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Rapaport TradeWire January 24, 2019
Jan 24, 2019 11:08 AM
By Rapaport
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| January 24, 2019 | | RAPAPORT MARKET COMMENT |  | | Diamond markets quieter than usual in January. Dealers cautious amid sluggish US post-holiday demand. Far East orders slow as jewelers focus on Chinese New Year sales. Decline in Chinese tourist spending sees Tiffany & Co. Nov./Dec. sales -1% to $1B. Luk Fook 3Q same-store sales -10%. JBT reports US industry shrinks 4% to 25,102 jewelers in 2018. Rough sentiment weak as manufacturers face tight profit margins, high inventory and less financing. Indian bank credit down 30% due to weaker rupee and change in lending policy. De Beers 2018 production +6% to 35.3M cts., sales volume -4% to 33.7M cts. Alrosa 2018 output -7% to 36.7M cts., sales volume -8% to 38.1M cts. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.37% | -1.15% | -3.40% | | 0.50 ct | -0.14% | -1.10% | 0.45% | | 1.00 ct | -0.03% | -0.94% | -1.51% | | 3.00 ct | -0.51% | -2.24% | -6.91% |  | | 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: Uncertainty due to government shutdown and disappointing holiday sales by the major jewelers... |  |  | Belgium: Rough trading cautious, with prices for goods below 3-grainers softening on secondary market during De Beers sight... | | |  | Israel: Suppliers uncertain about 2019 prospects due to slow trading and new diamond tax... | | |  | India: Manufacturers holding large inventory and maintaining lower polished production... | | |  | Hong Kong: Focus on boosting retail sales during peak season, with concern that Chinese tourist spending has softened... | | |  | | | Miners Seeking Profits Beyond Rough |  | | WITH Leah Meirovich | Large diamond producers have been trying to conquer manufacturing and retail, but will independent businesses pay the price? |  | | | WEEKLY NEWS | | retail | | | | Tourist Slump Damages Tiffany’s Holiday | | Market volatility and lower spending by Chinese travelers affected results. |  | | | China Troubles Hit Luk Fook | | Same-store sales decline 10% in third fiscal quarter. | | | | | industry | | | | Ex-Leo Schachter Exec to Head Alrosa US | | Rebecca Foerster will be responsible for developing polished-diamond sales. | | | | | AI Tool Helps Select Eye-Clean Diamonds | | New technology identifies stones with no visible inclusions. | | | | | Belgium Prepares for ‘No-Deal’ Brexit | | AWDC urges traders to obtain necessary customs documentation. | | | | | India Trade Slows in December | | Polished exports slide 17% for the month. | | | | | mining | | | | 2H Slump Dents De Beers Sales Volume | | Demand for cheaper rough fell in final six months of 2018. | | | | | Mine Closures Hit Alrosa Production | | Full-year output drops 7% amid shutdowns at Mir and Udachnaya. | | | | | Rio Tinto 2018 Recoveries Decline | | Lower grades affect operational results at Argyle and Diavik. | | | | | Weakness in Low-Value Stones Hits Stornoway | | Sales down 35% in fourth quarter. | | | | | general | | | | Sarine to Launch AI Lab at Israel Event | | Facility offers grading reports based on machine learning. | | | | | Trade Sees Three New Appointments | | Executives join Jewelers’ Security Alliance, Jewelers Mutual and Royal Asscher. | | | | | CJA Appoints New Managing Director | | Beatrice Sturtevant will head Canada’s industry association. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Stocks in Hong Kong and Europe rose on reports of progress in US-China trade talks, with Pandora (+9%), Kering (+6%), LVMH (+5%), Richemont (+3.8%), Chow Sang Sang (+4.3%) and Chow Tai Fook (+2.7%) all increasing. A downgrade by Citi hit Signet Jewelers (-7%), which was already in a negative patch after last week’s disappointing results. Weakness in lower-value rough continued to affect smaller miners, with Mountain Province (-9%) and Firestone Diamonds (-9%) both down. | | | | | 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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