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Rapaport TradeWire May 3, 2018
May 3, 2018 11:08 AM
By Rapaport
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| May 3, 2018 | | RAPAPORT MARKET COMMENT |  | | Trading slow as dealers in Belgium and India take long May Day weekend vacation. Good Hong Kong jewelry sales during the holiday, driven by rise in tourist spending. Polished prices stable, with 1 ct. RapNet Diamond Index (RAPI™) flat in April. US and Chinese retail sentiment positive. Jeweler Tse Sui Luen FY2018 revenue +12% to $486M, profit +97% to $6M. India March polished exports +8% to $2B, rough imports +5% to $1.7B. Israel 1Q polished exports -33% to $1.2B, rough imports -7% to $729M. IBM partners with Warren Buffett’s Helzberg Diamonds and Richline Group on blockchain platform. Industry mourns the passing of jewelers Joseph Samuel Jr. and James Avery. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.06% | -0.61% | 1.20% | | 0.50 ct | 0.09% | 0.10% | -7.97% | | 1.00 ct | -0.18% | 0.00% | -1.29% | | 3.00 ct | -0.29% | -0.46% | 0.29% |  | | 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: Dealers preparing for Las Vegas shows, but some giving up their booths due to high cost... |  |  | Belgium: Activity expected to improve during next week’s Carat+ show... | | |  | Israel: Buyers cautious after seeing prices firm since beginning of the year... | | |  | India: Rough trading stable, with premiums down to around 4% on the secondary market... | | |  | Hong Kong: Jewelry retail picking up after positive May 1 holiday sales... | | |  | | | WEEKLY NEWS | | industry | | | | Diamond Prices Stable Amid Slow April Trading | | Midstream under pressure from tight liquidity and thin profit margins. |  | | | India Trade Looks to Ease Banks’ Concerns | | GJEPC to produce guidelines to minimize lenders’ risks. | | | | | IBM Launches Blockchain for Jewelry | | Six responsibly sourced ring styles will be available at retail stores by the end of 2018. | | | | | S&P Upbeat Amid Flat Botswana Exports | | Rough-diamond shipments drop less than 1% in first quarter. | | | | | UAE Scraps Tax on Diamonds | | Emirates had introduced the VAT in January. | | | | | retail | | | | PC Jeweller Denies CEO Arrest | | Retailer sees “no reason” for slump in share price. | | | | | Hong Kong’s TSL Sees Revenue Jump | | Improved sentiment and tourism drive retailer’s sales and profit. | | | | | Signet Outsources Remainder of Non-Prime Credit | | Deal will have negative impact on this year’s operating income. | | | | | mining | | | | Botswana Diamond Mine Up for Auction | | Liquidators of Lerala asset to sell project online. | | | | | Gahcho Kué Gets Good Grades in 1Q | | Production rose 89% year on year. | | | | | Lucara Recovers 327ct. Rough Stone | | Diamond is eighth that miner has found this year over 100 carats. | | | | | Karowe Firm Gets First Female Boss | | Naseem Lahri will become managing director of Lucara’s Boteti Mining. | | | | | general | | | | Phillips to Auction Rare 53ct. Sapphire Necklace | | Hong Kong sale will also feature signed Harry Winston jewels. | | | | | First Guangzhou Rough Tender Sells Out | | Chinese bourse brings in nearly $6 million at inaugural sale. | | | | | Alan Cohen to Head London Exchange | | He will succeed Menachem Prager as president. | | | | | Emerald Set Prompts Bidding War at Bonhams | | Jewels sell for $2.7 million at London auction. | | | | | Vegas to Host Panel on Colored Diamonds | | Rapaport Editor in Chief Sonia Esther Soltani will moderate event. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | PC Jeweller (-51%) plummeted amid media scrutiny of its chairman’s share deals, and rumors — which it denied — that its CEO had been arrested. Kering (+5.9%) and LVMH (+4.6%) rose during a strong week for European stocks in general. Positive Chinese manufacturing data boosted demand for industrial materials, resulting in improved appetite for mining stocks such as Anglo American (+6.3%) and Rio Tinto (+3.7%). US retail was mixed, with Signet Jewelers (-5.3%) among the companies that lost ground. | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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