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Rapaport TradeWire February 28, 2019
Feb 28, 2019 12:35 PM
By Rapaport
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| February 28, 2019 | | RAPAPORT MARKET COMMENT |  | | Slow start to Hong Kong show, but optimistic Far East buyers are restocking inventory after Chinese New Year. Dealers hoping show will stimulate better trading after sluggish Jan./Feb. Rough market cautious as profit margins remain tight despite rough-price reductions at De Beers sight. Swiss lab SSEF launches GemTrack, linking polished to rough colored stones. Michael Hill 1H sales -3% to $226M, profit +124% to $14M. Sarine 4Q sales -6% to $12M, profit -85% to $93,000. Rio Tinto diamond revenue -2% to $695M, profit +28% to $118M. Lucara 2018 revenue -20% to $176M, profit -82% to $12M. De Beers appoints Nompumelelo Zikalala CEO of merged South Africa and Canada mining divisions. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.17% | -0.48% | -8.58% | | 0.50 ct | 0.00% | -0.15% | -2.00% | | 1.00 ct | 0.20% | 0.14% | -2.50% | | 3.00 ct | -0.45% | -1.35% | -6.30% |  | | 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: Jewelers seeing rising demand for lab-grown diamonds... |  |  | Belgium: Goods with faint fluorescence sell at significantly lower prices... | | |  | Israel: High hopes Hong Kong show will stimulate stronger activity in Ramat Gan bourse... | | |  | India: Suppliers holding large volume of goods that are difficult to move... | | |  | Hong Kong: Jewelers still assessing Chinese New Year sales and are expected to restock in coming months... | | |  | | | Rapaport Trade Mission to India |  | Join Martin Rapaport on an exclusive trade mission to Surat, where you will experience the diamond market at the source. Take a look at this video to get a taste of what you are in for on this four-day trip. |  | | | The Fight’s Getting Real |  | | WITH Rapaport Magazine | The Rapaport Group has published a special report delving into the key issues around lab-grown diamonds. Click below to download it. |  | | | WEEKLY NEWS | | industry | | | | Oversupply an Issue at Hong Kong Show | | Surplus of lower-value goods raises concerns despite strong traffic. |  | | | De Beers: No Need to Flag Synthetics Treatments | | They’re just another stage in the manufacturing process, company claims. | | | | | DPA Campaign Targets Self-Purchasing Women | | “For Me, From Me” debuted during Oscars TV coverage. | | | | | What Online Jewelry Influencers Expect in 2019 | | Rapaport asks four style experts to pick their top trends. | | | | | retail | | | | Signet Offers Employees Voluntary Exit Packages | | Jeweler will lay off workers if not enough opt for transition plan. | | | | | Jewelry Among Top Sellers at Macy’s, J.C. Penney | | Category a strong point in disappointing fourth quarter for the department stores. | | | | | Sterling, Alex and Ani Settle Dispute | | Retailers had been in litigation over supply deal. | | | | | Michael Hill’s Revenue Falls in First Half | | Discounting policy contributed to 2.7% decline. | | | | | mining | | | | De Beers Merges South Africa, Canada Assets | | Nompumelelo Zikalala will oversee the combined operation. | | | | | Rio Tinto’s Diamond Sales Slip in 2018 | | Figure declines 1.6% to $695 million. | | | | | Lucara Sees Revenue Fall in 2018 | | Previous year’s results included sale of 1,109-carat stone. | | | | | Lucapa Moves into Diamond Manufacturing | | Company will cut and polish select stones in-house. | | | | | Alrosa Recovers 99ct. Diamond at New Mine | | Stone came from Verkhne-Munskoye deposit in Yakutia. | | | | | general | | | | Lady Gaga Wears Yellow Tiffany Diamond to Oscars | | Iconic stone was previously seen on Audrey Hepburn. | | | | | Lab Debuts Rough-to-Polished Gem Tracker | | Service creates fingerprint by analyzing stones’ structural features. | | | | | Market Challenges Lead to Sarine Profit Drop | | Total down 85% in the fourth quarter. | | | | | WJA Names New Board Members | | Trade group appoints Jacqueline Cassaway as president-elect. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US and Hong Kong retail stocks fared well this week amid hopes for a trade deal between Washington and Beijing. There were gains for Signet (+7%), Tiffany (+4.5%), Chow Tai Fook (+2.9%) and Luk Fook (+4.8%). Australia-based Michael Hill (+22%) rose after reporting stronger profits. Mining stocks had another difficult week: Lucara Diamond (-9%) fell following disappointing earnings, while Petra Diamonds (-15%) continued its downward descent as significant debts created concerns for investors. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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