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Rapaport TradeWire Feb. 19, 2010

Feb 19, 2010 1:00 AM   By Rapaport
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RapUp February 19, 2010

De Beers raises rough prices again (about 7% in Feb. and 10% so far this year) and signals they are not planning further increases barring major market changes. Rough dealers celebrating as speculative spiral continues with big stone bubbles developing and spreading into polished. Starting to look like 2008. India’s Jan. polished exports +96% to $1.7b, rough imports +302% to $876m. Israel’s Jan. polished exports +84% to $563m, total rough and polished imports +257% to $505m. Martin Rapaport to present “The Diamond Decade – New Opportunities” Bangkok - Feb. 26; Hong Kong - Mar. 7.

RapNet Data: February 19,  2010
Diamonds 624,644
Value $4,080,730,019
Carats 715,387
Average Discount -32.33%
RapNet Asking Price

Get Current Price List | Subscribe to Rapaport | Join RapNet

Rapaport at Inhorgenta Europe   
New Munich Trade Fair Centre
Hall C, Booth 401
Munich, Germany
For information contact Francesco Lopresti:
+39-02-40047274 or email

Rapaport Tender Auctions
New York

Melee Auction -- Feb. 22-26
Polished round and fancy diamonds ranging in size from -2.5 sieve plate to 1ct +. Qualities vary from commercial to very fine including some breakout assortments. Excellent buying opportunity for diamond and jewelry manufacturers.

Single Stone Auction -- Mar. 1-4
Certified and non-certified diamonds ranging in sizes 0.5ct through 5ct +. Excellent buying opportunities for retailers, wholesalers, and diamond manufacturers.

Both By Appointment Only

Contact: Jackie Chan
Phone: 1-212-354-9800
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Bangkok

2 p.m. - 4 p.m.
4th Bangkok Gems & Jewelry Fair
Challenger Hall of Impact Convention Center
Bangkok, Thailand
Reserve your place:
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Hong Kong

11:00 a.m. - 12:30 p.m.
Hong Kong International Jewellery Show
Grand Hyatt Hong Kong
Salon III-IV, Mezzanine Floor
1 Harbour Road, Hong Kong
Reserve your place:
Rapaport Conference at Baselworld 2010   

"State of the Diamond Industry"
Martin Rapaport Presentation      
9:30 a.m.-11 a.m.

Rapaport Fair Trade Conference
1:30 p.m.-4 p.m.

Congress Center/Montreal Hall
Reserve your place:
Rapaport Exhibition Baselworld 2010   

Rapaport Booth
Messe Basel
Hall 3.1 Stand F01

For information contact Francesco Lopresti:
+39-02-40047274 or email

  Clearly, it would be premature to say that the period of uncertainty is over, but the industry does appear to be moving in the right direction. [Diamond Trading Company] sights in [the second half of] 2009 and into 2010 have seen demand consistently increase and we are confident that this trend will continue throughout 2010.

Mahiar Borhanjoo | DTC exec. director of sales, sightholder services

De Beers Raises Prices Nearly 10%

De Beers sales division, Diamond Trading Company (DTC), increased its prices by 7 percent to 9 percent at this week’s February sight, but said that it expects prices to remain stable in the short term. Based upon the company''s assessment of prevailing market conditions, there have been "some incremental adjustments to DTC box prices over the past few sights and a further and higher single-digit increase for sight 2,” Mahiar Borhanjoo, DTC’s executive director of sales and sightholder services, explained in a letter to sightholders. “We now anticipate a period of stability in respect of our prices, subject, of course, to any further major changes in market conditions.”

The DTC has been able to adjust its prices recently due to the more positive economic and supply-demand developments that have been observed in the market of late, Borhanjoo added. Reports from BHP Billiton customers indicated that prices rose by an average of 3 percent at the company’s rough tender this past week.

Mugabe Threatens to Defy Kimberley Process

Zimbabwe''s President Robert Mugabe threatened to defy the Kimberley Process (KP) and sell diamonds from the country''s Marange diamond fields, where the KP alleges that the military enacted forced labor and other abuses against civilians. The KP has given Zimbabwe until June to rectify these abuses, but Mugabe nonetheless threatened to sell the diamonds without the watchdog''s permission.

"We are trying to play it their own way; that is, following the KP, but we can do it otherwise," Mugabe told reporters in the capital. "We can sell our own diamonds elsewhere."

Gokhran to Tender Special Size Diamonds

Russia’s state repository, Gokhran, plans to tender special size rough diamonds that are larger than 10.8 carats  on March 16. Applications to participate in the tender close on February 26. Gokhran purchased approximately $924 million worth of rough diamonds from ALROSA in 2009 and is reportedly planning to buy around $872 million worth this year.

