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Rapaport TradeWire May 30, 2019
May 30, 2019 11:09 AM
By Rapaport
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| May 30, 2019 | | RAPAPORT MARKET COMMENT |  | | Las Vegas show opens with hopes it will uplift diamond market. Jewelers taking more on memo and using tech in their stores to tap online supply and improve consumer buying experience. Polished suppliers left with large volumes and low profit margins. Rough market slow. India’s customs unreasonably tightens disclosure rules for rough imports. India April polished exports -18% to $1.6B, rough imports -5% to $1.4B. Christie’s Hong Kong sells $45M (77% by lot) with cushion, 3.43 ct., fancy-vivid-purplish-pink, IF diamond fetching $7.5M ($2.2M/ct.). Rapaport to host annual Las Vegas conference on Sunday, June 2, at 8 a.m.
| | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.33% | -3.41% | -15.54% | | 0.50 ct | -0.10% | -1.56% | -5.80% | | 1.00 ct | 0.27% | -0.47% | -3.51% | | 3.00 ct | -1.76% | -3.87% | -14.06% |  | | 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: Positive sentiment as consumer confidence hits six-month high, despite Chinese trade-war concerns... |  |  | Belgium: Polished trading stable, with focus on bread-and-butter US goods during Las Vegas shows... | | |  | Israel: Inventories slightly down from previous months but still well above 2018 levels... | | |  | India: Some Far East and Indian buyers in Mumbai, but supply is concentrated on the US... | | |  | Hong Kong: Dealers focused on lower colors and clarities, reflecting shift in consumer demand toward lower price points... | | |  | | | RAPAPORT BREAKFAST AT JCK |  | | WITH Martin Rapaport | Martin Rapaport will give his annual presentation on the state of the diamond industry this Sunday, June 2, at the Las Vegas show. |  | | | WEEKLY NEWS | | industry | | | | Bubble Gum Pink Rakes In $2.2M/ct. at Christie’s | | Moussaieff piece sells for $7.5 million in Hong Kong. |  | | | Undisclosed Green Synthetics Raise GIA Eyebrows | | Carlsbad lab receives 25 HPHT stones with unusual color. | | | | | India Cracks Down on Rough Shipments | | Requirements are impossible to follow, GJEPC claims. | | | | | Lab Finds Man-Made Sapphires Posing as Diamonds | | Use of the stones in melee is unusual, says Gemological Science International. | | | | | retail | | | | Verdura Executive Donna Sturm Dies at 67 | | Design and product development manager hit by cyclist on 57th Street. | | | | | Platinum Jewelry Sales Saw Strong 2018 | | Growth in bridal driving US and India market, says Platinum Guild International. | | | | | Signet Names Ex-President as Interim UK Head | | Seb Hobbs stood down from his US-based position in April. | | | | | mining | | | | Independent Miner Finds 512ct. Rough in Tanzania | | Diamond is country’s largest. | | | | | Lucapa Closes In on Diamond ‘Mother Lode’ | | Miner believes it will find lucrative source within the next two years. | | | | | Trans Hex to Offload Another Deposit | | Company negotiating sale of Namaqualand to Kernel Resources. | | | | | general | | | | Lab-Grown Ban Splits Opinion on Facebook | | Jewelers Helping Jewelers outlaws synthetics trading. | | | | | Nirav Modi Assets Set for Vegas Auction | | GCAL will sell jewelry from Firestar and Fantasy at JCK show. | | | | | Is 3-D the Industry’s Next Big Thing? | | Sarine Technologies will create replica rough stones for consumers to touch. | | | | | Hong Kong Dip Hits Swiss Watch Exports | | Shipments to the municipality down 3.9% year on year. | | | | | India’s Polished Trade Slows Further | | Exports decline for sixth consecutive month. | | | | | Asian Star Full-Year Profit Rises | | Lower expenses compensate for revenue drop. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US and China retail shares continued to fall due to economic uncertainty and escalating trade-war fears. J.C. Penney (-18%), Macy’s (-4.2%), Tiffany (-8%) and Chow Tai Fook (-3.2%) all declined. Petra Diamonds (+9%) enjoyed a good week, but other miners had a rougher time. Stornoway Diamond (-36%) and Mountain Province (-14%) slid amid weakness in the Canadian stock market. Firestone Diamonds (-14%) and Alrosa (-2.6%) also lost ground. | | | | | 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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