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Rapaport TradeWire April 11, 2019
Apr 14, 2019 2:27 AM
By Rapaport
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| April 11, 2019 | | RAPAPORT MARKET COMMENT |  | | Sentiment weak, with Indian cutters lacking liquidity. Steady demand for 1 ct. diamonds supporting the market. Low manufacturing profits placing pressure on under-0.50 ct. sector. Rough prices stable at De Beers sight, with April sales +10% to $575M. Trade expecting shortages, as De Beers plans to reduce supply to sightholders in new sales period. Alrosa March sales -33% to $377M. Graff unveils world’s largest square emerald diamond: A 302.37 ct., D stone cut from 1,109 ct. Lesedi La Rona. LVMH upbeat on luxury market, with 1Q jewelry and watch sales +9% to $1.2B. Far East retail outlook uncertain. Responsible Jewellery Council names Iris Van der Veken executive director. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.45% | -3.42% | -11.63% | | 0.50 ct | -0.06% | 0.24% | -2.85% | | 1.00 ct | -0.11% | -0.11% | -2.50% | | 3.00 ct | -0.45% | -1.80% | -8.76% |  | | 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: Retailers not buying for stock, and are willing to pay more for memo to avoid holding goods in inventory... |  |  | Belgium: Fluorescents attracting very deep discounts, especially in 3 ct. and larger... | | |  | Israel: Trade slowing ahead of Passover, with exchange partially closing from April 19 to 27... | | |  | India: Melee under pressure, especially for VVS qualities, with SI-I1 moving better... | | |  | Hong Kong: VS the most popular clarity, with buyers considering VVS if the price is right... | | |  | | | Video Blog: Insights from AGS Conclave |  | | WITH Avi Krawitz | What did Rapaport News Editor and Senior Analyst Avi Krawitz learn in Seattle? Find out in this three-part video blog. |  | | | WEEKLY NEWS | | industry | | | | Graff Cuts 302ct. Diamond from Lesedi La Rona | | Polished stone has D color and “very high” clarity. |  | | | De Beers Reduces Sightholder Supply | | Decline in production to impact rough availability. | | | | | Dubai’s NBF Enters Antwerp Lending Market | | National Bank of Fujairah will focus on established wholesalers. | | | | | Rare 25ct. Diamond to Lead Christie’s Geneva | | Jonker V was cut from what was, at the time, the fourth-largest gem-quality rough ever unearthed. | | | | | Dismantling the Fluorescence Stigma | | Why some traders are embracing diamonds with this trait. | | | | | retail | | | | LVMH Jewelry Sales Rise in First Quarter | | Category, which includes watches, sees 9% increase. | | | | | Revenue Drops at Michael Hill | | Australian retailer had weak quarter overall, as strategic shift took until March to bear fruit. | | | | | mining | | | | De Beers Sales Jump 10% in April | | At $575 million, figure is highest since mid-2018. | | | | | Alrosa March Revenue Plunges | | Miner notes improvement over January and February. | | | | | Firestone Diamonds Recovers 72ct. Yellow | | Company also finds 22-carat white and 11-carat pink. | | | | | general | | | | Bonhams Auctions Original Cullinan Agreement | | Document outlines deal for cutting stone to create Crown Jewels of Great Britain. | | | | | Sotheby’s to Sell Storied Pieces in Geneva | | Fabergé tiara belonging to last crown princess of Prussia will go under the hammer. | | | | | New Israel Bourse Tower Will Be Nation’s Tallest | | Diamond exchange to construct 120-story building in Ramat Gan complex. | | | | | RJC Appoints Executive Director | | Iris Van der Veken is the first woman to hold the position. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Hong Kong retailers had a strong week after China unveiled plans to boost economic growth. Luk Fook (+9%), Chow Sang Sang (+4.9%) and Chow Tai Fook (+4.1%) all rose. US retail stocks were more negative, with J.C. Penney (-11%) down, and Signet (-9%) falling after reporting weak sales. Pandora (-8%) also lost ground after the resignation of its chief operating officer, while Michael Hill (-12%) fell following poor quarterly results. Mining stocks continued to descend, with Mountain Province (-6%), Lucapa Diamond (-6%), Petra Diamonds (-3.7%) and Gem Diamonds (-3%) all slipping. | | | | | 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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