Rapaport Broadcast

WATCH NOW. Chain-store sales fell slightly this past week; De Beers results were of little surprise given market conditions and investors were not pleased with "good enough" results from Blue Nile, even though the online diamond retailer posted double-digit increases for the fourth quarter. It is important to keep tabs on consumer sentiment, given the mixed economic messages in the U.S. The latest Gallup polls suggest that consumer spending and the overall economic outlook remain fairly stagnant; many indicators have not moved much since April 2009.

Jan. U.S. Retail Sales Drop

The National Retail Federation (NRF) reported that U.S. retail sales, excluding automobile, gas station and restaurant sales, fell 0.2 percent during January 2010 compared with one year ago. January sales rose 0.5 percent over their December 2009 level, however.

“We continue to see the economy show subtle signs of improvement,” said Rosalind Wells, the chief economist for NRF. “While the recovery still has a long way to go, we remain encouraged by the latest retail sales figures.”

This January, retailers offered special deals designed to entice shoppers to hit their stores and use the gift cards they received for Christmas to stock up on clearance items.

Verragio''s Facebook Fans Name New Bridal Collection

Bridal jewelry designer Verragio reached out to its fan base on Facebook, offering them the opportunity to vote on the name of its new collection of engagement rings and wedding bands. In one week of voting, Verragio''s fans overwhelmingly selected “Evermore” as the name of this new collection. The Evermore Collection of engagement rings will officially launch in the spring, joining Verragio''s other distinct collections, such as Couture, Insignia, Classico and Paradiso.

U.S. Indicts Bout, Chichakli

The U.S. issued a new indictment against Viktor — also known as Victor — Bout, who, according to the United Nations Security Council (UNSC) Sanctions Committee on Liberia, supported former President Charles Taylor''s regime in an effort to destabilize Sierra Leone and gain illicit access to its diamonds. Bout has been in custody in Thailand since March 2008. Since that time, the U.S. has actively pursued his extradition on a separate set of arms-related allegations.

The new indictment also named Bout''s associate, Richard Ammar Chichakli — also known as Robert Cunning and Raman Cedorov — for allegedly conspiring to violate the International Emergency Economic Powers Act (IEEPA), based on their combined efforts to purchase two aircrafts from companies located in the U.S. The indictment charged Bout and Chichakli with money laundering conspiracy, wire fraud conspiracy and six separate counts of wire fraud in connection with these financial transactions.

Israeli Industry to Offer Largest Pavilion at HK Show

The Israeli diamond industry will boast its largest presence to date at the upcoming Hong Kong International Jewellery Show to be held from March 5 to March 9, 2010. The Israel Diamond Pavilion, organized by the Israel Diamond Institute Group of Companies (IDI), will be the largest national pavilion, featuring 60 companies, 20 of whom will be exhibiting for the first time. In addition, 20 more Israeli companies will be exhibiting at various show locations.

The unprecedented participation from Israeli companies attests to the local industry''s overwhelming interest in expanding its business within the Asian markets. The Israel Diamond Pavilion will located in Hall 3F at the show, while IDI’s information booth, 3FF29 will be situated in the heart of the pavilion. Learn more about the exhibitors.

AWDC Links Buyers with HK Show Exhibitors

The Antwerp World Diamond Centre (AWDC)  launched a dedicated and interactive website for the March 2010 Hong Kong show that features exhibitors from Belgium. The website provides users the ability to reach out to exhibitors along with providing an interactive map of the Hong Kong Convention & Exhibition Centre and the exact location of 55 participating Antwerp firms. Log on now to view company profiles and schedule appointments.

GIA Names Winners of Schuetz Design Contest

Sung Woo Hong of Seoul, Korea, took the first-place prize in the Gemological Institute of America''s (GIA) annual George A. Schuetz Jewelry Design Contest. Hong designed a tie tack and cuff links set made of emerald-cut, tapered sapphires and radiant, princess-cut diamonds in 18-karat yellow gold. The first prize award is $500 and a crystal trophy.

The second place award went to Joana Miranda of Glendale, Wisconsin, for her “Dog Tags with Hidden Pico Drive.” Her design used polished white metal, channel-set rubies and a black onyx inlay.  Miranda received a crystal trophy in recognition of her achievement.  Amit B. Kurdekar of Mumbai, India was awarded third place for a men’s ring made of enamel and 24-karat white and yellow gold.

