diamond-Sector Slowdown | | Land-based mining resources are diminishing, says national bank. | | | | | retail | | | | Canada Stores Boost Michael Hill | | Global revenue up 3.3% in fiscal year. | | | | | Retail Division Drives Damiani Results | | Sector’s rise offsets decline in wholesale business. | | | | | mining | | | | Alrosa Revenue Rises in Strong Rough Market | | June sales up 7% year on year. | | | | | Renard Output and Sales Fall in 2Q | | Transition from open-pit to underground mining contributes to slowdown. | | | | | Lucapa Continues Big-Diamond Streak | | 114-carat stone is the 11th over 100 carats the miner has unearthed from its Lulo deposit. | | | | | Explosion Kills Worker at Alrosa Mine | | Accident occurs less than a year after fatal Mir flood. | | | | | general | | | | WJA Awards Total of $65K to 45 Women | | Organization aims to support professional growth among female members of the trade. | | | | | Trans Atlantic Brings In $35M at Dubai Tender | | Sale features high-quality rough from South Africa and Angola. | | | | | Asian Jewelry Groups Launch International Council | | JALC is a partnership between two existing trade bodies. | | | | | Alrosa Finds Diamond Shaped Like Soccer Ball | | Discovery takes place in middle of World Cup in Russia. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Weak equity markets in greater China attracted bargain buyers, driving up Chow Sang Sang (+3.9%), Chow Tai Fook (+3.5%) and Luk Fook (+6%). Trump’s trade war and falling oil prices hurt Russian stocks, dragging down Alrosa (-7%). Other mining stocks were a mixed bag, with Stornoway Diamond (+10%) and Firestone Diamonds (+8%) both gaining, while Gem Diamonds (-6%) fell. Signet (+7%) led US retail shares. | | | | | 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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