|
Rapaport TradeWire August 16, 2018
Aug 16, 2018 11:28 AM
By Rapaport
|
|
August 16, 2018 | RAPAPORT MARKET COMMENT | | Diamond markets quiet and conservative, with dealers in Belgium and Israel returning from vacation next week. Diamantaires hoping September Hong Kong fair will stimulate stronger 4Q polished trading. IIJS show sees busy gold-jewelry section, but wholesalers cautious as rupee depreciates to INR 70/$1 for the first time. Rough demand stable as cutters prepare for holiday orders. Alrosa July sales +16% to $339M, starts testing ruble payments for rough. Sarine 2Q sales -1% to $18M, profit +28% to $4M. Belgium July polished exports +8% to $1.1B, rough imports +23% to $956M. Tiffany to refurbish 5th Avenue flagship store. De Beers appoints Jim Duffy to head Tracr blockchain program. | | RAPNET DIAMOND INDEX (RAPI™) | | | Weekly | Monthly | Y2Y | 0.30 ct | -0.17% | -1.02% | 6.80% | 0.50 ct | 0.08% | 0.04% | 1.28% | 1.00 ct | -0.34% | -0.40% | 1.09% | 3.00 ct | -0.16% | -1.71% | 2.10% | | 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: Some caution in jewelry retail sector, with lower-than-expected July and August sales... | | | Belgium: Dealers concerned about growing acceptance of synthetics, and are calling for more effective lobbying from industry leadership... | | | Israel: Trading slow during ongoing vacation period... | | | India: Retailers looking for lower price points, with lightweight gold and fancy-shape diamonds proving popular... | | | Hong Kong: Recent stock market drop dampening retail sentiment... | | | | Trade ‘Blind to Diamond-Swapping Threat’ | | WITH Joshua Freedman | Diamond dealers are failing to protect themselves against stone-swapping, and are instead waiting until an expensive loss occurs before taking action, equipment suppliers have warned. | | | Diamond Resources Might Not Be Forever | | WITH Leah Meirovich | With the supply of natural stones diminishing worldwide, what repercussions can the industry expect? | | | WEEKLY NEWS | industry | | GIA Spots Broken Diamond Glued Back Together | Two halves attached using “unknown adhesive.” | | | De Beers Hires Tech Exec to Lead Blockchain | Jim Duffy will oversee Tracr platform’s growth. | | | Melee Parcel Contains Just One Natural Stone | The rest of the 1,093 diamonds were undisclosed HPHT synthetics, reports GIA. | | | Weak Rupee Raises Hopes for Indian Exports | Gem and jewelry shipments to reach $70 billion in coming years, says trade group. | | | retail | | Tiffany to Revamp New York Flagship Store | Three-year project will make iconic branch more innovative and interactive. | | | Harrods Names New Head of Watches and Jewelry | Annalise Fard takes over from Helen David. | | | Hearts on Fire Promotes Three to VP | Executives will be in charge of product, sales and trade-strategy divisions. | | | Kingold Sees Spike in China Gold Demand | Supplier’s revenue jumps 43%, profit up 69% in second quarter. | | | mining | | Alrosa Taking Diamond Payments in Rubles | Process is potentially faster and simpler than dollar transactions, Russian miner says. | | | Letšeng Yields 12th Huge Stone in Record Haul | Latest find is 138-carat, top-white diamond. | | | Steady Rough Market Boosts Alrosa Sales | July revenue up 16% due to less-pronounced summer slowdown than a year ago. | | | Currency Decline Hits Mountain Province | Miner in the red as fluctuating exchange rates inflate debt levels. | | | Stornoway Reports Loss Amid Renard Delays | Transition to underground mining has taken longer than the company expected. | | | general | | Drop in India Orders Dents Sarine Sales | Reduced purchases lead to 1.1% decrease. | | | H.K. Designs to Polish Endless Diamond Brand | Company signs exclusive licensing agreement with Fantasy Diamond Corp. | | | AGTA Winner Features 7ct. Russian Emerald | Joseph Ambalu of Amba Gem Corp. takes top award. | | | Belgium Trade Increases in July | Polished exports grow 8% as average price rises 13%. | | | JA Hires Duo to Improve Engagement | Elizabeth Brewer and Mark Smelzer will join US trade organization as consultants. | | | GJEPC Tightens Ties with Shenzhen | Indian group to open office in Chinese rough-diamond exchange. | | | | FINANCE | Diamond Industry Stock Report | | The trade war with the US continued to hit the greater China retail market, with Chow Tai Fook (-7%) heading the declines in the region. Tiffany (-8%) dropped after investment bank Oppenheimer & Co. downgraded the jeweler’s stock, citing the potential impact of the weak Chinese yuan on tourist spending at US stores. Macy’s (-12%) fell after a quarterly sales decrease. Mining shares also tumbled, with Mountain Province (-14%) and Stornoway Diamond (-14%) both down after reporting losses. Weak Chinese economic data hit copper prices, resulting in a slide at diversified miners including Anglo American (-10%) and Rio Tinto (-5%). Firestone Diamonds (-6%) and Petra Diamonds (-6%) also lost ground. In Europe, Turkey’s currency crisis led to declines at luxury retailers, with Swatch Group (-6%) the weakest performer. | | | Contact Us | | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|