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Rapaport TradeWire July 5, 2018
Jul 5, 2018 11:44 AM
By Rapaport
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| July 5, 2018 | | RAPAPORT MARKET COMMENT |  | | Diamond market slows as US wholesalers take vacation. Positive sentiment continues after polished prices strengthen in second quarter. 1 ct. RAPI +0.8% in June. Manufacturers upholding discounts as they defend high rough prices. Depreciation of currencies in China and India reducing budgets of local dealers and causing shift in demand to lower qualities. Diamantaires aligning their inventory with retailers’ needs and mining supply, resulting in slightly lower stock levels than this time last year. Improving demand for 0.70 ct., G-J, VS-SI, RapSpec A3+ after extended weak period. Belgium June rough imports -13% to $864M. Botswana’s Okavango joins GIA M2M tracking program. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 2.72% | 3.21% | 5.88% | | 0.50 ct | -0.05% | 0.31% | -2.53% | | 1.00 ct | 0.48% | 0.86% | 0.60% | | 3.00 ct | -0.16% | 0.47% | 2.50% |  | | 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: Stable engagement and bridal sales during summer wedding season... |  |  | Belgium: Rough trading stable, but dealers and manufacturers concerned about tight margins between rough and polished... | | |  | Israel: Dealers expecting market improvement from September Hong Kong show... | | |  | India: Sentiment weaker amid bankruptcy rumors... | | |  | Hong Kong: Concern about potential impact of US-China trade dispute... | | |  | | | De Beers’ Synthetics |  | | WITH Martin Rapaport | De Beers’ decision to sell synthetic diamond jewelry raises important issues that are fundamental to the future of the natural diamond industry. |  | | | Stop the Lies, Penelope Cruz |  | | WITH John Costello | By labeling her new Swarovski jewelry line “sustainable,” the actress joins the list of celebrities spreading misinformation about the ethics of lab-grown diamonds. | | | | | WEEKLY NEWS | | industry | | | | Diamond Prices Rise in June | | Market sentiment positive after Las Vegas shows. |  | | | Angola to Curb Sodiam’s Control of Rough Sales | | Country will allow producers to sell 60% of diamonds to companies of their choice. | | | | | Okavango to Implement GIA’s M2M Tracking | | Botswana diamond company will begin offering stones from the program at its July auction. | | | | | Israel Urges India to Reduce Diamond Tax | | 5% import duty damages trade, says Yoram Dvash. | | | | | retail | | | | Jewelry Sales Up in China and Hong Kong | | Tourism and consumer sentiment drive market in the municipality. | | | | | Signet Completes $446M Credit Outsourcing | | Deal enables retailer to focus on core business. | | | | | Weak Gold Demand Hits Titan’s 1Q | | Sales miss Indian retailer’s target. | | | | | Mayors Sale Saves Birks from Loss | | Disposal of jewelry chain boosts group profit by $30 million. | | | | | Rio Tinto Launches ‘As Real as You’ India Campaign | | Advertising will highlight Australian diamonds sourced from Argyle mine. | | | | | mining | | | | Alrosa Auction Garners $17M | | Vladivostok tender brings in average price of $8,500 per carat. | | | | | Sierra Leone Produces 144ct. Rough | | Appraisers value stone at more than $600,000. | | | | | 95ct. Diamond Boosts Mountain Province Revenue | | Rough stone price sets company record. | | | | | Lucapa’s Mothae Mine Yields 89ct. Yellow | | Company recovers diamond during bulk sampling. | | | | | Renard Operations to Resume After Fire | | Blaze briefly restricted access to Stornoway asset. | | | | | Mob Invades Gemfields Site in Ethiopia | | Staff members flee to safety after 300 to 500 people overrun emerald-exploration center. | | | | | Gem Diamonds Exec Velloza to Leave | | Move comes just two months after promotion to deputy CEO. | | | | | Sales and Output Rise at Lucapa | | Revenue from Lulo mine up 6% in second fiscal quarter. | | | | | Petra Sells Kimberley Mine for $22M | | Ekapa buys company’s 76% stake. | | | | | general | | | | GIA Grades ‘Largest’ Lab-Grown Pink | | CVD diamond weighs 5.01 carats. | | | | | India Seeks Arrest of Winsome Chief | | Central Bureau of Investigation asks Interpol for help finding Jatin Mehta. | | | | | World Diamond Congress Set for Mumbai | | Event will take place in October. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Shares in Anglo American (+6%), the owner of De Beers, rose this past week amid speculation of a merger with Vedanta Resources. Alrosa (+8.5%) gained after reports that it was close to acquiring Kristall Smolensk, and benefited further from a Russian stock-market rally ahead of a potential Trump-Putin summit. By contrast, Hong Kong-based jewelers Chow Sang Sang (-4.1%), Chow Tai Fook (-5%) and Luk Fook (-4.4%) slid as fears of a US-China trade war continued and the Chinese yuan lost value. US retailers J.C. Penney (-2.9%), Macy’s (-2%), Signet (-1.9%) and Walmart (-2.8%) also slipped. India’s Asian Star (-8%), Gitanjali Gems (-6%) and PC Jeweller (-6%) dropped amid a weak consumer market. | | | | | 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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