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Rapaport TradeWire December 14, 2017
Dec 14, 2017 12:24 PM
By Rapaport
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| December 14, 2017 | | RAPAPORT MARKET COMMENT |  | | Diamond markets driven by last-minute Christmas orders and preparations for Chinese New Year. US retail sentiment gets boost from economic growth, pending tax cuts and record-high stock market (Dow at 24,666). Cost of credit rising as Fed hikes interest rates 0.25 points based on positive job-market outlook. Polished inventory reduced due to holiday demand and low availability of new manufactured goods. Synthetics, tight bank credit and manufacturing profit among biggest concerns for 2018. Rough market stable at $450M Dec. sight. De Beers 2017 estimated rough sales -5% to $5.3B. Belgium Nov. polished exports +11% to $971M, rough imports -13% to $986M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.27% | 0.05% | -0.80% | | 0.50 ct | 0.23% | -0.17% | -19.18% | | 1.00 ct | 0.06% | -0.56% | -6.04% | | 3.00 ct | -0.99% | -1.40% | 4.18% |  | | 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: Suppliers sending goods on short-term memo to stimulate deals... |  |  | Belgium: Dealers offering higher discounts on lower-quality goods, as they don’t want to hold inventory over the holiday period... | | |  | Israel: Stable market with steady orders from the US and Hong Kong... | | |  | India: Manufacturers maintaining low production until end of the year... | | |  | Hong Kong: Rising expectations for the season amid improved consumer sentiment... | | |  | | | In the Loupe: The Rapaport Diamond Podcast |  | | WITH Rapaport News | Listen to the premier (and only) podcast covering the diamond and jewelry industry. The first edition looks at the holiday season’s upbeat forecast, how social media has changed the way we shop, and what Meghan Markle’s engagement ring means for the trade. |  | | | WEEKLY NEWS | | industry | | | | Diamond Midstream Improving Efficiency, Says Bain | | Cutting sector is streamlining business models to restore profits. |  | | | Israel Takes Its Cut from 813ct. Constellation | | Local trade says sawing the rough stone shows the nation’s market-leading prowess, but Dubai might disagree. | | | | | Legendary Yellow Diamonds Dazzle at Bonhams | | Collection’s history features deals between the Oppenheimers and the Cullinans. | | | | | De Beers Sees Future in Forward Contracts | | Pilot program accounted for 10% of the company’s auction revenue this year. | | | | | Myths Busted: The Truth About Diamonds | | False beliefs about the industry, especially among consumers, are some of the hardest to debunk. | | | | | retail | | | | Charming Charlie Chooses Chapter 11 | | Fashion-jewelry retailer plans to close underperforming stores. | | | | | mining | | | | Rough Demand Stable at $450M De Beers Sight | | Premiums on secondary market rise in some categories, but manufacturers’ profits still slim. | | | | | Alrosa Benefits from Rough Market Recovery | | Demand comparatively high after India’s demonetization policy sapped liquidity a year ago. | | | | | Gem Diamonds Ends Talks over Mine Sale | | Ghaghoo asset remains on care and maintenance due to price drop. | | | | | Gemfields Owner Reduces Staff, Salaries | | Colored-gemstone miner aims to lift production of high-value emeralds. | | | | | Alrosa Becomes a Certified RJC Member | | Miner’s sustainability practices get green light from independent auditor. | | | | | general | | | | India Firm Launches Diamond-Cutting Robot | | Machine puts stone in optimal position without human intervention. | | | | | Marange Subject to Zimbabwe’s Indigenization Law | | Government restricts rules to diamond and platinum sectors. | | | | | Belgium’s Diamond Exports See November Growth | | Net account more than triples compared with last year. | | | | | GSI Expands Synthetic-Testing Service | | It’s now available in Hong Kong, India, New York and Dubai. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | It’s been a volatile week for diamond and retail shares, even as major stock indices rose. Shares of Gem Diamonds (-12.5%) fell after the company ended talks over the sale of its Ghaghoo mine. Birks Group (-11%) and J.C. Penney (-9.6%) headed the declines among North American retailers, though Signet (+5.8%) was among those that gained. Chow Sang Sang (+7%) led Far East stocks, while Swatch Group (+6.3%) was the strongest performer out of select European luxury groups, following an upgrade by Credit Suisse. | | | | | Contact Us |  |       | | © Copyright 2017 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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