Nielsen Jewelry Appoints Landis to Run Couture

Joan Landis was hired by Nielsen Expositions’ Jewelry Group to run the company''s upcoming Couture show. The Couture Show celebrates its 15th year from June 3 through June 7, 2010 at the Las Vegas Wynn Hotel.

JCK Awards Grant to DDII

The JCK Industry Fund awarded a grant to the Diamond Development Initiative International (DDII). The funds will be used by DDII to create development diamond standards intended to comprise a verifiable certification system for artisanally mined diamonds.

The standards will be utilized to address industry issues, formalize the artisanal sector and serve as a foundation to enhance the effectiveness of the Kimberley Process (KP). Development standards could also enable artisanal diggers to play active roles as agents of change within their own communities.

India Imports & Exports

For month of January 2010:

  $Mil. Chng.
Polished Exports $1,710 95%
Polished Imports $1,034 63%
Net Exports $673 141%
Rough Imports $876  302%
Rough Exports $59 2%
Net Imports $817 417% 
Diamond Acct. ($144) NA

Israel''s Jan. Polished Diamond Exports

For month of January 2010:

  $Mil. Chng.
Polished Exports $563 84%
Polished Imports NA NA
Net Exports NA NA
Rough Imports NA  NA
Rough Exports $303 215%
Net Imports NA NA 
Diamond Acct. NA NA

ALROSA''s 2009 Output Falls Slightly

Unaudited production results from ALROSA revealed that its rough diamond output fell slightly to $2.265 billion in 2009, whereas the miner''s production totaled more than $2.3 billion in 2008. These results were shared during an executive board meeting held on February 12. In December 2009, ALROSA estimated that its rough sales for 2009 would amount to about $2.13 billion, but the final report has not yet been released.

Russia''s cut and polished diamond output has dropped more than three-quarters in the past three years as demand has dwindled. The country''s production neared $1.2 billion in 2006 and 2007, but in 2009, that figure dropped closer to $330 million. Russia''s diamond cutters have the potential to raise their output in 2010; however, this potential is dependent on the level of global demand for diamonds.

Pangea DiamondFields Sale Nets $160 per Carat

Pangea DiamondFields sold 2,813 carats this past week in Luanda, Angola for an average price of $160 per carat before sales tax. This per-carat amount comprised approximately 89 percent of Pangea''s long-term target price of $180 per carat. The target price was set prior to the drop in rough diamond prices that occurred during 2009. Pangea stated that the average price achieved for the goods it sold in Angola was "well in excess of the currently budgeted level of $140 per carat."

Zimbabwe Cancels ACR''s Marange Licenses

Zimbabwe has canceled African Consolidated Resources'' (ACR) mining licenses to the Marange diamond fields, the company''s lawyer said on Tuesday. The decision to cancel ACR''s licenses came days after the government unveiled new regulations designed to force foreign firms to give locals a majority stake in major corporations.

ACR has been embroiled in a legal battle with mining authorities since it was ordered to suspend its operations in Marange in 2006. The minefields then fell into illegal mining activity, including that conducted by foreign nationals. Security agents used brute force to evict the diamond panners, resulting in deaths and serious injuries. In January, the Supreme Court ordered the country''s central bank to keep the 129,400 carats of diamonds seized from ACR in 2007, but that decision was also reversed.

This week, the Supreme Court ruled that the diamond mining being conducted at the disputed claims by the government''s partners, Mbada Diamonds Ltd. and Candile Miners Pvt., must cease until appeals are heard.

For the week ending Feb. 18, 2010:

