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Rapaport TradeWire October 25, 2018
Oct 25, 2018 10:32 AM
By Rapaport
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| October 25, 2018 | | RAPAPORT MARKET COMMENT |  | | Polished trading improving, with US holiday orders driving sales. Buyers looking for bargains in Mumbai as weak currency and tighter bank lending put pressure on Indian dealers. Surat factories closing early for Diwali, with large inventories of melee and 30-pointers. Innovative jewelers gaining market share as JBT reports 226 businesses closed and 51 opened in 3Q. China/Hong Kong jewelry retail better than expected, with gold sales driving Chow Tai Fook 2Q double-digit growth. Rough trading slow. Alrosa sales volume -11% to 6.7M cts., production +2% to 10.5M cts. De Beers sales volume -28% to 5M cts., production -5% to 8.7M cts. Lucara to launch sales using Clara system.
| | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.53% | -2.01% | 4.73% | | 0.50 ct | -0.34% | -0.70% | 4.20% | | 1.00 ct | -0.27% | -0.81% | 0.78% | | 3.00 ct | 0.00% | -0.01% | -1.41% |  | | 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: Demand firm for large diamonds in lower qualities... |  |  | Belgium: Rough market cautious as inventory levels rise before Diwali... | | |  | Israel: Dealers to sell to Chinese consumers through AliExpress... | | |  | India: Small stones slow, but VVS stars and melee better... | | |  | Hong Kong: Jewelers holding large inventory and avoiding bulk purchases due to unfavorable exchange rates... | | |  | | | Podcast: What the Sears Failure Means for You |  | | WITH John Costello | In the latest Rapaport Diamond Podcast, the editorial team discusses the bankruptcy of retail giant Sears Holdings Corp., and what the jewelry industry has to fear. We also look at what jewelers need to do to attract business in the holiday season, and interview Aleah Arundale, founder of successful Facebook group Jewelers Helping Jewelers. Plus: After the Gemological Institute of America (GIA) named a new mineral crowningshieldite, what would you call a chemical compound if you discovered one? |  | | | WEEKLY NEWS | | industry | | | | US Jewelry Trade Shrinks by Nearly 5% | | 226 companies close in third quarter, while 51 open, says JBT. |  | | | More Brands Quit Baselworld 2019 | | Raymond Weil, Corum and Maurice Lacroix follow Swatch Group’s example. | | | | | Violence Limiting CAR Diamond Exports | | Massacres continue to plague nation’s eastern region. | | | | | Brexit Could Halt UK Rough Trade | | Failure to agree on EU deal would jeopardize country’s KP membership, government warns. | | | | | ICICI Bank Sues Shrenuj Executives | | Indian lender alleges complex loan fraud at manufacturer and its subsidiaries. | | | | | retail | | | | Rosy Blue Objects to Sears Sell-Off Plan | | Supplier concerned bankrupt retailer may liquidate its consignment goods. | | | | | Kering Posts Strong Jewelry Performance | | New collections and extended lines from Boucheron, Pomellato and Qeelin drive growth. | | | | | Hong Kong Jewelers See Revenue Spike | | Consumer demand and low gold price raise performance at Chow Tai Fook and Luk Fook. | | | | | Ex-Tiffany Exec Joins Louis Vuitton | | Catherine Lacaze also worked at Harry Winston and Cartier. | | | | | Holiday Spending to Rise Despite Tariffs | | Consumers will shell out 4% more this season than a year ago. | | | | | mining | | | | De Beers Production and Sales Slide | | Scheduled mine adjustments result in 5% decline in third-quarter output. | | | | | Shift to Larger Diamonds Boosts Alrosa | | Average price of gem-quality rough jumps 18% in third quarter. | | | | | Lucara to Hold Debut Sale on Clara Platform | | Digital system will complement miner’s existing tenders. | | | | | Indian Slowdown Dents Mountain Province Sales | | Weaker rupee and low seasonal demand lead to drop. | | | | | Higher-Value Stones Lift Petra Revenue | | Sales up 22% in first quarter. | | | | | Lucapa Prepares to Sell Mothae Diamonds | | Miner to launch commercial production in November. | | | | | general | | | | CIBJO Urges Diamond Consultation with FTC | | Delegates at Bogotá congress call for clearer message to consumers. | | | | | Lozenge Emerald Sweetens Sotheby’s Sale | | 11-carat gemstone fetches more than double its estimate. | | | | | ‘Diamonds Are a Girl’s Best Friend’ Nets $50K | | Owner of Marilyn Monroe estate buys trademarks that belonged to Nirav Modi companies. | | | | | Carat+ Postpones 2019 Show | | Organizers cite lack of interest from exhibitors and visitors. | | | | | First Chinese Retailer Joins GIA’s M2M | | Laelim partners with IGC Group on the diamond-tracking project. | | | | | Swiss Watch Exports See First Drop in 18 Months | | Shipments down 7% in September. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Trade-war fears continue to plague US and Hong Kong retail stocks, with J.C. Penney (-7%), Signet (-12%), Tiffany (-4.7%) and Chow Sang Sang (-9%) all down. Kering (+3.5%) shares rose after the company reported positive third-quarter results. Mining shares were also negative, with Gem Diamonds (-14%) falling as concern over Brexit grew, and Stornoway Diamond (-11%) continuing its descent following weak results. | | | | | 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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