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Rapaport TradeWire October 18, 2018
Oct 18, 2018 11:03 AM
By Rapaport
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| October 18, 2018 | | RAPAPORT MARKET COMMENT |  | | Melee weak and prices softening as rupee depreciation (-8% in three months to INR 73.53/$1 on Oct. 18) impacts Indian demand. Threat of undisclosed synthetics also influencing jewelers to avoid melee inventory. US orders and memo for 0.70 to 1.99 ct. diamonds supporting the market. Sears files for bankruptcy, highlighting need for retailers to innovate, improve in-store and online customer engagement, and refresh product offering for holiday season. Michael Hill 1Q sales -9% to $80M. Rough trading cautious, with De Beers prices estimated -1% at $475M Oct. sight. Rio Tinto 3Q production -17% to 4.9M cts. US government guarantees Stanbic Bank $125M loan for Botswana manufacturing. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.48% | -2.02% | 5.30% | | 0.50 ct | -0.11% | -0.91% | 4.55% | | 1.00 ct | -0.28% | -0.99% | 1.05% | | 3.00 ct | -0.20% | 0.27% | -1.22% |  | | 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: Stable market as jewelers prepare for the holiday season... |  |  | Belgium: Rough activity cautious, with De Beers boxes trading at lower premiums... | | |  | Israel: Little excitement about Israel Diamond Week in New York (Oct. 15 to 17)... | | |  | India: Small-scale manufacturers under pressure as domestic demand for under-0.25 ct. goods declines... | | |  | Hong Kong: Encouraging initial reports about Oct. 1 Golden Week sales and ongoing wedding season... | | |  | | | How Retailers Can Entice Chinese Tourists |  | | WITH Joshua Freedman | Vacationers and expats are a burgeoning market for luxury abroad, but sellers have to get their branding right.
|  | | | WEEKLY NEWS | | industry | | | | Christie’s to Sell 24ct. Marilyn Monroe Diamond | | Star wore Moon of Baroda at 1953 release of “Gentlemen Prefer Blondes.” |  | | | CIBJO Urges Better Control of Gemstone Supply | | Group’s president calls for monitored “chokepoints” to combat black market. | | | | | Financiers Pledge $125M to Botswana Trade | | Funds are second portion of a $250 million loan guarantee. | | | | | Three Las Vegas Shows Partner for June Events | | AGTA, Antique and Premier will take place in one location. | | | | | Israel Trade Signs Alibaba Consumer Deal | | Exchange to offer loose diamonds on luxury site Ali Auction. | | | | | retail | | | | Lack of Marketing Hits Michael Hill | | Sales down 9% in first fiscal quarter. | | | | | Japan Jeweler Debuts Ginza Store and Brand | | Products on offer are more affordable than company’s existing line. | | | | | Pandora Stock Soars Amid Takeover Rumors | | Danish jeweler reportedly hires Rothschild to assess potential deals. | | | | | mining | | | | Indian Demand Weak at $475M De Beers Sale | | New sightholder contract to run until 2020. | | | | | Gem Diamonds Recovers 357ct. Rough | | Stone is 13th over 100 carats the miner has found this year. | | | | | Production Falls in Rio Tinto’s Third Quarter | | Carat recovery drops 19% at Argyle mine and 9% at Diavik. | | | | | Alrosa’s New York Auction Yields $8M | | Sale featured 108-carat rough diamond. | | | | | Stornoway Notes Poor Small-Stone Market | | Average price declines quarter-on-quarter due to drop in India demand. | | | | | general | | | | Emeralds Top Princess Eugenie’s Wedding Look | | Bride sports tiara and earrings featuring the colored gemstone. | | | | | Bonhams Gets New Jewelry Director | | Brett O’Connor was previously a lead auctioneer at Sotheby’s. | | | | | India’s Polished Exports Drop | | Slump in volume outweighs higher average price in September. | | | | | Correction: De Beers Jewellers | | An article about the retail brand incorrectly referred to sales. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Continued trade-war fears hit US and Hong Kong retail stocks, with J.C. Penney (-14%), Macy’s (-2.8%), Chow Tai Fook (-10%) and Chow Sang Sang (-4.3%) all down. Signet (-3.9%) slid after Oppenheimer Asset Management reportedly cut its stake in the company by a third, while Michael Hill (-25%) plunged after disappointing sales. Stornoway Diamond (-6%) also lost ground following weak results. Miners Mountain Province (-2.4%) and Lucara (-3.2%) fell as well. | | | | | 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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