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Rapaport TradeWire September 26, 2019
Sep 26, 2019 10:59 AM
By Rapaport
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| September 26, 2019 | | RAPAPORT MARKET COMMENT |  | | Hong Kong show signals shift to lower price points. Chinese dealers and consumers focused on domestic spending, with cautious Far East demand affecting sentiment. Steady interest in 0.30 to 1.99 ct., G-I, SI-I1, RapSpec A3+ diamonds, and reduced supply supporting price levels. 3 ct. and larger, D-F, VVS+ weak. Improved liquidity for inexpensive melee as Rapaport Melee Auction sells $6M (84% by value, 76% by lot). De Beers offers 30% buybacks at Sep. sight. India Aug. rough imports -4% to $861M. Rapaport offices will be closed on Monday and Tuesday (Sep. 30-Oct. 1) due to Rosh Hashanah. Best wishes to all for a happy, healthy, prosperous and peaceful Jewish New Year. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.21% | 0.10% | -20.40% | | 0.50 ct | 0.21% | -0.17% | -9.93% | | 1.00 ct | 0.06% | -0.62% | -6.15% | | 3.00 ct | 0.24% | -1.41% | -18.89% |  | | 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 preparing inventories for holidays amid uncertain consumer sentiment due to trade war... |  |  | Belgium: Dealers concerned about exposure to the difficult Far East market... | | |  | Israel: 3 ct. and larger, D-F, IF-VVS diamonds sluggish... | | |  | India: More cutters entering lab-grown as they seek to improve profit margins and liquidity... | | |  | Hong Kong: Low expectations for Oct. 1 Golden Week as both tourist spending and Chinese demand have declined... | | |  | | | WEEKLY NEWS | | industry | | | | 313ct. Diamond Emerges as World’s Largest D-Color | | Nemesis International produced the polished from the 813-carat Constellation rough. |  | | | Hong Kong Show Reflects Slow Chinese Demand | | Trading and traffic were predictably low. | | | | | India Reduces Industry’s Tax Burden | | Government slashes GST on “job work” to 1.5% from 5%. | | | | | Blockchain Group Everledger Gets $20M Funding | | Chinese internet giant Tencent leads Series A round. | | | | | US Polished Imports Decline | | Shipments down 21% in July amid slide in average price. | | | | | retail | | | | Consumers Willing to Pay More for Verification | | Survey respondents value third-party authentication of responsible sourcing. | | | | | WD Lab Grown Diamonds Hires New CEO | | Sue Rechner is a veteran of luxury brands Movado, Seiko and Frederick Goldman. | | | | | Ex-De Beers Exec Joins Synthetics Supplier | | Richard Whitby will be chief financial officer for Altr Created Diamonds. | | | | | mining | | | | Alrosa Board Approves Kristall Takeover | | Miner expects to close deal in the first half of October. | | | | | Petra Recovers 20ct. Blue Diamond | | Miner finds type IIb stone at its Cullinan deposit in South Africa. | | | | | Stornoway to Lose Stock-Exchange Listing | | Toronto bourse will suspend the company on October 18. | | | | | general | | | | Plumb Club Requires Members to Join RJC | | Groups want to create standardized code of practices for the industry. | | | | | Graff Bracelet Exceeds Expectations at Bonhams | | Piece sells for $749,847, more than four times its high valuation. | | | | | Dubai Opens Revamped Diamond Bourse | | Exchange can host up to 200 buyers at once. | | | | | Cartier Sapphire Ring Crushes Estimate at Skinner | | Twin-stone piece fetches $873,000 in Boston. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Hong Kong retail shares fell amid weakness in the local stock market, with Chow Sang Sang (-5%), Chow Tai Fook (-5%) and Luk Fook (-4%) all down. In the US, Macy’s (-5%) and Tiffany (-1.5%) also lost ground. Mining equities were mixed, with Petra (-14%) continuing its descent following disappointing results, while Mountain Province (+22%) jumped. | | | | | 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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