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Rapaport TradeWire December 13, 2018
Dec 16, 2018 2:02 AM
By Rapaport
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| December 13, 2018 | | RAPAPORT MARKET COMMENT |  | | Dealers and jewelers optimistic for last-minute holiday sales. Multi-channel digital and experiential retail are key themes this season, with rising number of pop-up stores and webrooms. Trade shifting east, with improving Chinese New Year demand. Some caution for 2019 as US-China trade war, volatile stock market and higher interest rates could impact consumer sentiment. Prices of 0.30 ct. diamonds pressured by high inventory (+160% vs. Dec. 2017 on RapNet). De Beers raises 2018 production to 35M/36M cts., despite lower sales volume. Rough prices stable during sight week. Alrosa Nov. sales -18% to $274M. Shane Durgin replaces Patrick Evans as CEO of Dominion Diamond Mines. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.30% | -1.59% | 2.78% | | 0.50 ct | -0.20% | -0.48% | 4.02% | | 1.00 ct | -0.40% | -0.32% | 1.49% | | 3.00 ct | 0.29% | -0.50% | -2.95% |  | | 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: New York retail busy, fueling optimism for rest of the holiday season... |  |  | Belgium: Steady local demand, but orders are very specific as jewelers avoid holding large inventory... | | |  | Israel: Prices firm, supported by relatively low availability of better-quality goods... | | |  | India: Small diamond and jewelry businesses under stress due to weaker rupee, tight credit and low profit margins... | | |  | Hong Kong: Tourist spending weaker as Chinese consumers shift focus to mainland spending... | | |  | | | Analysis: Crypto Firms Betting on Diamonds |  | | WITH Avi Krawitz | Developers of new diamond-backed cryptocurrencies are hoping to woo investors, claiming their coins offer greater stability than more established currencies such as Bitcoin. But will these fledgling projects benefit the diamond trade? |  | | | WEEKLY NEWS | | industry | | | | De Beers Ready to Relax Its Provenance Rules | | Miner proposes to let sightholders refer to its supply as “DTC diamonds.” |  | | | India Strengthens Position in Diamond Cutting | | Low costs and technological advances helped it beat off Chinese competition in 2017, says Bain. | | | | | Blues, Pinks Spur Christie’s $492M Sales Total | | Winston Pink Legacy was the top lot in 2018, fetching $50.4 million. | | | | | Canada’s NWT Lifts Polishers’ Export Ban | | New rules allow manufacturers to ship diamonds to cheaper production centers. | | | | | retail | | | | Zales Faces Suit over Jewelry Repair Plan | | Lifetime Diamond Commitment doesn’t cover the setting, retailer claims. | | | | | James Allen Opens Concept Store in DC | | Location will feature Signet brand’s virtual-reality diamond displays. | | | | | Tiffany Scores with Wealthier Immigrants | | Swarovski and Pandora also popular, says MVI Marketing report. | | | | | Blue Nile Hires Ex-Starbucks Marketing Executive | | Alexandra Wheeler will work to improve customers’ online experience. | | | | | mining | | | | De Beers Raises Production Outlook | | Miner predicts higher output at African mines amid solid consumer demand. | | | | | Alrosa Sees Upturn in Small-Stone Demand | | November sales still down 18% year on year. | | | | | Dominion CEO Patrick Evans Resigns | | Shane Durgin will succeed him with immediate effect. | | | | | Marange Critical to Zimbabwe Reforms, Says NGO | | Global Witness calls for improved transparency in diamond sector. | | | | | general | | | | Fossil Group Hires Ex-Pandora Exec | | Beth Moeri will be in charge of the company’s licensed brands. | | | | | Gem Group Clarifies Sapphire Color Requirement | | Stones that turn pink during testing don’t qualify as padparadscha, LMHC rules. | | | | | First Phillips NY Jewelry Sale Brings in $2.4M | | A Bulgari ruby and diamond necklace was the top item, fetching $200,000. | | | | | 3ct. Blue Sells for $1.4M at Fortuna | | New York auction was company’s largest to date. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Signet Jewelers (-31%) fell after reporting a loss, with Nomura subsequently lowering its share-price target for the stock. US-China disputes and uncertainty over Brexit hit global equities, with drops at Tiffany (-5%), Pandora (-13%), Lucapa Diamond (-10%), Lucara Diamond (-11%) and Firestone Diamonds (-11%). | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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