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Rapaport TradeWire August 10, 2017

Aug 10, 2017 11:49 AM   By Rapaport
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Rapaport TradeWire
August 10, 2017

Sentiment improving with steady Chinese and Indian jewelry sales. High hopes that September Hong Kong show will reflect Chinese improvement. US retail market challenging as jewelers adjust to changing consumer trends. Polished suppliers under pressure with increased inventory and tight profit margins. Diamond buyers conservative and asking for lower prices during slow summer trading. India’s Titan Company 1Q sales +42% to $635M, profit +97% to $37M. Sarine 2Q revenue -13% to $18M, profit -47% to $3M. Lucara 2Q revenue -43% to $80M, profit -30% to $32M. Belgium July polished exports -1% to $1B, rough imports -14% to $777M. Patrick Evans named CEO of Dominion Diamond Corp.

M Suresh 21 July 2017 Trade Wire Banner A
Weekly Monthly Y2Y
0.30 ct -0.24% -1.64% 2.04%
0.50 ct -0.73% -2.86% -17.77%
1.00 ct -0.19% -0.76% -6.93%
3.00 ct -0.82% -0.10% 2.73%
RAPI Yearly Graph
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Market Reports
United States: Polished trading improving. Buyers filling specific orders rather than making inventory purchases for the holiday season...
Belgium: Market very quiet with bourses officially closed and most dealers on vacation until August 18...
Israel: Official summer vacation from August 6 to 18, with bourse limiting services. Dealers focused on preparing inventory for September Hong Kong show...
India: Trading stable and sentiment improving. Overseas buyers in Mumbai with good demand for nice SIs...
Hong Kong: Polished trading expected to remain quiet until September show. Dealers shifting to lower-color and -clarity diamonds, reflecting changing consumer demand...
Tradewire August Ss Il
How Upscale Jewelers Make Products Look Luxurious
Cheesy ’90s Jewelry Is Back
$309M Emerald Found in Brazil
Jail Officer Steals Jewelry from Inmate
Diamond Dealer Sues NYPD to Get Gun Permit Back
Thieves Nab Diamond Lookalike from Toronto Store
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De Beers Broadens Lussier’s Branding Role
Marketing veteran is now in charge of all downstream operations, including company’s namesake retail arm.
News Thumbnail
Blue Tops Fancy-Color Market
Strong demand and supply shortages keep prices steady.
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‘Illegal Competition’ Dents Profits at Sarine
Second-quarter sales down 13% year on year at diamond-equipment manufacturer.
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Belgium’s Polished Trade Slows in July
Exports to Hong Kong fall 39%; rough imports and exports also down.
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Summer Rush Drives Titan Revenue Boom
Consumers came to buy jewelry before new tax went into effect, says retailer.
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Pandora Disappoints Despite Sales Jump
Share price falls as jeweler’s profit drops 10%.
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Jeweler Fred Leighton Dies at 85
Legendary retailer supplied to Kate Winslet, Jennifer Lopez and Nicole Kidman.
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Russia Opens Criminal Probe into Alrosa Flood
Underground Mir mine complied with all safety requirements, says company.
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Patrick Evans to Be New Dominion Chief
Veteran mining executive will enter post once Washington Companies completes takeover.
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Lucara Mulls Lesedi La Rona Partnership
1,109-carat rough diamond has still not found a buyer.
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Gemfields Names Post-Takeover CEO
Sean Gilbertson steps in as previous chief and CFO resign following Pallinghurst deal.
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Liqhobong Output Forecast Drops
Owner Firestone to focus on waste-rock mining.
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Diamond Industry Stock Report

Alrosa (-3.9%) suffered a decline in its share price this past week following a flood at its Mir mine. Firestone Diamonds (-11.5%) also lost value after the company lowered its production forecast, while disappointing results hit Lucara Diamond (-3.2%). Investors reacted positively to strong sales and profit figures from Titan Company (+9.3%), with Indian stocks otherwise sluggish. US retail stocks were mixed, though Sotheby’s (-10%) slid after reporting a drop in profit.

Rapnet Trade Wire
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