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Rapaport TradeWire February 28, 2019

Feb 28, 2019 12:35 PM   By Rapaport
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Rapaport TradeWire
February 28, 2019
RAPAPORT MARKET COMMENT
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Slow start to Hong Kong show, but optimistic Far East buyers are restocking inventory after Chinese New Year. Dealers hoping show will stimulate better trading after sluggish Jan./Feb. Rough market cautious as profit margins remain tight despite rough-price reductions at De Beers sight. Swiss lab SSEF launches GemTrack, linking polished to rough colored stones. Michael Hill 1H sales -3% to $226M, profit +124% to $14M. Sarine 4Q sales -6% to $12M, profit -85% to $93,000. Rio Tinto diamond revenue -2% to $695M, profit +28% to $118M. Lucara 2018 revenue -20% to $176M, profit -82% to $12M. De Beers appoints Nompumelelo Zikalala CEO of merged South Africa and Canada mining divisions.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.17% -0.48% -8.58%
0.50 ct 0.00% -0.15% -2.00%
1.00 ct 0.20% 0.14% -2.50%
3.00 ct -0.45% -1.35% -6.30%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
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United States: Jewelers seeing rising demand for lab-grown diamonds...
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Belgium: Goods with faint fluorescence sell at significantly lower prices...
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Israel: High hopes Hong Kong show will stimulate stronger activity in Ramat Gan bourse...
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India: Suppliers holding large volume of goods that are difficult to move...
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Hong Kong: Jewelers still assessing Chinese New Year sales and are expected to restock in coming months...
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UPS AND DOWNS
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Botswana Offers Funding for Zimbabwe Industry
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Restaurants Pledge Not to Overcharge Baselworld Visitors
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Prices Crash After Diamonds Flood Mumbai Market
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Millennial Shopping Habits Making Business Hard
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2019 Feb 13 Rap Net Instant Inventory
WEEKLY NEWS
industry
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Oversupply an Issue at Hong Kong Show
Surplus of lower-value goods raises concerns despite strong traffic.
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De Beers: No Need to Flag Synthetics Treatments
They’re just another stage in the manufacturing process, company claims.
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DPA Campaign Targets Self-Purchasing Women
“For Me, From Me” debuted during Oscars TV coverage.
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What Online Jewelry Influencers Expect in 2019
Rapaport asks four style experts to pick their top trends.
retail
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Signet Offers Employees Voluntary Exit Packages
Jeweler will lay off workers if not enough opt for transition plan.
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Jewelry Among Top Sellers at Macy’s, J.C. Penney
Category a strong point in disappointing fourth quarter for the department stores.
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Sterling, Alex and Ani Settle Dispute
Retailers had been in litigation over supply deal.
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Michael Hill’s Revenue Falls in First Half
Discounting policy contributed to 2.7% decline.
mining
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De Beers Merges South Africa, Canada Assets
Nompumelelo Zikalala will oversee the combined operation.
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Rio Tinto’s Diamond Sales Slip in 2018
Figure declines 1.6% to $695 million.
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Lucara Sees Revenue Fall in 2018
Previous year’s results included sale of 1,109-carat stone.
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Lucapa Moves into Diamond Manufacturing
Company will cut and polish select stones in-house.
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Alrosa Recovers 99ct. Diamond at New Mine
Stone came from Verkhne-Munskoye deposit in Yakutia.
general
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Lady Gaga Wears Yellow Tiffany Diamond to Oscars
Iconic stone was previously seen on Audrey Hepburn.
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Lab Debuts Rough-to-Polished Gem Tracker
Service creates fingerprint by analyzing stones’ structural features.
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Market Challenges Lead to Sarine Profit Drop
Total down 85% in the fourth quarter.
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WJA Names New Board Members
Trade group appoints Jacqueline Cassaway as president-elect.
Feb 2019 Magazine Trade Wire Banner
FINANCE
Diamond Industry Stock Report
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US and Hong Kong retail stocks fared well this week amid hopes for a trade deal between Washington and Beijing. There were gains for Signet (+7%), Tiffany (+4.5%), Chow Tai Fook (+2.9%) and Luk Fook (+4.8%). Australia-based Michael Hill (+22%) rose after reporting stronger profits. Mining stocks had another difficult week: Lucara Diamond (-9%) fell following disappointing earnings, while Petra Diamonds (-15%) continued its downward descent as significant debts created concerns for investors.

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