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Rapaport TradeWire July 13, 2017

Jul 16, 2017 3:25 AM   By Rapaport
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Rapaport TradeWire
July 13, 2017
RAPAPORT MARKET COMMENT
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Diamond markets quiet and in vacation mode. Polished inventory levels ‎sufficient to see dealers through the third quarter. Manufacturers maintaining high production levels with $1.8B of rough sales to India this May. Cutter profitability a concern during this week’s Alrosa sale. Continued strength in e-commerce as Amazon’s Prime Day exceeds its Black Friday and Cyber Monday sales. Graff Diamonds Int’l 2016 sales -10% to $570M, profit -66% to $16M. Chow Tai Fook 1Q China sales +17%, HK/Macau +7%. Michael Hill FY global sales +6% to $437M, but US sales weak. Belgium’s June polished exports -12% to $1B, rough imports +5% to $997M. Tiffany & Co. appoints Alessandro Bogliolo as CEO.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.57% -1.74% 2.36%
0.50 ct -0.90% -3.88% -16.09%
1.00 ct -0.31% -1.09% -7.91%
3.00 ct -0.50% -2.02% 1.45%
RAPI Yearly Graph
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Market Reports
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United States: Trading quiet with dealers on vacation. Activity expected to remain slow through July-August summer period...
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Belgium: Sentiment weak, as trading is expected to remain slow until the bourses close for summer break...
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Israel: Market quiet with US clients on vacation. Trading in 0.30 to 0.49 ct. goods has slowed following a period of improved Chinese demand in 1H...
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India: Polished trading slow with US buyers on summer vacation. Weak demand for lower-quality piqué goods, with fewer orders than expected after Las Vegas show...
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Hong Kong: Dealer market cautious, with shift to lower price points. Good demand for better-quality SIs and steady demand for 0.30 to 0.50 ct., F-H, VS-SI, VG+ GIA-graded diamonds...
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UPS AND DOWNS
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Kate Middleton Wears the Queen’s Diamonds
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The Jeweler Shaking Up the Industry
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Gloom as Chinese Tourists Spend Less on Shopping
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Unrest in Surat over New Tax System
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Tradewire July Ss
WEEKLY NEWS
industry
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Bank Told to Restore Exelco Assets: Bloomberg
Diamond cutter on track to repay loans by 2020, report states.
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Global Witness Urges Trade to Improve CAR Checks
Diamond firms are falling short when it comes to due diligence on Central African Republic, group says.
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Belgium Polished Diamond Exports Decline
Shipments to Hong Kong drop 22% in June.
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DGSE in Talks to Buy National Pawn
Acquisition could come alongside sale of wholesale division and focus on retail.
retail
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Tiffany Picks Ex-Bulgari Exec as CEO
Alessandro Bogliolo currently runs Italian clothing brand Diesel.
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Chow Tai Fook Cements Return to Growth
Jewelry retailer’s sales rise in Hong Kong and China.
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Graff Diamonds Intl. Sales Slide in 2016
Revenue and profit up for overall group, jeweler says.
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Tiffany Hub Aims to Speed Up New Designs
Facility in New York will unite creative and production teams in single location.
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Amazon Prime Day Breaks Records
Sales rise 60%, surpassing Black Friday and Cyber Monday.
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Store Growth Drives Michael Hill Sales Jump
US business continues to struggle, says Australian jeweler.
mining
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Alrosa Sees Stable June Rough Market
Sector showed seasonal slowdown at end of month.
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Ekati Extension Gets Crucial Water Permit
License approval is key step for Jay project, says owner Dominion.
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Diamcor 1Q Sales Decline
Product shift lifts average price for April-to-June period.
general
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WDM Names Seven New Retail Members
New authorized diamond dealers are from Belgium, Canada, Italy and Russia.
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Scio Diamond to Up Synthetics Production
Company completes debt restructure as it chases elusive profit.
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MJSA Adds Membership Tier for Small Firms
Companies with up to three employees can join trade body as ‘premier associate’ members.
FINANCE
Diamond Industry Stock Report
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US retail stocks weakened this past week, with Macy’s (-9.7%) and Movado Group (-8.3%) recording the heaviest slides as Amazon’s continued dominance extended the low morale in the brick-and-mortar sector. Indian stocks slipped, led by Lypsa Gems (-18%), as investors feared the impact of the new goods and services tax on jewelers. Alrosa (+4.2%) gained value as it reported stable rough-diamond demand, while Gem Diamonds (-11%) declined.

Rapnet Trade Wire
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