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Rapaport TradeWire August 10, 2017
Aug 10, 2017 11:49 AM
By Rapaport
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| August 10, 2017 | | RAPAPORT MARKET COMMENT |  | | 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. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | 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% |  | | 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: 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... | | |  | | | WEEKLY NEWS | | industry | | | | De Beers Broadens Lussier’s Branding Role | | Marketing veteran is now in charge of all downstream operations, including company’s namesake retail arm. |  | | | Blue Tops Fancy-Color Market | | Strong demand and supply shortages keep prices steady. | | | | | ‘Illegal Competition’ Dents Profits at Sarine | | Second-quarter sales down 13% year on year at diamond-equipment manufacturer. | | | | | Belgium’s Polished Trade Slows in July | | Exports to Hong Kong fall 39%; rough imports and exports also down. | | | | | retail | | | | Summer Rush Drives Titan Revenue Boom | | Consumers came to buy jewelry before new tax went into effect, says retailer. | | | | | Pandora Disappoints Despite Sales Jump | | Share price falls as jeweler’s profit drops 10%. | | | | | Jeweler Fred Leighton Dies at 85 | | Legendary retailer supplied to Kate Winslet, Jennifer Lopez and Nicole Kidman. | | | | | mining | | | | Russia Opens Criminal Probe into Alrosa Flood | | Underground Mir mine complied with all safety requirements, says company. | | | | | Patrick Evans to Be New Dominion Chief | | Veteran mining executive will enter post once Washington Companies completes takeover. | | | | | Lucara Mulls Lesedi La Rona Partnership | | 1,109-carat rough diamond has still not found a buyer. | | | | | Gemfields Names Post-Takeover CEO | | Sean Gilbertson steps in as previous chief and CFO resign following Pallinghurst deal. | | | | | Liqhobong Output Forecast Drops | | Owner Firestone to focus on waste-rock mining. | | | | | | FINANCE | | 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. | | | | | Contact Us |  |       | | © Copyright 2017 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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