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Rapaport TradeWire June 14, 2018
Jun 14, 2018 11:00 AM
By Rapaport
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| June 14, 2018 | | RAPAPORT MARKET COMMENT |  | | Polished market stable as Las Vegas shows signal robust US jewelry sector. Chinese retail also improving, spurring optimism for rest of the year. Good demand for 0.50 ct. SIs and improving trend for 0.70 ct. Rough trading steady after small $288M Alrosa May sale. Cutters cautious ahead of next week’s De Beers sight due to tight profit margins. Graff Diamonds 2017 sales +22% to $693M, profit +232% to $52M. Christie’s NY sells $20M (89% by lot), with 20.47 ct., D, FL diamond fetching $2.7M ($132K/ct.). US March polished imports flat at $2B. Belgium May polished exports +5% to $1.2B, rough imports -14% to $905M. China cuts import tariffs on precious-stone jewelry from 35% to 10%. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.17% | 0.04% | 1.60% | | 0.50 ct | 0.10% | 0.21% | -5.35% | | 1.00 ct | 0.10% | 0.18% | -0.67% | | 3.00 ct | 0.43% | 1.34% | 1.21% |  | | 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: Jewelers holding less inventory and taking more on memo... |  |  | Belgium: Dealers optimistic for second half of the year and encouraged by steady US and Chinese demand... | | |  | Israel: Traders maintaining stable prices, even if it means losing the sale... | | |  | India: Polished production at slightly lower levels, after rough purchases declined in May due to high prices... | | |  | Hong Kong: Rising confidence among Chinese jewelers expected to boost activity at next week’s Hong Kong show... | | |  | | | Jewelers Talk Industry Ethics at Rapaport Forum |  | Jewelers and diamantaires shared their experiences in ethical sourcing — and the accompanying challenges — at Rapaport’s Town Hall Meeting during JCK Las Vegas. Watch their lively and important discussion. |  | | | WEEKLY NEWS | | industry | | | | Angola Eyes Antwerp as Ally in Diamond Reforms | | African nation seeks stronger ties, as government policies have restricted its diamond sector. |  | | | China Cuts Import Tariffs on Jewelry | | Taxes have dropped an average of 68% over 18 categories. | | | | | GIA to Name Branded Cuts on Grading Reports | | Lab aims to increase information available to consumers. | | | | | CAR Appoints Peter Meeus as Adviser | | Industry veteran will help Central African Republic comply with Kimberley Process rules. | | | | | US Polished Imports Flat in First Quarter | | Category saw less than 1% improvement over last year. | | | | | retail | | | | Graff Profits Soar After Retail Expansion | | Revenue up 22% in 2017. | | | | | India Seeks Interpol’s Help in Hunt for Modi | | Fugitive jeweler is reportedly claiming political asylum in UK. | | | | | US Jewelry Store Revenue Rises | | March sales increased 14% year on year. | | | | | De Beers Opens New Hong Kong Store | | Kowloon site is the chain’s fourth in the municipality. | | | | | mining | | | | Alrosa Sales Plummet Amid Mine Suspensions | | May down 39% compared to same time last year. | | | | | Gemfields Sells $72M at Record Auction | | Miner notes strong demand for Mozambican rubies. | | | | | general | | | | Belgium Polished Exports Rise | | Shipments to US, India and Switzerland jump, offsetting UAE and Hong Kong declines. | | | | | 20ct. D-Flawless Leads Christie’s Auction | | Diamond fetches $2.7 million in New York. | | | | | Sotheby’s to Sell Marie Antoinette’s Jewels | | Pieces are from royal Bourbon-Parma family collection. | | | | | Phillips Names New Watch Specialist | | James Marks will lead department’s international sourcing efforts. | | | | | WDC Seeks Feedback on Ethics Reforms | | System of Warranties extends effectiveness of the Kimberley Process. | | | | | Thieves Steal 20ct. Diamond at Vegas Show | | Perpetrators remove stone from unlocked display case. | | | | | Ariana Grande Sports $93K Engagement Ring | | Comedian Pete Davidson proposes to singer with 3-carat stone. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Shares in Hong Kong jeweler Chow Tai Fook (-10%) fell after earnings missed analysts’ forecasts. Weak Chinese economic data and the US Federal Reserve’s interest-rate hike also hurt Far East stocks, with Luk Fook (-7%) and Chow Sang Sang (-3.1%) recording declines. In the US, Signet (+9%) continued its rise after reporting strong sales last week. Petra Diamonds (-14%) slumped after debt troubles led it to issue rights to buy new shares. Anglo American also had a bad week, falling 9%. | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. 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