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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

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.

14 Jan 2019 Delgatto Tw Banner Gif
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
United States: Jewelers seeing rising demand for lab-grown diamonds...
Belgium: Goods with faint fluorescence sell at significantly lower prices...
Israel: High hopes Hong Kong show will stimulate stronger activity in Ramat Gan bourse...
India: Suppliers holding large volume of goods that are difficult to move...
Hong Kong: Jewelers still assessing Chinese New Year sales and are expected to restock in coming months...
Gia Tw Banner E 31 May 2018
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2019 Feb 13 Rap Net Instant Inventory
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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.
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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.
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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.
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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
Diamond Industry Stock Report

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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