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Rapaport TradeWire November 8, 2018
Nov 8, 2018 10:29 AM
By Rapaport
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| November 8, 2018 | | RAPAPORT MARKET COMMENT |  | | Polished trading slow as Indian market shuts for Diwali. Dealers focused on US orders ahead of holiday season, but hoping for boost from China’s 11/11 Singles’ Day. Alibaba expanding diamond and jewelry platform, enabling Belgian and Israeli suppliers to sell directly to consumers. US e-commerce expected to rise 15% in Nov.-Dec. Rough trading cautious ahead of De Beers sight as manufacturers hold large inventory during Diwali break. Alrosa cuts FY sales forecast due to weak small-stone demand, reports 3Q revenue +20% to $1B, profit +87% to $366M. US Aug. polished imports +16% to $1.8B. Israeli police arrest Leviev employees and relatives on diamond-smuggling allegations. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.10% | -1.27% | 4.67% | | 0.50 ct | -0.08% | -0.69% | 4.20% | | 1.00 ct | 0.13% | -0.47% | 1.10% | | 3.00 ct | -0.18% | -2.10% | -3.37% |  | | 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: Retail sales stable, but holiday traffic has yet to begin... |  |  | Belgium: Low-quality fancy-color diamonds weak, with a lot of available inventory... | | |  | Israel: Some dealers focused on refining online offering ahead of China’s Singles’ Day festival... | | |  | India: Jewelers report encouraging sales during Diwali, boosted by lower gold prices due to weak rupee... | | |  | Hong Kong: Chinese retail sales robust, but wholesalers cautious due to currency uncertainties and trade tensions... | | |  | | | Everything Changes, Some Things Stay the Same |  | | WITH Avi Krawitz | Behind the debate regarding what language to use when referring to a diamond lies a deep concern about the growing acceptance of synthetics. De Beers’ entry into the lab-grown market and the Federal Trade Commission’s revised definition of what constitutes a diamond have exposed a need for trade groups to be more proactive in dealing with the many challenges facing the natural-diamond market. |  | | | WEEKLY NEWS | | industry | | | | Diamond Prices Slide Before Diwali Break | | 1-carat RAPI down 0.9% in October. |  | | | Alibaba Strikes Deal with Belgian Trade | | Chinese e-commerce site will work with HRD Antwerp and AWDC. | | | | | Police May Question Lev Leviev over Smuggling | | Six relatives and employees of diamond mogul arrested, reports say. | | | | | IDMA, WFDB Consider Joining Forces | | Downsizing of cutting sector has hurt the manufacturing association’s membership. | | | | | retail | | | | US Online Holiday Sales to Jump 15% | | Retailers with both a physical and an e-commerce presence will perform best, says Adobe Analytics Data. | | | | | Pandora Slashes Full-Year Forecast | | Retailer will slow its acquisitions of franchisees and open fewer stores. | | | | | Lower Prices Boost Gold-Jewelry Demand | | Indian market for the metal grew 10% in the third quarter. | | | | | Typhoon Hits Hong Kong Luxury Sales | | Growth slows as September storm affects tourism. | | | | | First Graff Canada Boutique to Open at Birks | | Standalone store will exclusively house the luxury jeweler’s products. | | | | | mining | | | | Alrosa Lowers Full-Year Sales Outlook | | Miner notes weaker demand for small diamonds in second half. | | | | | Lucapa Finds New Source at Lulo Mine | | Miner recovers 55-carat stone at alluvial exploration site. | | | | | Namdia Garners $143M in First Annual Sales | | Namibia’s rough-diamond division plans to expand client base. | | | | | Firestone Unearths 326ct. Diamond | | Low prices of small stones dent quarterly revenue. | | | | | Diamcor to Offer Additional Diamonds at Tender | | More than 5,000 supplementary carats will be up for sale. | | | | | general | | | | 109ct. Sapphire Necklace Leads Christie’s Auction | | Piece could set new world record in Hong Kong. | | | | | US Polished Imports Continue to Grow | | Higher volumes drive August increase. | | | | | DEF Offers Botswana Trip to Contest Winners | | Participants must submit video about their proposal and the meaning of their diamond. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Shares in Pandora (-15%) fell after the company lowered its revenue outlook for the year. Other retailers had a stronger week, with stock prices up at Birks (+12%), Macy’s (+9%), Signet (+8%), Tiffany (+5%) and Walmart (+4%). Weakness in the small-stone market continued to hamper Stornoway Diamond (-9%), Mountain Province (-6%) and Firestone Diamonds (-4%), while Gem Diamonds (+9%) climbed after the miner increased its full-year sales-and-production forecast. | | | | | 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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