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Rapaport TradeWire February 21, 2019

Feb 21, 2019 10:20 AM   By Rapaport
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Rapaport TradeWire
February 21, 2019

Rising expectations for Hong Kong show (Feb. 26), with hope that Chinese buyers will resume bulk orders following 2018 slowdown. Dealers uncertain about prices. Suppliers taking a lot of goods to the show. Top-make RapSpec A2+ seeing steady demand and short supply. Rough market cautious ahead of De Beers sight, as manufacturers are squeezed by high rough prices and inflated polished inventory. De Beers 2018 revenue +4% to $6.1B, earnings -34% to $349M, average price +6% to $171/ct. Petra Diamonds appoints Richard Duffy as CEO, 1H revenue +8% to $207M, loss of $58M vs. loss of $118M the previous year. India Jan. polished exports -16% to $1.7B, rough imports -40% to $858M.

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Weekly Monthly Y2Y
0.30 ct -0.11% -0.91% -8.74%
0.50 ct 0.22% 0.02% -2.33%
1.00 ct 0.19% 0.21% -2.91%
3.00 ct 0.14% -0.62% -6.00%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
United States: Mixed reports about Valentine’s Day, with busy traffic at big brands and shift to lower price points...
Belgium: Focus on filling specific requests from US and Europe, rather than bulk orders...
Israel: Dealers struggling to compete with India on price...
India: Manufacturers maintaining lower production, as inventory of low-quality polished remains high...
Hong Kong: Wholesale trading improving, with some pre-orders before the Hong Kong show, which begins Feb. 26...
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Synthetics: The Meat of the Matter
WITH Avi Krawitz

The meat industry is facing similar challenges diamonds went through in the early stages of the lab-grown debate. With the discussion in our sector now at a more advanced phase, the natural-diamond trade needs to get off the defensive. 

Mothae Will Add Significant Value to Lucapa, Says Analyst
January’s Top-Selling Jewelry Brands
Jeweler H. Samuel Fined for Online-Pricing Breaches
Police Seize Assets from Four Banks in Diamond Probe
2019 Jan 31 Rap Net Free Trial 600X160
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Higher Costs Hit De Beers Profit
Underlying earnings fall 34% to $349 million in 2018.
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Rare 88ct. Diamond to Lead Sotheby’s Hong Kong
Stone is one of only three oval cuts over 50 carats ever to be auctioned.
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China Downturn Still Plagues Swiss Watches
Exports to the country fell 15% in January.
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Blom Urges Joint Effort to Mend South Africa Trade
Close cooperation will help reverse slowdown in cutting sector, says WFDB president.
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Holiday Sales Growth Misses Expectations
NRF questions government data showing increase of just 2.9%.
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Couples Paying Less for Rings, Survey Shows
Average outlay on engagement pieces down 2% to $5,680, says The Knot.
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Petra Names New CEO to Drive Turnaround
Richard Duffy is a veteran of the mining industry.
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Lucara Recovers 223ct. Diamond at Karowe
Stone will be up for sale at March tender.
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Vast to Mine Zimbabwe’s Marange Fields
UK-based company will collaborate with local development trust.
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Lucapa Recovers 128ct. Rough
Miner also finds 7.5-carat purple-pink stone.
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Gem Diamonds’ Letšeng Mine Yields 13ct. Pink
Stone is largest of its color the company has found since 2011.
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Baselworld Owner Gets New Chief
Bernd Stadlwieser will help implement the watch exhibition’s transformation.
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India Starts Year with Export Slump
Rough and polished trading declines in January.
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34ct. Yellow Diamond Sells for $520K
Ring once belonged to the king and queen of Hawaii.
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Belgium Trade Slows in January
Polished exports down 4%, rough imports slump 33%.
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Diamond Industry Stock Report

Mining companies had a rough week. Lucapa Diamond (-8%) dropped following disappointing results from an exploration project, while Firestone Diamonds (-10%) fell again after a large-stone find had boosted its stock performance in the previous week. Petra Diamonds (-13%) continued its weakness, as the announcement of a new CEO and a reduced loss failed to improve investor sentiment significantly. Lucara Diamond (+8%) bucked the trend after recovering a 223-carat stone. In retail, Walmart (+2%) gained after holiday sales exceeded analysts’ predictions. Shares in Hong Kong-based Luk Fook (+4.4%) also increased.

Rapnet Trade Wire
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