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Rapaport TradeWire September 20, 2018

Sep 20, 2018 11:08 AM   By Rapaport
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Rapaport TradeWire
September 20, 2018
RAPAPORT MARKET COMMENT
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Trading centers quiet during Jewish holiday period. Hong Kong show reflects uncertainty over US-China trade tensions, with Typhoon Mangkhut disrupting activity at the fair. Slower growth expected in 2H as Chinese consumer sentiment weakens ahead of Oct. 1 Golden Week. Steady demand for 0.30 to 1 ct., G-L, VS-SI diamonds. Rough market cautious, with lower supply for pre-Diwali manufacturing. Johan Dippenaar resigns as CEO of Petra Diamonds after FY sales +25% to $495M, loss of $203M vs. profit of $21M. The Rapaport Price List will not be published next Friday (Sep. 28), and Rapaport offices will be closed on Monday and Tuesday (Sep. 24-25) for the Jewish festival of Sukkot.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.82% -1.75% 6.00%
0.50 ct -0.45% -0.74% 2.30%
1.00 ct -0.04% -0.20% 0.97%
3.00 ct -0.21% -0.28% -1.51%
RAPI Yearly Graph
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UPS AND DOWNS
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Best Jewelry at the Emmy Awards
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TrueFacet Helps Luxury Brands with E-Commerce
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Latest US Tariffs May Affect Jewelers
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Model Hands Over $8M of Bling from Accused Ex
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Trade Wire 600X160 April 2018
WEEKLY NEWS
industry
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Mixed Trading at Stormy Hong Kong Show
Activity erratic due to typhoon and religious holidays.
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GIA, Chow Tai Fook Unveil Digital Grading Report
Blockchain-powered app provides data showing diamond’s journey from mine to market.
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Sotheby’s to Sell Rare 5ct. Blue Diamond
Ring carries an estimate of $12.5 million to $15.3 million.
retail
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Global Jewelry Sales Up 5%, Says Alrosa
Asian growth drives overall increase in second quarter.
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Chow Tai Fook Says No to Synthetics
Chinese consumers are not interested in the category, argues Hong Kong-based retailer.
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Tiffany Showcases New Bridal Line
Engagement rings feature original design and diamond cut.
mining
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Petra Boss Steps Down Amid $203M Loss
Johan Dippenaar to leave as miner reviews leadership structure.
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Lucapa to Sell Large Diamonds from Lulo
Miner held back 449 carats of big stones until new law was in effect.
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Alrosa Israel Auction Garners $16M
Stones fetch average of $5,975 per carat.
general
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IDE Appoints New Managing Director
Eran Zini formerly ran a vocational rehabilitation company.
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Macau Exchange Targets Rough Trading
Bourse signs deal with Chinese bank to promote city as global diamond center.
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Rolex US Chief Earns Lifetime Award
Jewelers of America honors Stewart Wicht.
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GSI Opens New York Screening Facility
Location will serve as synthetics-testing hub for US manufacturers and retailers.
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DEF Establishes First Scholarship
Association partners with Mandela Institute for Development Studies.
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MJSA Awards $10K to Students
Three winners take home grants for jewelry education.
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FINANCE
Diamond Industry Stock Report
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Shares in Lucapa Diamond Corp. (-2.1%) fell as the miner’s first-half losses deepened, while the discovery of a new kimberlite at Gahcho Kué contributed to a rise in Mountain Province’s stock (+3.5%). Higher nickel and zinc prices boosted Anglo American (+12%) and Rio Tinto (+7%). Petra Diamonds (+8%) increased after it announced the departure of its CEO. Lucara Diamond (+8%) also climbed, as did US retailer J.C. Penney (+9%).

Rapnet Trade Wire
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