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Rapaport TradeWire August 1, 2019

Aug 1, 2019 11:01 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
August 1, 2019

Rough sales plummet due to lack of profit and liquidity squeeze. Midstream pressures caused by high 2017/18 rough supply at inflated prices, combined with tighter inventory controls by retailers. Sightholders refuse goods as De Beers keeps prices stable at $250M July sight. Rio Tinto 1H diamond revenue -16% to $271M, loss of $5M. Polished prices continue to soften, with July 1 ct. RAPI -0.9%. Rough prices must come down to restore profitable trade. Miners and brands need to invest significantly more to raise diamond-jewelry demand. Israel bourse publishes second “I Love Natural Diamonds” social-media video. Jewelers of America raises $300,000 to test consumer-focused ad campaign.

Trade Wire 600X160 April 2018
Weekly Monthly Y2Y
0.30 ct -0.54% -2.75% -22.16%
0.50 ct -0.34% -2.20% -9.67%
1.00 ct -0.48% -0.92% -6.13%
3.00 ct -0.36% -1.61% -16.44%
RAPI Yearly Graph
Gia Tw Banner E 31 May 2018
Market Reports
United States: Manufacturers of niche shapes such as rose cuts and briolettes doing well...
Belgium: Bourses closed until August 22...
Israel: Widening gap between none and faint fluorescence...
India: Not much buzz for next week’s IIJS Mumbai show, with gold-jewelry suppliers concerned about high gold price...
Hong Kong: Major jewelers focused on driving sales in mainland China...
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Petra’s Share Price Rises as It Allays Fears over Refinancing
Surat Group Arranges Exhibition to Spur Polished Demand
Manufacturing May Shift from China Due to Trade War
Sightholders’ Power Waning as Industry Struggles
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De Beers Lets Clients Delay Rough Purchases
New flexibility aims to reduce oversupply.
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Blom Urges KP to Define Systemic Violence
Lack of agreement is stalling war on conflict diamonds, WFDB argues.
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Diamond Slump Hits Demand at Sarine
Company expects quarterly loss of $1 million.
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Consumers Still Spending More In-Store
Customers willing to part with larger sums in a physical shop than online, Citi survey shows.
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Jewelry Growth Strong for Kering in 1H
Luxury group notes solid performance at Boucheron, Qeeling and Pomellato.
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Alex and Ani Sues Bank of America for $1.1B
Lender’s gender bias drove jeweler toward bankruptcy, filing claims.
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Two Longtime Managers Exit Pandora
Laurie McDonald and John DePasquale left after years in senior US positions.
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Jewelry Firms Merge to Tap Secondhand Market
Circa and Mondiamo parent company, Adama Partners, is also co-owner of Blue Nile.
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Lab-Grown Retailer Hires Exec for US Push
Paul Ziff will be North America brand president for Lark & Berry.
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De Beers Sales Sink to Lowest Level Since 2015
Sightholders take up offer to defer purchases.
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Rio Tinto Incurs Loss in Diamond Division
First-half sales decline amid weak rough prices.
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Small-Stone Slump Hits Firestone Revenue
Production at Liqhobong mine falls 1% in fiscal 2019.
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Alrosa Nets Fish-Shaped Diamond
Miner hooks discovery to its underwater-ecology efforts.
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GIA, AGS Launch Beatrice Shipley Scholarship
She was instrumental in helping her husband Robert found both organizations.
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Alrosa Deputy CEO Among Senior Exits
Yury Okoemov headed the miner’s diamond-cutting division.
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Dubai Upgrading Diamond-Tender Center
New facility to be unveiled in time for September conference.
600X160 Mag
Diamond Industry Stock Report

Major stocks fell this week amid ongoing economic uncertainties. Hong Kong retail dropped along with the Hang Seng Index, as the municipality was hit by a typhoon and saw protests that curbed purchases. Luk Fook (-6%), Chow Sang Sang (-3.9%) and Chow Tai Fook (-1.5%) all declined. Shares in Kering (-10%) plunged after sales at the retailer’s flagship brand Gucci were slower than expected. Anglo American (-11%) lost ground following an announcement by Volcan Investments that it would sell its 20% stake in the company. Other mining stocks also slid, including Petra Diamonds (-12%) and Mountain Province (-10%).

Rapnet Trade Wire
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Tradewire Square August 2019 Single Stone 1
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