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Rapaport TradeWire May 2, 2019
May 2, 2019 12:21 PM
By Rapaport
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| May 2, 2019 | | RAPAPORT MARKET COMMENT |  | | Polished market quiet, with dealers doing better than manufacturers. Steady US demand for 1.00 to 1.50 ct. goods supporting the trade, but prices continue to soften. 1 ct. RAPI -0.5% in April. Suppliers preparing for Vegas shows, hoping new JCK venue will help boost sentiment and sales. Far East buyers selective. High expectations for Mother’s Day as NRF predicts jewelry sales will be strongest growth category at +13% to $5.2B. Rough is tough, with prices too high. De Beers 1Q sales volume -15% to 7.5M cts., production -8% to 7.8M cts. Belgium 1Q polished exports -4% to $3.1B, rough imports -33% to $2.1B. DDI launches Maendeleo Diamond Standards for artisanal miners. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.43% | -1.79% | -12.84% | | 0.50 ct | -0.31% | -1.24% | -4.12% | | 1.00 ct | -0.22% | -0.62% | -3.03% | | 3.00 ct | -0.11% | -1.88% | -9.28% |  | | 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 hope Mother’s Day promotions will maintain positive sales momentum from 1Q... |  |  | Belgium: High-end large diamonds weak, although European luxury jewelers doing well... | | |  | Israel: Dealers focused on Las Vegas shows, though some attending as buyers rather than exhibitors... | | |  | India: Manufacturers cutting production instead of diamonds... | | |  | Hong Kong: Continued shift to lower colors and SI clarities as jewelers cater to tight consumer budgets... | | |  | | | Who’s Right – De Beers or the GIA? |  | | WITH The Rapaport Diamond Podcast | Major industry players are driving the conversation around key topics such as source verification and the status of lab-grown diamonds. We discuss some of the important issues in the 13th edition of the Rapaport Diamond Podcast. |  | | | WEEKLY NEWS | | industry | | | | Survey Highlights Gender Bias in Jewelry Trade | | Some 38% of employees say pay disparity has affected them. |  | | | GIA Steps Up Compliance Rules | | Know Your Customer program requires clients to produce enhanced level of identification. | | | | | LVMH Still Has Time for Baselworld | | Bulgari owner confirms participation for 2020 and beyond. | | | | | Christie’s to Sell Historic Golconda Diamond | | Stone was gift to Queen Charlotte of Great Britain from the Nawab of Arcot. | | | | | DDI Unveils Standards for Artisanal Miners | | Maendeleo Diamond Standards provide assurance of diamonds’ ethical origins. | | | | | retail | | | | Jewelry Spending to Boost Mother’s Day Sales | | Americans will shell out $5.2 billion on the category this year, NRF says. | | | | | US Retail Market Rebounds in March | | Revenues up 3.6% for the month. | | | | | Indian Wedding Demand Boosts Gold Sector | | First quarter sees drop in prices for yellow metal. | | | | | Online Retail Startup Raises $23M | | Mejuri targets millennial women buying jewelry for themselves. | | | | | mining | | | | Karowe Mine Yields 1,758ct. Diamond | | Stone is largest ever recovered in Botswana. | | | | | De Beers Sales and Production Drop | | Miner notes soft demand for low-value rough in first quarter. | | | | | Rainy Season Dampens Firestone Output | | Ore grade declined during first three months of 2019. | | | | | general | | | | 17ct. Sapphire Smashes Estimate at Bonhams | | Piece fetches $944,713 at London sale. | | | | | De Beers Expands GemFair Project | | Program aims to create transparent route to market for artisanal miners. | | | | | US Polished Imports Drop in Early 2019 | | Average price slips in January and February. | | | | | JA Unveils CASE Award Winners | | Honorees receive a customized trophy and media coverage. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail equities fell in the two weeks since the last TradeWire, with Macy’s (-6%), Chow Sang Sang (-4%), Chow Tai Fook (-4%), Luk Fook (-5%) and Pandora (-4.7%) all losing ground. Mining companies were mixed. Stornoway Diamond (-19%) dropped following disappointing first-quarter results, and De Beers owner Anglo American (-10%) suffered after JP Morgan downgraded the stock. Petra Diamonds (+25%) got a boost after recovering a 210-carat stone and receiving an upgrade from Berenberg Bank. Shares in Gem Diamonds (+6%) also rose. | | | | | 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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