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Rapaport TradeWire May 23, 2019
May 23, 2019 11:23 AM
By Rapaport
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| May 23, 2019 | | RAPAPORT MARKET COMMENT |  | | Dealers heading to Las Vegas with hope new JCK venue will create a buzz and stimulate trading. Market sentiment weak amid slow orders, tight liquidity and declining prices. Memo houses doing well. US retail positive, with fine jewelry a top category at J.C. Penney and Macy’s. Richemont FY jewelry sales at Cartier, Van Cleef & Arpels +10% to $7.9B. Diamond manufacturers’ profit squeezed as De Beers maintains steady prices at $415M May sight. Alrosa 1Q revenue -27% to $1.1B, profit -27% to $372M. Sarine 1Q sales -34% to $11M, net loss of $1.4M vs. profit of $3.1M. RapNet announces vote on listing synthetics. Rapaport to host annual Las Vegas conference on Sunday, June 2, at 8 a.m. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -2.57% | -3.26% | -15.18% | | 0.50 ct | -0.38% | -1.62% | -5.54% | | 1.00 ct | -0.61% | -0.98% | -3.56% | | 3.00 ct | -2.71% | -2.69% | -11.51% |  | | 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: Jewelers see good momentum for fashion and fine jewelry... |  |  | Belgium: Weak demand for 3 to 5 ct. stones... | | |  | Israel: Rough trading slow, with some weakness in large stones... | | |  | India: Pockets of good demand, as dealers look for top-quality supply... | | |  | Hong Kong: Buyers shifting to lower colors and clarities to accommodate tighter consumer budgets... | | |  | | | Synthetic Ethics |  | | WITH Martin Rapaport | Synthetic diamonds are a fundamental threat to the natural diamond industry. |  | | | WEBINAR AT JCK LAS VEGAS: DIAMOND MARKET TRENDS |  | | WITH Avi Krawitz | Rapaport Senior Analyst Avi Krawitz will discuss the state of the diamond and jewelry industry at the upcoming JCK show in Las Vegas. This 45-minute presentation on Thursday, May 30, is designed to give you the tools to navigate the challenges facing the trade. You can attend in person, watch a livestream or receive a recording in your inbox. |  | | | Rapaport Breakfast at JCK |  | | WITH Martin Rapaport | Martin Rapaport will give his annual presentation on the state of the diamond industry on Sunday, June 2, at the Las Vegas show. | | | | | WEEKLY NEWS | | industry | | | | RapNet to Vote on Synthetics | | Poll of members will open this Sunday. |  | | | Blue Nile Reveals Which Shapes Sell Best | | Round was its most popular cut. | | | | | Synthetics Could Get Sustainability Badge | | Project is the new Lab Grown Diamond Council’s first initiative. | | | | | retail | | | | Sales Rise at Cartier, Van Cleef | | Jewelry revenues at owner Richemont up 10% for the year. | | | | | Jewelry Shines for Macy’s, J.C. Penney | | Category was among the top sellers for both companies. | | | | | mining | | | | De Beers Sales Slump 25% in May | | Revenue hits lowest level since 2017 as manufacturers struggle with tight margins. | | | | | Alrosa Profit Dips Amid Shift to Smaller Stones | | Figure down 27% year on year in the first quarter. | | | | | Lucapa Mine Yields Its Largest Diamond | | Company recovers 126-carat rough at its Mothae site in Lesotho. | | | | | general | | | | GIA Spots Natural-Synthetic Hybrid Diamond | | “New type of product” might be entering market, researchers warn. | | | | | Frederick Goldman Opens Lab-Grown Site | | Manufacturer will handle man-made and natural stones in separate facilities. | | | | | Groups Join Forces on Responsible Sourcing | | CIBJO and Coloured Gemstones Working Group will help businesses with supply-chain due diligence. | | | | | India Credit Slowdown Squeezes Sarine Profit | | Revenue from company’s largest market decreased 48%. | | | | | Sotheby’s to Sell More Than 800 Luxury Watches | | Auction house will hold four sales of the timepieces over the next year and a half. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Shares in J.C. Penney (-19%) plunged after its net loss almost doubled in the first quarter. The US-China trade war hit Chow Sang Sang (-2.9%), Chow Tai Fook (-8%) and Luk Fook (-4%). Miners had a difficult week following disappointing quarterly results, with Petra Diamonds (-11%), Mountain Province (-10%) and Stornoway Diamond (-8%) recording the heaviest declines. Sarine Technologies (-6%) fell after weakness in the Indian market dented sales of its equipment. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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