  Feb. 18 Feb. 11 Chng.  
$1 = Euro 0.736 0.730 0.006  
$1 = Rupee 46.17 46.49 -0.3  
$1 = Israel Shekel 3.75 3.74 0.01  
$1 = Rand 7.61 7.69 -0.08  
$1 = Canadian Dollar 1.04 1.05 -0.01  
Precious Metals        
Gold $1,122.50 $1,094.10 $28.40  
Platinum $1,528.00 $1,523.00 $5.00  
Stock Indexes       Chng.
BSE 16,327.84 16,152.59 175.25 1.1%
Dow Jones Avg. 10,392.75 10,114.19 278.56 2.8%
FTSE 5,325.09 5,161.48 163.61 3.2%
Hang Seng 20,422.15 20,290.69 131.46 0.6%
S & P 500 1,106.75 1,078.47 28.28 2.6%
Yahoo! Jewelry Index 990.41 949.71 40.70 4.3%
Birks & Mayors $0.68 $0.63 $0.05 7.9%
Blue Nile $49.56 $52.56 -$3.00 -5.7%
Charles & Colvard $1.42 $1.39 $0.03 2.2%
DGSE Companies, Inc. $1.61 $1.68 -$0.07 -4.2%
Fuqi International $17.32 $16.99 $0.33 1.9%
JCPenney $26.00 $24.79 $1.21 4.9%
Kohl''s $51.38 $49.44 $1.94 3.9%
LJ International $2.49 $2.32 $0.17 7.3%
Macy''s $18.19 $17.13 $1.06 6.2%
Man Sang $2.00 $2.05 -$0.05 -2.4%
Movado Group $12.63 $11.44 $1.19 10.4%
Nordstrom $35.03 $33.81 $1.22 3.6%
Saks $6.99 $6.68 $0.31 4.6%
Signet $28.95 $27.37 $1.58 5.8%
Sotheby''s $24.33 $23.34 $0.99 4.2%
Tiffany $43.31 $41.54 $1.77 4.3%
Walmart $53.34 $53.08 $0.26 0.5%
Zale $1.87 $1.94 -$0.07 -3.6%
Bulgari €5.89 €5.53 €0.36 6.5%
Bijou Brigitte €139.50 €141.40 -€1.90 -1.3%
Damiani €0.95 €0.96 -€0.01 -1.0%
LVMH €79.60 €77.58 €2.02 2.6%
PPR €85.55 €84.59 €0.96 1.1%
Richemont SA CHF 36.76 CHF 35.46 CHF 1.30 3.7%
Swatch Group CHF 298.60 CHF 293.50 CHF 5.10 1.7%
Theo Fennell (pence) 45.00 44.00 1.00 2.3%
INDIA (rupee)        
Classic Diamond 21.55 20.70 0.85 4.1%
Gitanjali Gems 121.50 120.85 0.65 0.5%
Goldiam Int''l 42.75 43.65 -0.90 -2.1%
Rajesh Exports 100.95 104.90 -3.95 -3.8%
Ren. Jewellery 71.25 67.75 3.50 5.2%
Su-Raj Diamonds 49.50 49.60 -0.10 -0.2%
Titan 1,825.35 1,734.30 91.05 5.2%
Zodiac JRD 24.95 26.45 -1.50 -5.7%
Suashish Diamonds 303.50 301.20 2.30 0.8%
Michael Hill NZD 0.69 NZD 0.68 NZD 0.01 1.5%
Harry Winston CAD 11.35 CAD 10.61 CAD 0.74 7.0%
Lucara Diamond CAD 1.00 CAD 1.01 -CAD 0.01 -1.0%
Mountain Province CAD 2.18 CAD 2.27 -CAD 0.09 -4.0%
Peregrine Diamonds CAD 1.57 CAD 1.64 -CAD 0.07 -4.3%
Rockwell Diamonds CAD 0.07 CAD 0.08 -CAD 0.01 -12.5%
Shore Gold CAD 0.91 CAD 0.99 -CAD 0.08 -8.1%
Stornoway Diamond CAD 0.50 CAD 0.50 CAD 0.00 0.0%
True North Gems CAD 0.09 CAD 0.09 CAD 0.00 0.0%
UK (pence)        
African Diamonds 45.37 49.50 -4.1 -8.3%
Anglo American 2,502.00 2,343.00 159.0 6.8%
BHP Billiton 2,016.00 1,901.50 114.5 6.0%
Firestone Diamonds 38.50 39.00 -0.5 -1.3%
Gem Diamonds 256.60 248.50 8.1 3.3%
Gemfields 5.40 5.05 0.4 6.9%
Mwana Africa 13.00 11.07 1.9 17.4%
Namakwa Diamonds 36.70 37.00 -0.3 -0.8%
Petra Diamonds 58.06 53.45 4.6 8.6%
Rio Tinto plc 3,441.00 3,216.00 225.0 7.0%

