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Rapaport TradeWire September 19, 2019
Sep 19, 2019 3:57 PM
By Rapaport
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| September 19, 2019 | | RAPAPORT MARKET COMMENT |  | | Hong Kong show brings fewer visitors, but better-than-expected trading. Serious buyers attending. Fair reflects specific Chinese interest and shift to lower-color diamonds. Pockets of good demand, with shortages of nice (eye-clean) RapSpec A3+ SIs due to reduced manufacturing. Some small-scale Indian cutters closing early for Diwali. De Beers maintaining flexibility for next week’s sight, allowing 20% buybacks or 50% rejections. Petra Diamonds FY revenue -6% to $464M, loss of $258M vs. $203M loss in previous year. Focus shifting back to US ahead of 4Q season, with call for major marketing campaign to raise consumer demand. US specialist jewelers’ 1H sales -5% to $14.4B. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.15% | -0.07% | -21.01% | | 0.50 ct | -0.47% | -0.62% | -10.52% | | 1.00 ct | -0.04% | -0.39% | -6.68% | | 3.00 ct | -0.48% | -2.22% | -18.87% |  | | 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: Retailers have yet to make significant orders for the holiday season and are concentrating on memo goods for now... |  |  | Belgium: Rough market slightly more optimistic ahead of next week’s De Beers sight than it was a month ago... | | |  | Israel: Shortages developing and prices firming for 0.50 to 1 ct., F-I, VS2-SI2 (3X, nonfluorescent) diamonds... | | |  | India: Polished production still at reduced levels, with some small-scale manufacturers closing early for Diwali... | | |  | Hong Kong: Visitor traffic at the show down from previous years due to demonstrations in the city... | | |  | | | WEEKLY NEWS | | industry | | | | Sentiment Cautious as Hong Kong Show Starts | | Exhibitors expect low buyer attendance due to social unrest. |  | | | Hong Kong Fair Prioritizes Buyer Incentives | | Organizers rejected exhibitors' request for a discount, instead funding perks to entice visitors to the show. | | | | | Alrosa Expects Kristall Merger in September | | Annexation of manufacturer will enable miner to increase polished sales in US and China. | | | | | CIBJO Urges Trade to Woo Gen Z-ers | | World Jewellery Confederation provides tips for appealing to young customers. | | | | | retail | | | | US Jewelry-Store Sales Fall in First Half | | Purchases down 5% year on year. | | | | | American Demand Drives Swiss Watch Exports | | Country was the top market for timepieces in August. | | | | | US Retail Revenue Robust Ahead of Tariff Hike | | Store owners trying to minimize the impact of trade war on consumers, says NRF. | | | | | Borsheims Creates Customer-Focused VP Role | | Adrienne Fay promoted to vice president to unite the online and in-store shopping experiences. | | | | | mining | | | | De Beers Finds Buyer for Namibia Mine | | Company sells Elizabeth Bay deposit to Lewcor Group. | | | | | Karowe Yields Two Massive Stones | | Lucara recovers a 123-carat, type II rough and a 375-carat, gem-quality diamond. | | | | | Gem Diamonds Unearths 127ct. Rough | | Stone is seventh over 100 carats this year. | | | | | Petra’s Loss Widens in Weak Market | | Company’s four deposits devalued. | | | | | general | | | | Podcast: Young Diamantaires Explore South Africa | | Rami Baron discusses recent trip to Venetia mine and goals of the group he established. | | | | | Sarine, NGTC Partner on Grading Standards | | Collaboration also aims to improve digital diamond solutions for the Chinese trade. | | | | | GIA Names New Mineral Johnkoivulaite | | Sample discovered in Myanmar and named for renowned microscopist and researcher. | | | | | Bonhams Auctions Historic Emerald | | Mughal Emperor Akbar II gifted stone to literary muse Lady Hood Mackenzie. | | | | | Ed Bridge to Receive Lifetime Achievement Honor | | Jewelers of America will present him with GEM Award. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks recorded major declines amid shareholder fears that rising gas and oil prices would eat into consumer spending. J.C. Penney (-33%), Macy’s (-9%), Signet (-5%), Chow Sang Sang (-4.4%), Richemont (-7%) and Swatch (-7%) all fell. Miners enjoyed better results: Lucara (+9%) stock rose following the recovery of two diamonds over 100 carats, while Petra (+9%) saw a rebound after disappointing results led to a sharp drop. Shares in Mountain Province (+13%) also increased. | | | | | 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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