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Rapaport TradeWire March 1, 2018

Mar 5, 2018 9:59 AM   By Rapaport
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14 Dec 2017 Igi Trade Wire Top Banner
Rapaport TradeWire
March 1, 2018

Positive sentiment after Chinese New Year. Hong Kong show starts off slow, with Chinese buyers still on vacation. Steady dealer demand and firm prices for 0.30 to 1 ct., G-J, VS-SI, RapSpec A2+ diamonds. Indian consumers and banks cautious as fallout from alleged $1.8B Nirav Modi-Gitanjali fraud widens, with new reports of unpaid $810M Gitanjali loan. A.Jaffe, Firestar Diamond and Fantasy file for bankruptcy protection. India Jan. polished exports +29% to $2.1B, rough imports +14% to $1.4B. Belgium Jan. polished exports +29% to $813M, rough imports +14% to $1.1B. Eira Thomas appointed CEO of Lucara Diamond Corp. Nishit (Bali) Parikh elected AWDC president.

Iidgr Tw Banner Jan 2018
Weekly Monthly Y2Y
0.30 ct 0.00% 4.71% 6.50%
0.50 ct -0.33% 2.08% -11.87%
1.00 ct -0.22% 1.16% -1.23%
3.00 ct -0.13% -1.83% 3.20%
RAPI Yearly Graph
Unique Trade Wire 600X160
Market Reports
United States: Retail market seasonally slow as jewelers concentrate on bridal ahead of summer wedding season...
Belgium: Dealers optimistic, with focus on filling US and European orders...
Israel: Good demand at large-stone rough auctions...
India: Cautious mood following major bank fraud claim against Nirav Modi and Gitanjali Gems...
Hong Kong: Strong jewelry retail sales during Chinese New Year, according to government data...
28 Feb 2018 Carat Tw Banner 600X160
Jeweler Convinces Olympic Skaters to Wear Her Designs
Large Diamond Deposits Discovered in Zimbabwe
Bank Accuses Another Indian Jeweler of Fraud
Grace Mugabe Involved in Lawsuit Against Jeweler
Gia Tw Banner Jan 2018
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Modi Latest: Three Jewelers File for Chapter 11
Firestar and Fantasy hope to find buyers within a week.
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Gitanjali Chief Tells Staff to Find New Jobs
Asset seizures have made it impossible to pay salaries, Mehul Choksi claims.
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Diamond Firms Press Ahead with Blockchain
Dharmanandan and Hari Krishna have adopted the technology to improve traceability.
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US Polished Market Declines in 2017
Imports and exports fall, but price per carat grows.
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Buffett’s Conglomerate Sees Slight Retail Drop
Division includes Borsheims, Helzberg Diamonds and Ben Bridge Jeweler.
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Zimbabwe to Hold First Diamond Sale in a Year
Auctions had paused during a restructuring period.
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Lucara Names Eira Thomas as CEO
Miner also acquires digital sales platform.
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Rapaport Partners with Carat+ 2018
Antwerp show is billed as world’s premier diamond event.
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Belgium Sees Rise in Polished Trade
Rough imports also climb.
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Parikh Returns to AWDC President Role
Diarough CEO last held the position from 2010 to 2012.
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India’s Polished Exports Jump in January
Shipments up 29% to $2.08 billion.
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De Beers’ IIDGR to Offer Courses in Chinese
Programs available for current or future diamond professionals.
Rap Net Tw Banner E
Diamond Industry Stock Report

Lucara Diamond stock rose 8.6% in the six days ending Wednesday as the company announced a new CEO and the acquisition of a digital sales platform. Miners had a mixed week otherwise: Stornoway Diamond (+17%) gained, while Petra Diamonds (-6.6%) and Firestone Diamonds (-8.5%) lost ground. US retail had a positive week, with both J.C. Penney (+9.4%) and Macy’s (+11%) benefiting from promising quarterly results.

Rapnet Trade Wire
Rap Lab 29 Aug 2017 300X300
Trade Wire Box Late February Single Stone
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