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Rapaport TradeWire March 21, 2019

Mar 21, 2019 3:42 AM   By Rapaport
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Rapaport TradeWire
March 21, 2019

Low expectations for Basel show amid weak large-stone demand and fewer diamond, jewelry and watch exhibitors. US stable, with good orders for commercial-quality 0.70 to 1.99 ct., G-J, SI-I2 diamonds. Shortages developing for better qualities as India cuts back production. Rough market quiet, with deep concerns about manufacturing profitability. Alrosa 2018 revenue +9% to $4.6B, profit +15% to $1.4B. De Beers launches $2B Jwaneng mine expansion. India Feb. polished exports -4% to $2.3B, rough imports -18% to $1.4B. CIBJO specifies need to disclose treatments for both natural and lab-grown diamonds and gemstones. Fugitive jeweler Nirav Modi arrested in London.

Trade Wire 600X160 April 2018
Weekly Monthly Y2Y
0.30 ct -1.78% -1.99% -10.98%
0.50 ct 0.38% 0.35% -2.68%
1.00 ct 0.02% 0.34% -2.53%
3.00 ct -1.07% -1.72% -7.88%
RAPI Yearly Graph
Gia Tw Banner E 31 May 2018
Market Reports
United States: Dealers selling old stock, with few new goods coming onto the market, as manufacturing has declined...
Belgium: Rough activity down following last week’s Alrosa sale...
Israel: Many dealers attending Baselworld as visitors rather than exhibitors, hoping to do business on the sidelines of the show...
India: Foreign buyers looking for bargains and pushing for deeper discounts on diamonds below 0.50 carats...
Hong Kong: Good market for pointer sizes at reduced prices...
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Angola to Privatize State Diamond Companies
Richline Sees Strong 2018 Online Jewelry Sales
Swatch Will Not Be Returning to Baselworld
Trans Hex Lacks Funds for Environmental Rehab
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Nirav Modi Arrested in London
Police detain the jeweler on behalf of Indian authorities.
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Trade Braces for Smaller, Cheaper Baselworld
Show reduces prices by 10% to 15% for diamond exhibitors.
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CIBJO Calls for Synthetics Treatment Disclosure
Transparency rules apply to both natural and lab-grown diamonds, organization says.
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Brexit Stockpiling Boosts Swiss Watch Growth
UK accounts for 80% of worldwide increase in February.
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Alrosa Profit, Revenue Rise in 2018
Sales of higher-quality rough drive increase.
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De Beers Extends Jwaneng Mine Life
Cut-9 expansion will enable the site to produce diamonds through 2035.
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Alrosa’s Mir Site Could Reopen in 2030
Miner suspended activity in 2017 after a flood killed eight workers.
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Diamond Fields Pink Sells for $17K/ct.
Tender is company’s first since resuming offshore mining in Namibia last year.
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AIGS Launches App to Prevent Counterfeiting
Product will deliver warning when used to scan a fake report.
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India’s Polished Exports Fall in February
Figure down 4% year on year.
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Angola to Hold Rough Tender in Israel
Ramat Gan bourse sees opportunities to strengthen ties between two countries.
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Diamond Industry Stock Report

US retail shares had a mixed week. Birks Group (+14%) led the sector, whereas J.C. Penney (-8%) fell after strong gains in the past month. Continued hopes of a US-China trade deal supported Hong Kong stocks, with Chow Tai Fook (+3.2%) and Luk Fook (+2.3%) both improving. Petra Diamonds (-4.4%) declined after Goldman Sachs reportedly lowered its forecast for the stock’s future price performance.

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