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Rapaport TradeWire February 7, 2019
Feb 7, 2019 11:17 AM
By Rapaport
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| February 7, 2019 | | RAPAPORT MARKET COMMENT |  | | Far East trading quiet during Chinese New Year. Market cautious due to weak demand, tight profitability and reduced bank credit. Selective buyers creating shortages of excellent-cut (3X, none) diamonds, but prices of lower-quality goods softening due to excess supply. 1 ct. RAPI -0.4% in Jan. Manufacturers maintaining low production as profit margins are squeezed by high rough prices. Letšeng 4Q sales -40% to $42M, average price -43% to $1,259/ct. Belgium 2018 rough imports flat at $10.7B. Pandora 2018 sales flat at $3.5B, profit -13% to $773M. RapNet introduces jewelry to trading network. The Rapaport Group wishes all our friends a happy and successful Chinese New Year. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.01% | -0.85% | -7.09% | | 0.50 ct | 0.31% | -0.29% | -0.79% | | 1.00 ct | 0.13% | -0.12% | -2.44% | | 3.00 ct | -0.68% | -2.20% | -5.98% |  | | 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: Shortage of better-quality diamonds supporting prices... |  |  | Belgium: Dealer sentiment mixed amid sluggish polished trading and concern about high rough prices.... | | |  | Israel: Niche suppliers of large stones, fancy shapes and fancy-color diamonds doing well... | | |  | India: High gold prices weighing on jewelry retail sales... | | |  | Hong Kong: Polished inventory levels down since January, but remain significantly higher than this time last year... | | |  | | | Canada’s Ice Road Opens for Milestone Year |  | | WITH Leah Meirovich | February is a crucial time for Canada’s diamond mines. Located in the most remote region of the country’s frozen Northwest Territories (NWT), Rio Tinto, Dominion Diamond Mines and De Beers have a two-month window to connect their mining operations to the outside world.
|  | | | WEEKLY NEWS | | industry | | | | Diamond Prices Slide as Year Begins with Caution | | US restocking slower than expected after holidays. |  | | | ‘Lab-Grown’ Diamond Turns Out to Be Natural | | GIA client submitted 2.23-carat, D-color stone for synthetic report. | | | | | Yellow Prices to Increase in 2019, Says FCRF | | Changes at Ekati mine will reduce availability of the color. | | | | | GIA Sheds Light on De Beers’ Synthetics | | Two Lightbox stones have G color and VS clarity. | | | | | South Korea Reduces Diamond Tax | | Government replaces 26% duty with two lower rates. | | | | | Antwerp Vault Heist Leaves Clients in the Dark | | Thieves apparently entered safety-deposit room via sewers. | | | | | retail | | | | Pandora Forecasts Sales Drop Amid Overhaul | | Jeweler aims to revive interest in charms. | | | | | David Yurman Wins Counterfeiting Case | | Court awards damages from 31 defendants who operated unlawful sites. | | | | | NRF Predicts Retail Growth in 2019 | | National Retail Federation forecasts sales increase of between 3.8% and 4.4%. | | | | | Strong Holiday Figures Boost Titan Results | | Revenue grew 35% in third fiscal quarter. | | | | | mining | | | | Letšeng Sales Fall Amid Lower-Quality Output | | Gem Diamonds sees 43% drop in price per carat. | | | | | Lucapa Angola Tender Rakes In $17M | | Sale is first since nation reformed trade. | | | | | Firestone Revenue Rises in Second Quarter | | Production up 24% to 224,947 carats. | | | | | general | | | | RapNet Introduces Jewelry Trading | | New feature adds significant value for members. | | | | | Diamonds Stolen from Israel Bourse Event | | Footage shows man snatching case allegedly worth tens of thousands of dollars. | | | | | Record Average Price Supports Belgium Trade | | Polished exports flat in 2018 as volume drops. | | | | | Boaz Moldawsky Elected IDI Chairman | | Former deputy head of Israel bourse will serve a three-year term. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Pandora (+16%) led retail stocks this past week after investors reacted positively to its restructuring plans. India’s Titan (+6%) gained after strong quarterly results. Mining shares were mixed, with Lucapa Diamond (+11%) up after a successful sale of large stones, while Firestone Diamonds (-11%) fell after unscheduled repair work in November affected its ore-treatment levels. Petra Diamonds (-5%) continued its recent downward trend. | | | | | 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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