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Rapaport TradeWire March 28, 2019
Mar 28, 2019 12:18 PM
By Rapaport
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| March 28, 2019 | | RAPAPORT MARKET COMMENT |  | | Sentiment weakens after soft first quarter. Dealers avoiding large inventory purchases, and manufacturers reducing supply. Miners bracing for tough year as first-quarter sales decline an estimated 30%. Rough market under pressure, with some analysts optimistically predicting flat rough prices in 2019. Sightholders hoping profit margins will improve after next week’s sight. Baselworld announces price cuts and changes to diamond section, after smaller 2019 show. Alrosa estimates 2018 global diamond-jewelry sales +4% to $85.9B. Tiffany 2018 revenue +7% to $4.4B, profit +58% to $586M. US 2018 polished imports +8% to $23.3B. GIA to introduce polished-diamond country-of-origin report. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.53% | -2.79% | -11.55% | | 0.50 ct | 0.02% | 0.38% | -2.56% | | 1.00 ct | -0.08% | -0.15% | -2.64% | | 3.00 ct | -0.58% | -2.16% | -8.63% |  | | 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: Goods below 0.50 ct. and above 3 ct. weak... |  |  | Belgium: Buyers are selective, filling specific orders and avoiding large inventory purchases... | | |  | Israel: Fancy-shape prices supported by low supply rather than strong demand... | | |  | India: Liquidity tight as dealers settle accounts ahead of March 31 financial year-end... | | |  | Hong Kong: China retail improving as consumers are choosing to spend locally rather than abroad... | | |  | | | The Nirav Modi Arrest and More |  | | WITH The Rapaport Diamond Podcast | The latest podcast reflects on last week’s arrest of Nirav Modi in central London, mixed results from Tiffany & Co., and the recent Assure Program by the Diamond Producers Association. |  | | | Jury Still Out on Baselworld |  | | WITH Anthony Demarco | Many gem and jewelry exhibitors are still undecided as to whether to return to the Swiss show next year. |  | | | WEEKLY NEWS | | industry | | | | Eurostar Diamond Traders Enters Bankruptcy | | Company plans to appeal court ruling. |  | | | Basel to Drop Prices by up to 30% | | Gem and pearl exhibitors will move to Hall 2 for 2020 show. | | | | | GIA Unveils New Diamond Origin Report | | Service applies to stones submitted for analysis in both rough and polished form. | | | | | Analysts Expect Flat Rough Prices in 2019 | | Demand won’t outweigh supply for several years, banks predict. | | | | | Graff Adds 13ct. Lesotho Pink to Portfolio | | Jeweler purchased stone for $8.8 million at tender in Antwerp. | | | | | retail | | | | Alrosa Notes Rise in Global Jewelry Sales | | North America, the biggest market, sees 4% growth. | | | | | Tiffany Weathers Slow 4Q for Record Year | | Revenue rose 7% to $4.4 billion in 2018. | | | | | Silver Jewelry Demand Grew in 2018, Survey Says | | More than half of US retailers reported an increase in sales. | | | | | mining | | | | De Beers’ Victor Mine Shuts Its Doors | | Last haul truck departs, 11 years to the day after site’s opening. | | | | | Gem Diamonds Unearths 161ct. Rough | | Stone is miner’s first this year over 100 carats. | | | | | Alrosa Sees Untapped Wealth in New Mine | | Verkhne-Monskoye is rich in large diamonds, testing confirms. | | | | | Mountain Province Incurs Loss in 2018 | | Weaker Canadian dollar negatively affects bottom line. | | | | | general | | | | Blue Twin Diamonds to Lead Christie’s NY | | Auction house will also offer three D-color stones over 15 carats each. | | | | | Sotheby’s to Auction 3ct. Blue | | Ring has a high estimate of $3 million. | | | | | Coronet Watch Wins Guinness Accolade | | Jeweler breaks record for most diamonds set on a timepiece, at 15,858. | | | | | AGS Names Distinction-Award Honorees | | Reeds Jewelers CEO Alan Zimmer will be recognized for lifetime achievement. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks dropped this week amid fears of a US recession and global economic uncertainty. J.C. Penney (-12.4%) fell, as did Walmart (-2.6%). Shares in Chow Sang Sang (-2.3%), Chow Tai Fook (-2.5%), Swatch Group (-4.3%) and Pandora (-2.3%) also slid. Tiffany (+8%) rose after the company reported record annual sales. Mining companies had a difficult week, with Mountain Province (-4.7%) down following a heavy loss, and Petra Diamonds (-14%) declining after Berenberg lowered its price expectations for the stock. Alrosa (-3.4%), Lucara Diamond (-4.1%) and Stornoway Diamond (-5%) also fell. Gem Diamonds (+6%) rose after it recovered a 161-carat rough diamond. | | | | | 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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