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Rapaport TradeWire July 26, 2018
Jul 26, 2018 11:03 AM
By Rapaport
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| July 26, 2018 | | RAPAPORT MARKET COMMENT |  | | Summer lull continues, with some improvement as US dealers return from vacation. Prices slightly softer due to seasonal slowdown. Suppliers optimistic for 2H amid US and China jewelry growth, despite trade tensions. US jewelers improving efficiency with customization and omni-channel as 477 retailers closed in 1H vs. 445 last year. Indian cutters cautious due to weak rupee and tighter credit, as banks cut lending -10% since alleged $2B Nirav Modi fraud. De Beers 1H revenue +2% to $3.2B, underlying earnings -41% to $202M, rough prices +1.6%. Alrosa 1H production -17% to 15.9M cts. LVMH 1H jewelry and watch sales +8% to $2.3B. Federal Trade Commission classifies lab-grown as a diamond. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.10% | 2.33% | 6.65% | | 0.50 ct | -0.14% | -0.23% | -0.46% | | 1.00 ct | -0.28% | 0.11% | 0.94% | | 3.00 ct | 0.35% | 0.14% | 2.58% |  | | 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: Retail sentiment positive, despite trade-war fears... |  |  | Belgium: Suppliers holding firm on prices, expecting stronger orders after August break... | | |  | Israel: Activity slowing ahead of bourse summer vacation (August 5 to 17)... | | |  | India: Domestic demand weak due to higher rupee diamond prices after currency depreciation... | | |  | Hong Kong: US tariffs on Chinese goods threatening consumer outlook... | | |  | | | Who Are the Top Rough-Diamond Buyers? |  | | WITH Avi Krawitz | The latest issue of the Rapaport Research Report outlines the state of the rough-diamond market and the journey goods take from mining to manufacturing. In this excerpt, we list the 124 companies buying from De Beers, Alrosa, Rio Tinto and Dominion Diamond Mines. |  | | | WEEKLY NEWS | | industry | | | | Lab-Grown Diamonds Are Diamonds, Says FTC | | US consumer agency sides with synthetics maker over key definition. |  | | | Indian Banks Slash Lending by 10% | | Post-Modi credit crisis will cause corresponding drop in jewelry exports, says GJEPC. | | | | | AIGS Warns About Fake Gem Reports | | Counterfeits include working QR code that links to bogus website. | | | | | retail | | | | Bulgari Drives LVMH Jewelry Growth | | Division revenue up 8%, operating profit soars 46% in first half. | | | | | Hong Kong Sales Boost Luk Fook | | Purchases of gold and gem-set jewelry in the municipality rise 26% in the first quarter. | | | | | Pandora Cuts China Prices to Combat Grey Market | | Unauthorized online sales have damaged the jeweler’s Asian revenue. | | | | | Jewelry Lifts Swatch Sales and Profit | | First-half proceeds up 15%. | | | | | mining | | | | Higher Costs Dent De Beers Earnings | | Miner maintains positive outlook for rest of the year. | | | | | Petra Drops After Weak Production Outlook | | Shares dive as company lowers forecast. | | | | | Alrosa Sales Fall Amid Lower Supply | | Revenue down 7% in second quarter; diamond recovery drops 18%. | | | | | Higher Grades Boost Mountain Province | | Gahcho Kué yield increases 20% in second quarter. | | | | | Firestone Sees Strong Bigger-Stone Demand | | 1 carat and higher doing well; run-of-mine goods less so. | | | | | Lucapa Sells $2M of Rough from Lulo Mine | | Stones fetch average price of $800 per carat. | | | | | Zimbabwe Output Soars in First Half | | Production up 44% to 1.6 million carats, says state miner. | | | | | Alrosa to Begin Production on $1B Asset | | Zarya deposit estimated to contain 3.5 million carats. | | | | | general | | | | US Polished Imports Rise in May | | Shipments increase 7% year on year. | | | | | Three People Join JA Board | | New directors include Signet corporate-affairs chief David Bouffard. | | | | | High-End Watches Drive Export Growth | | Swiss trade enjoys stronger demand for top-priced timepieces in June. | | | | | Mumbai Gem Center Rebrands as IIG | | SRDC changes name to International Institute of Gemology. | | | | | Israel’s Polished Exports Fall | | Figure down 6% in first half. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Several miners saw their share prices decline this past week. Petra Diamonds fell (-12%) after lowering its production forecast for fiscal 2019, while Alrosa (-2.4%) reported a drop in output and revenue. Stornoway Diamond (-6%) also lost ground, though Firestone Diamonds (+6%) gained after robust quarterly sales. The US-China trade war continued to affect Hong Kong retailers, with Luk Fook (-4.1%) and Chow Sang Sang (-1.8%) both down. | | | | | 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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