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Rapaport TradeWire February 22, 2018

Mar 5, 2018 9:59 AM   By Rapaport
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14 Dec 2017 Igi Trade Wire Top Banner
Rapaport TradeWire
February 22, 2018
RAPAPORT MARKET COMMENT
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High expectations for next week’s Hong Kong show as dealers maintain firm prices for RapSpec A2+ diamonds, and jewelry sales improve during Chinese New Year. Indian market cautious, with banks expected to tighten lending amid $1.8B fraud claim against Nirav Modi and Gitanjali. Rough trading steady as cutters increase production to fill polished shortages. De Beers 2017 earnings -21% to $528M, revenue -4% to $5.8B, plans to raise 2018 production to 34M-36M cts. Lucara 2017 sales -25% to $221M, profit -8% to $65M. Petra 1H revenue -1% to $225M, loss of $118M vs. profit of $35M. US 2017 polished imports -6% to $21.6B, exports -4% to $18B. Reuven Kaufman reelected NY DDC president.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.40% 5.22% 6.65%
0.50 ct 0.53% 2.90% -11.65%
1.00 ct 0.44% 1.89% -0.73%
3.00 ct -0.10% -1.67% 3.30%
RAPI Yearly Graph
Unique Trade Wire 600X160
Market Reports
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United States: Jewelry retail market stable over Valentine’s Day...
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Belgium: Focus on filling US and European orders...
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Israel: Polished trading slower as dealers wait for Hong Kong show...
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India: Cautious mood following major bank fraud claim against Nirav Modi and Gitanjali Gems...
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Hong Kong: Strong jewelry retail sales during Chinese New Year, according to government data...
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Rapaport Research Report
WITH Avi Krawitz

India is better positioned for growth in 2018 than it was last year, despite the recent $1.8 billion fraud case that shook the industry this week. The February Rapaport Research Report outlines how the country can capitalize on its dominant role as new regulations become entrenched and global diamond demand improves.

UPS AND DOWNS
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Which Celebrities Own the Biggest Diamonds?
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Best Jewelry Trends at New York Fashion Week
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Home Linked to Ivanka Trump’s Diamond Business Burns
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Does Product Value Fall When a Brand Is Tarnished?
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600X160 Podcast
WEEKLY NEWS
industry
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Investigation into $1.8B Jewelry Fraud Intensifies
Trade assesses impact of allegations.
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Sarine Sues Rose Gems for Alleged Fraud
Technology provider claims Indian manufacturer misused Galaxy system.
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Israel Sees Downturn in Polished Exports
Government promises financial aid to help boost trade.
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New Diamond Bourse in the Works for Surat
The facility will host over 4,400 merchants.
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Comment: Making the Most of Memos
Consignment can be a lucrative arrangement for jewelers, as long as both merchants and suppliers take steps to protect themselves.
retail
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Swiss Watch Exports Surge in Asian Markets
Region continues to be strong, with China overtaking the US.
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Jewelers Focus on Digital at Inhorgenta
Favorable exchange rates boost diamond demand in Germany.
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Mumbai to Get New Jewelry Complex
The park will span 25 acres and employ 100,000 workers.
mining
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De Beers Production to Peak in 2018
Earnings increase due to lower costs.
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Lack of Large Diamonds Dents Lucara Sales
2017’s Lesedi La Rona sold for less than 2016’s Constellation.
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Petra Diamonds Posts Heavy Loss
Stronger rand impacts results for South Africa-focused miner.
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Prices Strong at Alrosa Israel Auction
Sale of large rough stones yields $13.7 million.
general
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Phillips Names Jewelry Head for Americas
Susan Abeles formerly worked at Bonhams.
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Ethically Sourced Gem Fair Comes to UK
Suppliers will offer a variety of stones at one-day London event.
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Stargems to Hold Dubai Rough Tenders
Company partners with local diamond exchange.
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WJA Honors Women Who Drive Equality
New category will debut at the annual Awards for Excellence.
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Reuven Kaufman to Head New DDC Board
New York exchange reelects three other senior officers.
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FINANCE
Diamond Industry Stock Report
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Indian jewelry shares fell as fraud allegations against Gitanjali Gems (-44%) and Nirav Modi dampened investor sentiment, with Asian Star (-14%) and PC Jeweller (-7.1%) both down. Lucara Diamond (-9.1%) and Petra Diamonds (-8%) trailed mining stocks following disappointing results. In the US, Walmart (-10%) dropped after reporting lower-than-expected earnings.

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Trade Wire Box Melee February
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