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Rapaport TradeWire October 18, 2018

Oct 18, 2018 11:03 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
October 18, 2018
RAPAPORT MARKET COMMENT
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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.

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RAPNET DIAMOND INDEX (RAPI)
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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%
RAPI Yearly Graph
Usny Tw Oct 14 2018
Market Reports
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United States: Stable market as jewelers prepare for the holiday season...
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Belgium: Rough activity cautious, with De Beers boxes trading at lower premiums...
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Israel: Little excitement about Israel Diamond Week in New York (Oct. 15 to 17)...
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India: Small-scale manufacturers under pressure as domestic demand for under-0.25 ct. goods declines...
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Hong Kong: Encouraging initial reports about Oct. 1 Golden Week sales and ongoing wedding season...
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17 Oct 2018 Trade Wire Banner C Zvi Yehuda
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.

UPS AND DOWNS
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Lady Gaga Sports Pink Padparadscha Engagement Ring
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Brick-and-Mortar Stores Drive Online Sales
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CAR Militia Kills 30 in Battle Over Mine Control
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Surat Trade Allegedly Denying Workers Provident Funds
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Trade Wire 600X160 April 2018
WEEKLY NEWS
industry
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Christie’s to Sell 24ct. Marilyn Monroe Diamond
Star wore Moon of Baroda at 1953 release of “Gentlemen Prefer Blondes.”
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CIBJO Urges Better Control of Gemstone Supply
Group’s president calls for monitored “chokepoints” to combat black market.
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Financiers Pledge $125M to Botswana Trade
Funds are second portion of a $250 million loan guarantee.
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Three Las Vegas Shows Partner for June Events
AGTA, Antique and Premier will take place in one location.
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Israel Trade Signs Alibaba Consumer Deal
Exchange to offer loose diamonds on luxury site Ali Auction.
retail
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Lack of Marketing Hits Michael Hill
Sales down 9% in first fiscal quarter.
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Japan Jeweler Debuts Ginza Store and Brand
Products on offer are more affordable than company’s existing line.
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Pandora Stock Soars Amid Takeover Rumors
Danish jeweler reportedly hires Rothschild to assess potential deals.
mining
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Indian Demand Weak at $475M De Beers Sale
New sightholder contract to run until 2020.
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Gem Diamonds Recovers 357ct. Rough
Stone is 13th over 100 carats the miner has found this year.
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Production Falls in Rio Tinto’s Third Quarter
Carat recovery drops 19% at Argyle mine and 9% at Diavik.
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Alrosa’s New York Auction Yields $8M
Sale featured 108-carat rough diamond.
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Stornoway Notes Poor Small-Stone Market
Average price declines quarter-on-quarter due to drop in India demand.
general
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Emeralds Top Princess Eugenie’s Wedding Look
Bride sports tiara and earrings featuring the colored gemstone.
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Bonhams Gets New Jewelry Director
Brett O’Connor was previously a lead auctioneer at Sotheby’s.
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India’s Polished Exports Drop
Slump in volume outweighs higher average price in September.
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Correction: De Beers Jewellers
An article about the retail brand incorrectly referred to sales.
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FINANCE
Diamond Industry Stock Report
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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.

Rapnet Trade Wire
10 10 18 Auction Tw Square October Ss Auction
15 Aug 2018 Rap Net Instant Inventory
11 Jul 2018 Rap Ac Digital 300X300Px Static
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