|
|
Rapaport TradeWire August 23, 2018
Aug 23, 2018 10:39 AM
By Rapaport
|
|
|
| August 23, 2018 | | RAPAPORT MARKET COMMENT |  | | Polished trading quiet, with inventory rising after slow summer. Suppliers keeping prices firm, hoping for strong Hong Kong show. Chinese buyers shifting to lower qualities, with steady demand for 3VG goods, as weaker yuan currency squeezes budgets. US demand steady, but consumer sentiment down, reflected in households purchasing fewer big-ticket items, according to University of Michigan. Macy’s and J.C. Penney list jewelry among top sellers in 1H. Rio Tinto opens A21 pipe at Diavik mine. Okavango 1H sales volume -2% to 1.8M cts. India July polished exports +12% to $1.8B, rough imports +26% to $1.7B. Sarine to provide rough-mapping technology to Lucara’s Clara blockchain. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.31% | -1.30% | 6.71% | | 0.50 ct | -0.31% | -0.23% | 1.37% | | 1.00 ct | 0.23% | -0.25% | 1.46% | | 3.00 ct | 0.70% | -1.13% | 2.40% |  | | 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: Market stable, with some activity during India week at the New York Diamond Dealers Club... |  |  | Belgium: More orders from Hong Kong and China, fueling some optimism for next month’s Hong Kong Jewellery & Gem Fair... | | |  | Israel: Steady requests for 1 ct., G-J, VS-SI diamonds, but overall not a lot of orders coming in... | | |  | India: Manufacturers restrained and not raising polished production before Diwali break... | | |  | Hong Kong: Some concern for retail sector during upcoming October Golden Week, after stock markets declined and Chinese yuan currency depreciated... | | |  | | | Five Features Steering De Beers’ Future |  | | WITH Avi Krawitz | To ensure long-term growth, De Beers has consciously shifted from being a volume-driven miner to being a brand-centric corporation. The August edition of the Rapaport Research Report breaks down the five elements shaping the company’s strategy going forward. |  | | | Their Own Brand of Trouble |  | | WITH Joshua Freedman | Proprietary cuts are a more complicated business than you might think. The costs can be prohibitively high, even for larger companies, and the weak prices of non-round goods mean there’s no guarantee the venture will boost profits. | | | | | WEEKLY NEWS | | industry | | | | Moshe Lax Faces $62M Fraud Lawsuit | | Diamantaire and family allegedly made “sham transactions” to evade taxes. |  | | | India Dealing in Higher-Value Diamonds | | Polished exports and rough imports rise by double-digit percentages in July. | | | | | Okavango Revenue Falls in First Half | | Proceeds down 16% amid limited rough supply. | | | | | Fake Emerald Comprises Slabs of Glass | | Stone has natural beryl core, but the rest is painstaking fabrication, GIA reports. | | | | | retail | | | | US Retail Sales Up in July, Says NRF | | Fine-jewelry category remains strong at J.C. Penney and Macy’s. | | | | | Royal Asscher Launches Flagship Store in Japan | | Fukuoka boutique follows opening of Tokyo branch last year. | | | | | American-Made Jewelry Gaining Favor, Says MVI | | Self-purchasing women are increasingly buying US products, according to CEO Marty Hurwitz. | | | | | mining | | | | Lucara, Sarine Partner for Rough Program | | Diamonds on Clara platform will undergo tech company’s digital mapping. | | | | | Rio Tinto Opens New Pipe at Diavik | | A21 is the fourth pipe at the asset. | | | | | Zambian Tax Authority Raids Gemfields Mine | | Government seizes documents and files from site. | | | | | general | | | | Hong Kong Powers Swiss Watch Exports | | Sector sees 7% jump in July thanks to Asian demand. | | | | | Dubai Rough Tender Garners $21M | | Stones fetch an average $823.80 per carat. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | J.C. Penney (-26%) stock plunged after the company announced a drop in second-quarter earnings, standing out from a generally positive retail week that saw gains for Macy’s (+7%), Signet (+5%), Tiffany (+3.3%) and Walmart (+6%). Mining stocks suffered, meanwhile, with Lucapa (-8%), Firestone Diamonds (-7%), Stornoway Diamond (-1.4%) and Gem Diamonds (-1.3%) all falling. Mountain Province (+10%) enjoyed a rise in its share price after being upgraded by analyst BMO Capital Markets. | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|