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Rapaport TradeWire June 28, 2018
Jun 28, 2018 11:48 AM
By Rapaport
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| June 28, 2018 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment despite sluggish Hong Kong show. Stable US and Chinese demand supporting the market. Suppliers holding polished prices firm as high rough prices squeeze manufacturers’ profit margins. Larger-than-expected $575M June De Beers sight signals robust rough market, with boxes selling at estimated average 3% to 6% premiums. Good polished demand for 1 ct., G-J, VS-SI, RapSpec A2+ diamonds. Buyers shifting to VG as 3X premiums increase. Luk Fook FY revenue +14% to $1.9B, profit +33% to $175M. Israel and Shanghai bourses sign MoU to manufacture large stones in new Ramat Gan factory. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.16% | 0.48% | 2.55% | | 0.50 ct | 0.05% | 0.35% | -4.16% | | 1.00 ct | 0.15% | 0.65% | -0.35% | | 3.00 ct | 0.58% | 0.52% | 2.24% |  | | 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: Shift in consumer interest from bridal to fashion collections... |  |  | Belgium: Fancy colors relatively weak, particularly commercial-quality yellows... | | |  | Israel: Imperfect stones selling at deeper discounts... | | |  | India: Consistent manufacturing to fill shortages and satisfy anticipated third-quarter demand... | | |  | Hong Kong: Market sentiment positive, even though last week’s show failed to boost trading... | | |  | | | Episode 7: What Happened in Vegas |  | | WITH The Rapaport Diamond Podcast | The Rapaportteam is back from JCK Las Vegas with stories to share. This month’sRapaport Diamond Podcast reflects on the mood and main events of that keyjewelry fair. The team discusses Martin Rapaport’s vocal challenge of De Beers.And Sonia EstherSoltani, Rapaport’s Editor in Chief, gives an update on the hot new trends atthe high-end Couture show. |  | | | WEEKLY NEWS | | industry | | | | Innovate or Die: Why the Industry Is Lagging | | Signet CEO Gina Drosos outlines three areas that require creative thinking to advance the diamond and jewelry trade. |  | | | De Beers Sells $575M Amid Strong Demand | | Shortages and robust market sentiment support rough sector. | | | | | Israel to Polish Large Diamonds from China | | New Ramat Gan factory due to open in January. | | | | | Jewelers Cheer Online-Sales-Tax Ruling | | Supreme Court permits US states to collect duty from e-tailers. | | | | | KP Addresses Conflict-Diamond Definition | | Reforms will enable “Kimberley Process 2.0,” say trade leaders. | | | | | retail | | | | Alrosa Upbeat on 1Q Diamond Retail Market | | Consumer sentiment and currency fluctuations drive 7% growth, miner says. | | | | | Tourism Boosts Luk Fook Results | | Sales increased 14%, profit up 33% in the past fiscal year. | | | | | TSL Sales Growth Prompts China Expansion | | Hong Kong retailer will open 100 new stores following strong annual results. | | | | | Michael Hill to Shut Emma & Roe | | Retailer diverts focus to its core brand. | | | | | mining | | | | Alrosa Brings In $10.5M at Dubai Auction | | Miner sells 111 large stones for average of $6,087 per carat. | | | | | Pallinghurst Rebrands as Gemfields Group | | Change stems from company’s decision to focus more on colored gemstones. | | | | | Losses Grow at South Africa’s Trans Hex | | Company offloading unprofitable Lower Orange River mines. | | | | | Dominion Agrees to Save 150 Ekati Jobs | | Miner reaches deal with Canadian workers’ union. | | | | | general | | | | Israel Bourse Ends Cryptocurrency Deal | | Regulator rejects Carats.io’s application for diamond-trading license. | | | | | KP Accelerates CAR’s Diamond Exports | | Monitoring team agrees to spend just a week clearing shipments from Central African Republic. | | | | | Rapaport Academy Launches Retail-Sales Courses | | Online programs help jewelers improve business success. | | | | | Swiss Watch Trade Ticking Along Nicely | | Exports up 10% in first five months. | | | | | De Beers Begins Building $94M Synthetics Center | | Element Six holds groundbreaking ceremony at Oregon diamond-growing factory. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | American and Asian retail stocks mainly fell this past week amid concerns of US trade wars on various fronts, with J.C. Penney (-13%) heading the declines. Chow Tai Fook (-8.6%) was the weakest performer in the Hong Kong jewelry market, with Luk Fook (+2.9%) bucking the trend after reporting a jump in profits. Indian shares were sluggish overall, while Alrosa (+3%) led otherwise mixed mining stocks. | | | | | 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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