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Rapaport TradeWire October 31, 2019

Oct 31, 2019 11:35 AM   By Rapaport
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Rapaport TradeWire
October 31, 2019
RAPAPORT MARKET COMMENT
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Polished trading improving as jewelers prepare holiday inventory. US demand supporting the market. China cautious due to trade war and Hong Kong unrest. Luk Fook 2Q same-store sales -37%. Indian dealers and manufacturers on Diwali vacation. Specific demand creating high inventory of less popular qualities. De Beers 2018 global market estimate finds rough sales +3% to $16.9B, production volume -3% to 154M cts. and value +2% to $17.4B, polished demand +2% to $25.3B, diamond-jewelry demand +2% to $76B. Insight Report outlines changing attitudes toward love and their impact on the industry. LVMH makes $14.5B offer to acquire Tiffany & Co.

Trade Wire 600X160 April 2018
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.81% 1.43% -17.50%
0.50 ct 0.24% 0.41% -9.14%
1.00 ct 0.09% -0.29% -5.50%
3.00 ct -0.52% -0.25% -18.51%
RAPI Yearly Graph
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Market Reports
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United States: Jewelry retailers starting to implement holiday sales strategies...
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Belgium: Pears and ovals are strongest fancy shapes...
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Israel: Foreign buyers looking for goods in Ramat Gan while Indian dealers are on vacation...
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India: Market quiet with businesses closed for Diwali break, which began October 27...
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Hong Kong: Retailers under pressure due to political climate and seeing steep declines in Hong Kong sales...
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Diamond Manufacturers Must Brace for Automation
WITH Avi Krawitz

The industry is undergoing a revolution as artificial intelligence rapidly gains traction in mining, manufacturing and grading. The Rapaport Research Report explores.

UPS AND DOWNS
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De Beers Testing New Canadian Diamond Project
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Angola Aims for 14M Carats by 2022
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Indian Slowdown Hits Diwali Jewelry Sales
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Moody’s Not Sure Dominion Can Repay $550M Bond
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WEEKLY NEWS
industry
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More Brides Buying Their Own Engagement Rings
De Beers Diamond Insight Report focuses on evolving nature of love relationships.
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Private-Collection Jewels to Lead Christie’s Sale
Ruby, emerald and diamond brooch expected to fetch up to $5.5 million in New York.
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Delgatto Diamond Fund Gets $100M Injection
Investment will help it increase credit to the industry.
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DPA Creates New Public-Affairs Role
Raluca Anghel will oversee interactions with trade bodies.
retail
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LVMH Proposes Tiffany Takeover
Offer values US jeweler at $14.5 billion.
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Kering Notes Strong Quarter for Jewelry
Its Boucheron, Pomellato and DoDo brands performed well.
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Hong Kong Protests Hit Luk Fook
Same-store sales in municipality fall 39% in July to September as tourism slows.
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Young Shoppers to Drive Rise in Holiday Spending
Consumers between 18 and 34 plan to expand their circle of gift recipients.
mining
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Higher-Grade Ore Boosts Lucapa Production
Quarterly output rises at Mothae and Lulo mines.
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Petra Launches Artisanal Mining at South Africa Site
Koffiefontein initiative provides small-scale operators with tailings from main deposit.
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Firestone Questions Future of Operations
Liqhobong owner struggling with mounting debt and lower rough prices.
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Alrosa Finds Its Largest Diamond in Three Years
232.4-carat stone from Udachnaya pipe has a yellowish hue and several chips.
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Letšeng Yields 161ct. Rough
Stone is eighth over 100 carats Gem Diamonds has recovered this year.
general
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US Diamond Shipments Drop in August
Polished imports slump 25%.
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De Beers to Provide Lab-Grown Testing for Circa
Miner will authenticate secondhand luxury retailer’s jewelry and offer educational courses for its customers.
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GIA Hires Mark Buntz as Marketing Chief
Former golf-company executive succeeds Kathryn Kimmel, who retired in August.
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Sotheby’s Names New CEO Following Takeover
Charles Stewart was previously CFO at Patrick Drahi’s Altice USA.
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FINANCE
Diamond Industry Stock Report
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Tiffany (+34%) jumped following news LVMH wanted to purchase it. Other US retailers dropped, including J.C. Penney (-5%) and Macy’s (-4%). Kering (+7%) rose after reporting strong third-quarter sales, while Richemont (+5%) also gained. Miners continued to struggle, with Firestone (-15%) falling following poor quarterly results, and Gem Diamonds (-7%), Lucara (-3%) and Mountain Province (-2%) all slipping. There were increases for Alrosa (+5%), which recovered a 232-carat rough, and Petra (+17%).

Rapnet Trade Wire
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