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Rapaport TradeWire May 17, 2018
May 17, 2018 11:37 AM
By Rapaport
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| May 17, 2018 | | RAPAPORT MARKET COMMENT |  | | Dealers optimistic ahead of Vegas shows, despite sluggish May trading. 2018 looking better than 2017. GemGenève demonstrates robust high end. Sotheby’s Geneva sells $86M (82% by lot) as pear-shape, 6.16 ct., fancy dark grey-blue, SI1 diamond fetches $6.7M ($1.1M/ct.). Christie’s Geneva garners $82M (88% by lot), with cushion, 50.47 ct., D, VVS1 Harry Winston diamond going for $6.5M ($129K/ct.). India’s Titan FY sales +21% to $2.4B, profit +58% to $164M. Rough prices firm at De Beers and Alrosa sights. Alrosa 1Q sales +14% to $1.5B, profit +40% to $533M. India April polished exports +14% to $2B, rough imports -13% to $1.5B. World Diamond Congress postponed due to low registration. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.11% | 0.36% | 0.91% | | 0.50 ct | 0.18% | 0.81% | -7.04% | | 1.00 ct | -0.06% | 0.07% | -1.41% | | 3.00 ct | -0.20% | -0.36% | -0.10% |  | | 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: Jewelry sales focused on bridal ahead of summer wedding season... |  |  | Belgium: High-end dealers and manufacturers encouraged by GemGenève show... | | |  | Israel: Positive outlook for the US, even with preparations for Las Vegas shows quieter than usual... | | |  | India: Fewer foreign buyers in Mumbai... | | |  | Hong Kong: Some improvement expected at June 21-24 Hong Kong show... | | |  | | | Antwerp’s Banking Problem |  | | WITH Avi Krawitz | The May edition of the Rapaport Research Report takes an in-depth look at the biggest challenge facing Antwerp’s diamond trade. The city’s diamantaires have made impressive strides in compliance despite the lack of support from the banking sector. This excerpt from the report says Belgium’s banks need to recognize that progress in order to ensure growth in Antwerp's most important industry. |  | | | WEEKLY NEWS | | industry | | | | GemGenève Show Wins Industry Hearts and Minds | | Inaugural event in Swiss city draws 147 exhibitors and effusive praise. |  | | | Storied Blue Diamond Sells for $7M at Sotheby’s | | Royal jewel smashes pre-sale estimate in Geneva. | | | | | 50ct. Diamond Leads Sales at Christie’s Geneva | | Harry Winston piece sells for $6.5 million. | | | | | Blues Top Fancy Color Prices | | Index rises 5% in the first quarter. | | | | | Diamond Organizations Launch Banking Platform | | New tool aims to make regulatory compliance more efficient. | | | | | retail | | | | Diamond Demand Hits $82B High – De Beers | | US and China fuel overall improvement. | | | | | Titan Sees Rise in Jewelry Revenue | | Tax regulations helped drive sales to $2.41 billion for the year. | | | | | US, Asia Troubles Hit Pandora Sales | | Grey market damages jeweler’s performance in China. | | | | | Spence Diamonds Names First Marketing Chief | | Frank Hamlin previously worked at menswear retailer Tailored Brands. | | | | | Richline CEO Dennis Ulrich to Retire | | Dave Meleski to replace him at Berkshire Hathaway jewelry manufacturer. | | | | | mining | | | | Strong Market Drives Alrosa Sales | | Revenue rose 14% in the first quarter. | | | | | Mountain Province Revenue Rises Amid Asia, US Demand | | Miner saw sales of $52 million from two tenders in the first quarter. | | | | | Dominion May Cut 150 Mining Jobs | | Labor union argues prospective Ekati layoffs are cost-saving measure. | | | | | Firestone Chief Heads to Mountain Province | | Stuart Brown will succeed interim CEO David Whittle. | | | | | Firestone Promotes Paul Bosma to CEO | | General manager of company’s Liqhobong mine to take over from Stuart Brown. | | | | | general | | | | GIA Tracking Program Gains Traction | | Diamond-grading center has processed thousands of rough stones through M2M. | | | | | WFDB Asks Ernie Blom to Remain as President | | Israel’s Yoram Dvash turned down the role. | | | | | Diamond Cryptocurrency Startup Receives $1.6M | | Carats.io secures first-round funding from Net Capital Ventures. | | | | | India’s Polished Exports Rise | | Shipments grew 14% in April. | | | | | London Bourse Adds Millennial to Board | | Diamond exchange injects young blood into leadership committee. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Macy’s (+10%) stock jumped following positive sales and an improvement in its full-year outlook, while Walmart (+4%) also climbed as earnings beat expectations. Alrosa (+5%) and Mountain Province (+11%) gained as well after reporting strong revenue. Other miners had a good week, with Anglo American (+6%), Petra Diamonds (+5%) and Rio Tinto (+4%) all rising. However, Stornoway Diamonds (-5%) dropped after reporting a net loss, while Lucapa Diamond’s shares fell 5%. | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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