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Rapaport TradeWire March 28, 2019

Mar 28, 2019 12:18 PM   By Rapaport
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Rapaport TradeWire
March 28, 2019

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.

Trade Wire 600X160 April 2018
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%
RAPI Yearly Graph
Gia Tw Banner E 31 May 2018
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...
2019 Jan 31 Rap Net Free Trial 600X160
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.

Jared Scores Highest in Customer-Loyalty Survey
Instagram Allowing Consumers to Shop Through App
Indian Companies Selling Polished Cheap to Pay Loans
Western Australia Seeks Solution for Abandoned Mines
Tradewire Banner Single Stone April 2019
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Eurostar Diamond Traders Enters Bankruptcy
Company plans to appeal court ruling.
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Basel to Drop Prices by up to 30%
Gem and pearl exhibitors will move to Hall 2 for 2020 show.
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GIA Unveils New Diamond Origin Report
Service applies to stones submitted for analysis in both rough and polished form.
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Analysts Expect Flat Rough Prices in 2019
Demand won’t outweigh supply for several years, banks predict.
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Graff Adds 13ct. Lesotho Pink to Portfolio
Jeweler purchased stone for $8.8 million at tender in Antwerp.
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Alrosa Notes Rise in Global Jewelry Sales
North America, the biggest market, sees 4% growth.
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Tiffany Weathers Slow 4Q for Record Year
Revenue rose 7% to $4.4 billion in 2018.
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Silver Jewelry Demand Grew in 2018, Survey Says
More than half of US retailers reported an increase in sales.
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De Beers’ Victor Mine Shuts Its Doors
Last haul truck departs, 11 years to the day after site’s opening.
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Gem Diamonds Unearths 161ct. Rough
Stone is miner’s first this year over 100 carats.
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Alrosa Sees Untapped Wealth in New Mine
Verkhne-Monskoye is rich in large diamonds, testing confirms.
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Mountain Province Incurs Loss in 2018
Weaker Canadian dollar negatively affects bottom line.
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Blue Twin Diamonds to Lead Christie’s NY
Auction house will also offer three D-color stones over 15 carats each.
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Sotheby’s to Auction 3ct. Blue
Ring has a high estimate of $3 million.
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Coronet Watch Wins Guinness Accolade
Jeweler breaks record for most diamonds set on a timepiece, at 15,858.
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AGS Names Distinction-Award Honorees
Reeds Jewelers CEO Alan Zimmer will be recognized for lifetime achievement.
Mar 2019 Instagram 600X160
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.

Rapnet Trade Wire
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