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Rapaport TradeWire April 18, 2019

Apr 18, 2019 11:39 AM   By Rapaport
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Rapaport TradeWire
April 18, 2019

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 THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 26 DUE TO THE JEWISH HOLIDAY OF PASSOVER.

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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%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
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...
Gia Tw Banner E 31 May 2018
WITH Avi Krawitz
The Way Forward in a Slow Market

Rapaport’s Senior Analyst and News Editor analyzes the key trends in the global diamond industry.

Tiffany Trains Africans to Cut Locally Sourced Diamonds
LVMH, Kering Donate Funds to Help Rebuild Notre-Dame
Man Swallows Diamonds During Police Raid
Jeweler’s Row Tenants Evicted in Favor of Condos
April Melee Tradewire Banner
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US Looks to Tighten Jewelry-Origin Rules
Kimberley Process is “inadequate,” government officials say.
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Botswana Unveils 20ct. Okavango Blue Diamond
Polished comes from 41-carat rough discovered at Orapa mine.
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Gitanjali Edges Toward Liquidation
Creditors reject jeweler’s recovery plan.
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Breitling to Exit Baselworld Fair
Timing of 2020 show doesn’t suit watchmaker’s schedule.
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Rapaport Proposes Sierra Leone Diamond Reform
Competitive auctions would ensure fair market value.
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India’s Titan Sees Revenue Grow
Jeweler benefited from new digital initiatives.
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Sarine Tracking Platform Launches in Japan
New Art Cima will use the company’s Diamond Journey software.
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Alrosa’s Revenue Falters on Weak Prices
Miner sold increased proportion of lower-value stones.
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Rio Tinto Diamond Production Falls
Ore grades declined at Argyle and Diavik in first quarter.
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Troubles at Finsch Mine Hit Petra Output
Equipment problems outweigh higher production at Cullinan.
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Stornoway to Suspend Open-Pit Operations
Miner still has two underground pipes at its Renard site.
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Twin-Stone Ring Fetches $7M at Christie’s
New York sale totals $30.3 million.
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Kelly Newton Receives AGS’s Shipley Award
He is the owner and president of Newton’s Jewelers in Arkansas.
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Sotheby’s Garners $21.5M at New York Auctions
Blue diamond goes for $2.3 million.
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DEF Debuts Scholarships for Canadian Industry
Grants will go to young people in the Northwest Territories.
2019 Jan 31 Rap Net Free Trial 600X160
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.

Rapnet Trade Wire
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