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Rapaport TradeWire April 18, 2019
Apr 18, 2019 11:39 AM
By Rapaport
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| April 18, 2019 | | RAPAPORT MARKET COMMENT |  | | Sentiment mixed, with slow trading before Easter and Passover. Selective buyers looking for 3X (X3) fine VS-SI diamonds. Steady US demand for 1 to 1.50 ct. goods ahead of summer wedding season. Diamond cutters reducing production and seeking to offload excess 0.30 to 0.50 ct. inventory. Alrosa 1Q sales -37% to $988M, rough-price index -3%. Chow Tai Fook and Luk Fook signal slowdown during Chinese New Year, with decline in gem-set jewelry sales. Christie’s NY garners $30M (86% by lot). Sotheby’s NY sells $22M (78% by lot). US considers regulations requiring source-of-origin disclosure. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 26 DUE TO THE JEWISH HOLIDAY OF PASSOVER. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.62% | -2.28% | -12.01% | | 0.50 ct | -0.59% | -0.60% | -3.27% | | 1.00 ct | -0.38% | -0.69% | -2.68% | | 3.00 ct | -0.27% | -0.94% | -8.49% |  | | 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: Polished market stable, with steady demand for 1 ct., G-J, VS-SI goods... |  |  | Belgium: Manufacturers have reduced production, and miners are cutting back rough supply... | | |  | Israel: Dealers looking for bargains in India but struggling to find the right goods... | | |  | India: Business activity disrupted by national elections... | | |  | Hong Kong: Jewelers marketing cheaper items during slow period... | | |  | | | WEEKLY NEWS | | industry | | | | US Looks to Tighten Jewelry-Origin Rules | | Kimberley Process is “inadequate,” government officials say. |  | | | Botswana Unveils 20ct. Okavango Blue Diamond | | Polished comes from 41-carat rough discovered at Orapa mine. | | | | | Gitanjali Edges Toward Liquidation | | Creditors reject jeweler’s recovery plan. | | | | | Breitling to Exit Baselworld Fair | | Timing of 2020 show doesn’t suit watchmaker’s schedule. | | | | | Rapaport Proposes Sierra Leone Diamond Reform | | Competitive auctions would ensure fair market value. | | | | | retail | | | | India’s Titan Sees Revenue Grow | | Jeweler benefited from new digital initiatives. | | | | | Sarine Tracking Platform Launches in Japan | | New Art Cima will use the company’s Diamond Journey software. | | | | | mining | | | | Alrosa’s Revenue Falters on Weak Prices | | Miner sold increased proportion of lower-value stones. | | | | | Rio Tinto Diamond Production Falls | | Ore grades declined at Argyle and Diavik in first quarter. | | | | | Troubles at Finsch Mine Hit Petra Output | | Equipment problems outweigh higher production at Cullinan. | | | | | Stornoway to Suspend Open-Pit Operations | | Miner still has two underground pipes at its Renard site. | | | | | general | | | | Twin-Stone Ring Fetches $7M at Christie’s | | New York sale totals $30.3 million. | | | | | Kelly Newton Receives AGS’s Shipley Award | | He is the owner and president of Newton’s Jewelers in Arkansas. | | | | | Sotheby’s Garners $21.5M at New York Auctions | | Blue diamond goes for $2.3 million. | | | | | DEF Debuts Scholarships for Canadian Industry | | Grants will go to young people in the Northwest Territories. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Industry shares were mixed this week. Signet Jewelers (-11%) trailed retail stocks, after announcing disappointing results, store closures, and layoffs. In India, PC Jeweller (+52%) soared in the wake of private-equity fund Creador reportedly upping its stake in the company. Miners had a shaky performance, with Stornoway Diamond (-24%) seeing the steepest decline after terminating its open-pit operations. | | | | | 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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