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Rapaport TradeWire August 1, 2019
Aug 1, 2019 11:01 AM
By Rapaport
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| August 1, 2019 | | RAPAPORT MARKET COMMENT |  | | 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. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | 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% |  | | 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: 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... | | |  | | | WEEKLY NEWS | | industry | | | | De Beers Lets Clients Delay Rough Purchases | | New flexibility aims to reduce oversupply. |  | | | Blom Urges KP to Define Systemic Violence | | Lack of agreement is stalling war on conflict diamonds, WFDB argues. | | | | | Diamond Slump Hits Demand at Sarine | | Company expects quarterly loss of $1 million. | | | | | Consumers Still Spending More In-Store | | Customers willing to part with larger sums in a physical shop than online, Citi survey shows. | | | | | retail | | | | Jewelry Growth Strong for Kering in 1H | | Luxury group notes solid performance at Boucheron, Qeeling and Pomellato. | | | | | Alex and Ani Sues Bank of America for $1.1B | | Lender’s gender bias drove jeweler toward bankruptcy, filing claims. | | | | | Two Longtime Managers Exit Pandora | | Laurie McDonald and John DePasquale left after years in senior US positions. | | | | | Jewelry Firms Merge to Tap Secondhand Market | | Circa and Mondiamo parent company, Adama Partners, is also co-owner of Blue Nile. | | | | | Lab-Grown Retailer Hires Exec for US Push | | Paul Ziff will be North America brand president for Lark & Berry. | | | | | mining | | | | De Beers Sales Sink to Lowest Level Since 2015 | | Sightholders take up offer to defer purchases. | | | | | Rio Tinto Incurs Loss in Diamond Division | | First-half sales decline amid weak rough prices. | | | | | Small-Stone Slump Hits Firestone Revenue | | Production at Liqhobong mine falls 1% in fiscal 2019. | | | | | Alrosa Nets Fish-Shaped Diamond | | Miner hooks discovery to its underwater-ecology efforts. | | | | | general | | | | GIA, AGS Launch Beatrice Shipley Scholarship | | She was instrumental in helping her husband Robert found both organizations. | | | | | Alrosa Deputy CEO Among Senior Exits | | Yury Okoemov headed the miner’s diamond-cutting division. | | | | | Dubai Upgrading Diamond-Tender Center | | New facility to be unveiled in time for September conference. | | | | | | FINANCE | | 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%). | | | | | 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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