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Rapaport TradeWire September 20, 2018
Sep 20, 2018 11:08 AM
By Rapaport
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| September 20, 2018 | | RAPAPORT MARKET COMMENT |  | | 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 The Rapaport Price List will not be published next Friday (Sep. 28), and Rapaport offices will be closed on Monday and Tuesday (Sep. 24-25) for the Jewish festival of Sukkot. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | 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% |  | | 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. | | | | WEEKLY NEWS | | industry | | | | Mixed Trading at Stormy Hong Kong Show | | Activity erratic due to typhoon and religious holidays. |  | | | GIA, Chow Tai Fook Unveil Digital Grading Report | | Blockchain-powered app provides data showing diamond’s journey from mine to market. | | | | | Sotheby’s to Sell Rare 5ct. Blue Diamond | | Ring carries an estimate of $12.5 million to $15.3 million. | | | | | retail | | | | Global Jewelry Sales Up 5%, Says Alrosa | | Asian growth drives overall increase in second quarter. | | | | | Chow Tai Fook Says No to Synthetics | | Chinese consumers are not interested in the category, argues Hong Kong-based retailer. | | | | | Tiffany Showcases New Bridal Line | | Engagement rings feature original design and diamond cut. | | | | | mining | | | | Petra Boss Steps Down Amid $203M Loss | | Johan Dippenaar to leave as miner reviews leadership structure. | | | | | Lucapa to Sell Large Diamonds from Lulo | | Miner held back 449 carats of big stones until new law was in effect. | | | | | Alrosa Israel Auction Garners $16M | | Stones fetch average of $5,975 per carat. | | | | | general | | | | IDE Appoints New Managing Director | | Eran Zini formerly ran a vocational rehabilitation company. | | | | | Macau Exchange Targets Rough Trading | | Bourse signs deal with Chinese bank to promote city as global diamond center. | | | | | Rolex US Chief Earns Lifetime Award | | Jewelers of America honors Stewart Wicht. | | | | | GSI Opens New York Screening Facility | | Location will serve as synthetics-testing hub for US manufacturers and retailers. | | | | | DEF Establishes First Scholarship | | Association partners with Mandela Institute for Development Studies. | | | | | MJSA Awards $10K to Students | | Three winners take home grants for jewelry education. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | 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%). |  | | | 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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