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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

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.

Rap Net Tradewire Right Diamond 600X160 Get A Demo
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
United States: Trading quiet with dealers on vacation. Activity expected to remain slow through July-August summer period...
Belgium: Sentiment weak, as trading is expected to remain slow until the bourses close for summer break...
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...
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...
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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Kate Middleton Wears the Queen’s Diamonds
The Jeweler Shaking Up the Industry
Gloom as Chinese Tourists Spend Less on Shopping
Unrest in Surat over New Tax System
Tradewire July Ss
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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.
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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.
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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.
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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.
Diamond Industry Stock Report

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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