Polished and rough trading activity

POLISHED: Comparatively less activity in the local markets due to higher asking prices.
-1 point: Good demand: -$350 whites.
-2 point: Good demand: -$350 whites.
Fair Demand: $250-$350 OWTTLC
2-7 point: Very good demand: +$300 whites.
Good demand: -$300 whites.
Fair Demand: $250-$350 OWTTLC
8-18 point: Good demand: +$500 whites.
Fair Demand: -$400 whites
20 points: Fair demand: +$600 whites.
25 points: Good demand: +$700 whites.
Fair demand: -$350 whites.
33 points: Good demand: +$900 whites.
Fair demand: $300 - $500 whites.
50 points: Very Good demand: +$1000 whites.
Good demand: $500-$700 whites
75 points: Good demand: +$2000 & $700-$900 whites.
1 carat+: Very good demand: +$1000 whites.
Good demand: -$1000 whites.
-3 point: Good demand: $300-350 whites.
Fair demand: $200-$275 whites.
+3 point: Good demand: $350-$400 whites.
Fair demand: $200-$300 whites.
+9-18 point: Good demand: +14 pts $550-$600 whites.
Fair demand: $250-$350 whites.
20 point: Fair demand: $700-$750 whites.
25 point: Fair demand: $800-$850 whites.
50 point: Good demand: $1600-$1,800 whites.
Fair demand: $400-$700 whites.
75 point: Fair demand: $1,000-$1,200 & $500-&1000 whites.
1 carat+: Good demand: +$2,500 whites.
Fair demand: $1000-$2000 whites
-6 point: Good demand: $400-$500 whites.
Fair demand: $250-$350 whites.
+7-18 point: Good demand: $600-$700 & +14 pts $800-$850 whites.
Fair demand: $250-$400 whites.
20 point: Fair demand: $250-$400 & $900-$1,000 whites.
25 point: Fair demand: $250-$400 & $1,100-$1,200 whites.
33 point: Fair demand: $250-$400 & $1,300-$1,500 whites.
50 point: Fair demand: $1,600-$1,800 whites.
75 point: Fair demand: $2,600-$2,800 whites.
1 carat+: Good demand: $300-$600 & +$1,000 whites.
Tapers & Baguettes
Good demand: $600-$800 +5mm whites. $250-$325
2mm-2.5mm whites; $350-$400, 2.5mm-3mm whites;
             $400-$450 3mm-4mm, $500-$600 4mm –
             5mm & $175-$250 +2mm-3mm whites.
ROUGH: Higher prices for desired rough goods keeps manufacturers and traders from buying. Some activity seen for goods that yeild polished -0.20cts in VS+/ I+.
1-5 point: Very Good demand: $90- $130 makeables; $100-$200 crystals.
Good demand:$40-$70 makeables.
Fair demand: $7-$20 & $45-$90 OW TTLB & TTLC.
6-20 point: Very Good demand: $150-220 crystals; $100-$180 makeables;
Good demand: $60-$110 fancy shapes; $40-$60 clivage.
Fair demand: $50-$90 OW TTLC & TTLB rounds.
21-50 point: Very Good demand: $200-280 makeables; $110-$180 & $225-$300 crystals;
Good demand: $80-$190 fancy shapes; $95-$170 rounds; $45- $85 clivage;
Fair demand: $20-$40 OW TTLC & TTLB.
0.51-1.00 carat: Good demand: $160-$325 makeables; $125-$250 & $280-$470 crystals;
$75-$120 makeables; $90-$200 fancy shapes; $50-$100 clivage.
Fair demand $60-$90 OW TTLC & TTLB.
1.01-2.00 carat: Good demand: $220-$570 rounds; $275-$725 crystals; $85-$115 clivage;
$180-$360 all fancy shapes.
Fair demand: $140-$180 OW TTLC & TTLB.
2.01-3.00 carat: Good demand: $250-$1,000 makeables; $350-$1,300 crystals;
$400-$800 fancy shapes; $210-$300 clivage.
Fair demand: $100-$325 flats & TTLC & TTLB
$350-$800 OW.
5.00 carat+:  Good demand: $1,000+ makeables, crystals & all fancy shapes till L color.
Mixed Lot: Good demand: $2-$40.

Work for Rapaport India

GIA Diamond Graduate for Mumbai office with a minimum of one year experience in the industry. Good English skills for verbal and written communications. Please send qualifications to:

Work for Rapaport New York

Rapaport New York is seeking a reliable, outgoing, career oriented professional with a positive attitude. Requirements include: 3+ years industry experience, bachelors degree, proficient in Microsoft Office. Sales experience a must, management experience a plus. Please send resumes to:



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Tags: African Diamonds, Alrosa, Anglo American, Angola, Antwerp World Diamond Centre (AWDC), Auctions, AWDC, Baselworld, Belgium, BHP Billiton, Birks & Mayors, Bulgari, Collections, De Beers, DTC, Economy, Fair Trade, Firestone, Gem Diamonds, GIA, Gokhran, Government, Harry Winston, Hong Kong, IDI, India, Israel, Israel Diamond Institute, JCK, Jewelry, Kimberley Process, Lucara Diamond, LVMH, Michael Hill, Movado, Pangea DiamondFields, Petra Diamonds, Production, Richemont, Rio Tinto, Rockwell, Russia, Sightholders, Sights, Signet, Theo Fennell, Tiffany, Titan, Zale, Zimbabwe
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