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Rapaport TradeWire October 17, 2019
Oct 17, 2019 9:00 AM
By Rapaport
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| October 17, 2019 | | RAPAPORT MARKET COMMENT |  | | Markets quiet amid Jewish holidays with steady demand for RapSpec A3+ goods. Indian manufacturers delay Diwali shutdown to increase post-festival inventory. Trading slow at Bharat Diamond Week. Liquidity low while companies settle supplier bills and pay staff ahead of Diwali. Alrosa Sep. sales -24% to $259M, but small-stone demand recovering. Hong Kong protests hit luxury sector, with Chow Tai Fook 2Q retail sales -35% in Hong Kong and Macau, +4% in mainland China. De Beers launching Lightbox at Bloomingdale’s and Reeds Jewelers. David Kellie to succeed Jean-Marc Lieberherr as CEO of Diamond Producers Association. Rapaport offices will close Oct. 21-22 for Jewish holidays. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.19% | 0.75% | -19.05% | | 0.50 ct | -0.23% | -0.22% | -10.10% | | 1.00 ct | -0.24% | 0.25% | -5.62% | | 3.00 ct | 0.74% | 0.22% | -18.66% |  | | 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. | | | | Diving into Diversity |  | | WITH Deborah Yonick | The rewards of an inclusive workplace are far-reaching, and the diamond and jewelry world has made progress — but there’s still a long way to go. |  | | | WEEKLY NEWS | | industry | | | | $14M Blue Diamond to Headline Christie’s Geneva | | Auction will also feature several Art Deco pieces. |  | | | Lab-Grown Sector Gears Up for Eco Audit | | Six companies sign up for sustainability pilot program. | | | | | CIBJO Publishes Ethics Recommendations | | Report by Tiffany Stevens comes ahead of annual congress in Bahrain. | | | | | Former Zales Vice Chairman Marvin Zale Dies | | He led the family jeweler’s operations in New York. | | | | | retail | | | | US Consumer Spending Dips | | Trade war may be denting sentiment, says National Retail Federation. | | | | | Lightbox to Debut at Bloomingdale’s, Reeds | | De Beers’ lab-grown brand was previously only available online and at pop-ups. | | | | | Chow Tai Fook Sales Slump | | Economic challenges and Hong Kong unrest affect performance across greater China. | | | | | Costco Sells $220,000 Diamond Ring | | Retail giant saw two big-ticket jewelry purchases in fiscal 2019. | | | | | mining | | | | Rio Tinto Output Falls Amid Lower Grades | | Production drops 7% at Argyle and Diavik mines. | | | | | Alrosa Sales Decline at Slower Rate | | Small rough stones show most notable improvement, miner notes. | | | | | Lucapa Tender Yields $10M | | Lulo and Mothae mines see surge in output. | | | | | general | | | | DPA Chief Lieberherr Steps Down | | Marketing executive David Kellie will take over as CEO. | | | | | DEF Invests in Education on Three Continents | | Grants will enable STEM, business and technical programs in India, Africa and Canada. | | | | | Christie’s Hires West Coast Watch Expert | | Michael Fossner, a fifth-generation specialist, trained in his father’s New York business. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks benefited from optimism stemming from positive trade talks between the US and China. Shares in Macy’s (+6%), Tiffany (+3.3%), J.C. Penney (+3.2%), Richemont (+7%), Kering (+5%) and Chow Tai Fook (+2.8%) all rose. Mining stocks did well, aside from Firestone (-23%), which fell following reports of a power outage at its Lesotho mine that could potentially affect production. |  | | | 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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