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Rapaport TradeWire June 13, 2019

Jun 13, 2019 11:06 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
June 13, 2019

Disappointing Las Vegas shows failed to add value for diamond dealers. Jewelry wholesalers did better, reflecting steady US market. Diamantaires focused on showcasing tech rather than diamonds; innovations included improved traceability programs, online sales platforms and better inventory management. Brands pushing bridal as average engagement-ring price continues to decline. Small De Beers June sight expected as manufacturers reduce cutting operations. Alrosa May sales -8% to $266M. Chow Tai Fook FY sales +13% to $8.5B, profit +11% to $597M, but 2H growth flat amid trade war uncertainty. Industry mourns the passing of former GIA president Glenn Nord. 

Rapaport Banner 6 2019 Jewelers Mutual Jmss 600X160 Final
Weekly Monthly Y2Y
0.30 ct -0.50% -3.54% -16.27%
0.50 ct 0.07% -0.83% -6.12%
1.00 ct -0.14% -0.70% -3.98%
3.00 ct -0.23% -4.24% -14.20%
RAPI Yearly Graph
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Market Reports
United States: Some optimism for second half of the year amid positive jewelry retail sentiment...
Belgium: Commercial-quality G-J, VS-SI diamonds selling better than collection goods (D-F, IF-VVS)...
Israel: Dealers at the JCK show were looking for buying opportunities but cautious about falling diamond prices...
India: Factories operating at reduced capacity, and some manufacturers slashing salaries of polished workers...
Hong Kong: Steady interest in 0.30 to 0.50 ct., F-I, VS-SI RapSpec A3+ diamonds, but excess supply still affecting prices...
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Video: Can ‘Good’ Diamonds Sell at a Premium?

Participants in Rapaport’s town hall meeting on ethical supply believe there is huge demand for responsibly sourced diamonds, and consumers are willing to pay more for such assurances. 

Was Vegas Worth the Gamble?
WITH Avi Krawitz

Las Vegas 2019 will be remembered for its relatively cool weather, the hot US political climate and, at best, lukewarm market conditions. But there were other important themes that emerged.

Lucara CEO Hails Lightbox as Good for Natural Trade
Manufacturers Stand By Employees Amid Financial Woes
Industry Stunned by Indian Diamantaire’s Life Sentence
Shareholders Revolt at Karelian Diamond Resources
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Podcast: Key Insights from the JCK Show
Rapaport's news team picks out its top themes and favorite moments from Las Vegas 2019.
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The Drive to Lift the Artisanal Stigma
The wider diamond world is engaging with the small-scale mining sector and taking steps to encourage better standards.
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Authorities Probe Diamond Theft at Alrosa
Russian authorities detain worker who attempted to steal more than $340,000 worth of stones.
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Diamond Ring Fetches $31K/ct. at Sotheby’s
15-carat Marianne Ostier piece beats high estimate of $225,000 at New York sale.
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Amazon Cuts Fees for Jewelry Sellers
New tiered referral system will reduce cost of selling luxury pieces.
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Struggling Stornoway Seeks Buyer for Renard
Company has suffered three successive quarterly losses.
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Alrosa’s Sales Slump in May
Revenue from rough and polished diamonds dropped 8% during the month.
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Promising New Kimberlite Found at Gahcho Kué
Discovery of Wilson pipe sparks fresh exploration potential in the area.
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Former GIA President Glenn Nord Dies at 90
He pioneered the institute’s corporate training program and global outreach.
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Cutters Join Sarine’s Diamond Journey
Partners Program will enable buyers to source tracked stones from a broad selection of suppliers.
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WJN Names 37 Ambassadors
Rapaport Editor-in-Chief Sonia Esther Soltani will serve as a representative for Israel.
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Diamond Ring Smashes Estimate at Christie’s
Belle Époque piece sells for 10 times its presale valuation at London auction.
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Diamond Industry Stock Report

Retail stocks rebounded this week, with Chow Tai Fook (+13%) gaining after reporting positive fiscal-year results. J.C. Penney (+3.9%) and Walmart (+4.2%) also saw shares rise. Signet (-3.8%) lost ground following a drop in first-quarter revenue. Mining companies also bounced back after a few difficult weeks: Petra Diamonds (+9%), Anglo American (+9%), Rio Tinto (+5%), Mountain Province (+4.5%) and Lucara Diamond (+4%) all increased. Shares in Firestone Diamonds (-11%) fell, while Stornoway Diamonds (-43%) plummeted following reports it was looking for a buyer.

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