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Rapaport TradeWire February 14, 2019
Feb 14, 2019 9:45 AM
By Rapaport
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February 14, 2019 | RAPAPORT MARKET COMMENT | | Polished market improving, with suppliers selling at lower prices to generate liquidity. Rough trading cautious as high rough prices and weak polished continue to squeeze midstream profits. Shortages of top-make goods due to reduced manufacturing, but large inventory of leftover lower-quality diamonds. Chinese government reports retail sales +9% during 7-day Lunar New Year holiday. High-end luxury robust as Boucheron owner Kering sees strong growth in US and Asia. NRF expects jewelry to top list of Valentine’s Day gifts. Alrosa Jan. sales -44% to $282M. Belgium Jan. polished exports -4% to $777M, rough imports -33% to $727M. Rapaport announces Trade Mission to Surat April 8-11. | | RAPNET DIAMOND INDEX (RAPI™) | | | Weekly | Monthly | Y2Y | 0.30 ct | -0.42% | -1.24% | -8.10% | 0.50 ct | -0.55% | -0.60% | -1.74% | 1.00 ct | -0.23% | -0.32% | -2.59% | 3.00 ct | -0.35% | -1.56% | -5.94% | | 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: Buyers are looking for deals and are able to push suppliers’ prices lower... | | | Belgium: Rough trading cautious, with De Beers and Alrosa products selling at lower premiums on the secondary market... | | | Israel: Dealers concentrating on the US while Far East returns from Chinese New Year break... | | | India: Little buzz around IIJS Signature fair, but steady gold jewelry market for wedding season... | | | Hong Kong: Activity expected to pick up in next two weeks ahead of Hong Kong show, which starts Feb. 28... | | | | Rapaport Trade Mission to Surat, India | | Monday, April 8, through Thursday, April 11 | Surat is home to an estimated 500,000 diamond cutters, who manufacture over 90% of the world’s polished diamonds. This visit is an opportunity to gain a unique insight into the supply chain. | | | WEEKLY NEWS | retail | | Engagement-Ring Demand Fell in 2018 – Poll | Couples spending less on nuptials overall, says The Wedding Report. | | | Jewelry to Top Valentine’s Day Purchasing | National Retail Federation expects revenues to hit $3.9 billion for the category. | | | Helzberg Diamonds Launches Synthetics Line | Items range from $400 to $9,000, according to website. | | | Asian Demand Drives Kering Jewelry Growth | Boucheron owner sees 7% revenue increase for the division in 2018. | | | industry | | IGDA: Lab-Grown Diamonds Poised for Upswing | Category is making headway in bridal segment, association says. | | | GIA Spots CVD Stone in Parcel of Treated Melee | Institute rarely finds irradiated synthetics of this type and size. | | | Gübelin Testing Nano-Tracking for Diamonds | Swiss lab studying ways of broadening its Emerald Paternity Test. | | | HRD Grades First Lab-Grown All-Diamond Ring | Dutch company’s “Project D” piece weighs 3.87 carats. | | | mining | | January Slowdown Hits Alrosa Sales | Market activity lower than usual, company says. | | | Zimbabwe Plans Production Hike in 2019 | State-owned miner expects 46% rise in rough output to 4.1 million carats. | | | Firestone Recovers 70ct. Rough | Diamond will be on offer at tender next month. | | | general | | Alrosa Showcases ‘Record-Breaking’ Pink | Polished stone is “largest of its color in Russian history” at 14.83 carats. | | | UK Gemological Center Expands to US Market | Gem-A partners with Jewelry Television to offer educational courses. | | | WFDB Signs Deal with Korea Bourse | Trade body will help promote nation’s diamond industry. | | | US Polished Imports Slowed in November | Shipments down 4% for the month. | | | Gübelin Gemstone Blockchain Goes Live | Tool offers traceability through entire supply chain, Swiss lab says. | | | | FINANCE | Diamond Industry Stock Report | | Far East retail stocks increased following reports the US may allow more time to negotiate a trade deal with China. Chow Sang Sang (+8%), Chow Tai Fook (+4.7%) and Luk Fook (+2.8%) all rose. Shares in Kering (+9%) gained value off the back of positive annual results, with European peers Richemont (+5%) and LVMH (+3.9%) following suit. Firestone Diamonds (+11%) received a boost after recovering a 70-carat diamond. Other mining stocks faltered, with declines at Mountain Province (-6%), Petra Diamonds (-4.7%) and Alrosa (-2.9%). | | | Contact Us | | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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